Fact of the week
One figure each week, from official statistics or the deals in our database. Each names its source and links to the full figures.
Small US deals break the size rule
In Australia, New Zealand, the UK and Canada, bigger deals sell for higher multiples of EBITDA, band by band. The United States breaks the pattern at the small end. US deals under US$6.7 million sold at a median of 9.5 times EBITDA, from 30+ deals between 2005 and 2025. The next band up, US$6.7 million to US$33.3 million, sold at 7.5 times. Australian deals in the smallest band sold at 4.0 times.
Here is something interesting, and we are not sure what is going on. One guess: a small US deal reaches a public filing only in unusual cases, so the ones we can see may not be typical. That is a guess, and we have not tested it.