Management Consulting Firm — Business Valuation Multiple
EBITDA Valuation Guide · Small & Mid-Sized Businesses
Actual EBITDA multiples can vary materially based on EBITDA size, growth, recurring revenue, margins, customer concentration, owner dependence, geography and other company-specific factors.
Min
3×
Typical
4.5×
Max
6×
Revenue Model
Project-based
Capital Intensity
Low
A typical multiple of 4.5× EBITDA reflects mid-market transactions in the $1–$50M revenue range.
Overview
Management consulting businesses typically sell for 3×–6× EBITDA. Niche sector expertise, strong repeat engagement rates, and retainer-based income are key value drivers. Businesses with an experienced senior team that can sustain relationships beyond the founder and a demonstrable track record of client outcomes attract the upper end. Project-based revenue models with no recurring income create predictability risk that buyers discount heavily.
Key Value Drivers
- Niche expertise in high-demand sector
- Repeat engagements and retainer relationships
- Low capital expenditure requirements
- Strong utilisation rates and billing discipline
- Experienced senior team beyond founder
Key Risks
- Heavily dependent on founder relationships
- Project-based revenue with limited predictability
- Talent retention in competitive market
- Client concentration
- Scope creep and margin erosion
Related Industries
Real-World Transaction
Kvadrant Consulting → Elixirr International
2026 · Management Consulting
Hypothesis Group → Elixirr International
2024 · Management Consulting
E3 Advisory → Ricardo plc
2025 · Management Consulting
These transactions involved companies substantially larger than the $1–$50M SME benchmark and are shown for context, not direct comparison.
Disclaimer: All multiples are indicative estimates only and are not formal valuations or investment advice. They should not be relied upon for financial decision-making without independent professional advice.