Sde multiple by industry: Industry Valuation Multiples
The median published figure in the Industry Valuation Multiples is 1,500,000 USD across 7 sources' own pages in USD (range 750,000 to 2,000,000 USD; 8 sources publish a figure), read 10 November 2026.
8 of the 29 named sources read in full publish a figure; 21 publish none, read 10 November 2026.
The median is unchanged since 23 October 2026 (was 1,500,000 USD across 7).
By earnings base (SDE, EBITDA, revenue)
| Breakdown | Median | Range | Sources |
|---|---|---|---|
| earnings base (SDE, EBITDA, revenue) SDE to EBITDA crossover | 1,500,000 USD | 750,000 to 2,000,000 USD | 7 |
| earnings base (SDE, EBITDA, revenue) EBITDA | 9.55 transaction (one figure) | one figure, no range | 1 |
Every figure, with its source
One row per published figure: the figure as the source's own page publishes it, the page, and the day it was read. A figure that is not on a page we read is not on this one.
| Source | Figure | Breakdown | Read |
|---|---|---|---|
| East Coast Advisory valuation multiples by industry | 2,000,000 USD | SDE to EBITDA crossover | 2026-10-15 |
| BizWorth small business valuation multiples 2026 | 2,000,000 USD | SDE to EBITDA crossover | 2026-10-15 |
| Duran Advisors, what businesses actually sold for | 2,000,000 USD | SDE to EBITDA crossover | 2026-10-15 |
| CT Acquisitions SDE multiplier by industry | 1,500,000 USD | SDE to EBITDA crossover | 2026-10-15 |
| Breakwater M&A EBITDA multiples by industry | 1,000,000 USD | SDE to EBITDA crossover | 2026-10-15 |
| CT Acquisitions HVAC valuation multiples | 1,000,000 USD | SDE to EBITDA crossover | 2026-11-10 |
| Dental Transitions dental practice valuation multiples 2026 | 750,000 USD | SDE to EBITDA crossover | 2026-11-10 |
| Equidam EBITDA multiples by TRBC industry | 9.55 transaction | EBITDA | 2026-11-10 |
The sentence each figure was read from (8)
- East Coast Advisory valuation multiples by industry, read 2026-10-15:
The shift from SDE to EBITDA happens around the $2M revenue mark, when buyers start pricing in a hired manager instead of an owner-operator.
- BizWorth small business valuation multiples 2026, read 2026-10-15:
Very small businesses (“Main Street” deals under $2M): Often valued at about 2 to 3 times the owner’s annual earnings (called Seller’s Discretionary Earnings, or SDE).
- Duran Advisors, what businesses actually sold for, read 2026-10-15:
Q1 2026 medians: 2.0x, 2.8x, and 3.0x SDE for deals under $2M; 4.0x EBITDA for deals from $2M to $50M (IBBA / M&A Source Market Pulse, Q1 2026).
- CT Acquisitions SDE multiplier by industry, read 2026-10-15:
Above $1.5M of normalized earnings in most industries, the buyer pool shifts to LMM PE platforms that price to EBITDA at higher multiples (typically 1-2x higher, equating to 30-50% higher headline price).
- Breakwater M&A EBITDA multiples by industry, read 2026-10-15:
Above $1M, the market shifts to EBITDA because buyers assume they'll need to hire a replacement operator.
- CT Acquisitions HVAC valuation multiples, read 2026-11-10:
HVAC businesses in 2026 trade at 3x-5.5x SDE for owner-operator single-truck operations and 5x-12x EBITDA for PE-platform-ready operators above $1M EBITDA.
- Dental Transitions dental practice valuation multiples 2026, read 2026-11-10:
The valuation methodology often shifts from SDE to Adjusted EBITDA between roughly $750,000 and $1.0M of adjusted earnings, and this zone is where methodology can break down for sellers without dental-specific M&A representation.
- Equidam EBITDA multiples by TRBC industry, read 2026-11-10:
Testing Laboratories 9.55 Transaction & Payment Services 9.22
Read in full, publishes no figure
21 named sources were read in full on the dates shown and print no usable figure. They are counted, never filled in.
