Image Source: Zach Seward
Structure of the Commercial Services Industry
The commercial services industry runs the gamut of firms from those that provide document management services and/or mail-related operations to entities that offer records management solutions and corporate uniforms. Though there are pockets of strength, a number of participants must reinvent themselves to survive over the long haul. Industry constituents are levered to business spending and are not immune to competitive forces. Carving out a sustainable competitive advantage is difficult to do in this group, though returns on invested capital have been satisfactory. We’re neutral on the industry’s structure.
We’ve dropped coverage of stocks in the Commercial Services industry.