Noria Corporation
How we got $12.1M
Based on its 40 employees and its payroll, both reported for PPP in 2020 and brought up to date.
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
▼ 5% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 40 | $6.6M |
| 2020 | Form 5500 | 33 | $5.4M |
| 2021 | Form 5500 | 36 | $5.9M |
| 2022 | Form 5500 | 35 | $5.7M |
| 2023 | Form 5500 | 37 | $6.1M |
| 2024 | Form 5500 | 38 | $6.2M |
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 29 years (since 1997)
From public records and the company's website, not a statement that it's for sale.
What they do
Noria Corporation, based in Tulsa, OK, provides lubrication and oil analysis services, consulting, and training, and says it serves the world's leading organizations.
From the company's website. Industry: Educational Support Services.
Customers & suppliers
Customers
- Department of the Air Force · federal contracts $292K
- Department of the Navy · federal contracts $32K
- Department of the Army · federal contracts $23K
Suppliers & brands
- AMETEK Spectro Scientific · brand it sells or installs
- Luneta · brand it sells or installs
- perma · brand it sells or installs
- ARGO-HYTOS · brand it sells or installs
- AssetWatch · brand it sells or installs
- ESCO · brand it sells or installs
- CITGO · brand it sells or installs
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| NORIA CORPORATION this business | $14.8M | — |
| BUILDING ALL CHILDREN, INC. Tulsa · 7 employees | $746K | 1.5 mi |
| EXPERT TA, LLC Tulsa · 11 employees | $2.8M | 3.6 mi |
| TULSA HUB SYNDICATE Tulsa · 9 employees | $1.2M | 3.8 mi |
| GAYLA GOWER CONSULTING LLC Tulsa · 1 employees | $289K | 3.9 mi |
| UNDER THE CANOPY LLC Tulsa · 1 employees | $369K | 4.2 mi |
| JENNY NESS-HUNKIN Tulsa · 22 employees | $5.4M | 4.6 mi |
The full calculation
| Employees reported to the SBA | 40 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $8.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $20.5M |
| Estimate: the two combined (geometric mean) | $14.8M |
| EBITDA margin (industry, adjusted for size) | 14% |
| EBITDA = revenue × margin | $2.1M |
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 | $12.1M |
| Multiple for this size and industry | 5.8× |
| Value range | $6.4M – $16.6M |
| Revenue range | $9.8M – $16.9M |
| EBITDA range | $1.4M – $2.4M |
| Industry (NAICS) | Educational Support Services (611710) |
Low confidence: the employee-based and payroll-based estimates differ by more than 2×.
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
“Since 1997, our approach has changed how organizations manage and monitor lubricants for maintaining optimum reliability and safety.”
Advisors
- BankingCommerce 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
| Commerce Bank PPP 2020, PPP 2021 | All 113 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/9/2020 | first | $853K | 40 |
| 2/25/2021 | second | $482K | 30 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Noria Corporation
Noria Corporation is an educational support services company in Tulsa, Oklahoma, in business since 1997. It is owned by Jim Fitch (Founder). Its estimated annual revenue is about $14.8M, with roughly $2.1M of EBITDA. It has about 38 employees. Its estimated business value is $12.1M (likely range $6.4M–$16.6M).
Common questions
- Who owns Noria Corporation?
- Noria Corporation is owned by Jim Fitch (Founder), according to public sources such as the company's website or filings.
- How much revenue does Noria Corporation make?
- SeeBITDA estimates Noria Corporation's annual revenue at about $14.8M (likely between $9.8M and $16.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Noria Corporation worth?
- About $12.1M, roughly 5.8× its estimated EBITDA of $2.1M, typical for a educational support services company its size. Likely range: $6.4M–$16.6M.
- How many employees does Noria Corporation have?
- About 38, from its 2024 retirement-plan filing.
- When was Noria Corporation founded?
- Noria Corporation has been in business since 1997.