Magic Bait Co., Inc.
How we got $3.2M
Based on its 14 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 7% 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
▼ 14% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 14 | $4.2M |
| 2020 | Form 5500 | 14 | $4.2M |
| 2021 | Form 5500 | 16 | $4.8M |
| 2022 | Form 5500 | 13 | $3.9M |
| 2023 | Form 5500 | 11 | $3.3M |
| 2024 | Form 5500 | 12 | $3.6M |
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 56 years (since 1970)
- Headcount down 25% since 2021 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Magic Bait Co., Inc. makes and sells fishing bait, attractants and tackle for anglers fishing for catfish, crappie, trout, carp and panfish. The site says its baits are made in the USA and have been sold since 1970.
From the company's website. Industry: Sporting and Athletic Goods Manufacturing.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| MAGIC BAIT CO., INC. this business | $5.9M | — |
| Profile Signs Edmond | $1.0M | 11.5 mi |
| M & M POOLS & SPAS, INC. Edmond · 1 employees | $504K | 13.0 mi |
| GENERAL LIGHTING & SIGN SERVICES, INC. Edmond · 15 employees | $3.8M | 13.5 mi |
| VITAL SIGNS HEALTHCARE PLLC Edmond · 1 employees | $350K | 14.6 mi |
| KEELEY ELECTRONICS, INC Edmond · 33 employees | $8.0M | 15.7 mi |
| SIGNS TO GO LLC Edmond · 4 employees | $773K | 16.3 mi |
The full calculation
| Employees reported to the SBA | 14 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $4.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $6.5M |
| Estimate: the two combined (geometric mean) | $5.9M |
| EBITDA margin (industry, adjusted for size) | 14% |
| EBITDA = revenue × margin | $811K |
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 | $3.2M |
| Multiple for this size and industry | 3.9× |
| Value range | $1.7M – $4.3M |
| Revenue range | $3.9M – $6.7M |
| EBITDA range | $534K – $925K |
| Industry (NAICS) | Sporting and Athletic Goods Manufacturing (339920) |
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
Advisors
- BankingSovereign 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
| Sovereign Bank PPP 2020 | All 304 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 | $166K | 14 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Magic Bait Co., Inc.
Magic Bait Co., Inc. is a sporting and athletic goods manufacturing company in Guthrie, Oklahoma, in business since 1970. Its estimated annual revenue is about $5.9M, with roughly $811K of EBITDA. It has about 12 employees. Its estimated business value is $3.2M (likely range $1.7M–$4.3M).
Common questions
- Who owns Magic Bait Co., Inc.?
- The owner of Magic Bait Co., 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 Magic Bait Co., Inc. make?
- SeeBITDA estimates Magic Bait Co., Inc.'s annual revenue at about $5.9M (likely between $3.9M and $6.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Magic Bait Co., Inc. worth?
- About $3.2M, roughly 3.9× its estimated EBITDA of $811K, typical for a sporting and athletic goods manufacturing company its size. Likely range: $1.7M–$4.3M.
- How many employees does Magic Bait Co., Inc. have?
- About 12, from its 2024 retirement-plan filing.
- When was Magic Bait Co., Inc. founded?
- Magic Bait Co., Inc. has been in business since 1970.
- Is Magic Bait Co., Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 56 years (since 1970); headcount down 25% since 2021 (retirement plan filings).