Forrest Group Ltd
How we got $32.8M
Based on its 110 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 41% 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.
What we know
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| FORREST GROUP LTD this business | $78.0M | — |
| BR HEAVY CONSTRUCTION, LLC Tulsa | $25.2M | 0.4 mi |
| CIRCLE B MEASUREMENT & FABRICATION, LLC Tulsa · 116 employees | $57.6M | 1.1 mi |
| BRIGHT LIGHTING INC Tulsa · 50 employees | $21.2M | 1.3 mi |
| INDUSTRIAL PIPING SPECIALISTS INC. Tulsa · 421 employees | $199.5M | 1.7 mi |
| MID AMERICA PIPELINE CONSTRUCTION, INC Tulsa · 219 employees | $112.2M | 1.8 mi |
| DMI INTERNATIONAL, INC. Tulsa · 80 employees | $56.5M | 1.8 mi |
The full calculation
| Employees reported to the SBA | 110 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $62.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $74.9M |
| Estimate: the two combined (geometric mean) | $78.0M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $6.7M |
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 | $32.8M |
| Multiple for this size and industry | 4.9× |
| Value range | $17.2M – $44.8M |
| Revenue range | $51.3M – $88.9M |
| EBITDA range | $4.4M – $7.6M |
| Industry (NAICS) | Water and Sewer Line and Related Structures Construction (237110) |
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
Advisors
- BankingSecurity 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 Roles are as stated there and may be out of date.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
| Security Bank PPP 2020, PPP 2021 | All 617 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/3/2020 | first | $1.6M | 110 |
| 1/28/2021 | second | $1.6M | 83 |
About Forrest Group Ltd
Forrest Group Ltd is a water and sewer line and related structures construction company in Tulsa, Oklahoma. Its estimated annual revenue is about $78.0M, with roughly $6.7M of EBITDA. It has about 110 employees. Its estimated business value is $32.8M (likely range $17.2M–$44.8M).
Common questions
- Who owns Forrest Group Ltd?
- The owner of Forrest Group Ltd 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 Forrest Group Ltd make?
- SeeBITDA estimates Forrest Group Ltd's annual revenue at about $78.0M (likely between $51.3M and $88.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Forrest Group Ltd worth?
- About $32.8M, roughly 4.9× its estimated EBITDA of $6.7M, typical for a water and sewer line and related structures construction company its size. Likely range: $17.2M–$44.8M.
- How many employees does Forrest Group Ltd have?
- About 110, as reported on its PPP loan.