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What shops with $10,000,000 to $300,000,000 in sales keep, where our sold-deal data stops, and what a buyer checks at each size.
Figures: IRS tax year 2023Census through June 2026TagniFi, twelve months to the third quarter of 2025Market Pulse through Q2 2026Read November 12, 2026
The short answer: metal fabrication S corporations reported 10.9%[1] of sales as business profit in tax year 2023, by our math on IRS figures for every size, and 13.9% before interest, depreciation and amortization. That's above the 9.1% for all S corporations with $10,000,000 to $50,000,000 in sales[2]. At 13.9%, a made-up shop with $30,000,000 in sales makes $4,170,000, which our sold-deal data puts at $16,680,000 to $24,186,000. A buyer then asks how much of it repeats.
The first figure is what metal fabrication S corporations reported to the IRS as business profit, as a share of what they took in, before the owners' own income tax. It's every one of them taken together, losses included, so it isn't the middle shop.
The second adds back interest, depreciation and amortization, by our math on the same IRS lines. That's close to the EBITDA a buyer prices: yearly profit before interest, taxes, depreciation and amortization. Shops own a lot of machines, so depreciation is a big part of the gap. The IRS sorts its size rows by business receipts, which this page calls sales.
| Group | Business profit on tax returns | Before interest, depreciation and amortization |
|---|---|---|
| Fabricated metal product manufacturing all sizes | 10.9% | 13.9%* |
| Manufacturing all sizes | 9.0% | 11.7% |
| $10,000,000 to $50,000,000 | 7.3% | 9.1% |
| $50,000,000 to $250,000,000 | 6.1% | 8.0% |
| $250,000,000 or more | 5.9% | 8.2% |
* Includes gains on selling equipment, which the IRS doesn't publish for this industry.
Sorted by business receipts, which this page calls sales. Before interest, depreciation and amortization = (business profit + interest + depreciation + amortization − net gains on selling equipment) ÷ total receipts, by our math on IRS figures.[1][2]
Source: IRS Statistics of Income, Tax Year 2023[1]; IRS Statistics of Income, Tax Year 2023, released September 2026[2]. Industry rows cover every size of company. Size rows mix every industry.
Who can pay, and whether our data reaches the profit. Each size below is a made-up shop at the fabrication rate of 13.9%. That rate is for every size, because the IRS stopped publishing industry and size together after tax year 2013.
Our sold-deal data is IBBA and M&A Source Market Pulse[5]. Above $5,000,000 of sale price it has one group for all industries together, and it stops at companies that sold for $50,000,000. A shop at this rate passes that line before $100,000,000 in sales. Where a line says what buyers check, that's our practice, not a published study.
| Sales | IRS size row | Made-up EBITDA | Our sold-deal data |
|---|---|---|---|
| $10,000,000Near one SBA loan | 9.1%, $10,000,000 to $50,000,000 | $1,390,000 | $4,699,938 to $6,852,301 |
| $20,000,000Priced on EBITDA | 9.1%, $10,000,000 to $50,000,000 | $2,780,000 | $11,120,000 to $16,124,000 |
| $30,000,000Private equity range | 9.1%, $10,000,000 to $50,000,000 | $4,170,000 | $16,680,000 to $24,186,000 |
| $50,000,000Next IRS size band | 8.0%, $50,000,000 to $250,000,000 | $6,950,000 | $27,800,000 to $40,310,000 |
| $100,000,000Past our data | 8.0%, $50,000,000 to $250,000,000 | $13,900,000 | Past our data |
| $200,000,000Past our data | 8.0%, $50,000,000 to $250,000,000 | $27,800,000 | Past our data |
| $300,000,000IRS top band | 8.2%, $250,000,000 or more | $41,700,000 | Past our data |
Source: IRS Statistics of Income, Tax Year 2023, released September 2026[2]; IRS Statistics of Income, Tax Year 2023[1]; IBBA and M&A Source, Second quarter of 2026[5]. Made-up examples at the IRS fabrication rate of 13.9%. Our figures checked November 2, 2026.
A shop with $10,000,000 in sales at the IRS fabrication rate, 13.9%, would make $1,390,000 a year before interest, depreciation and amortization, more than manufacturing as a whole. In this made-up case the sold-deal data behind our calculator puts it at $4,699,938 to $6,852,301, on a blend of owner's earnings and EBITDA.[1]
One SBA 7(a) loan tops out at $5,000,000[6], so a buyer borrowing with SBA backing reaches the bottom of that range, not the top. A buyer with more of their own money, or a company in the trade, reaches the rest.
