Tools
Industry Multiple Benchmarks
What searcher-sized businesses in each industry roughly trade for, and what moves a specific company inside the band. Every band restates a cited source and stays directional: these are sanity checks for asking prices, not appraisals of any particular business.
2x to 4x SDE
Service-agreement share is the big lever: 40%-plus recurring revenue reportedly adds 0.5x to 1.0x over install-dependent peers. Sub-$1M-SDE companies cluster near the high 2s.
Source: First Page Sage, HVAC valuation multiples report (2025) · Full guide
~2.5x SDE average
Sub-$1M-revenue companies commonly traded between roughly 1.7x and 3.1x in 2025 marketplace data; recurring service agreements, master-license transferability, and commercial diversification move a company up the band.
Source: BizBuySell plumbing valuation benchmarks (2025 data) · Full guide
~4x to 5x EBITDA
MSPs under $1M of EBITDA sit near 4x with sub-$5M transactions averaging around 5x; recurring-revenue mix is the largest lever at a given size, with managed-services MRR valued several times project revenue.
Source: Aventis Advisors, MSP valuation multiples · Full guide
2.5x to 4.5x SDE
Commercial-contract maintenance operators sit at the top of the band, simple residential route work at the bottom; recurring contracts and route density drive the spread.
Source: First Page Sage, landscaping multiples report (2025) · Full guide
~3x to 4x EBITDA (broad market)
Small owner-operated shops trade below the broad-market band and $5M-plus-revenue companies above it; 40%-plus recurring service, testing, and compliance work reportedly adds one to two turns.
Source: ClearlyAcquired, trades contractor multiples (2025) · Full guide
1.0x to 1.2x revenue / 2.5x to 3.3x SDE
2025 marketplace averages ran near 1.1x revenue and 2.3x reported earnings; advisory-heavy firms price at the top of the band and heavy owner dependence discounts it. Bookkeeping books price more reliably on earnings.
Source: CPA practice valuation guides (2025 to 2026) · Full guide
2.3x to 2.9x SDE
Reported small-transaction EBITDA bands run near 3.3x to 4.1x; recurring-contract share (typically 70% to 85% of revenue) and route density drive pricing, and platform-scale consolidation deals trade far above these ranges.
Source: Peak Business Valuation, pest-control multiples · Full guide
2.5x to 3.0x SDE
Reported EBITDA bands run near 3.4x to 4.1x; multi-year commercial contracts with escalators price toward the top, and top-five customer concentration above roughly 40% of revenue compresses the multiple or forces retention earnouts.
Source: Peak Business Valuation, cleaning company multiples · Full guide
~2x to 3.6x SDE
Averages near 2.9x, with single-market agencies reported around 3x to 5x EBITDA; private-pay-heavy books with durable hours price at the top, Medicaid-heavy books lower, and caregiver retention below 50% turnover earns a premium.
Source: Home care agency valuation multiples (2026 roundup) · Full guide
3.2x to 4.2x SDE
Reported EBITDA bands run near 3.4x to 4.9x and revenue multiples around 1.2x to 1.8x; long leases (15-plus years), rent under about a quarter of gross income, and machines under five years old support the top of the range.
Source: Peak Business Valuation, laundromat multiples · Full guide
2.4x to 4.2x SDE
EBITDA-based roundups report 4x to 7x for quality operations, self-serve at the low end, and express tunnels with roughly 40%-plus membership penetration at 8x and above; real estate is commonly part of the transaction.
Source: Peak Business Valuation, car wash multiples · Full guide
~2.8x to 3.0x SDE (small shops)
Diversified quality operators run roughly 4x to 7x EBITDA and preferred or exclusive carrier-program status is reported at 7x and above; the mitigation share of revenue and insurer program standing do the sorting.
Source: Disaster restoration sale guidance (2026) · Full guide
3x to 6x EBITDA (under ~$4M revenue)
Mid-sized groups run 5x to 8x and platforms above that; membership revenue over roughly 30% of total is a reported premium driver, and injector retention plus state ownership-structure compliance decide what actually transfers.
Source: Med spa valuation and M&A trends (2025) · Full guide
2.4x to 3.4x SDE
Reported EBITDA bands run near 3.0x to 4.4x with single-location independents framed at 2x to 4x; sustained enrollment around 80% of licensed capacity is the health benchmark, and licensed capacity itself (space and ratio rules) caps the upside.
