What Canadian businesses sell for, by sector
Each line comes from Canadian businesses in our database that were bought. Most come from management circulars and the valuations in them, and from the earlier deals those valuations cite. Each sector shows the median deal and the middle half of its deals.
Deals updated October 2026
Sectors with enough deals to show
- Financial and insurance services14.5 times EBITDA, 5+ deals
- Manufacturing8.0 times EBITDA, middle half 5.0 to 10.5, 30+ deals
- Technology, software, media and telecommunications8.0 times EBITDA, middle half 6.0 to 12.0, 20+ deals
- Transport, postal and warehousing7.0 times EBITDA, 5+ deals
- Arts and recreation6.0 times EBITDA, 5+ deals
- Construction4.5 times EBITDA, 5+ deals
- Mining4.0 times EBITDA, middle half 3.5 to 8.0, 20+ deals
- Wholesale trade4.0 times EBITDA, 5+ deals
Source: Canadian deals in our database with a published value and an EBITDA multiple, mostly from management circulars and the valuations in them. Medians by onestepright.
What Canadian businesses sold for, as multiples of EBITDA. Each row is a sector with enough deals to show.
| Sector | Median (times EBITDA) | Middle half | Deals | Years |
|---|---|---|---|---|
| All sectors | 7.5 | 5.0 to 9.5 | 100+ | 2002 to 2026 |
| Manufacturing | 8.0 | 5.0 to 10.5 | 30+ | 2003 to 2026 |
| Building materials | 6.5 | Median only | 5+ | 2019 to 2026 |
| Food and beverage manufacturing | 10.5 | 8.5 to 12.5 | 10+ | 2005 to 2025 |
| Industrial and engineered products | 5.0 | 4.5 to 10.0 | 10+ | 2010 to 2025 |
| Pharmaceutical and health products | 10.0 | Median only | 5+ | 2014 to 2026 |
| Other | 9.0 | 6.5 to 10.0 | 10+ | 2014 to 2024 |
| Mining | 4.0 | 3.5 to 8.0 | 20+ | 2011 to 2026 |
| Oilfield services | 3.0 | Median only | 5+ | 2013 to 2025 |
| Other | 8.0 | Median only | 5+ | 2013 to 2024 |
| Technology, software, media and telecommunications | 8.0 | 6.0 to 12.0 | 20+ | 2002 to 2026 |
| IT services | 6.0 | Median only | 5+ | 2015 to 2022 |
| Other | 10.0 | 7.0 to 13.5 | 10+ | 2002 to 2026 |
| Retail trade, other | 8.0 | 7.0 to 9.5 | 10+ | 2014 to 2024 |
| Arts and recreation | 6.0 | Median only | 5+ | 2016 to 2026 |
| Construction | 4.5 | Median only | 5+ | 2020 to 2025 |
| Financial and insurance services | 14.5 | Median only | 5+ | 2016 to 2025 |
| Professional, scientific and technical services, other | 9.0 | Median only | 5+ | 2014 to 2023 |
| Transport, postal and warehousing | 7.0 | Median only | 5+ | 2014 to 2021 |
| Wholesale trade | 4.0 | Median only | 5+ | 2015 to 2026 |
Rows cover deals of C$9.1 million to C$455 million unless the Years column names another size.
Only deals with a published value count in a size band.
Median only means fewer than ten deals, so no middle half is shown.
Most of these deals come from listed companies' circulars to shareholders and the valuations in them. Treat them as a rough guide to what buyers paid for larger businesses.
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: C$1 = A$1.10. The rate stays fixed, so the range always describes the same deals.
Download these multiples as a CSV file, with every figure in the table above and the median at each deal size.
What size does to the price
Larger businesses sell at higher multiples of EBITDA. This chart shows the median multiple at each deal size, for Canada deals in our database.
