National Bus Sales Inc
How we got $61.2M
Based on its 44 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 37 years (since 1989)
From public records and the company's website, not a statement that it's for sale.
What they do
National Bus Sales is a Tulsa, OK bus dealership selling new and used school buses, coach buses, shuttle buses, activity buses, and vans, with parts and service through its National Truck & Bus division. It serves school districts, churches, tour operators, nonprofits and other businesses nationwide.
From the company's website. Industry: Automobile and other motor vehicle merchant wholesalers.
Customers & suppliers
Suppliers & brands
- Prevost · brand it sells or installs
- MCI · brand it sells or installs
- Van Hool · brand it sells or installs
- Volvo 9700 · brand it sells or installs
- Setra · brand it sells or installs
- Temsa · brand it sells or installs
- Executive Coach Builders · brand it sells or installs
- SuperCoach XL · brand it sells or installs
- MegaCoach Freightliner · brand it sells or installs
- Blue Bird · brand it sells or installs
- International · brand it sells or installs
- Thomas · brand it sells or installs
- Trans Tech · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- PERSIMMON RIDGE LLC · Tulsa, 11 mi · $116.9M
- OKLAHOMA BAPTIST UNIVERSITY · Shawnee, 67 mi · $76.0M
- COMMUNITY ACTION PROJECT OF TULSA COUNTY, INC. · Tulsa, 10 mi · $68.9M
- OKLAHOMA WESLEYAN UNIVERSITY, INC · Bartlesville, 47 mi · $32.2M
- HOLLAND HALL · Tulsa, 10 mi · $30.2M
- FOLDS OF HONOR FOUNDATION · Owasso, 22 mi · $75.9M
- ROMAN CATHOLIC DIOCESE OF TULSA · Broken Arrow, 14 mi · $67.1M
- WILLIE GEORGE MINISTRIES, INC · Tulsa, 17 mi · $58.5M
- VICTORY CHRISTIAN CENTER INC · Tulsa, 7 mi · $55.8M
- THE CHURCH AT BATTLECREEK INC. · Broken Arrow, 16 mi · $44.8M
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
▲ 73% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 44 | $48.3M |
| 2020 | Form 5500 | 49 | $53.7M |
| 2021 | Form 5500 | 53 | $58.1M |
| 2022 | Form 5500 | 52 | $57.0M |
| 2023 | Form 5500 | 60 | $65.8M |
| 2024 | Form 5500 | 76 | $83.4M |
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| NATIONAL BUS SALES INC this business | $164.4M | — |
| NATIONAL TRANSPORTATION FLEET SERVICES, INC Tulsa · 20 employees | $65.0M | 0.0 mi |
| AFFINITY AUTO INC Tulsa · 4 employees | $19.4M | 7.2 mi |
| IAUTO ENTERPRISES LTD. Tulsa · 1 employees | $3.9M | 9.1 mi |
| CIMARRON AUTO SALES LLC Tulsa · 1 employees | $4.8M | 10.1 mi |
| ORION'S MOTORS LLC Tulsa · 1 employees | $5.5M | 10.5 mi |
| GAB MOTORS LLC Bixby · 2 employees | $8.8M | 10.9 mi |
The full calculation
| Employees reported to the SBA | 44 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $180.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $115.6M |
| Estimate: the two combined (geometric mean) | $164.4M |
| EBITDA margin (industry, adjusted for size) | 6% |
| EBITDA = revenue × margin | $9.9M |
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 | $61.2M |
| Multiple for this size and industry | 6.2× |
| Value range | $32.2M – $83.7M |
| Revenue range | $108.2M – $187.5M |
| EBITDA range | $6.5M – $11.2M |
| Industry (NAICS) | Automobile and other motor vehicle merchant wholesalers (423110) |
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
“What began in 1989 has grown into a premier nationwide bus dealership, offering buses for sale across all 50 states and beyond.”
Advisors
- BankingFirst Oklahoma 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
| First Oklahoma Bank PPP 2020, PPP 2021 | All 695 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $427K | 44 |
| 1/19/2021 | second | $475K | 36 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About National Bus Sales Inc
National Bus Sales Inc is an automobile and other motor vehicle merchant wholesalers company in Tulsa, Oklahoma, in business since 1989. Its estimated annual revenue is about $164.4M, with roughly $9.9M of EBITDA. It has about 76 employees. Its estimated business value is $61.2M (likely range $32.2M–$83.7M).
Common questions
- Who owns National Bus Sales Inc?
- The owner of National Bus Sales 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 National Bus Sales Inc make?
- SeeBITDA estimates National Bus Sales Inc's annual revenue at about $164.4M (likely between $108.2M and $187.5M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is National Bus Sales Inc worth?
- About $61.2M, roughly 6.2× its estimated EBITDA of $9.9M, typical for a automobile and other motor vehicle merchant wholesalers company its size. Likely range: $32.2M–$83.7M.
- How many employees does National Bus Sales Inc have?
- About 76, from its 2024 retirement-plan filing.
- When was National Bus Sales Inc founded?
- National Bus Sales Inc has been in business since 1989.