- BizBuySell industry valuation multiples, read 2026-09-12: every candidate on the page was refused
- IBBA Market Pulse highlights (Q3 2025), read 2026-09-12: read in full and no accepted figure on the page
- Damodaran (NYU Stern) enterprise value multiples by sector, read 2026-09-11: read in full and no accepted figure on the page
- Pepperdine Private Capital Markets Report 2026, read 2026-10-15: read in full and no accepted figure on the page
- Business Reference Guide, about our data, read 2026-11-10: every candidate on the page was refused
- FullRatio EBITDA multiples by industry, read 2026-10-15: read in full and no accepted figure on the page
- Eqvista EBITDA multiples across industries, read 2026-10-15: read in full and no accepted figure on the page
- Sundance Financial SDE multiples by industry, read 2026-09-12: every candidate on the page was refused
- Regalis Capital, what is my business worth, read 2026-09-15: every candidate on the page was refused
- Praxis Rock average EBITDA multiples by industry, read 2026-10-15: every candidate on the page was refused
- Palmstone Capital EBITDA multiples by industry, read 2026-09-15: every candidate on the page was refused
- The Deal Sheet valuation multiples by industry, read 2026-09-15: every candidate on the page was refused
- ValorSME EBITDA multiples by industry, read 2026-09-12: every candidate on the page was refused
- Ad Astra Equity restaurant EBITDA multiples, read 2026-11-10: every candidate on the page was refused
- Ad Astra Equity HVAC EBITDA multiples, read 2026-09-12: every candidate on the page was refused
- Horizon M&A HVAC business valuation 2026, read 2026-09-11: every candidate on the page was refused
- ClearlyAcquired EBITDA multiples for HVAC, plumbing and electrical, read 2026-10-15: every candidate on the page was refused
- Auxo Capital HVAC company valuation multiples, read 2026-10-15: every candidate on the page was refused
- Transitions Elite veterinary practice valuation, read 2026-09-12: every candidate on the page was refused
- Acquisition Stars restaurant valuation, read 2026-10-15: every candidate on the page was refused
- CT Acquisitions restaurant business valuation, read 2026-10-15: every candidate on the page was refused
Methodology
Every row is a verbatim sentence read from the named source's own page through our fetch service on the date shown, hash-pinned to the stored read (the sha of the page's visible text; the raw page is mirrored to R2).
8 of the 29 named sources that could be read published a usable figure; 21 published none and are recorded as not published, never filled in; 0 could not be read (blocked, dead or unreachable) and count nowhere.
The headline figures (median, minimum, maximum, quartiles) are over ONE figure per source in USD (a source's median where its page yielded several accepted sentences), so N counts sources, never sentences; 324 candidate sentence(s) were refused by a reviewer with the reason recorded.
The fuller derivation this dataset is chartered to grow into (not yet what the figures above are; they are each source's own published figure as read): one row per trade per earnings base (SDE, EBITDA, revenue): the median, low and high multiple ACROSS every publisher that states one, the spread between them, the count publishing, and the deal-size band at which the trade crosses from SDE to EBITDA - which no single publisher computes, because each publishes only its own range
324 candidate sentences on these pages were refused by a reviewer; each refusal and its reason is recorded in the review ledger.
