How are you seeing EBITDA multiples shift across service businesses in 2025?

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November 23, 2025

by a searcher from Instituto Tecnológico de Buenos Aires in United States

For those actively looking at deals: what are you seeing in terms of EBITDA multiples for mid service businesses (~$50M revenue)? Are multiples tightening? What are buyers looking for (asset light models, recurring revenue, etc.)?
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Reply by a searcher
from Iowa State University of Science and Technology in Chicago, IL, USA
It’s whatever you think it’s worth however, 3-5 times is standard. 50M plus could be 3-7 times. The multiple increase causation varies. In my case it’s due to international companies getting involved. Anything above 6 is overpriced. Me personally, anything over 5 is overpriced. Cashflow is all that matters….
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Reply by a searcher
from Ivey Business School at Western University in Toronto, ON, Canada
I am seeing the standard 4-6x multiples for 5M revenues. Surprisingly I am seeing a bunch of companies with profits that are going down quite a bit.
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