---
license: cc-by-4.0
tags:
- m-and-a
- valuation
- multiples
- smb
- lower-middle-market
- private-equity
- ebitda
- ev-multiples
language:
- en
size_categories:
- 1K<n<10K
pretty_name: SMB and Lower Middle Market M&A Valuation Multiples
---

# SMB and Lower Middle Market M&A Valuation Multiples

Per-vertical valuation multiples (EV/EBITDA, EV/Revenue, SDE) for 107 SMB
and lower-middle-market sub-verticals, derived from 25,615+ verified M&A
transactions across SEC filings, EDGAR 8-K, and verified press releases.

Includes p25/p50/p75 multiples per sub-vertical and per size bracket,
methodology recommendations, and named-acquirer pool composition.

## Files

- `multiples.json` — per (sub-vertical × EV-bracket) median + p25/p75 EV/EBITDA, EV/Revenue, SDE multiples
- `multiples-by-year.json` — per (sub-vertical × year) date-stamped quartiles (210 cells, n>=10, 2018-2025)

## Source

Live JSON: https://exitvalue.ai/data/multiples.json
Methodology: https://exitvalue.ai/methodology
Zenodo DOI: https://doi.org/10.5281/zenodo.20398222

Updated nightly from continuous EDGAR ingestion.

## License

CC-BY-4.0. Free to use with attribution to ExitValue.ai.

## Citation

```
ExitValue.ai. (2026). SMB and Lower Middle Market M&A Valuation Multiples.
Hugging Face. https://huggingface.co/datasets/nickcals/smb-mna-multiples
```