Then there are your own employees. An ESOP is a trust that buys shares for the people who work there, and manufacturing is the largest industry among them, at 20%[8]. NCEO counts companies with fewer than 20 to 30 employees and $1,000,000 of EBITDA as poor candidates[7], and this made-up shop's profit is over that bar.
In our practice the first worry at this size is the owner. If you price the jobs, program the machines and know every customer's buyer, a buyer asks who does that the day after closing.
Across every industry: what a company with $10,000,000 in sales is worth.
A made-up shop with $20,000,000 in sales at the fabrication rate of 13.9% makes $2,780,000. Our sold-deal data puts that at $11,120,000 to $16,124,000, now priced on EBITDA, because at this profit a buyer expects to pay a manager to run it.[1]
That range runs up to about what search funds pay. A search fund is one or two people, backed by investors, who buy one company and run it. Stanford counts a median price of $16,000,000[9] for U.S. and Canadian search fund purchases in 2024 and 2025.
The Census Bureau's own survey lands near the IRS rate. Fabricated metal makers with under $50,000,000 of assets, public and private companies together, earned 10.6%[3] on operations in the year to June 2026, or 13.3% with depreciation added back.
Quality paperwork starts to count here, in our practice. If you hold ISO 9001, or AS9100 for aerospace work, a buyer reads the last audit and your scrap and on-time delivery figures.
Across every industry: what a company with $20,000,000 in sales is worth.
At $30,000,000 in sales and 13.9%, a made-up fabricator makes $4,170,000. Our sold-deal data puts that at $16,680,000 to $24,186,000, a price private equity funds pay.[1]
TagniFi, a deal database, lists fabricated metal products among the most active industries for deals of $10,000,000 to $100,000,000 of company value. Its figure is below, as TagniFi prints it. A multiple is the price divided by a year of EBITDA.
Other publishers' figures, not ours
Offers at this size often hold part of the price back as an earnout: money paid later only if targets are met. It can be a large part. In SRS Acquiom's deals of $50,000,000 or less, the median earnout could add 57%[11] of the closing payment.
In our practice, customer spread gets its own hour. If one equipment maker or one program buys a large share of what you ship, a buyer asks for the purchase agreements and how long each part number has run.
Across every industry: what a company with $30,000,000 in sales is worth.
A $50,000,000 fabricator sits in the IRS band of $50,000,000 to $250,000,000, where S corporations of every kind reported 8.0% before interest, depreciation and amortization. At its own industry's 13.9%, a made-up shop makes $6,950,000, and our sold-deal data puts that at $27,800,000 to $40,310,000.[1]
Our data reaches a shop at this rate up to about $62,000,000 in sales. Past that, we stop putting a figure on it.
Many buyers now insure your written promises about the company instead of holding back a large share of the price. That's reps and warranties insurance. Gallagher says buyers often buy cover equal to 10%[12] of company value, at a premium of about 3% of the cover. SRS Acquiom found it on about 42%[13] of 2024 deals.
Metal prices come up too, in our practice. A buyer reads how your quotes and contracts pass a rise in steel or aluminum on to customers, and how fast.
Across every industry: what a company with $50,000,000 in sales is worth.
A fabricator with $100,000,000 in sales is past the sold-deal data behind our calculator. At the IRS fabrication rate, 13.9%, a made-up shop this size makes $13,900,000. That's about one and a half times what the data can price, so we don't put a figure on it. Your next step is a call with a dedicated advisor.[1]
Other publishers do publish figures by company value at this size. The rows nearest this shop's profit are marked. None of them is a price for your company.
Other publishers' figures, not ours
| Company value | Multiple of EBITDA | Statistic | Buyers | Period | Publisher |
|---|---|---|---|---|---|
| $100,000,000 to $250,000,000Near yours | 10.0x | Average | Private equity, platform buyouts | Through the third quarter of 2025 | GF Data[14] |
| $50,000,000 to $200,000,000Near yours | 9.0x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
| $50,000,000 to $200,000,000, manufacturing | 10.0x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
These figures come from outside reports, not from BridgeBook's own data: each one counts different deals in its own way, so read them as a guide to the market, not as a price for your company.
Funds buying at this size often ask you to keep part of the price as shares in the company they form. That's called rollover. Goodwin counted it in 57%[16] of its 2023 private equity deals of $25,000,000 to $500,000,000. The shares you keep may be a different class from the fund's, with different rights, CLA notes[17].
A shop this size usually runs more than one building, in our experience, and a buyer walks each one. Book a call before the first fund calls.
Across every industry: what a company with $100,000,000 in sales is worth.
Few fabricators reach $200,000,000 in sales. One that did, at the IRS fabrication rate of 13.9%, would make $27,800,000 in this made-up case, more than three times the profit our sold-deal data can price. So there's no figure of ours here, only other publishers' below, and a call.[1]
The Census Bureau counted 5,751[4] fabricated metal employer firms with $10,000,000 to $99,999,999 in sales in 2022. A $200,000,000 shop sits above that whole group.
