HIGHBuilt-inGeographic
83%
non-U.S. operations revenue
“10-K Item 1A: 'Our non-U.S. operations accounted for approximately 83% and 83% of our consolidated revenues in the year ended December 31, 2025 and 2024, respectively.'”
VTOL · Concentration risk · 10-K extracted
Bristow Group (VTOL) concentration risks
Updated
The most significant concentration Bristow Group discloses is non-U.S. operations revenue at 83%, 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.
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Source: Bristow Group’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
LOW1
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).
HIGHOutside partyCustomer
63%
top ten customers
“10-K Item 1: 'our top ten customers accounted for approximately 63% of revenues'”
MEDIUMOutside partyCustomer
36%
three largest customers
“10-K Item 1: 'the combined revenues from our three largest customers accounted for 36% of our revenues'”
LOWBuilt-in & outside partyGeographic
13%
Nigeria
“10-K Item 1A: 'political and social unrest in Nigeria, where we derived 13% and 12% of our revenues during the year ended December 31, 2025 and 2024, respectively'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Bristow Group's concentration profile combines high-share geographic and customer exposures with one smaller, single-country risk. Non-U.S. operations accounted for approximately 83% of consolidated revenues in both 2025 and 2024, a high-share, structural concentration reflecting the company's core business as a global offshore helicopter operator rather than a domestic-U.S. one. Customer concentration is similarly elevated: the top ten customers accounted for approximately 63% of revenues, and the three largest alone contributed 36% — high-share and medium-share dependencies, respectively, that leave Bristow reliant on a relatively small set of energy-sector counterparties. Layered within the geographic exposure, Nigeria specifically contributed 13% of revenues, a low-share exposure but one flagged with mixed character due to political and social unrest in that country. Taken together, the international and customer concentrations are the two exposures most likely to move the verdict, since both sit at high-share levels and are structural to how Bristow's business is organized; the Nigeria exposure, while smaller, adds an idiosyncratic political-risk layer on top of the broader non-U.S. footprint. A shock to major customer relationships or key operating regions, Nigeria included, would have a more direct effect on results than would be typical for a more geographically or customer-diversified operator.
For the engine’s reasoning on VTOL’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Oil & Gas Equipment & Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| VTOL● | Bristow Group, Inc. | 2 | 1 | 1 | 4 |
| AROC | Archrock, Inc. | 2 | 1 | 0 | 3 |
| AESI | Atlas Energy Solutions Inc. | 1 | 2 | 0 | 3 |
| BKR | Baker Hughes Company | 1 | 0 | 0 | 1 |
| ACDC | ProFrac Holding Corp. | 0 | 3 | 0 | 3 |
| CLB | Core Laboratories 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.