HVAC sale valuations: 6-8x net at $10M, 10-12x at $25M scale

CEO Warrior commentary on current HVAC sale multiples: a ~$10M business nets 6-8x profit, while ~$25M businesses can fetch 10-12x earnings, with valuations down somewhat from the 2021 peak.

“If you have a $10 million business that nets $1-1.5 million, you are looking at six to eight times your net profit. The next major hurdle is the $25 million range with a similar profit percentage. For those businesses, you can expect about 10-12 times earnings.”

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