An indicative range built on conservative multiples from Singapore SME transactions, not listed companies or asking prices. It takes about two minutes. No email, and nothing you enter leaves this page.
We start from profit before tax, add back interest, depreciation and what you pay yourself, then deduct a market salary for someone to do your job. That gives normalised EBITDA: what a new owner could expect to earn. In Singapore SME deals this step alone often cuts reported profit by 20% to 45%.
Each sector has a low, typical and high multiple of normalised EBITDA, set for owner-operated businesses earning S$0.5m to S$1.5m. Below S$300,000 of normalised EBITDA we switch to owner earnings (healthcare and wellness 1.0x to 2.75x, F&B 1.0x to 2.5x, business services 2.0x to 3.2x, other sectors 1.5x to 3.0x), because that is how buyers price smaller businesses.
Smaller businesses sell for less, so we take half a turn off below S$500,000 and add half a turn above S$1.5m. Then five answers move the multiple: dependence on you, recurring revenue, customer concentration, profit trend and transferability. Weaknesses cost more than strengths add, because that is how buyers behave.
Enterprise value is not what lands in your account. We deduct debt and customer prepayments, add surplus cash and stock where relevant, and show the share typically paid at completion. For asset-heavy businesses, net tangible assets act as a floor.
Enterprise value as a multiple of normalised EBITDA, for Singapore owner-operated businesses earning S$0.5m to S$1.5m. Drawn from closed Singapore SME transactions where price and earnings were disclosed, cross-checked against overseas small-business deal data. Listed-company multiples and asking prices are used only as a ceiling, never as an anchor.
| Sector | Low | Typical | High | Evidence |
|---|---|---|---|---|
| Healthcare | ||||
| Dental practice | 3.0x | 4.0x | 5.5x | Medium |
| GP or family clinic | 2.0x | 3.0x | 4.0x | Medium-high |
| Medical aesthetics clinic | 2.5x | 3.5x | 5.0x | Medium-low |
| Specialist clinic | 3.0x | 4.0x | 5.5x | Medium |
| Physiotherapy or rehab practice | 2.5x | 3.5x | 4.5x | Low |
| TCM clinic | 1.5x | 2.5x | 3.5x | Low |
| Eldercare or home care | 2.5x | 3.5x | 4.5x | Low |
| Veterinary clinic | 3.0x | 4.0x | 5.0x | Low |
| Medical laboratory or health screening | 3.0x | 4.0x | 5.5x | Low |
| Retail pharmacy | 2.0x | 2.75x | 3.75x | Low |
| Optometry or optical retail | 2.0x | 2.75x | 3.75x | Low |
| Medical or dental supplies distribution | 2.5x | 3.5x | 4.5x | Low |
| Wellness and consumer | ||||
| Gym or studio, single site | 2.0x | 3.0x | 4.0x | Low-medium |
| Gym or studio, three or more sites | 3.0x | 4.0x | 5.0x | Low-medium |
| Spa or beauty, single centre | 2.0x | 3.0x | 4.0x | Medium |
| Spa or beauty, multi-outlet with own products | 3.0x | 4.0x | 5.0x | Medium |
| Hair or nail salon | 1.5x | 2.5x | 3.5x | Medium-low |
| F&B, single outlet | 1.5x | 2.25x | 3.0x | Medium |
| F&B group, three or more outlets | 3.0x | 4.0x | 5.0x | Medium-high |
| F&B group with central kitchen or wholesale | 4.0x | 5.0x | 6.0x | Medium-high |
| Retail | 2.0x | 3.0x | 4.0x | Low |
| E-commerce or D2C brand | 2.0x | 3.0x | 4.0x | Low-medium |
| Business services and tech | ||||
| Accounting or corporate secretarial | 3.0x | 4.0x | 5.0x | Medium |
| Management consulting | 2.5x | 3.5x | 4.5x | Low-medium |
| Architecture or engineering consultancy | 3.0x | 4.0x | 5.0x | Medium |
| Marketing or digital agency | 2.5x | 3.5x | 5.0x | Medium |
| Recruitment or staffing | 2.5x | 3.5x | 5.0x | Medium |
| IT services or managed services | 3.0x | 4.0x | 5.5x | Medium |
| Software or SaaS (profitable) | 3.5x | 5.0x | 6.5x | Low-medium |
| Cleaning or security services | 2.5x | 3.5x | 4.5x | Medium |
| Integrated facilities management | 3.0x | 4.0x | 5.5x | Medium |
| Corporate or SkillsFuture training | 2.5x | 3.5x | 4.5x | Low |
| Insurance broker or financial advisory | 2.5x | 3.5x | 5.0x | Low-medium |
| Real estate agency | 1.5x | 2.5x | 3.5x | Low |
| Property or MCST management | 2.5x | 3.5x | 4.5x | Low |
| Travel agency | 2.5x | 3.5x | 4.5x | Low |
| Events or media production | 2.0x | 3.0x | 4.0x | Low |
| Pest control | 3.0x | 4.0x | 5.0x | Low |
| Landscaping, maintenance-led | 2.5x | 3.25x | 4.25x | Low |
| Waste management or recycling | 2.5x | 3.5x | 4.5x | Low |
| Industrial and trade | ||||
| Manufacturing or precision engineering | 3.0x | 4.0x | 5.0x | Medium |
