Progressive Energy, LLC
How we got $104.5M
Based on its 31 employees and its payroll, both reported for PPP in 2020 and brought up to date.
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.
What we know
Signs of a sale Unlikely to sell soon
- In business 16 years (since 2010)
From public records and the company's website, not a statement that it's for sale.
What they do
Progressive Energy, LLC is a fuel marketing and distribution company supplying branded and unbranded fuel, along with transport and sales services. It also owns and operates convenience stores in Southern Oklahoma.
From the company's website. Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals).
Customers & suppliers
Suppliers & brands
- Conoco · brand it sells or installs
- Phillips · brand it sells or installs
- Valero · brand it sells or installs
- Shamrock · brand it sells or installs
- Cenex · brand it sells or installs
- Finish Line Fuels · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- DOWNTOWN STORES, LLC · Duncan, 50 mi · $45.4M
- J&B STATIONS, LLC · Duncan, 50 mi · $35.6M
- SOONER FOODS, INC. · Sulphur, 26 mi · $33.4M
- CLINK'S, INC. · Comanche, 47 mi · $32.1M
- HIGHWAY RUNNERS, LLC · Duncan, 50 mi · $30.3M
- BILLINGSLEY HOLDING CO., LLC · Ardmore, 0 mi · $256.9M
- BADGER VALLEY INVESTMENTS, LLC · Pauls Valley, 40 mi · $223.5M
- BADGER VALLEY ENTERPRISES, LLC · Pauls Valley, 40 mi · $179.8M
- PATRIOT AUTO GROUP 5, LLC · Ardmore, 1 mi · $91.1M
- MONGOOSE ENTERPRISES OF ADA, LLC · Ada, 51 mi · $86.7M
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| PROGRESSIVE ENERGY, LLC this business | $391.6M | — |
| LAURCO ENERGIES INC Ardmore · 1 employees | $20.6M | 2.3 mi |
| MMR PETROLEUM INC Springer · 3 employees | $61.9M | 11.2 mi |
| MARTIN PETROLEUM INC Marietta · 1 employees | $13.0M | 16.2 mi |
| KECK'S PROPANE LLC Foster · 2 employees | $14.0M | 41.4 mi |
| WESTERN FUEL CO., LLC Maysville · 3 employees | $49.4M | 48.0 mi |
| P&C SERVICE INC. Lindsay · 3 employees | $28.6M | 53.3 mi |
The full calculation
| Employees reported to the SBA | 31 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $541.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $218.0M |
| Estimate: the two combined (geometric mean) | $391.6M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $14.7M |
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 | $104.5M |
| Multiple for this size and industry | 7.1× |
| Value range | $55.0M – $143.0M |
| Revenue range | $257.6M – $446.4M |
| EBITDA range | $9.7M – $16.8M |
| Industry (NAICS) | Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720) |
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
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, PPP 2021 | 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 |
|---|---|---|---|
| 4/6/2020 | first | $207K | 31 |
| 1/30/2021 | second | $207K | 31 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Progressive Energy, LLC
Progressive Energy, LLC is a petroleum and petroleum products merchant wholesalers (except bulk stations and terminals) company in Ardmore, Oklahoma, in business since 2010. Its estimated annual revenue is about $391.6M, with roughly $14.7M of EBITDA. It has about 31 employees. Its estimated business value is $104.5M (likely range $55.0M–$143.0M).
Common questions
- Who owns Progressive Energy, LLC?
- The owner of Progressive Energy, 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 Progressive Energy, LLC make?
- SeeBITDA estimates Progressive Energy, LLC's annual revenue at about $391.6M (likely between $257.6M and $446.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Progressive Energy, LLC worth?
- About $104.5M, roughly 7.1× its estimated EBITDA of $14.7M, typical for a petroleum and petroleum products merchant wholesalers (except bulk stations and terminals) company its size. Likely range: $55.0M–$143.0M.
- How many employees does Progressive Energy, LLC have?
- About 31, as reported on its PPP loan.
- When was Progressive Energy, LLC founded?
- Progressive Energy, LLC has been in business since 2010.