Wycena firm — Professional Services
Dla kogo jest ta wycena
Partners in consulting, accounting, legal, or marketing firms planning a sale or succession, and PE firms building professional services platforms through acquisition.
Co napędza wartość w branży Professional Services
- Revenue per billable professional (utilization × billing rate)
- Client retention rate and multi-year engagement concentration
- Partner dependency risk and depth of bench below founders
- Recurring retainer revenue versus project-based revenue
- Niche expertise or regulatory specialization that commands premium rates
- Brand reputation and referral network quality
Metody wycen, które stosujemy
Professional services firms are valued at 4–8× EBITDA, with premiums for recurring retainer models, niche specialization, and deep management teams. Revenue multiples of 0.5–1.5× provide a secondary check. This tool is informational only. Output is driven by your inputs and does not constitute a formal appraisal or certified valuation.
Typowe metryki i dane wejściowe
Revenue per professional
Annual revenue divided by total FTE professionals; benchmark varies by discipline ($150K–$500K+).
Utilization rate
Billable hours as a percentage of available hours; 65–75% is typical for healthy firms.
Retainer revenue %
Share of revenue from recurring monthly retainers versus project fees; higher retainer mix supports premium multiples.
EBITDA margin
Operating margin after partner compensation normalization; typically 15–30% for well-run firms.
Client concentration
Revenue share of top 5 clients; >30% in one client is a risk factor in any M&A process.
Przykładowe scenariusze
Boutique M&A advisory firm
A 10-person M&A advisory practice with $3 M revenue, 60% retainer mix, and 25% EBITDA margin might be valued at 5–7× EBITDA.
Marketing agency with anchor accounts
A digital marketing agency with $4 M revenue, two anchor clients (representing 35% of revenue combined), and 20% margins might trade at 4–5× EBITDA with a retention earn-out.
Często zadawane pytania
What multiple does a consulting firm sell for?
Typically 4–8× EBITDA for well-run firms with diversified clients; niche specialist firms or those with strong recurring revenue can reach 8–10×.
How is partner compensation handled in valuation?
Buyers normalize partner salaries to market rates before computing EBITDA. Excess compensation is added back; below-market comp is a red flag.
Does key-person risk affect the multiple?
Significantly - firms where 50%+ of revenue is attributable to one person require a substantial discount or an earn-out to bridge the risk gap.
How does recurring retainer revenue affect value?
Retainer revenue is treated more like SaaS ARR - predictable, sticky, and valued at a higher multiple than one-time project revenue.
Is this a certified appraisal?
No. ValueAlpha provides informational estimates. For formal transactions, engage an M&A advisor with professional services experience.
Uruchom swoją wycenę — Professional Services
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