Spudder Inc.
How we got $355K
Based on its 22 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 50 years (since 1976)
- Family in the business (Kim Jeffery, Owner)
From public records and the company's website, not a statement that it's for sale.
What they do
The Spudder is a Tulsa, OK steakhouse restaurant serving steaks, known for its 22-ounce bone-in rib eye called "The Gusher".
From the company's website. Industry: Restaurants.
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| SPUDDER INC. this business | $2.0M | — |
| Angie's Fish and Wings (Sheridan) Tulsa | $1.7M | 0.1 mi |
| Sam's Southern Eatery Tulsa | $1.7M | 0.1 mi |
| Eagles Fish and Wings Tulsa | $1.7M | 0.1 mi |
| Little Caesars Pizza Tulsa | $1.7M | 0.1 mi |
| Joys Donuts Tulsa | $1.7M | 0.1 mi |
| Best Burger Box Tulsa | $1.7M | 0.1 mi |
The full calculation
| Employees reported to the SBA | 22 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $1.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $1.8M |
| Estimate: the two combined (geometric mean) | $2.0M |
| EBITDA margin (industry, adjusted for size) | 10% |
| EBITDA = revenue × margin | $197K |
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 | $355K |
| Multiple for this size and industry | 1.8× |
| Value range | $187K – $486K |
| Revenue range | $1.3M – $2.3M |
| EBITDA range | $130K – $225K |
| Industry (NAICS) | Full-Service Restaurants (722511) |
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
“The Spudder was opened by the original owners, John Phillips (grandson of famous oilman Frank Phillips) and John Brennemen, in 1976, and has been in continuous operation since.”
Leadership
- KJKim JefferyOwner · Company website · source
Advisors
- BankingSecurity 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
| Security Bank PPP 2020, PPP 2021 | All 617 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/5/2020 | first | $82K | 22 |
| 1/27/2021 | second | $115K | 17 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Spudder Inc.
Spudder Inc. is a restaurants company in Tulsa, Oklahoma, in business since 1976. It is owned by Steve and Kim Jeffery (Owners). Its estimated annual revenue is about $2.0M, with roughly $197K of EBITDA. It has about 22 employees. Its estimated business value is $355K (likely range $187K–$486K).
Common questions
- Who owns Spudder Inc.?
- Spudder Inc. is owned by Steve and Kim Jeffery (Owners), according to public sources such as the company's website or filings.
- How much revenue does Spudder Inc. make?
- SeeBITDA estimates Spudder Inc.'s annual revenue at about $2.0M (likely between $1.3M and $2.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Spudder Inc. worth?
- About $355K, roughly 1.8× its estimated EBITDA of $197K, typical for a restaurants company its size. Likely range: $187K–$486K.
- How many employees does Spudder Inc. have?
- About 22, as reported on its PPP loan.
- When was Spudder Inc. founded?
- Spudder Inc. has been in business since 1976.