Other publishers' figures, not ours
| Company value | Multiple of EBITDA | Statistic | Buyers | Period | Publisher |
|---|---|---|---|---|---|
| $100,000,000 to $250,000,000Near yours | 10.0x | Average | Private equity, platform buyouts | Through the third quarter of 2025 | GF Data[14] |
| $100,000,000 to $500,000,000 | 9.8x against 7.0x under $100,000,000 | Average | Private equity, platform buyouts | Through the third quarter of 2025 | GF Data[14] |
| $200,000,000 to $500,000,000Near yours | 11.4x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
Expect a sale in stages. The letter of intent, the buyer's written offer, is usually not binding apart from parts like confidentiality and exclusivity[18]. Exclusivity is a set time when you can't talk to other buyers. Baker McKenzie says it commonly runs 30 to 60 days after the letter is signed.
A call is where we'd start: who the likely buyers are, and what they'd want to see first.
Across every industry: what a company with $200,000,000 in sales is worth.
At $300,000,000 in sales a fabricator is in the IRS top band, $250,000,000 or more, where S corporations reported 8.2% before interest, depreciation and amortization. Fabrication's own 13.9% gives a made-up shop $41,700,000 of EBITDA, nearly five times what our sold-deal data reaches, so we don't put a figure on it.[1]
Watch how long exclusivity runs. In Goodwin's private equity deals, exclusivity of 61 days or more went from about 6%[19] in 2021 to nearly 40% in 2022. In a hot auction, the same firm notes, buyers often get none[19]. Several buyers bidding at once is what keeps that time short.
Other publishers' figures, not ours
| Company value | Multiple of EBITDA | Statistic | Buyers | Period | Publisher |
|---|---|---|---|---|---|
| $100,000,000 to $500,000,000 | 9.8x against 7.0x under $100,000,000 | Average | Private equity, platform buyouts | Through the third quarter of 2025 | GF Data[14] |
| $200,000,000 to $500,000,000Near yours | 11.4x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
Our sold-deal data doesn't reach this size, so the first step is a conversation. Book a call about your plants, your customers and who'd buy all of them together.
Across every industry: what a company with $300,000,000 in sales is worth.
Whether the machines, the people and the customers will still be there in three years, and what keeping them costs. This list is our own practice, not a published study.
Margin first, then how much of it repeats. A shop running above the fabrication rate of 13.9% has room a buyer can see. This list is our view, not a study.
Why bigger deals tend to carry bigger multiples is its own question. Here's what we know about it.
TagniFi publishes a fabricated metal row from its most active industries, and manufacturing as a whole by deal size. Its figures are below, as TagniFi reports them, with the older sector list beside the newer table.
Other publishers' figures, not ours
| Company value | Multiple of EBITDA | Statistic | Buyers | Period | Publisher |
|---|---|---|---|---|---|
| $10,000,000 to $100,000,000, fabricated metal products | 6.1x | As printed | All buyers | Twelve months to the third quarter of 2025 | TagniFi[10] |
| $10,000,000 to $50,000,000, manufacturing | 7.3x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
| $50,000,000 to $200,000,000, manufacturing | 10.0x | Median | All buyers | Twelve months to March 31, 2026 | TagniFi[15] |
These figures come from outside reports, not from BridgeBook's own data: each one counts different deals in its own way, so read them as a guide to the market, not as a price for your company.
Source: TagniFi (PR Newswire), Twelve months to the third quarter of 2025[10]; TagniFi, Twelve months to March 31, 2026[15].
Those are other publishers' figures, sorted by what companies sold for, not by sales. We don't hold a fabrication figure of our own at this size, so we don't print one.
A made-up example: a shop has $25,000,000 in sales at the fabrication rate of 13.9%, so $3,475,000 of EBITDA. Our sold-deal data puts that at $13,900,000 to $20,155,000, with a typical figure of $17,027,500.
Now say the buyer finds two machines due for replacement in the first year, at $1,200,000 together. If the buyer takes that straight off the price, the typical figure becomes $15,827,500. Know your replacement list before the buyer writes it for you. Put in your own sales and margin below.
Industry: Metal fabrication and machine shops
IRS, metal fabrication and machine shops S corporations of every size, tax year 2023, our math. Change it to yours. Includes gains on selling equipment, which the IRS doesn't publish for this industry.
A made-up example at the IRS rate
A made-up example: 13.9% of $20,000,000 in yearly sales. EBITDA is yearly profit before interest, taxes, depreciation and amortization.
