Forest Shoemaker Air Conditioning, Inc
How we got $4.6M
Based on its 35 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Estimated value over time
▲ 36% 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 |
|---|---|---|
| FOREST SHOEMAKER AIR CONDITIONING, INC this business | $14.7M | — |
| SHOEMAKER ELECTRIC, LLC Tulsa · 3 employees | $495K | 0.0 mi |
| Shoemaker Mechanical Tulsa | $1.8M | 0.0 mi |
| WESTCO INTERNATIONAL, INC. Tulsa · 76 employees | $37.6M | 0.2 mi |
| KMS Heating and Cooling Tulsa | $1.8M | 0.4 mi |
| INDUSTRIAL CONTROLS OF OKLAHOMA, LLC Tulsa · 71 employees | $26.6M | 0.5 mi |
| BIANTRAV CONTRACTOR LLC Tulsa · 29 employees | $7.7M | 1.0 mi |
The full calculation
| Employees reported to the SBA | 35 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $10.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $15.8M |
| Estimate: the two combined (geometric mean) | $14.7M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $1.3M |
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 | $4.6M |
| Multiple for this size and industry | 3.6× |
| Value range | $2.4M – $6.3M |
| Revenue range | $9.7M – $16.7M |
| EBITDA range | $838K – $1.5M |
| Industry (NAICS) | Plumbing, Heating, and Air-Conditioning Contractors (238220) |
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
Advisors
- BankingSpiritBankPPP / 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 Roles are as stated there and may be out of date.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
| SpiritBank PPP 2020 | All 369 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $532K | 35 |
About Forest Shoemaker Air Conditioning, Inc
Forest Shoemaker Air Conditioning, Inc is a plumbing, heating & air company in Tulsa, Oklahoma. Its estimated annual revenue is about $14.7M, with roughly $1.3M of EBITDA. It has about 35 employees. Its estimated business value is $4.6M (likely range $2.4M–$6.3M).
Common questions
- Who owns Forest Shoemaker Air Conditioning, Inc?
- The owner of Forest Shoemaker Air Conditioning, 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 Forest Shoemaker Air Conditioning, Inc make?
- SeeBITDA estimates Forest Shoemaker Air Conditioning, Inc's annual revenue at about $14.7M (likely between $9.7M and $16.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Forest Shoemaker Air Conditioning, Inc worth?
- About $4.6M, roughly 3.6× its estimated EBITDA of $1.3M, typical for a plumbing, heating & air company its size. Likely range: $2.4M–$6.3M.
- How many employees does Forest Shoemaker Air Conditioning, Inc have?
- About 35, as reported on its PPP loan.