Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.
- Robert MorrisSigns company filings · Form 5500 (2024)
How we got $44.4M
Based on its 182 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 26% 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
▼ 12% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 182 | $50.6M |
| 2020 | Form 5500 | 171 | $47.5M |
| 2021 | Form 5500 | 158 | $43.9M |
| 2022 | Form 5500 | 151 | $41.9M |
| 2023 | Form 5500 | 159 | $44.2M |
| 2024 | Form 5500 | 162 | $45.0M |
| 2025 | Form 5500 | 160 | $44.4M |
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 60 years (since 1966)
- Founder still runs it after 60 years
From public records and the company's website, not a statement that it's for sale.
What they do
Hall Estill is a full-service law firm with 150 lawyers representing clients at local, national and international levels, from Fortune 500 corporations and medium-sized companies to non-profit organizations, emerging businesses and individuals.
From the company's website. Industry: Law firms.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- FOLDS OF HONOR FOUNDATION · Owasso, 12 mi · $75.9M
- ROMAN CATHOLIC DIOCESE OF TULSA · Broken Arrow, 12 mi · $68.3M
- WILLIE GEORGE MINISTRIES, INC · Tulsa, 9 mi · $59.6M
- VICTORY CHRISTIAN CENTER INC · Tulsa, 7 mi · $56.8M
- THE CHURCH AT BATTLECREEK INC. · Broken Arrow, 11 mi · $44.9M
- ONEOK, Inc. · Tulsa, 1 mi · $33.63B
- Helmerich & Payne · Tulsa, 1 mi · $3.75B
- EXPLORER PIPELINE COMPANY · Tulsa, 7 mi · $619.2M
- MID-CON ENERGY OPERATING, LLC · Tulsa, 6 mi · $467.9M
- SAMSON RESOURCES II OPCO, LLC · Tulsa, 0 mi · $326.8M
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| HALL, ESTILL, HARDWICK, GABLE, GOLDEN & NELSON, P.C. this business | $77.1M | — |
| Kotv, Inc. Tulsa | $948K | 0.1 mi |
| Charneybrown, Llc Tulsa | $948K | 0.2 mi |
| GableGotwals Tulsa | $948K | 0.2 mi |
| THE LAW OFFICE OF JOHN M. DUNN, PLLC Tulsa · 3 employees | $964K | 0.3 mi |
| Frederic Dorwart, Lawyers PLLC Tulsa | $948K | 0.3 mi |
| Old City Hall Tulsa | $948K | 0.3 mi |
The full calculation
| Employees reported to the SBA | 182 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $70.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $64.9M |
| Estimate: the two combined (geometric mean) | $77.1M |
| EBITDA margin (industry, adjusted for size) | 12% |
| EBITDA = revenue × margin | $9.1M |
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 | $44.4M |
| Multiple for this size and industry | 4.9× |
| Value range | $23.3M – $60.7M |
| Revenue range | $50.7M – $87.9M |
| EBITDA range | $6.0M – $10.3M |
| Industry (NAICS) | Offices of Lawyers (541110) |
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. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
“One of the Southwest's most trusted regional law firms since 1966, Hall Estill delivers powerful results to its clients regionally, nationally and internationally.”
Advisors
- AccountingEide Bailly LLPAudits its 401(k) plan (2025 filing)
- BankingMidFirst 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
| MidFirst Bank PPP 2020 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $3.5M | 182 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.
Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. is a law firms company in Tulsa, Oklahoma, in business since 1966. It is owned by Walter Hall (Founder). Its estimated annual revenue is about $77.1M, with roughly $9.1M of EBITDA. It has about 160 employees. Its estimated business value is $44.4M (likely range $23.3M–$60.7M).
Common questions
- Who owns Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.?
- Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. is owned by Walter Hall (Founder), according to public sources such as the company's website or filings.
- How much revenue does Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. make?
- SeeBITDA estimates Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C.'s annual revenue at about $77.1M (likely between $50.7M and $87.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. worth?
- About $44.4M, roughly 4.9× its estimated EBITDA of $9.1M, typical for a law firms company its size. Likely range: $23.3M–$60.7M.
- How many employees does Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. have?
- About 160, from its 2025 retirement-plan filing.
- When was Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. founded?
- Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. has been in business since 1966.
- Is Hall, Estill, Hardwick, Gable, Golden & Nelson, P.C. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 60 years (since 1966); founder still runs it after 60 years.