Source: Peak Business Valuation, daycare multiples · Full guide
2.5x to 2.9x SDE
Tiered guidance runs 1.5x to 3x SDE for independent gyms and 2x to 4x for boutique studios, with franchise units above; monthly churn under roughly 4% is premium territory and over 8% is a red flag, and deferred-revenue liabilities belong in the price.
Source: Peak Business Valuation, gym and fitness multiples · Full guide
60% to 80% of collections (doctor-to-doctor)
Consolidator deals price on adjusted EBITDA instead, with sub-$1M-EBITDA practices reported around 5x to 7x; provider concentration is the leading deal-killer, and in most states only a licensed dentist can own the practice.
Source: Dental practice valuation reports (2025 to 2026) · Full guide
1.5x to 3.0x revenue by line
Personal-lines books run 1.5x to 2.0x revenue and commercial books 2.0x to 3.0x, with employee benefits above both; client retention is the dominant variable, and carrier appointments transfer only with carrier consent.
Source: Insurance agency valuation guidance (2026) · Full guide
2.3x to 2.9x SDE ($200K to $500K SDE tier)
Roughly 5x to 7x EBITDA at searcher size, with $1M-plus-EBITDA groups at 8x and above as consolidators bid; doctor production concentration decides transferability, and about eighteen states restrict non-veterinarian ownership.
Source: First Page Sage, veterinary practice multiples report (2025) · Full guide
~5% to 7.5% cap rates
Priced like real estate on stabilized NOI; searcher-sized deals in smaller markets trade 25 to 75 basis points wider than institutional bids, and economic occupancy (collections against gross potential rent) is the number that survives diligence.
2.5x to 4.5x SDE by channel
FBA-dependent businesses run 2.5x to 4x and Shopify-led DTC brands 3x to 4.5x, with repeat-purchase niches at the top; channel concentration is priced explicitly, and buyers underwrite 30% to 40% below peak-aggregator-era multiples.
2x to 4x SDE (under ~$1M ARR)
Low-churn, well-documented products above $10K MRR reach 4x to 6x SDE; churn differences of a few points translate into multiple-turn gaps, and ARR-based pricing belongs to growing, team-run companies, not founder-run products.
2.2x to 3.1x SDE
2025 marketplace averages ran near the top of the band with revenue multiples around 0.7x; labor stability, claims history, and the referral-versus-purchased-leads mix separate otherwise similar movers.
Source: Peak Business Valuation, moving company multiples · Full guide
2.5x to 4x SDE (owner-operated)
Sub-$3M-revenue companies run roughly 3x to 5x EBITDA with contracted commercial books above; storm and insurance-claim revenue is discounted to a reported 0.5x to 0.7x of the base-revenue multiple, the category's defining adjustment.
Source: Roofing valuation guidance (2026) · Full guide
2.1x to 3.0x SDE
Independents are commonly quoted at 1.5x to 3x with reported EBITDA bands near 2.8x to 3.7x; lease economics and documented earnings do the sorting, and combined prime cost under roughly 60% to 65% is the underwriting line.
Source: Peak Business Valuation, restaurant multiples · Full guide
2.9x to 3.7x SDE (before license and inventory)
Lender guidance commonly caps supportable pricing near 2.5x to 3x; the license adds 10% to 30% of deal value (more in quota and moratorium markets) and inventory is purchased separately at verified cost, so decompose every asking price.
Source: Peak Business Valuation, liquor store multiples · Full guide
4x to 8x EBITDA / $500 to $2,000 per door
Management-fee revenue multiples run 1x to 2.5x; auto-renewing contracts with 60-to-90-day termination notice support premiums, month-to-month books are discounted, and single-owner concentration above roughly 15% to 20% draws earnouts.
Source: Property management valuation guidance (2026) · Full guide
8x to 12x monthly recurring revenue
Translates to roughly 2x to 5.5x SDE; retention above 80%, autopay share, and route density (stops per day) set position in the band, and transfer mechanics with introduction periods protect the accounts you are paying for.
Source: Pool business multiples and valuation guide · Full guide
2.0x to 2.75x SDE
Owner-dependent shops trade below the band; documented, manager-run shops with a repeat customer base are reported at 3x and above. Technician retention is the capacity question behind every multiple.
Source: Peak Business Valuation, automotive repair multiples · Full guide
Turn a Band Into a Price
Multiply the earnings you actually believe (after reviewing add-backs) by a band position you can defend, then check the debt math in the SBA Acquisition Calculator and screen the deal itself with the Deal Screener.