Bags Inc
How we got $23.2M
Based on its 57 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 61 years (since 1965)
From public records and the company's website, not a statement that it's for sale.
What they do
Bags Inc holds a large inventory of various resins and converting equipment to manufacture specialty plastic products such as bags and poly stretch sleeves.
From the company's website. Industry: Plastics Bag and Pouch Manufacturing.
Estimated value over time
▲ 48% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▲ 11% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 57 | $28.4M |
| 2020 | Form 5500 | 58 | $28.9M |
| 2021 | Form 5500 | 59 | $29.4M |
| 2022 | Form 5500 | 65 | $32.4M |
| 2023 | Form 5500 | 59 | $29.4M |
| 2024 | Form 5500 | 62 | $30.9M |
| 2025 | Form 5500 | 63 | $31.4M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| BAGS INC this business | $35.2M | — |
| POLY FILMS, INC Oklahoma City · 17 employees | $9.3M | 0.0 mi |
| HITE PLASTICS INC Oklahoma City · 15 employees | $4.5M | 3.4 mi |
| QUALITY WRAP PACKAGING, INC. Oklahoma City · 6 employees | $2.3M | 5.8 mi |
| ENVIRONMENTAL COMPLIANCE CORP., LLC DBA WE PAD IT Oklahoma City · 12 employees | $4.5M | 7.5 mi |
| BUILDBLOCK BUILDING SYSTEMS, LLC Oklahoma City · 21 employees | $15.4M | 7.7 mi |
| PHIL-GOOD PRODUCTS INC Oklahoma City · 34 employees | $16.3M | 9.0 mi |
The full calculation
| Employees reported to the SBA | 57 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $32.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $29.4M |
| Estimate: the two combined (geometric mean) | $35.2M |
| EBITDA margin (industry, adjusted for size) | 12% |
| EBITDA = revenue × margin | $4.2M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $23.2M |
| Multiple for this size and industry | 5.5× |
| Value range | $12.2M – $31.7M |
| Revenue range | $23.1M – $40.1M |
| EBITDA range | $2.8M – $4.8M |
| Industry (NAICS) | Plastics Bag and Pouch Manufacturing (326111) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Our team has been manufacturing high quality polyethylene bags and poly films since 1965.”
Advisors
- BankingFirst Fidelity BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| First Fidelity Bank PPP 2020 | All 940 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/27/2020 | first | $517K | 57 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Bags Inc
Bags Inc is a plastics bag and pouch manufacturing company in Oklahoma City, Oklahoma, in business since 1965. Its estimated annual revenue is about $35.2M, with roughly $4.2M of EBITDA. It has about 63 employees. Its estimated business value is $23.2M (likely range $12.2M–$31.7M).
Common questions
- Who owns Bags Inc?
- The owner of Bags Inc isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Bags Inc make?
- SeeBITDA estimates Bags Inc's annual revenue at about $35.2M (likely between $23.1M and $40.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Bags Inc worth?
- About $23.2M, roughly 5.5× its estimated EBITDA of $4.2M, typical for a plastics bag and pouch manufacturing company its size. Likely range: $12.2M–$31.7M.
- How many employees does Bags Inc have?
- About 63, from its 2025 retirement-plan filing.
- When was Bags Inc founded?
- Bags Inc has been in business since 1965.