Frontier Trading Inc.
How we got $20.0M
Based on its 19 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
What they do
Frontier Trading Inc. is an agricultural commodities business in Ada, OK that trades quality feed ingredients and fertilizers. Its stated mission is to serve feed ingredient manufacturers, farmers, ranchers, transportation personnel, and end users.
From the company's website. Industry: Grain and Field Bean Merchant Wholesalers.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- LSB INDUSTRIES, INC · Oklahoma City, 76 mi · $615.2M
- MID AMERICAN STEEL & WIRE CO., LLC · Madill, 46 mi · $525.7M
- DELAWARE RESOURCE GROUP OF OKLAHOMA, LLC · Oklahoma City, 80 mi · $339.6M
- KT PLASTICS, INC. · Calera, 58 mi · $326.4M
- SOUTHWESTERN WIRE INC · Norman, 56 mi · $312.4M
Estimated value over time
▲ 23% 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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| FRONTIER TRADING INC. this business | $104.7M | — |
| SOUTHERN OKLAHOMA LIVESTOCK AUCTION, L L C Ada · 50 employees | $130.2M | 4.5 mi |
| HEARTLAND FEED & FERTILIZER LLC Ada · 4 employees | $12.6M | 5.6 mi |
| SULPHUR LIVESTOCK MARKET, LLC Sulphur · 1 employees | $6.7M | 22.7 mi |
| RC CATTLE HAULING, LLC Tishomingo · 1 employees | $5.9M | 31.0 mi |
| ATOKA LIVESTOCK, LLC Atoka · 20 employees | $40.1M | 39.1 mi |
| NOBLE FARM AND BUILDING SUPPLY LLC Noble · 7 employees | $11.1M | 44.8 mi |
The full calculation
| Employees reported to the SBA | 19 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $80.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $105.4M |
| Estimate: the two combined (geometric mean) | $104.7M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $3.8M |
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 | $20.0M |
| Multiple for this size and industry | 5.2× |
| Value range | $10.5M – $27.3M |
| Revenue range | $68.9M – $119.4M |
| EBITDA range | $2.5M – $4.4M |
| Industry (NAICS) | Grain and Field Bean Merchant Wholesalers (424510) |
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
Leadership
- WSWarren SkaggsOwner · Company website · source
- JBJim BarrOwner · Company website · source
- JWJake WilliamsTrader · Company website · source
- KTKidd TolliverTrader · Company website · source
- NPNate PoolTrader · Company website · source
- ADArt DeanNutrionist/Feed Specialist · Company website · source
- MJMichael JohnsonTrader · Company website · source
- JHJustin HoodTrader · Company website · source
- MHMichelle HansonAccountant · Company website · source
- JCJessica CarterAccounts Payable · Company website · source
- SBShannon BarrAdministrative Assistant · Company website · source
Advisors
- BankingFirst United Bank and Trust Company, Oklahoma Heritage 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 United Bank and Trust Company PPP 2020 | All 2,229 borrowers → |
| Oklahoma Heritage Bank PPP 2021 | All 44 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $273K | 19 |
| 2/5/2021 | first | $20K | 2 |
| 3/30/2021 | second | $20K | 2 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Frontier Trading Inc.
Frontier Trading Inc. is a grain and field bean merchant wholesalers company in Ada, Oklahoma, in business since 2013. It is owned by Roger Callison. Its estimated annual revenue is about $104.7M, with roughly $3.8M of EBITDA. It has about 19 employees. Its estimated business value is $20.0M (likely range $10.5M–$27.3M).
Common questions
- Who owns Frontier Trading Inc.?
- Frontier Trading Inc. is owned by Roger Callison, according to public sources such as the company's website or filings.
- How much revenue does Frontier Trading Inc. make?
- SeeBITDA estimates Frontier Trading Inc.'s annual revenue at about $104.7M (likely between $68.9M and $119.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Frontier Trading Inc. worth?
- About $20.0M, roughly 5.2× its estimated EBITDA of $3.8M, typical for a grain and field bean merchant wholesalers company its size. Likely range: $10.5M–$27.3M.
- How many employees does Frontier Trading Inc. have?
- About 19, as reported on its PPP loan.
- When was Frontier Trading Inc. founded?
- Frontier Trading Inc. has been in business since 2013.