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Manufacturing in the United States

This page gathers the figures we hold on manufacturing in the United States. Each section names its own source.

Each source groups industries its own way, so the edges of manufacturing differ a little from section to section.

What businesses sold for

The median and the middle half, in times EBITDA. The figure is the median. Under it are the middle half and the number of deals.
  1. Manufacturing8.5 times EBITDA, middle half 6.5 to 11.0, 100+ deals
  2. Aerospace and defence10.5 times EBITDA, middle half 8.5 to 12.0, 20+ deals
  3. Apparel manufacturing6.5 times EBITDA, 5+ deals
  4. Automotive parts6.0 times EBITDA, middle half 5.0 to 7.0, 20+ deals
  5. Building materials9.0 times EBITDA, middle half 7.5 to 11.5, 10+ deals
  6. Chemicals and plastics10.0 times EBITDA, middle half 8.0 to 11.0, 10+ deals
  7. Electronics manufacturing services7.5 times EBITDA, 5+ deals
  8. Food and beverage manufacturing10.5 times EBITDA, middle half 8.5 to 13.5, 20+ deals
  9. Industrial and engineered products8.5 times EBITDA, middle half 7.0 to 12.0, 20+ deals
  10. Medical devices14.0 times EBITDA, 5+ deals
  11. Pharmaceutical and health products10.0 times EBITDA, 5+ deals
Deal details

Manufacturing: median 8.5 times EBITDA. The middle half of deals ran from 6.5 to 11.0 times (100+ deals of US$6.7 million to US$333 million, announced 1999 to 2026).

Aerospace and defence: median 10.5 times EBITDA. The middle half of deals ran from 8.5 to 12.0 times (20+ deals of US$6.7 million to US$333 million, announced 2006 to 2024).

Apparel manufacturing: median 6.5 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2010 to 2017).

Automotive parts: median 6.0 times EBITDA. The middle half of deals ran from 5.0 to 7.0 times (20+ deals of US$6.7 million to US$333 million, announced 1999 to 2022).

Building materials: median 9.0 times EBITDA. The middle half of deals ran from 7.5 to 11.5 times (10+ deals of US$6.7 million to US$333 million, announced 2010 to 2022).

Chemicals and plastics: median 10.0 times EBITDA. The middle half of deals ran from 8.0 to 11.0 times (10+ deals of US$6.7 million to US$333 million, announced 2005 to 2022).

Electronics manufacturing services: median 7.5 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2012 to 2018).

Food and beverage manufacturing: median 10.5 times EBITDA. The middle half of deals ran from 8.5 to 13.5 times (20+ deals of US$6.7 million to US$333 million, announced 2001 to 2026).

Industrial and engineered products: median 8.5 times EBITDA. The middle half of deals ran from 7.0 to 12.0 times (20+ deals of US$6.7 million to US$333 million, announced 2008 to 2024).

Medical devices: median 14.0 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2015 to 2019).

Pharmaceutical and health products: median 10.0 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2010 to 2024).

Sizes are converted from our size range of A$10 million to A$500 million, at the fixed rate our database uses to place overseas deals: US$1 = A$1.50. The rate stays fixed, so the range always describes the same deals.

See what US businesses sell for, by sector.

These are deals for US businesses in our database, not every deal in the market.

Source: deals in our database with a published value. Counts by onestepright.

Compare sale multiples across countries.

Operating margins

In the four quarters to June 2026, operating profit came to 10.9% of sales across the industry's corporations. That is profit after depreciation, before interest and tax.

Corporations with $5 million or more of assets.

Every corporation in the survey is added together, so the figures are not a typical business. Outside manufacturing they are large companies. The margin is our calculation from the Census Bureau's figures.

Source: U.S. Census Bureau, Quarterly Financial Report, the four quarters to the second quarter of 2026. Margins computed by onestepright.

How many businesses are still active

Out of 100 businesses started in 2020

About 70 in every 100 were still active three years later.

The Census Bureau counts businesses with employees. The rate is our calculation from its counts.

Source: U.S. Census Bureau, Business Dynamics Statistics (2023 release). Survival computed by onestepright.

What costs did

What wage rates and input prices did in this industry. Each comes from its own BLS series and grouping of industries. The wage series holds the mix of jobs fixed, so it tracks pay rates.

What costs did, the year to June 2026
  1. Wage rates+3.3%

Each bar comes from its own BLS series, named below.

Source: U.S. Bureau of Labor Statistics, Employment Cost Index, wages and salaries, private industry, 12 months to June 2026.

No BLS price series measures this industry's inputs closely enough to show.

Prices businesses expect to charge

In September 2026, 51.4% of manufacturing businesses expected their prices to be higher six months on. Across all businesses, 38.4% did.

The Census Bureau asks businesses with employees every two weeks. Each business counts once, whatever its size.

Source: U.S. Census Bureau, Business Trends and Outlook Survey, 7 to 20 September 2026.

Sources: U.S. Census Bureau and U.S. Bureau of Labor Statistics. Figures marked as ours are onestepright's calculations from their published data.

See manufacturing in Australia.

See manufacturing in New Zealand.

See manufacturing in the United Kingdom.

See manufacturing in Canada.

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Manufacturing in the United States: deals, margins and costs · onestepright