Neco Industries Inc
- Joni NelsonSigns company filings · Form 5500 (2022)
How we got $16.0M
Based on its 23 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 37% 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
▼ 48% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 23 | $16.5M |
| 2020 | Form 5500 | 18 | $12.9M |
| 2021 | Form 5500 | 15 | $10.7M |
| 2022 | Form 5500 | 14 | $10.0M |
| 2023 | Form 5500 | 13 | $9.3M |
| 2024 | Form 5500 | 12 | $8.6M |
| 2025 | Form 5500 | 12 | $8.6M |
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 Some signs of a sale
- In business 46 years (since 1980)
From public records and the company's website, not a statement that it's for sale.
What they do
Neco Industries is a ISO 9001:2015 certified contract manufacturer (job shop) in Central Oklahoma specializing in precision metal fabrication, precision machining, and seals and gaskets. It serves customers in industries including aerospace, energy and medical.
From the company's website. Industry: Iron and Steel Pipe and Tube Manufacturing from Purchased Steel.
Customers & suppliers
Customers
- Federal Aviation Administration · federal contracts $44K
- Defense Logistics Agency · federal contracts $-514
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| NECO INDUSTRIES INC this business | $33.5M | — |
| D&D DESIGN & MANUFACTURING, INC Oklahoma City · 6 employees | $3.7M | 2.1 mi |
| Tenaris Oklahoma City | $9.6M | 5.9 mi |
| BBM STEEL BUILDINGS INC Oklahoma City · 21 employees | $28.4M | 9.3 mi |
| BIGFOOT PIPE & PILING LLC Oklahoma City · 7 employees | $5.0M | 11.2 mi |
| SHIELDS PIPE CORPORATION Edmond · 2 employees | $2.7M | 13.8 mi |
| WEIBEE STEEL LLC Norman · 25 employees | $34.4M | 17.8 mi |
The full calculation
| Employees reported to the SBA | 23 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $25.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $33.6M |
| Estimate: the two combined (geometric mean) | $33.5M |
| EBITDA margin (industry, adjusted for size) | 8% |
| EBITDA = revenue × margin | $2.8M |
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 | $16.0M |
| Multiple for this size and industry | 5.8× |
| Value range | $8.4M – $21.9M |
| Revenue range | $22.0M – $38.2M |
| EBITDA range | $1.8M – $3.2M |
| Industry (NAICS) | Iron and Steel Pipe and Tube Manufacturing from Purchased Steel (331210) |
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
History & advisors
“In the spring of 1980, in a small 800 square foot building in central Oklahoma City, Neco Industries opened for business, after a few years and several new customers we realized it was time to expand, so we relocated to the city of Edmond Oklahoma.”
Advisors
- BankingFirst Bethany Bank & TrustPPP / 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 Bethany Bank & Trust PPP 2020, PPP 2021 | All 186 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $288K | 23 |
| 1/16/2021 | second | $250K | 19 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Neco Industries Inc
Neco Industries Inc is an iron and steel pipe and tube manufacturing from purchased steel company in Oklahoma City, Oklahoma, in business since 1980. Its estimated annual revenue is about $33.5M, with roughly $2.8M of EBITDA. It has about 12 employees. Its estimated business value is $16.0M (likely range $8.4M–$21.9M).
Common questions
- Who owns Neco Industries Inc?
- The owner of Neco Industries 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 Neco Industries Inc make?
- SeeBITDA estimates Neco Industries Inc's annual revenue at about $33.5M (likely between $22.0M and $38.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Neco Industries Inc worth?
- About $16.0M, roughly 5.8× its estimated EBITDA of $2.8M, typical for a iron and steel pipe and tube manufacturing from purchased steel company its size. Likely range: $8.4M–$21.9M.
- How many employees does Neco Industries Inc have?
- About 12, from its 2025 retirement-plan filing.
- When was Neco Industries Inc founded?
- Neco Industries Inc has been in business since 1980.