Spencer Enterprises, Inc.
How we got $2.2M
Based on its 21 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 31 years (since 1995)
From public records and the company's website, not a statement that it's for sale.
Estimated value over time
▲ 34% 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
▲ 0% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 21 | $5.1M |
| 2020 | Form 5500 | 12 | $2.9M |
| 2021 | Form 5500 | 13 | $3.2M |
| 2022 | Form 5500 | 16 | $3.9M |
| 2023 | Form 5500 | 16 | $3.9M |
| 2024 | Form 5500 | 21 | $5.1M |
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 |
|---|---|---|
| SPENCER ENTERPRISES, INC. this business | $8.6M | — |
| RDNJ, LLC Oklahoma City · 44 employees | $21.6M | 2.0 mi |
| GRA SERVICES INTERNATIONAL, LLC Oklahoma City · 4 employees | $1.6M | 2.0 mi |
| COE PLUMBING INC Oklahoma City · 17 employees | $5.4M | 3.0 mi |
| BYERLEY SERVICES LLC Oklahoma City · 7 employees | $3.0M | 3.1 mi |
| POOL TENDERS INC Midwest City · 2 employees | $1.0M | 3.1 mi |
| ARMOR ASPHALT, LLC Oklahoma City · 21 employees | $7.6M | 3.3 mi |
The full calculation
| Employees reported to the SBA | 21 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $8.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $6.9M |
| Estimate: the two combined (geometric mean) | $8.6M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $797K |
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 | $2.2M |
| Multiple for this size and industry | 2.8× |
| Value range | $1.2M – $3.1M |
| Revenue range | $5.6M – $9.8M |
| EBITDA range | $524K – $909K |
| Industry (NAICS) | Site Preparation Contractors (238910) |
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
- BankingCross River Bank, Leader Bank, National AssociationPPP / 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
| Cross River Bank PPP 2020 | All 589 borrowers → |
| Leader Bank, National Association PPP 2021 | All 29 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 5/1/2020 | first | $212K | 18 |
| 5/12/2021 | second | $272K | 21 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Spencer Enterprises, Inc.
Spencer Enterprises, Inc. is an excavation & site work company in Oklahoma City, Oklahoma, in business since 1995. Its estimated annual revenue is about $8.6M, with roughly $797K of EBITDA. It has about 21 employees. Its estimated business value is $2.2M (likely range $1.2M–$3.1M).
Common questions
- Who owns Spencer Enterprises, Inc.?
- The owner of Spencer Enterprises, 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 Spencer Enterprises, Inc. make?
- SeeBITDA estimates Spencer Enterprises, Inc.'s annual revenue at about $8.6M (likely between $5.6M and $9.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Spencer Enterprises, Inc. worth?
- About $2.2M, roughly 2.8× its estimated EBITDA of $797K, typical for a excavation & site work company its size. Likely range: $1.2M–$3.1M.
- How many employees does Spencer Enterprises, Inc. have?
- About 21, from its 2024 retirement-plan filing.
- When was Spencer Enterprises, Inc. founded?
- Spencer Enterprises, Inc. has been in business since 1995.