Froman Oil Company Inc.
How we got $2.1M
Based on its 11 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 64 years (since 1962)
From public records and the company's website, not a statement that it's for sale.
What they do
Froman Oil and Propane is a family-operated supplier of propane and fuels and oils serving residential, commercial and agricultural customers in northeast Oklahoma.
From the company's website. Industry: Retail Trade.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- BACCO TREE SERVICE INC · Owasso, 16 mi · $37.6M
- RIGGS CONTRACT SERVICES, LLC · Grove, 46 mi · $36.7M
- KEY MAINTENANCE INC · Chouteau, 20 mi · $29.0M
- HARDIN STAFFING LLC · Collinsville, 13 mi · $23.3M
- PRO-MOW LAWN AND LANDSCAPE, LLC · Tulsa, 21 mi · $16.6M
Estimated value over time
▲ 35% 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 |
|---|---|---|
| FROMAN OIL COMPANY INC. this business | $7.5M | — |
| FROMAN PROPANE CO Claremore · 17 employees | $12.8M | 0.0 mi |
| COTTON COTTAGE, LLC Claremore · 1 employees | $606K | 5.2 mi |
| PRATER'S PROPANE COMPANY Claremore · 1 employees | $1.3M | 7.3 mi |
| VINTAGE MARKET DAYS Owasso · 2 employees | $1.3M | 10.3 mi |
| CHELSEA BUTANE COMPANY Pryor · 28 employees | $26.3M | 10.8 mi |
| LEMON AND ROSE LLC Owasso · 1 employees | $521K | 11.0 mi |
The full calculation
| Employees reported to the SBA | 11 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $7.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $5.6M |
| Estimate: the two combined (geometric mean) | $7.5M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $695K |
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 | $2.1M |
| Multiple for this size and industry | 3× |
| Value range | $1.1M – $2.9M |
| Revenue range | $4.9M – $8.6M |
| EBITDA range | $457K – $792K |
| Industry (NAICS) | Retail Trade (454310) |
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: approximate sector default. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“A lot has changed since 1962 when Bob and Donna opened the first full-service filling station.”
Advisors
- BankingRCB Bank, American Bank of OklahomaPPP / 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
| American Bank of Oklahoma PPP 2021 | All 137 borrowers → |
| 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 |
|---|---|---|---|
| 4/15/2020 | first | $80K | 8 |
| 1/21/2021 | second | $149K | 11 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Froman Oil Company Inc.
Froman Oil Company Inc. is a family-owned retail trade company in Claremore, Oklahoma, in business since 1962. It is owned by Maddie Froman. Its estimated annual revenue is about $7.5M, with roughly $695K of EBITDA. It has about 11 employees. Its estimated business value is $2.1M (likely range $1.1M–$2.9M).
Common questions
- Who owns Froman Oil Company Inc.?
- Froman Oil Company Inc. is owned by Maddie Froman, according to public sources such as the company's website or filings.
- How much revenue does Froman Oil Company Inc. make?
- SeeBITDA estimates Froman Oil Company Inc.'s annual revenue at about $7.5M (likely between $4.9M and $8.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Froman Oil Company Inc. worth?
- About $2.1M, roughly 3× its estimated EBITDA of $695K, typical for a retail trade company its size. Likely range: $1.1M–$2.9M.
- How many employees does Froman Oil Company Inc. have?
- About 11, as reported on its PPP loan.
- When was Froman Oil Company Inc. founded?
- Froman Oil Company Inc. has been in business since 1962.