Null Farms, LLC
How we got $3.2M
Based on its 5 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.
Estimated value over time
▲ 23% 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 |
|---|---|---|
| NULL FARMS, LLC this business | $21.3M | — |
| Consolidated Grain and Barge Co. Carnegie | $300.8M | 28.5 mi |
| CLINTON LIVESTOCK AUCTION, L.L.C. Clinton · 2 employees | $9.9M | 37.9 mi |
| APACHE FARMERS CO-OPERATIVE Apache · 41 employees | $200.3M | 41.8 mi |
| SMITH CATTLE COMPANY INC. Elgin · 3 employees | $12.2M | 46.2 mi |
| Cooperative Service Inc Chattanooga | $30.1M | 46.9 mi |
| F&G HOG & CATTLE CO Elgin · 2 employees | $11.8M | 52.3 mi |
The full calculation
| Employees reported to the SBA | 5 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $21.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $16.5M |
| Estimate: the two combined (geometric mean) | $21.3M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $891K |
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 | $3.2M |
| Multiple for this size and industry | 3.6× |
| Value range | $1.7M – $4.4M |
| Revenue range | $14.0M – $24.2M |
| EBITDA range | $586K – $1.0M |
| Industry (NAICS) | Grain and Field Bean Merchant Wholesalers (424510) |
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
Advisors
- BankingBancFirstPPP / 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 Roles are as stated there and may be out of date.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
| BancFirst PPP 2020 | All 7,048 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/11/2020 | first | $43K | 5 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Null Farms, LLC
Null Farms, LLC is a grain and field bean merchant wholesalers company in Hobart, Oklahoma, in business since 2000. It is owned by Larry Null. Its estimated annual revenue is about $21.3M, with roughly $891K of EBITDA. It has about 5 employees. Its estimated business value is $3.2M (likely range $1.7M–$4.4M).
Common questions
- Who owns Null Farms, LLC?
- Null Farms, LLC is owned by Larry Null, according to public sources such as the company's website or filings.
- How much revenue does Null Farms, LLC make?
- SeeBITDA estimates Null Farms, LLC's annual revenue at about $21.3M (likely between $14.0M and $24.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Null Farms, LLC worth?
- About $3.2M, roughly 3.6× its estimated EBITDA of $891K, typical for a grain and field bean merchant wholesalers company its size. Likely range: $1.7M–$4.4M.
- How many employees does Null Farms, LLC have?
- About 5, as reported on its PPP loan.
- When was Null Farms, LLC founded?
- Null Farms, LLC has been in business since 2000.