What is your HVAC business worth?
An estimate built from what 562 HVAC businesses really sold for, not from asking prices. Takes a minute. No signup.
What HVAC businesses actually sold for
Figures are for HVAC businesses sold on BizBuySell, 2021 to 2025. Multiples are the sale price divided by yearly owner earnings (SDE) or by yearly revenue.
| Lower quartile | Median | Average | Upper quartile | |
|---|---|---|---|---|
| Earnings multiple (SDE) | 1.99x | 2.58x | 2.75x | 3.33x |
| Revenue multiple | 0.38x | 0.56x | 0.59x | 0.74x |
| Yearly owner earnings of those businesses | $187,072 | $304,309 | $408,657 | $507,236 |
| Yearly revenue of those businesses | $806,321 | $1,482,016 | $2,139,515 | $2,516,714 |
Median sale price $750,000, median asking price $799,000; businesses sold for about 94% of the asking price. Source: BizBuySell valuation benchmarks for HVAC businesses, read October 2026. Consultants in a Box is not affiliated with BizBuySell.
What moves the value of a HVAC business
Maintenance agreements and recurring service revenue, a team that runs without the owner on every call, and clean books are what move an HVAC company toward the top of its range.
- Size. Larger companies sell for higher multiples. The calculator adjusts the multiple for the size you enter.
- Owner dependence. A business that runs without you on every job is worth more than one that stops when you do.
- Clean, provable books. Buyers and lenders pay for earnings they can verify.
- Recurring revenue and a steady lead flow. Predictable work is easier to finance.
Questions people ask
How much is an HVAC business worth?
Most HVAC businesses that sold sold for between about 2 and 3.3 times their yearly owner earnings (SDE). Larger companies with steady service revenue sit at the top of that range and small, owner-dependent ones at the bottom.
What is SDE?
Seller's discretionary earnings: what the business earns in a year before you pay yourself, plus one-time and personal expenses. It is the number buyers of small businesses price against.
Does a maintenance agreement base raise the price?
Usually yes. Recurring revenue is easier to finance and easier to trust, so buyers tend to pay more for a business where a large share of revenue repeats.
Is this an appraisal?
No. It is a quick estimate from published sale data, meant to start a conversation. A real price depends on your books, your customers, your team and the buyer. For a formal number, use a business broker or a certified appraiser.
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This is an indicative estimate from published sale data, not an appraisal, and not financial, legal or tax advice.