Technology, software, media and telecommunications in the United States
This page gathers the figures we hold on technology, software, media and telecommunications in the United States. Each section names its own source.
Each source groups industries its own way, so the edges of technology, software, media and telecommunications differ a little from section to section.
- Median sale multiple8.0times EBITDA
- Operating margin18.1%share of sales, the four quarters to June 2026
- Wage rate change+2.9%the year to June 2026
What businesses sold for
- Technology, software, media and telecommunications8.0 times EBITDA, middle half 6.0 to 12.5, 50+ deals
- Broadcasting (TV and radio)6.5 times EBITDA, 5+ deals
- Digital media and online platforms7.0 times EBITDA, 5+ deals
- IT services9.0 times EBITDA, middle half 6.0 to 11.5, 10+ deals
- Networking and communications equipment13.0 times EBITDA, 5+ deals
- Publishing and print media5.0 times EBITDA, middle half 4.0 to 6.0, 10+ deals
- Semiconductors and electronics10.5 times EBITDA, 5+ deals
- Software13.5 times EBITDA, 5+ deals
- Telecommunications and networks7.0 times EBITDA, middle half 6.0 to 12.0, 10+ deals
Deal details
Technology, software, media and telecommunications: median 8.0 times EBITDA. The middle half of deals ran from 6.0 to 12.5 times (50+ deals of US$6.7 million to US$333 million, announced 2009 to 2025).
Broadcasting (TV and radio): median 6.5 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2016 to 2019).
Digital media and online platforms: median 7.0 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2016 to 2024).
IT services: median 9.0 times EBITDA. The middle half of deals ran from 6.0 to 11.5 times (10+ deals of US$6.7 million to US$333 million, announced 2012 to 2022).
Networking and communications equipment: median 13.0 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2009 to 2024).
Publishing and print media: median 5.0 times EBITDA. The middle half of deals ran from 4.0 to 6.0 times (10+ deals of US$6.7 million to US$333 million, announced 2011 to 2020).
Semiconductors and electronics: median 10.5 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2012 to 2025).
Software: median 13.5 times EBITDA (5+ deals of US$6.7 million to US$333 million, announced 2014 to 2024).
Telecommunications and networks: median 7.0 times EBITDA. The middle half of deals ran from 6.0 to 12.0 times (10+ deals of US$6.7 million to US$333 million, announced 2009 to 2021).
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 18.1% of sales across the industry's corporations. That is profit after depreciation, before interest and tax.
Information (NAICS 51), corporations with $50 million or more of assets only.
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
About 58 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.
Each bar comes from its own BLS series, named below.
Wage rates in information, the BLS group nearest technology, software, media and telecommunications, rose 2.9% in the year to June 2026.
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, 28.8% of technology, software, media and telecommunications businesses expected their prices to be higher six months on. Across all businesses, 38.4% did.
Information (NAICS 51); computer systems design and hardware makers sit in other sectors in NAICS.
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 technology, software, media and telecommunications in Australia.
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See technology, software, media and telecommunications in the United Kingdom.
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