Our sold-deal data puts that EBITDA at
$11,120,000 to $16,124,000
Typical $13,622,000, priced on EBITDA.
IBBA and M&A Source Market Pulse, closed deals of $5,000,000 to $50,000,000. Typical is the middle of its recent readings. Our figures checked November 2, 2026.
Other publishers' figures, not ours
| Company value | Multiple of EBITDA | Publisher |
|---|---|---|
| $10,000,000 to $25,000,000Near yours | 5.9x | GF Data, average, through the third quarter of 2025 |
| $25,000,000 to $50,000,000 | 6.6x | GF Data, average, through the third quarter of 2025 |
| $50,000,000 to $100,000,000 | 8.7x | GF Data, average, through the third quarter of 2025 |
| $100,000,000 to $250,000,000 | 10.0x | GF Data, average, through the third quarter of 2025 |
| $1,000,000 to $10,000,000 | 5.5x | TagniFi, median, twelve months to March 31, 2026 |
| $10,000,000 to $50,000,000Near yours | 7.3x | TagniFi, median, twelve months to March 31, 2026 |
| $50,000,000 to $200,000,000 | 9.0x | TagniFi, median, twelve months to March 31, 2026 |
| $200,000,000 to $500,000,000 | 11.4x | TagniFi, median, twelve months to March 31, 2026 |
These figures come from outside reports, not from BridgeBook's own data: each one counts different deals in its own way, so read them as a guide to the market, not as a price for your company.
At this profit you can book a call with a dedicated advisor.
The valuation asks your sales and profit again, then your name, email and cell phone, and shows a range.
On a first call, your dedicated advisor goes through your numbers with you and, if you like, your controller. In a shop, four things come first.
Then your advisor tells you what the sold-deal data says about your profit, or says plainly that your size is past it. Often the number is lower than an owner hopes. It's the one a buyer's accountants will test.
A shop with $10,000,000 in sales at the IRS fabrication rate, 13.9%, would make $1,390,000 a year before interest, depreciation and amortization, more than manufacturing as a whole. In this made-up case the sold-deal data behind our calculator puts it at $4,699,938 to $6,852,301, on a blend of owner's earnings and EBITDA.
A made-up shop with $20,000,000 in sales at the fabrication rate of 13.9% makes $2,780,000. Our sold-deal data puts that at $11,120,000 to $16,124,000, now priced on EBITDA, because at this profit a buyer expects to pay a manager to run it.
At $30,000,000 in sales and 13.9%, a made-up fabricator makes $4,170,000. Our sold-deal data puts that at $16,680,000 to $24,186,000, a price private equity funds pay.
A $50,000,000 fabricator sits in the IRS band of $50,000,000 to $250,000,000, where S corporations of every kind reported 8.0% before interest, depreciation and amortization. At its own industry's 13.9%, a made-up shop makes $6,950,000, and our sold-deal data puts that at $27,800,000 to $40,310,000.
A fabricator with $100,000,000 in sales is past the sold-deal data behind our calculator. At the IRS fabrication rate, 13.9%, a made-up shop this size makes $13,900,000. That's about one and a half times what the data can price, so we don't put a figure on it. Your next step is a call with a dedicated advisor.
Few fabricators reach $200,000,000 in sales. One that did, at the IRS fabrication rate of 13.9%, would make $27,800,000 in this made-up case, more than three times the profit our sold-deal data can price. So there's no figure of ours here, only other publishers' below, and a call.
At $300,000,000 in sales a fabricator is in the IRS top band, $250,000,000 or more, where S corporations reported 8.2% before interest, depreciation and amortization. Fabrication's own 13.9% gives a made-up shop $41,700,000 of EBITDA, nearly five times what our sold-deal data reaches, so we don't put a figure on it.
Metal fabrication S corporations reported about 13.9% before interest, depreciation and amortization in tax year 2023, by our math on IRS figures for every size. That figure includes gains on selling equipment. A well-run shop should beat it.
More for manufacturers: selling a larger manufacturer and who buys a company your size.
The sold-deal data behind our calculator: IBBA and M&A Source Market Pulse, closed deals. Our figures checked November 2, 2026.
Percentages are BridgeBook's arithmetic on the IRS dollar figures.
Outside figures are other publishers', named and dated, and they don't feed our calculator. How we use outside figures
The valuation starts with metal fabrication picked. It asks a few short questions, your sales and profit among them, then your name, email and cell phone, and shows a range, not one number.
Your exit credit comes off our success fee at closing and grows with your yearly sales: $5,000 under $5,000,000 in sales ($2,500 for your valuation report, plus $2,500 for your advisor call or for starting your listing), up to $50,000 at $100,000,000 or more.
Get an initial range and a clearer starting point for your plans.
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