Evans & Associates Enterprises, Inc.
How we got $4.0M
Based on its 17 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 20% 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
▲ 882% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 17 | $5.7M |
| 2020 | Form 5500 | 243 | $81.2M |
| 2021 | Form 5500 | 237 | $79.2M |
| 2022 | Form 5500 | 222 | $74.2M |
| 2023 | Form 5500 | 265 | $88.6M |
| 2024 | Form 5500 | 167 | $55.8M |
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.
What we know
Signs of a sale Likely to sell
- In business 66 years (since 1960)
- No family successor named on its website
- Headcount down 37% since 2023 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Evans & Associates is a multi-generational Oklahoma company engaged in asphalt production and placement, concrete production and delivery, transportation services, and utility placement and construction. Its utility subsidiary does pipeline construction and is a subcontractor for Oklahoma Natural Gas.
From the company's website. Industry: Highway, Street, and Bridge Construction.
Customers & suppliers
Customers
- Oklahoma Natural Gas · named on its website
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| EVANS & ASSOCIATES ENTERPRISES, INC. this business | $11.3M | — |
| EVANS TRANSPORTATION SERVICES, INC. Ponca City · 19 employees | $11.9M | 0.0 mi |
| TTR, LLC Ponca City · 4 employees | $3.6M | 5.6 mi |
| HIGH POINT PARNTERS LLC Newkirk · 10 employees | $9.5M | 12.7 mi |
| HIGHPOINT PARTNERS LLC Newkirk · 14 employees | $12.4M | 12.7 mi |
| RRY SERVICES, LLC Stillwater · 38 employees | $21.5M | 47.6 mi |
| STAN'S ASPHALT & CONSTRUCTION, INC. Enid · 10 employees | $4.1M | 47.9 mi |
The full calculation
| Employees reported to the SBA | 17 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $9.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $10.8M |
| Estimate: the two combined (geometric mean) | $11.3M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $1.2M |
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 | $4.0M |
| Multiple for this size and industry | 3.4× |
| Value range | $2.1M – $5.5M |
| Revenue range | $7.4M – $12.9M |
| EBITDA range | $781K – $1.4M |
| Industry (NAICS) | Highway, Street, and Bridge Construction (237310) |
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
History & advisors
“Founded on April 15, 1960, Evans & Associates has consistently maintained a multi-generational reputation in the construction industry for producing quality products and providing exceptional service.”
Advisors
- AccountingForvis Mazars, LLPAudits its 401(k) plan (2024 filing)
- BankingRCB 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
| RCB Bank PPP 2020 | All 1,690 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/11/2020 | first | $274K | 17 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Evans & Associates Enterprises, Inc.
Evans & Associates Enterprises, Inc. is a highway, street, and bridge construction company in Ponca City, Oklahoma, in business since 1960. It is owned by Lee Evans (CEO). Its estimated annual revenue is about $11.3M, with roughly $1.2M of EBITDA. It has about 167 employees. Its estimated business value is $4.0M (likely range $2.1M–$5.5M).
Common questions
- Who owns Evans & Associates Enterprises, Inc.?
- Evans & Associates Enterprises, Inc. is owned by Lee Evans (CEO), according to public sources such as the company's website or filings.
- How much revenue does Evans & Associates Enterprises, Inc. make?
- SeeBITDA estimates Evans & Associates Enterprises, Inc.'s annual revenue at about $11.3M (likely between $7.4M and $12.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Evans & Associates Enterprises, Inc. worth?
- About $4.0M, roughly 3.4× its estimated EBITDA of $1.2M, typical for a highway, street, and bridge construction company its size. Likely range: $2.1M–$5.5M.
- How many employees does Evans & Associates Enterprises, Inc. have?
- About 167, from its 2024 retirement-plan filing.
- When was Evans & Associates Enterprises, Inc. founded?
- Evans & Associates Enterprises, Inc. has been in business since 1960.
- Is Evans & Associates Enterprises, Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 66 years (since 1960); no family successor named on its website; headcount down 37% since 2023 (retirement plan filings).