Valuation

Small business valuation multiples: why the multiple is never the first question

Published August 31, 2026 · Reviewed by The Diligence Standard Team · Updated September 11, 2026

A 3× or 5× multiple means little until normalized earnings, growth, concentration, transferability and capital needs are understood.

This guide is organized around the evidence a buyer or seller should be able to reconcile before relying on a transaction claim.