Gray Horse Operating Inc
How we got $2.1M
Based on its 6 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
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 |
|---|---|---|
| GRAY HORSE OPERATING INC this business | $7.5M | — |
| RECOGNITION PRODUCTS, INC. Tulsa · 9 employees | $3.8M | 0.9 mi |
| VORAZ SOLUTIONS INC. Tulsa · 16 employees | $6.6M | 1.3 mi |
| SMOKE RINGS, LLC Tulsa · 3 employees | $2.3M | 2.0 mi |
| DAVID GARRETT Tulsa · 1 employees | $843K | 2.4 mi |
| JUST BETWEEN FRIENDS OF TULSA, INC Tulsa · 2 employees | $913K | 2.7 mi |
| G SIX MEDICAL, LLC Tulsa · 1 employees | $905K | 4.3 mi |
The full calculation
| Employees reported to the SBA | 6 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $4.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $9.2M |
| Estimate: the two combined (geometric mean) | $7.5M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $694K |
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 – $2.8M |
| Revenue range | $4.9M – $8.5M |
| EBITDA range | $456K – $791K |
| 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
Advisors
- BankingCommerce 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 Roles are as stated there and may be out of date.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
| Commerce Bank PPP 2020 | All 113 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $108K | 6 |
About Gray Horse Operating Inc
Gray Horse Operating Inc is a retail trade company in Tulsa, Oklahoma. Its estimated annual revenue is about $7.5M, with roughly $694K of EBITDA. It has about 6 employees. Its estimated business value is $2.1M (likely range $1.1M–$2.8M).
Common questions
- Who owns Gray Horse Operating Inc?
- The owner of Gray Horse Operating 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 Gray Horse Operating Inc make?
- SeeBITDA estimates Gray Horse Operating Inc's annual revenue at about $7.5M (likely between $4.9M and $8.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Gray Horse Operating Inc worth?
- About $2.1M, roughly 3× its estimated EBITDA of $694K, typical for a retail trade company its size. Likely range: $1.1M–$2.8M.
- How many employees does Gray Horse Operating Inc have?
- About 6, as reported on its PPP loan.