Logistics & Transportation Business Valuation
Who this is for
Trucking and logistics company owners preparing for sale, PE firms assembling regional logistics platforms, and strategic acquirers evaluating last-mile or dedicated carrier acquisitions.
What drives value in Logistics & Transport
- Asset utilization rate and revenue per truck per mile
- Dedicated versus spot market revenue mix
- Fleet age, owned versus leased composition, and maintenance costs
- Driver retention and cost per mile versus industry benchmarks
- Contract coverage and shipper relationship depth
- Technology platform — TMS, ELD compliance, and route optimization
Valuation methods we use
Asset-based carriers are valued on EBITDA multiples (4–8×) with asset value as a floor. Revenue multiples (0.3–0.8×) and per-truck valuations provide secondary benchmarks. This tool is informational only. Output is driven by your inputs and does not constitute a formal appraisal or certified valuation.
Typical metrics and inputs
Revenue per truck (annual)
Annual revenue divided by total truck count; productivity benchmark across fleet types.
Operating ratio
Operating expenses as a percentage of revenue; below 90% is considered efficient for trucking.
EBITDA margin
Pre-D&A margin; typically 8–18% for well-run carriers; lower for asset-heavy commodity carriers.
Driver retention rate
Annual driver retention percentage; high turnover inflates recruiting and training costs.
Dedicated revenue %
Revenue under dedicated or contract arrangements versus spot market; higher dedicated mix reduces revenue volatility.
Example scenarios
Regional dedicated carrier
A 50-truck regional carrier with 75% dedicated revenue, $12 M total revenue, and a 14% EBITDA margin might be valued at 5–7× EBITDA.
Spot-heavy general freight carrier
A 30-truck general freight carrier with heavy spot exposure and 8% EBITDA margins might trade at 4–5× EBITDA or near fleet replacement value.
Frequently asked questions
What multiple does a trucking company sell for?
4–7× EBITDA is typical. Specialized carriers (refrigerated, flatbed, hazmat) and those with dedicated contracts command the upper end.
How does fleet ownership affect valuation?
Owned fleet creates an asset base that sets a valuation floor, but also increases CapEx burden. Buyers weigh fleet age and replacement cost carefully.
Does driver shortage impact logistics valuations?
Yes — businesses with low driver turnover and established recruiting pipelines command premiums due to the sustained driver shortage in the industry.
What is an 'operating ratio' and why does it matter?
Operating ratio (expenses / revenue) measures efficiency. Below 90% is good; above 95% indicates a structurally challenged business.
Is this a certified appraisal?
No. This tool provides informational estimates. For formal logistics M&A, engage a transportation industry advisor.
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