Business Valuation
Know what your business is worth – and what’s driving that number.
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Business Valuation
What’s your business worth? It’s one of the most important questions you can ask – and one of the hardest to answer objectively.
Most valuations get it wrong in one of two directions. Owners overvalue based on what they’ve put in. Buyers undervalue based on what they want to pay. An independent valuation cuts through both.
We provide business valuations for sellers preparing for exit, buyers assessing an acquisition, partners in dispute resolution, and owners who simply want to understand the financial asset they’ve built.
Full guide: how to value a business in Australia.
When you need a valuation
Preparing to sell
Before you set an asking price or talk to a broker
Considering an acquisition
Before you set an asking price or talk to a broker
Partnership restructure or buy-out
Fair value for all parties
Estate planning and succession
Before you set an asking price or talk to a broker
Dispute resolution
Separating, divorcing, or unwinding a partnership
Strategic planning
Benchmarking the value you're building year on year
before you set an asking price or talk to a broker
Considering an acquisition
before you set an asking price or talk to a broker
Partnership restructure or buy-out
fair value for all parties
Estate planning and succession
before you set an asking price or talk to a broker
Dispute resolution
separating, divorcing, or unwinding a partnership
Strategic planning
benchmarking the value you’re building year on year
What we do for buyers
There is no single method that applies to every business. The right approach depends on the type of business, its size, its profitability, and the purpose of the valuation.
EBITDA multiple - the most common method for
trading SMEs
EBITDA stands for Earnings Before Interest, Tax, Depreciation and Amortisation. It’s a proxy for the operating cash the business generates.
A multiple is applied based on the industry, growth profile, and risk characteristics. Multiples for Australian SMEs typically range from 2x to 6x EBITDA.
Example: a business with $400,000 EBITDA in a sector trading at a 3.5x multiple would be valued at approximately $1.4 million.
Asset-based valuation - used when assets drive value
Some businesses are valued primarily on what they own, not what they earn. Property, plant, equipment, intellectual property, client lists, and goodwill are all components. More common in asset-heavy businesses – manufacturing, logistics, property.
Comparable sales - market evidence
Where market data is available, we use comparable transactions to validate the valuation – giving a market-based cross-check against the earnings multiple approach.
Discounted cash flow - for businesses with strong future earnings
A DCF model values the business based on projected future cash flows, discounted back to present value. More common in larger transactions and businesses with a clear, defensible growth story.
The number matters. But understanding what's driving the number matters more. We explain both.
What normalisation means - and why it matters
Raw financial statements don’t always reflect the true earnings of a business. Owner wages, personal expenses run through the business, one-off items, and related-party transactions all distort the picture.
Normalisation adjusts the earnings to reflect what the business would actually generate under arm’s-length, ongoing operation. This is the number that drives valuation – and it’s almost always different from what the P&L shows at face value.
We normalise earnings as a standard part of every valuation engagement.
What drives value in an SME
Two businesses with the same EBITDA can have very different valuations. The difference comes down to risk. Buyers pay more for businesses that are:
- Predictable - recurring revenue, contracted income, long-term clients
- Scalable - not dependent on the owner for day-to-day delivery
- Tax planning including CGT small business concessions
- Low-risk - diversified client base, no single client over 15–20% of revenue
- Well-documented - clean books, organised records, clear processes
- Growing - demonstrable upward trend in revenue and earnings
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What our clients have to say
Frequently Asked Questions.
For most SMEs, we can produce a preliminary valuation within 2–3 weeks of receiving the financial information. A formal valuation report takes longer, depending on complexity.
Our business valuations are advisory valuations – designed to inform decisions. For legal proceedings that require a registered valuer’s report, we can refer you to an accredited business valuator. For most commercial transactions and planning purposes, an advisory valuation is exactly what’s needed.
Three years of financial statements (P&L, balance sheet), tax returns, BAS records, and a general overview of the business model, client base, and any significant upcoming changes. We’ll send you a clear request list after the initial call.
Yes – though the methodology changes. Early-stage businesses with strong growth and a clear path to profitability are often valued on revenue multiples or forward earnings projections. We’ll work with what the business has and be straight with you about what the market will likely support.
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