Deal Comps by Industry
Why It Matters
Before you pick an industry, it helps to see what deals in it actually look like: how much acquisition lending happens, the median loan behind a typical deal, how often those loans go bad, and the multiple the trade prices at. This gathers all four for every industry with a guide, so a thesis can start from the market rather than a hunch. Each row links to its guide, and Underwrite a Deal runs your own numbers against the band.
The Comps
| Multiple | |||||
|---|---|---|---|---|---|
| Full-Service Restaurants | 1,971 | $427,600 | $1344.7M | 6.7% | 2.1x to 3x SDE |
| Limited-Service Restaurants | 1,568 | $370,000 | $991.8M | 5.1% | 2.1x to 3x SDE |
| Gasoline Stations with Convenience Stores | 1,063 | $1,412,300 | $1930.5M | 0.4% | 2.21x to 3.3x SDE |
| General Automotive Repair | 798 | $592,850 | $647.8M | 4.5% | Not cited |
| Plumbing, Heating, and Air-Conditioning Contractors | 707 | $735,000 | $805.0M | 5.1% | 2x to 4x SDE |
| Insurance Agencies and Brokerages | 648 | $760,500 | $691.0M | 3.5% | Not cited |
| Landscaping Services | 588 | $500,000 | $498.5M | 5.3% | 2.5x to 4.5x SDE |
| Beer, Wine, and Liquor Stores | 543 | $623,500 | $536.2M | 2.0% | 2.9x to 3.7x SDE |
| Offices of Certified Public Accountants | 458 | $500,000 | $347.0M | Too few | 2.5x to 3.3x SDE |
| Fitness and Recreational Sports Centers | 408 | $303,750 | $220.3M | 11.7% | 2.5x to 2.9x SDE |
| Snack and Nonalcoholic Beverage Bars | 387 | $350,000 | $217.3M | 7.8% | 2.1x to 3x SDE |
| Offices of Dentists | 345 | $740,800 | $340.2M | 0.0% | Not cited |
| Janitorial Services | 312 | $400,000 | $192.3M | Too few | 2.5x to 3x SDE |
| Electrical Contractors and Other Wiring Installation Contractors | 300 | $801,250 | $396.8M | Too few | 3x to 4x EBITDA |
| Pet Care (except Veterinary) Services | 288 | $473,000 | $212.7M | Too few | 2.77x to 3.32x SDE |
| Car Washes | 280 | $1,231,900 | $495.7M | 0.9% | 2.4x to 4.2x SDE |
| Funeral Homes and Funeral Services | 243 | $1,270,800 | $389.4M | Too few | 2x to 3.2x SDE |
| Lessors of Miniwarehouses and Self-Storage Units | 238 | $1,107,500 | $333.5M | Too few | Not cited |
| Coin-Operated Laundries and Drycleaners | 218 | $499,250 | $174.8M | Too few | 3.2x to 4.2x SDE |
| Drycleaning and Laundry Services (except Coin-Operated) | 215 | $422,000 | $138.0M | 6.7% | 3.2x to 4.2x SDE |
| Child Day Care Services | 214 | $701,500 | $251.3M | 1.3% | 2.4x to 3.4x SDE |
| Pharmacies and Drug Stores | 185 | $1,100,000 | $265.5M | 3.7% | 2.45x to 3.38x SDE |
| Services for the Elderly and Persons with Disabilities | 175 | $501,000 | $204.1M | Too few | 2x to 3.6x SDE |
| Roofing Contractors | 147 | $957,000 | $206.4M | Too few | 2.5x to 4x SDE |
| Painting and Wall Covering Contractors | 126 | $431,350 | $92.0M | Too few | 1.41x to 2.84x SDE |
Method & Source
Loan counts, median loan, and total lending are computed from the SBA 7(a) FOIA loan-level file, filtered to change-of-ownership approvals (FY2020 through FY2025). Charge-off rates use the seasoned cohort (FY2018-19 change-of-ownership approvals (7-8 years seasoned)); industries below the publishing floor read “too few” rather than a number one default would swing. Charge-off rates come from the seasoned cohort only; FY2020+ loans are too young to have defaulted. Rates are a lower bound (open loans can still fail), so read the ordering, not the level. The multiple band is the figure the industry guide cites, hedged to its own source.