HIGHBuilt-inCustomer
93.9%
private pay residents
“10-K Item 1A: 'we generated 93.9% of our consolidated resident fee revenue from private pay residents'”
BKD · Concentration risk · 10-K extracted
Brookdale Senior Living (BKD) concentration risks
Updated
The most significant concentration Brookdale Senior Living discloses is private pay residents at 93.9%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Brookdale Senior Living’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
California, Florida, and Texas
“10-K Item 1A: 'We have a high concentration of communities in various geographic areas, including the states of California, Florida, and Texas.'”
MEDIUMOutside partyCounterparty
Fannie Mae and Freddie Mac
“10-K Item 1A: 'We are heavily dependent on mortgage financing provided by Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac)'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile spans three structural dimensions that together define the operating framework of a large senior living provider. The most significant is the payor mix: the company generated 93.9% of consolidated resident fee revenue from private pay residents — a high-share structural exposure. While private pay residents provide more predictable and less administratively complex revenue than government-reimbursed sources, the concentration also means results are tightly levered to the financial capacity of private-pay seniors and their families, which is itself sensitive to household wealth levels, housing market conditions, and broader economic cycles. Geographic concentration is moderate: communities are highly concentrated in California, Florida, and Texas, the three largest disclosed states. These markets individually have distinct regulatory environments, labor markets, and competitive dynamics; a policy change or operational disruption in any one of them could affect a material portion of the portfolio simultaneously. The third structural exposure is a financing dependency: the company is heavily dependent on mortgage financing provided by Fannie Mae and Freddie Mac. This is a moderate share dependency — agency-backed financing governs a meaningful portion of the company's debt structure, and any material change in agency lending terms, underwriting standards, or GSE policy could constrain refinancing capacity or increase borrowing costs. In aggregate, the payor mix at a high share is the dominant structural feature, while the geographic and financing dependencies are complementary structural risks that move on different timescales. The private-pay share is the most consequential variable for revenue quality; the GSE dependency is the most consequential for balance-sheet flexibility.
For the engine’s reasoning on BKD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Care Facilities
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| DVA | DaVita Inc. | 2 | 1 | 0 | 3 |
| CON | Concentra Group Holdings Parent | 2 | 0 | 0 | 2 |
| BKD● | Brookdale Senior Living Inc. | 1 | 2 | 0 | 3 |
| ACHC | Acadia Healthcare Company, Inc. | 1 | 1 | 0 | 2 |
| CHE | Chemed Corp | 1 | 1 | 0 | 2 |
| ADUS | Addus HomeCare Corporation | 0 | 2 | 4 | 6 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.