Don W. Armstrong C.P.A., Inc.
How we got $1.4M
Based on its 10 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- In business 18 years (since 2008)
From public records and the company's website, not a statement that it's for sale.
What they do
Don W. Armstrong CPA, Inc. is a CPA firm in Norman, OK that provides accounting, tax, and payroll services to individuals and businesses, with a focus on small businesses.
From the company's website. Industry: Accounting & tax.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- LIFE. CHURCH OPERATIONS, LLC · Edmond, 30 mi · $116.4M
- OKLAHOMA CITY BOATHOUSE FOUNDATION · Oklahoma City, 17 mi · $68.4M
- THE EPISCOPAL DIOCESES OF OKLAHOMA, INC. · Oklahoma City, 18 mi · $62.7M
- CROSSINGS COMMUNITY CHURCH, INC · Oklahoma City, 20 mi · $52.1M
- COMMUNITIES FOUNDATION OF OKLAHOMA · Oklahoma City, 22 mi · $48.7M
Estimated value over time
▲ 30% 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 |
|---|---|---|
| DON W. ARMSTRONG C.P.A., INC. this business | $2.2M | — |
| AMERI-TAX INC Norman · 2 employees | $322K | 0.0 mi |
| Diamond Payroll Services Norman | $736K | 0.0 mi |
| DOBRY AND COMPANY PLLC Norman · 4 employees | $982K | 0.0 mi |
| WHITE ROSE BUSINESS SERVICES LLC Norman · 1 employees | $194K | 0.0 mi |
| Sweetwater Exploration Llc Norman | $736K | 0.1 mi |
| BENCHMARK TAX SERVICES, LLP Norman · 3 employees | $442K | 0.1 mi |
The full calculation
| Employees reported to the SBA | 10 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $1.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $2.1M |
| Estimate: the two combined (geometric mean) | $2.2M |
| EBITDA margin (industry, adjusted for size) | 18% |
| EBITDA = revenue × margin | $396K |
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 | $1.4M |
| Multiple for this size and industry | 3.5× |
| Value range | $730K – $1.9M |
| Revenue range | $1.5M – $2.5M |
| EBITDA range | $261K – $452K |
| Industry (NAICS) | Offices of Certified Public Accountants (541211) |
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
“For over 40 years, Don W. Armstrong CPA firm has been dedicated to providing exceptional accounting, tax, and payroll services to individuals and businesses.”
Leadership
- DADon ArmstrongTeam member · Company website · source
- MLMichelle LinnemannTeam member · Company website · source
- CJClara JohnstonTeam member · Company website · source
- SHSherry HillTeam member · Company website · source
- LWLauren WallsTeam member, CPA · Company website · source
- DADebbie AutryTeam member · Company website · source
- ERErandi RamirezTeam member · Company website · source
- LVLeslie ValentineTeam member · Company website · source
Advisors
- BankingFirst Liberty 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 Liberty Bank PPP 2020 | All 382 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/9/2020 | first | $121K | 10 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Don W. Armstrong C.P.A., Inc.
Don W. Armstrong C.P.A., Inc. is an accounting & tax company in Norman, Oklahoma, in business since 2008. It is owned by Don W. Armstrong. Its estimated annual revenue is about $2.2M, with roughly $396K of EBITDA. It has about 10 employees. Its estimated business value is $1.4M (likely range $730K–$1.9M).
Common questions
- Who owns Don W. Armstrong C.P.A., Inc.?
- Don W. Armstrong C.P.A., Inc. is owned by Don W. Armstrong, according to public sources such as the company's website or filings.
- How much revenue does Don W. Armstrong C.P.A., Inc. make?
- SeeBITDA estimates Don W. Armstrong C.P.A., Inc.'s annual revenue at about $2.2M (likely between $1.5M and $2.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Don W. Armstrong C.P.A., Inc. worth?
- About $1.4M, roughly 3.5× its estimated EBITDA of $396K, typical for a accounting & tax company its size. Likely range: $730K–$1.9M.
- How many employees does Don W. Armstrong C.P.A., Inc. have?
- About 10, as reported on its PPP loan.
- When was Don W. Armstrong C.P.A., Inc. founded?
- Don W. Armstrong C.P.A., Inc. has been in business since 2008.