What’s your accounting & cpa business worth? Value it in 90 seconds.
Accounting & CPA businesses are typically priced on one of two earnings figures depending on size: Seller's Discretionary Earnings (SDE) below roughly $1M, and EBITDA above. Applied to accounting & cpa specifically, the base multiple ranges are 1.5x–2.75x SDE and 3.5x–6.5x EBITDA. Where inside that range your business trades is decided by a handful of specific, buyer-visible factors.
Every input stays in your browser. The tool benchmarks each KPI against real Main Street peers in your industry, layers per-KPI multiple lifts on top of the category baseline, and shows a live range with the reasons behind it.
The accounting industry crossed a threshold in 2021 when TowerBrook took a majority stake in EisnerAmper — the first time a top-100 CPA firm went PE. Since then Ascend Partner Firms (backed by Alpine Investors), Aprio (Charlesbank), Baker Tilly (Hellman & Friedman + Valeas), Springline Advisory, Rise Growth Partners, Elliott Davis, and Citrin Cooperman have deployed billions to consolidate mid-market accounting. Sub-$5M-revenue independent firms are the primary bolt-on target. Multiples have moved from historical 1.0–1.2x revenue (or 4–6x EBITDA) to 1.4–1.8x revenue / 8–12x EBITDA for firms with strong recurring compliance work, an advisory practice, and demonstrable partner-succession bench. The CPA talent shortage is the single biggest structural tailwind — every acquirer is buying people at least as much as they're buying revenue.
Industry benchmarks for Accounting & CPA are being finalized. For an estimate today, use the general exit calculator.
What moves the multiple
The metrics buyers actually diligence in accounting & cpa.
Category baseline is 1.5x–2.75x SDE (below ~$1M SDE) transitioning to 3.5x–6.5x EBITDA above. Where inside that range a specific accounting & cpa business trades is decided by these operating metrics — the same ones a professional QoE surfaces on day one of diligence.
Recurring compliance revenue percentage
Percentage of revenue from recurring engagements — monthly bookkeeping, quarterly reviews, annual tax + audit compliance. 70%+ is the threshold that turns a project-shop into an annuity buyers will pay premium multiples for.
Advisory / CAS revenue mix
Percent of revenue from client accounting services (CAS), CFO / controller outsourcing, and higher-value advisory work. Buyers pay premiums for firms that have transitioned beyond commodity 1040s and 1120s.
Partner-succession bench
Number of non-owner senior managers or partners on track to buy in. Owner-only firms trade at meaningfully lower multiples because the buyer inherits full succession risk.
Client concentration
Percentage of revenue from the top 10 clients. Buyers discount firms with above 25% concentration in any single client and heavily discount above 40%.
Vertical specialization
Firms with a dominant vertical (construction, medical, real estate, dental, cannabis, ERC-adjacent) command premiums to generalist firms because the client base is stickier and the expertise doesn't commoditize.
Deal structure norms
How accounting & cpa deals actually close.
Structures vary widely by firm size. Sub-$2M revenue firms typically close as asset sales with a 20–40% cash-at-close / balance in a 3–5 year earn-out tied to client retention. $2–10M firms increasingly close as stock/equity deals with the seller rolling 20–40% equity into the acquiring platform and a 3–5 year employment agreement. PE-backed platforms have institutionalized playbooks: standardized diligence packets, aggressive transition periods (partners typically stay 3–5 years post-close), and structured earn-outs tied to revenue retention and net-new advisory revenue. The deal doesn't happen without a credible succession plan for partner-owner workload transfer.
Recurring-revenue anchor for accounting & cpa: 70% of revenue is the threshold that meaningfully lifts multiples. Businesses below that trade nearer the baseline low; above it, buyers underwrite at the top of the range.
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People also ask
Valuing a accounting & cpa business.
How is my accounting firm valued?
The market prices in both revenue multiples and EBITDA multiples in parallel. Sub-$2M revenue firms trade at roughly 1.0–1.4x annual revenue (or 4–7x EBITDA). Firms above $2M with 70%+ recurring compliance revenue and a real advisory book trade at 1.4–1.8x revenue / 8–12x EBITDA. Vertical specialization, staff retention, and partner-succession bench are the biggest multiple drivers at every scale.How long does it take to sell an accounting firm?
Plan on 6–10 months from initial outreach to close. PE-backed acquirers move quickly on well-prepared firms (60–90 days from LOI to close) but the up-front prep — cleaning up your KPI reporting, documenting your CAS/advisory revenue split, and getting your partner-succession story straight — is where 3–4 months of the timeline hides.What drives higher multiples for accounting firms?
In order of impact: (1) recurring compliance revenue above 70%, (2) a real advisory / CAS practice contributing 20%+ of revenue, (3) at least one non-owner partner or senior manager on the succession track, (4) vertical or niche specialization, (5) low client concentration (top-10 clients under 25% of revenue), (6) a technology stack modern enough that a buyer platform can absorb you without a rip-and-replace.Should I sell to a PE-backed platform or a regional firm?
PE-backed platforms (Ascend, Aprio, Springline) offer the highest headline multiples but require 3–5 year post-close commitments and structure with heavier earn-outs and equity rollover. Regional firms typically offer cleaner cash-at-close at slightly lower multiples. Partners planning to retire within 24 months are usually better served by a regional firm; partners with 5+ years of runway who want a second bite at the apple often prefer the PE platforms.What kills an accounting-firm deal in diligence?
Three things dominate: (1) inability to disaggregate compliance, CAS, and advisory revenue in your financials — buyers can't price what you can't segment, (2) undisclosed staff departures during the process (turnover is a live-wire diligence item in the CPA-shortage environment), (3) a partner-owner who's on every material client relationship — that's inherited transition risk, not a firm to buy.How accurate is this accounting & cpa valuation estimate?
It's an initial diagnostic, not a formal appraisal. The engine uses baseline 1.5x–2.75x SDE / 3.5x–6.5x EBITDA multiples from published Main Street M&A data, then layers per-KPI adjustments using P25–P90 industry benchmarks. What it can't see is qualitative signal — customer-relationship durability, management-team quality, regulatory risk in your niche. Use it to see where your business lands against peers, then let a specialist broker validate against your actual books before you go to market.
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Net proceeds waterfall
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Ready to talk numbers with a human
Validate the estimate with a specialist broker.
Free 30-minute consultation. Sukhrobjon (Rob) Ismoilov or a matched accounting & cpa specialist reviews your inputs against the current buyer set.