Matthews Trenching Co., Inc
How we got $15.2M
Based on its 65 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 79 years (since 1947)
- Founder still runs it after 79 years
From public records and the company's website, not a statement that it's for sale.
What they do
Matthews Trenching Co., Inc. provides commercial and residential site utility and earthwork services in the Oklahoma City area, and has served the area since 1947.
From the company's website. Industry: Water and Sewer Line and Related Structures Construction.
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.
Employees over time
▲ 8% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 65 | $23.0M |
| 2020 | Form 5500 | 48 | $17.0M |
| 2021 | Form 5500 | 41 | $14.5M |
| 2022 | Form 5500 | 38 | $13.4M |
| 2023 | Form 5500 | 36 | $12.7M |
| 2024 | Form 5500 | 53 | $18.7M |
| 2025 | Form 5500 | 70 | $24.8M |
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| MATTHEWS TRENCHING CO., INC this business | $37.9M | — |
| Weatherford Us Lp Oklahoma City | $11.5M | 0.5 mi |
| KRAPFF-REYNOLDS CONSTRUCTION COMPANY Oklahoma City · 59 employees | $30.9M | 1.0 mi |
| OPECO, INC. Oklahoma City · 39 employees | $17.1M | 2.3 mi |
| SK SHEMOR & ASSOCOATES, LLC Oklahoma City · 20 employees | $6.5M | 2.4 mi |
| OKLAND OIL COMPANY Oklahoma City · 16 employees | $7.6M | 2.7 mi |
| NORTHWEST TRANSFORMER CO., INC. Oklahoma City · 26 employees | $8.9M | 2.8 mi |
The full calculation
| Employees reported to the SBA | 65 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $32.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $33.9M |
| Estimate: the two combined (geometric mean) | $37.9M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $3.7M |
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 | $15.2M |
| Multiple for this size and industry | 4.1× |
| Value range | $8.0M – $20.8M |
| Revenue range | $24.9M – $43.2M |
| EBITDA range | $2.4M – $4.2M |
| 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
People & advisors
“Matthews Trenching Co. Inc. (MTCI) was founded in 1947 by Clarence Matthews and incorporated in 1973.”
Leadership
- MMMarilyn MatthewsSigned for the company · 2025 retirement-plan filing (Form 5500)
Advisors
- BankingRCB 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
| 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 |
|---|---|---|---|
| 4/14/2020 | first | $745K | 65 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Matthews Trenching Co., Inc
Matthews Trenching Co., Inc is a water and sewer line and related structures construction company in Oklahoma City, Oklahoma, in business since 1947. It is owned by Clarence Matthews (Founder). Its estimated annual revenue is about $37.9M, with roughly $3.7M of EBITDA. It has about 70 employees. Its estimated business value is $15.2M (likely range $8.0M–$20.8M).
Common questions
- Who owns Matthews Trenching Co., Inc?
- Matthews Trenching Co., Inc is owned by Clarence Matthews (Founder), according to public sources such as the company's website or filings.
- How much revenue does Matthews Trenching Co., Inc make?
- SeeBITDA estimates Matthews Trenching Co., Inc's annual revenue at about $37.9M (likely between $24.9M and $43.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Matthews Trenching Co., Inc worth?
- About $15.2M, roughly 4.1× its estimated EBITDA of $3.7M, typical for a water and sewer line and related structures construction company its size. Likely range: $8.0M–$20.8M.
- How many employees does Matthews Trenching Co., Inc have?
- About 70, from its 2025 retirement-plan filing.
- When was Matthews Trenching Co., Inc founded?
- Matthews Trenching Co., Inc has been in business since 1947.
- Is Matthews Trenching Co., Inc for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 79 years (since 1947); founder still runs it after 79 years.