LOWOutside partyCustomer
24%
top 10 customers
“10-K Item 1: 'In 2025, an estimated 55% of total company revenue was attributed to our largest 100 customers and 24% was attributed to our largest 10 customers.'”
KELYB · Concentration risk · 10-K extracted
Kelly Services (KELYB) concentration risks
Updated
The most significant concentration Kelly Services discloses is top 10 customers at 24%, classified LOW 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.
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Source: Kelly Services’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM0
LOW2
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).
LOWOutside partyCustomer
6%
largest single customer
“10-K Item 1: 'Our largest single customer accounted for approximately six percent of total revenue in 2025.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-26Kelly Services' disclosed concentration risk is broad-based rather than narrow: an estimated 55% of total company revenue was attributed to the company's largest 100 customers, while 24% was attributed specifically to the largest 10 customers — both a low-share dependency when viewed at the individual-customer level. That read is reinforced by the single-customer figure: Kelly's largest single customer accounted for approximately 6% of total revenue in 2025, also a low-share dependency. Taken together, these figures describe a customer base that is wide rather than concentrated — no single relationship, nor even the top 10 in aggregate, represents a large enough share to be a dominant swing factor for results. The dependency character of these exposures reflects reliance on individual client relationships rather than a structural feature of the business model, and the low absolute shares involved suggest customer concentration is not a primary driver of Kelly's investment thesis.
For the engine’s reasoning on KELYB’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Staffing & Employment Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| MAN | ManpowerGroup | 3 | 0 | 0 | 3 |
| BBSI | Barrett Business Services, Inc. | 1 | 0 | 0 | 1 |
| KFY | Korn Ferry | 0 | 1 | 0 | 1 |
| KELYA | Kelly Services, Inc. | 0 | 0 | 2 | 2 |
| KELYB● | Kelly Services, Inc. | 0 | 0 | 2 | 2 |
| KFRC | Kforce, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.