HIGHBuilt-in & outside partyRegulatory
87%
Medicare (hospice services)
“10-K Item 1: 'Medicare| | 43.8 | %| | 87.0 | %| | — | %| | 48.4 | %'”
PNTG · Concentration risk · 10-K extracted
The Pennant Group (PNTG) concentration risks
Updated
The most significant concentration The Pennant Group discloses is Medicare (hospice services) at 87%, 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: The Pennant Group’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
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).
HIGHBuilt-in & outside partyRegulatory
61.5%
government payors (Medicare and Medicaid)
“10-K Item 1A: 'For the year ended December 31, 2025, 61.5% of our revenue was provided by government payors that reimburse us at predetermined rates, which is typical for our business.'”
MEDIUMBuilt-in & outside partyRegulatory
48.4%
Medicare
“10-K Item 1A: 'We derived 48.4% of our revenue from the Medicare program for the year ended December 31, 2025, which is typical for our business.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-26Pennant Group's disclosed concentration is almost entirely a single-payor story. Government payors — Medicare and Medicaid combined — accounted for 61.5% of revenue for the year ended December 31, 2025, a high-share exposure. Medicare alone contributed 48.4% of revenue, a medium-share exposure, and within the hospice services line specifically, Medicare reimbursement reached 87.0%, a high-share concentration. All three exposures carry a mixed character: they blend policy-set reimbursement dynamics with elements of dependency, rather than sitting cleanly on one side or the other. That distinction matters for how the verdict could move — a rate cut or program-eligibility change would compress margins company-wide rather than through the loss of one client. The hospice segment's high-share Medicare dependence at 87.0% is the most consequential single line, since it ties a large slice of segment cash flow to one program's policy decisions, while the blended 61.5% government-payor share confirms the exposure runs across the business, not just hospice. Given the predictability of government reimbursement schedules relative to a commercial counterparty default, this reads as well-disclosed, policy-linked risk rather than an acute, idiosyncratic threat.
For the engine’s reasoning on PNTG’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 |
|---|---|---|---|---|---|
| PNTG● | The Pennant Group, Inc. | 2 | 1 | 0 | 3 |
| ACHC | Acadia Healthcare Company, Inc. | 1 | 1 | 0 | 2 |
| ADUS | Addus HomeCare Corporation | 0 | 2 | 4 | 6 |
| ARDT | Ardent Health, Inc. | 0 | 2 | 0 | 2 |
| AMN | AMN Healthcare Services Inc | 0 | 0 | 1 | 1 |
| AGL | agilon health, 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.