- Under C$9.1m4.5 times EBITDA, middle half 3.5 to 7.0, 30+ deals
- C$9.1m to C$45.5m5.5 times EBITDA, middle half 4.0 to 6.5, 30+ deals
- C$45.5m to C$227m8.0 times EBITDA, middle half 5.5 to 10.0, 50+ deals
- C$227m to C$909m9.0 times EBITDA, middle half 7.0 to 10.5, 50+ deals
- Over C$909m11.0 times EBITDA, middle half 8.5 to 13.0, 100+ deals
Source: deals in our database with a published value and an EBITDA multiple, from company filings, experts' reports and press reports. Medians by onestepright.
| Deal size (A$) | Median (times EBITDA) |
|---|---|
| Under C$9.1m | 4.5 times EBITDA, middle half 3.5 to 7.0, 30+ deals |
| C$9.1m to C$45.5m | 5.5 times EBITDA, middle half 4.0 to 6.5, 30+ deals |
| C$45.5m to C$227m | 8.0 times EBITDA, middle half 5.5 to 10.0, 50+ deals |
| C$227m to C$909m | 9.0 times EBITDA, middle half 7.0 to 10.5, 50+ deals |
| Over C$909m | 11.0 times EBITDA, middle half 8.5 to 13.0, 100+ deals |
The bands are our Australian bands, converted at the fixed rate our database uses to place overseas deals: C$1 = A$1.10. The rate stays fixed, so each band always describes the same deals.
What multiple will my business sell for?
Canadian businesses bought between 2002 and 2026 sold for a median of 7.5 times EBITDA, across 100+ deals. Most came from listed companies' circulars. A buyer sets each business's own multiple.
What is an EBITDA multiple by industry?
It is enterprise value divided by EBITDA, for the businesses bought in one industry. The table gives the median and the middle half for each sector with enough deals.
What is EV/EBITDA?
EV/EBITDA is enterprise value, what a buyer pays for the whole business including its debt, divided by earnings before interest, tax, depreciation and amortisation.
How to read the range
The median is the middle deal. Half the deals sold for more and half for less. Where a line gives a middle half, a quarter of the deals sold below it and a quarter sold above it.
The band says how many deals stand behind the line. A band of 5+ means at least five. Under ten deals, a line shows the median only. Fewer deals leave more room for error, so read a 5+ line with more care than a 50+ one.
The years are when the deals were announced. Multiples rise and fall with interest rates and share prices, so a long span mixes strong years with weak ones.
A buyer applies the multiple to the EBITDA it accepts after due diligence. Two businesses with the same EBITDA can sell at different multiples, for the reasons below.
How listed companies compare
Listed companies trade every day, and most are larger than the businesses in these deals. Their multiples usually sit above what a private business sells for. Read them as context for the deal figures.
Listed companies in Australia, New Zealand and Canada traded at 12.0 times their combined EBITDA in January 2026. Source: Aswath Damodaran, NYU Stern, data as of January 2026.
Where would yours sit?
The range tells you where deals landed. Where would yours sit?
- Put your own figures through the exit value bridge. It splits value at exit into EBITDA growth, the change in multiple and lower net debt, on multiples you choose.
- Take the seller check. About twenty-five questions on what a buyer's team will ask, before they ask it.
- Take the Strategy check. A buyer prices the plan it believes. The check shows where your strategy practices stand.
No email before your result. No sales call after it. No list. Delete on request.
Questions
Does this value my business? No. It shows what buyers paid for other Canadian businesses in the sector. A buyer sets the multiple for a particular business after testing its earnings, its customers and its plan.
Where do the figures come from? Mostly from the management circulars listed companies send their shareholders, the valuations in them, and the earlier deals those valuations cite. Each figure is enterprise value over EBITDA. Some are stated in the source. The rest are worked out from the price and earnings it reports.
Why do these deals lean to larger businesses? A listed company's circular describes a large deal, often with a valuation. Private sales of smaller businesses rarely publish a multiple.
How often do the figures change? Whenever deals are added. Each page shows the date it was last updated.