No Man's Land Foods, LLC
How we got $33.2M
Based on its 115 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 26 years (since 2000)
From public records and the company's website, not a statement that it's for sale.
What they do
No Man's Land Foods makes slow-dried beef jerky and meat sticks, sold online. It describes its products as Oklahoma-style jerky made from steak-grade premium cuts with no artificial flavors, additives, nitrates or nitrites.
From the company's website. Industry: Meat Processed from Carcasses.
Estimated value over time
▲ 44% 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
▲ 50% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 115 | $53.0M |
| 2021 | Form 5500 | 128 | $58.9M |
| 2022 | Form 5500 | 181 | $83.3M |
| 2023 | Form 5500 | 186 | $85.6M |
| 2024 | Form 5500 | 173 | $79.7M |
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 |
|---|---|---|
| NO MAN'S LAND FOODS, LLC this business | $77.1M | — |
| ENID GRAIN INSPECTION CO Enid · 17 employees | $22.7M | 0.1 mi |
| Central Machine and Tool Enid | $3.0M | 0.4 mi |
| PT Coupling Co Enid | $3.0M | 0.6 mi |
| Fastenal Enid | $3.0M | 0.7 mi |
| Adm Enid (milling) Enid | $3.0M | 0.8 mi |
| Arnett Enid New Holland & Kubota Enid | $3.0M | 1.6 mi |
The full calculation
| Employees reported to the SBA | 115 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $80.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $57.0M |
| Estimate: the two combined (geometric mean) | $77.1M |
| EBITDA margin (industry, adjusted for size) | 7% |
| EBITDA = revenue × margin | $5.1M |
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 | $33.2M |
| Multiple for this size and industry | 6.5× |
| Value range | $17.5M – $45.5M |
| Revenue range | $50.7M – $87.9M |
| EBITDA range | $3.4M – $5.8M |
| Industry (NAICS) | Meat Processed from Carcasses (311612) |
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
Advisors
- AccountingForvis Mazars, LLPAudits its 401(k) plan (2024 filing)
- BankingCowboy 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
| Cowboy Bank PPP 2020 | All 286 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 | $728K | 115 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About No Man's Land Foods, LLC
No Man's Land Foods, LLC is a meat processed from carcasses company in Enid, Oklahoma, in business since 2000. Its estimated annual revenue is about $77.1M, with roughly $5.1M of EBITDA. It has about 173 employees. Its estimated business value is $33.2M (likely range $17.5M–$45.5M).
Common questions
- Who owns No Man's Land Foods, LLC?
- The owner of No Man's Land Foods, LLC 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 No Man's Land Foods, LLC make?
- SeeBITDA estimates No Man's Land Foods, LLC's annual revenue at about $77.1M (likely between $50.7M and $87.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is No Man's Land Foods, LLC worth?
- About $33.2M, roughly 6.5× its estimated EBITDA of $5.1M, typical for a meat processed from carcasses company its size. Likely range: $17.5M–$45.5M.
- How many employees does No Man's Land Foods, LLC have?
- About 173, from its 2024 retirement-plan filing.
- When was No Man's Land Foods, LLC founded?
- No Man's Land Foods, LLC has been in business since 2000.