Sources (29)
- BizBuySell industry valuation multiples(the publisher's own terms; quoted for reporting and comment)
- IBBA Market Pulse highlights (Q3 2025)(the publisher's own terms; quoted for reporting and comment)
- Damodaran (NYU Stern) enterprise value multiples by sector(the publisher's own terms; quoted for reporting and comment)
- Pepperdine Private Capital Markets Report 2026(the publisher's own terms; quoted for reporting and comment)
- Business Reference Guide, about our data(the publisher's own terms; quoted for reporting and comment)
- Equidam EBITDA multiples by TRBC industry(the publisher's own terms; quoted for reporting and comment)
- FullRatio EBITDA multiples by industry(the publisher's own terms; quoted for reporting and comment)
- Eqvista EBITDA multiples across industries(the publisher's own terms; quoted for reporting and comment)
- Sundance Financial SDE multiples by industry(the publisher's own terms; quoted for reporting and comment)
- CT Acquisitions SDE multiplier by industry(the publisher's own terms; quoted for reporting and comment)
- Regalis Capital, what is my business worth(the publisher's own terms; quoted for reporting and comment)
- BizWorth small business valuation multiples 2026(the publisher's own terms; quoted for reporting and comment)
- East Coast Advisory valuation multiples by industry(the publisher's own terms; quoted for reporting and comment)
- Praxis Rock average EBITDA multiples by industry(the publisher's own terms; quoted for reporting and comment)
- Breakwater M&A EBITDA multiples by industry(the publisher's own terms; quoted for reporting and comment)
- Palmstone Capital EBITDA multiples by industry(the publisher's own terms; quoted for reporting and comment)
- The Deal Sheet valuation multiples by industry(the publisher's own terms; quoted for reporting and comment)
- ValorSME EBITDA multiples by industry(the publisher's own terms; quoted for reporting and comment)
- Duran Advisors, what businesses actually sold for(the publisher's own terms; quoted for reporting and comment)
- Ad Astra Equity restaurant EBITDA multiples(the publisher's own terms; quoted for reporting and comment)
- Ad Astra Equity HVAC EBITDA multiples(the publisher's own terms; quoted for reporting and comment)
- CT Acquisitions HVAC valuation multiples(the publisher's own terms; quoted for reporting and comment)
- Horizon M&A HVAC business valuation 2026(the publisher's own terms; quoted for reporting and comment)
- ClearlyAcquired EBITDA multiples for HVAC, plumbing and electrical(the publisher's own terms; quoted for reporting and comment)
- Auxo Capital HVAC company valuation multiples(the publisher's own terms; quoted for reporting and comment)
- Dental Transitions dental practice valuation multiples 2026(the publisher's own terms; quoted for reporting and comment)
- Transitions Elite veterinary practice valuation(the publisher's own terms; quoted for reporting and comment)
- Acquisition Stars restaurant valuation(the publisher's own terms; quoted for reporting and comment)
- CT Acquisitions restaurant business valuation(the publisher's own terms; quoted for reporting and comment)
Cite or embed this figure
The median published figure in the Industry Valuation Multiples is 1,500,000 USD across 7 sources' own pages in USD (range 750,000 to 2,000,000 USD; 8 sources publish a figure), read 10 November 2026.
8 of the 29 named sources read in full publish a figure; 21 publish none, read 10 November 2026.
Industry Valuation Multiples, earnings base (SDE, EBITDA, revenue) SDE to EBITDA crossover: median 1,500,000 USD across 7 sources, read 10 November 2026.
Industry Valuation Multiples, earnings base (SDE, EBITDA, revenue) EBITDA: median 9.55 transaction across 1 source, read 10 November 2026.
The median is unchanged since 23 October 2026 (was 1,500,000 USD across 7).
Cite as: "bizworthcalculator.com Industry Valuation Multiples", updated 2026-11-12, https://bizworthcalculator.com/datasets/industry-valuation-multiples/.
Download the CSV (8 rows, computed 2026-11-12)
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Questions this data answers
What SDE, EBITDA and revenue multiple does a business in this industry actually sell at, and how far apart are the publishers?
The median published figure in the Industry Valuation Multiples is 1,500,000 USD across 7 sources' own pages in USD (range 750,000 to 2,000,000 USD; 8 sources publish a figure), read 10 November 2026.
What is the published figure for SDE to EBITDA crossover in the Industry Valuation Multiples?
For SDE to EBITDA crossover, the median published figure is $1,500,000 across 7 figures from the sources' own pages, from $750,000 to $2,000,000, read 10 Nov 2026.
Where do the figures in the Industry Valuation Multiples come from?
Every figure is quoted from its source's own page and dated (last read 10 Nov 2026). 29 named sources were read and 8 publish a figure; the 21 that publish none are recorded as not published, never estimated.