What multiple do HVAC businesses sell for?
Band for owner-operated HVAC businesses under $1,000,000 of SDE. Source: sold-transaction comps (BizBuySell sold data and IBBA Market Pulse closed deals), never asking prices. Dataset v2026.07.0, refreshed 2026-07-06. Larger earnings move to higher bands: see the full multiples by industry reference.
Worked example: $400,000 of SDE at the typical 2.90x multiple prices around $1,160,000, inside a band of roughly $760,000 to $1,320,000.
What moves your multiple
Recurring service contracts are the single biggest multiple driver. Buyers pay for revenue that renews without selling.
A licensed crew that runs jobs without the owner moves you up the band. Owner-as-lead-tech pulls the multiple down.
Service and replacement work earns more than new-construction subcontracting, which buyers discount for cyclicality.
A qualifying party or transferable license keeps deals alive. Deals die in escrow over licensing more than price.
The calculator asks about these drivers directly, so your range reflects where your HVAC business actually sits in the band, not just the industry average.
Frequently asked questions
What multiple do HVAC businesses sell for?
Sold-transaction data puts HVAC businesses at roughly 1.90 to 3.30 times SDE (seller's discretionary earnings), with 2.90x as the typical mark for an owner-operated business under $1,000,000 of SDE. Where a specific business lands depends on the value drivers buyers actually price: recurring revenue, owner dependence, customer concentration, and team depth.
How do I calculate what my HVAC business is worth?
Multiply your SDE by the market multiple for your size and quality band. Example: a HVAC business with $400,000 of SDE at the typical 2.90x multiple prices around $1,160,000, inside a sold-comp band of roughly $760,000 to $1,320,000. The calculator does this with your numbers and shows which drivers push you up or down the band.
Do maintenance agreements really change what my HVAC business is worth?
Yes, more than any other single factor. A book of active maintenance agreements is transferable recurring revenue, and buyers finance against it. Two HVAC businesses with identical earnings can sit at opposite ends of the multiple band based on agreement count and renewal rate.
Is the calculator free?
Yes. The estimate and the PDF valuation report are free, and there is no obligation. BridgeBook only earns anything if we later represent your sale and it closes.
Know what your HVAC business is really worth
Free estimate, free PDF report, no obligation. If you decide to sell, you pay nothing unless your business sells.