In FY25, the USFS contributed 32% of Perimeter's total revenue and approximately 37% of EBITDA. But this underplays the USFS' significance. The USFS' Qualified Products List is followed worldwide. All US agencies and most, if not all, international wildfire agencies leverage the USFS' specification criteria to select wildfire retardants. This saves other agencies the effort of qualifying new products.

The importance of the USFS relationship and sole-source position on the QPL influences Perimeter's retardant revenue. If PHOS-CHEK were to be removed from the QPL, it wouldn't only lose USFS revenue, it would impact Cal-Fire, British Columbia, Australia, and other agencies' use of the product.

This research explores the organisational structure of the USFS, the USDA, its mission, and how it impacts Perimeter and retardant contracting.

How USDA and the Forest Service are structured