| Construction or M&E, project-based | 2.0x | 3.0x | 4.0x | Medium-high |
| Construction or M&E, recurring maintenance | 3.0x | 4.0x | 5.0x | Medium-high |
| Air-con or HVAC, maintenance-led | 3.0x | 4.0x | 5.0x | Low-medium |
| Air-con or HVAC, installation-led | 2.0x | 3.0x | 4.0x | Medium |
| Interior, renovation or fit-out | 1.5x | 2.5x | 3.5x | Low-medium |
| Logistics, forwarding or warehousing | 3.0x | 4.0x | 5.5x | Medium |
| Trading or distribution | 2.5x | 3.5x | 4.5x | Low-medium |
| Food and beverage distribution | 2.5x | 3.5x | 4.5x | Low |
| Food manufacturing or central kitchen supplier | 3.0x | 4.0x | 5.0x | Medium-low |
| Labels or packaging manufacturing | 3.0x | 4.0x | 5.0x | Low-medium |
| Commercial printing | 2.0x | 3.0x | 4.0x | Low |
| Marine or offshore services | 2.0x | 3.0x | 4.0x | Medium-low |
| Automotive workshop | 2.0x | 3.0x | 4.0x | Low |
| Automotive parts or fleet maintenance | 3.0x | 3.5x | 4.5x | Low |
| Not listed | ||||
| Other, my sector is not listed | 2.5x | 3.25x | 4.5x | General range |
Evidence shows how much Singapore deal data sits behind each range. Where it is thin, we have leaned lower. Sectors without enough data use the general SME range, which sits slightly below the median for private small-business sales. Education, childcare and tuition businesses are advised by our sister brand, Edugrow. See the method, Singapore deal evidence and a CSV download.
This is an indicative range, not a valuation. Many factors move the multiple during an actual exit, often by more than a full turn in either direction:
The cash you receive at completion is usually less than the headline value. Treat this range as the start of a conversation, not a price to expect.
It gives an indicative range, not a valuation. It applies conservative multiples drawn from Singapore SME transactions to the figures you enter, adjusts for size and for the five things buyers test hardest, and shows what is likely to reach you after debt and cash. A real exit can land well above or below the range, often by more than a full turn of profit, depending on how many buyers compete, what survives due diligence and how the deal is structured. A written valuation looks at your actual accounts, contracts and buyer market. We offer that for a fixed fee, credited against our success fee if you sell with us.
It is the profit a new owner could expect to earn. Start with profit before tax, add back interest, depreciation and amortisation, add back what you pay yourself, then deduct what it would cost to hire someone to do your job at a market salary. Remove one-off income and costs, and charge a market rent if you own the premises or pay below market. Buyers price on this figure, not on revenue and not on the profit in your tax return.
Most owner-operated Singapore businesses with S$0.3m to S$3m of normalised EBITDA sell for roughly 2x to 5x that figure. The sector sets the starting range, and size moves it: smaller businesses sell for less. Below about S$300,000 of normalised EBITDA, buyers usually price on owner earnings instead, at roughly 1x to 3x. Recent Singapore deals cluster at 2x to 5x pre-tax profit, well below the multiples of listed companies.
Because we would rather tell you a number we can deliver. We do not use listed-company multiples, asking prices on listing sites, or headline prices from SGX announcements, which are often paid in the buyer’s own shares against guaranteed future profit. Those inflate expectations, and an owner anchored to a number no buyer will pay loses months in a process that stalls. If your business has strengths the calculator cannot see, a proper valuation will find them.
Most SME sales pay part of the price later. Buyers commonly hold back 15% to 50% as deferred payments, an earn-out tied to future profit, or a retention against warranties. In Singapore SME deals we typically see 50% to 85% of the price paid at completion. How much is paid upfront is negotiable, and it matters as much as the headline number.
No. The calculator runs entirely in your browser. Nothing you type is sent to us or anyone else, and there is no email gate. If you would like to talk it through, you choose what to share.
We read your accounts, contracts and buyer market and put the number in writing, under NDA. It is a fixed fee, credited in full against our success fee if you sell with us. The first conversation is free and carries no obligation.
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