Midwest Coatings, Inc.
How we got $2.7M
Based on its 8 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Estimated value over time
▲ 38% 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 |
|---|---|---|
| MIDWEST COATINGS, INC. this business | $5.5M | — |
| COATPRO, LLC Oklahoma City · 3 employees | $2.1M | 4.6 mi |
| POLYGLASS COATINGS LIMITED LLC Oklahoma City · 52 employees | $37.0M | 7.6 mi |
| POWDER COATING PLUS LLC Oklahoma City · 5 employees | $3.6M | 8.3 mi |
| SELECT COATINGS, INC Oklahoma City · 50 employees | $28.5M | 9.4 mi |
| GREAT PLAINS COATINGS, INC. Oklahoma City · 1 employees | $823K | 10.5 mi |
| JIM MOODY PAINT COMPANY Oklahoma City · 9 employees | $5.5M | 13.4 mi |
The full calculation
| Employees reported to the SBA | 8 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $5.4M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $4.3M |
| Estimate: the two combined (geometric mean) | $5.5M |
| EBITDA margin (industry, adjusted for size) | 13% |
| EBITDA = revenue × margin | $709K |
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 | $2.7M |
| Multiple for this size and industry | 3.8× |
| Value range | $1.4M – $3.7M |
| Revenue range | $3.6M – $6.3M |
| EBITDA range | $466K – $808K |
| Industry (NAICS) | Paint and Coating Manufacturing (325510) |
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
People & advisors
Advisors
- BankingFirst United Bank and Trust CompanyPPP / 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 Roles are as stated there and may be out of date.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
| First United Bank and Trust Company PPP 2020 | All 2,229 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 | $78K | 8 |
About Midwest Coatings, Inc.
Midwest Coatings, Inc. is a paint and coating manufacturing company in Oklahoma City, Oklahoma. Its estimated annual revenue is about $5.5M, with roughly $709K of EBITDA. It has about 8 employees. Its estimated business value is $2.7M (likely range $1.4M–$3.7M).
Common questions
- Who owns Midwest Coatings, Inc.?
- The owner of Midwest Coatings, 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 Midwest Coatings, Inc. make?
- SeeBITDA estimates Midwest Coatings, Inc.'s annual revenue at about $5.5M (likely between $3.6M and $6.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Midwest Coatings, Inc. worth?
- About $2.7M, roughly 3.8× its estimated EBITDA of $709K, typical for a paint and coating manufacturing company its size. Likely range: $1.4M–$3.7M.
- How many employees does Midwest Coatings, Inc. have?
- About 8, as reported on its PPP loan.