Steel Thinking, Inc.
How we got $5.6M
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 25 years (since 2001)
From public records and the company's website, not a statement that it's for sale.
What they do
Steel Thinking Inc is an Oklahoma-owned, Oklahoma-made steel fabrication shop in Washington, OK, offering laser cutting, flame cutting, press brake forming and powder coating, from one-off items to full production runs.
From the company's website. Industry: Industrial Valve Manufacturing.
Customers & suppliers
Customers
- Farwest Steel corporation · named on its website
Estimated value over time
▲ 9% 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 |
|---|---|---|
| STEEL THINKING, INC. this business | $10.4M | — |
| CORROSOURCE, LLC Norman · 7 employees | $4.5M | 8.0 mi |
| TIPTONS PLUMBIMG AND SEWER LLC Oklahoma City · 2 employees | $1.6M | 15.9 mi |
| HORN EQUIPMENT COMPANY, INC. Moore · 63 employees | $45.9M | 16.5 mi |
| WORLD WATER WORKS INC Oklahoma City · 96 employees | $46.1M | 17.0 mi |
| AMERICAN DIRECTIONAL TECHNOLOGY, INC. Wayne · 40 employees | $26.7M | 17.9 mi |
| CFM INDUSTRIES LLC Wayne · 2 employees | $2.0M | 18.2 mi |
The full calculation
| Employees reported to the SBA | 22 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $8.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $9.5M |
| Estimate: the two combined (geometric mean) | $10.4M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $1.2M |
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 | $5.6M |
| Multiple for this size and industry | 4.7× |
| Value range | $3.0M – $7.7M |
| Revenue range | $6.9M – $11.9M |
| EBITDA range | $785K – $1.4M |
| Industry (NAICS) | Industrial Valve Manufacturing (332911) |
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
- BankingFirst United Bank and Trust CompanyPPP / 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
| First United Bank and Trust Company PPP 2020 | All 2,229 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 | $281K | 22 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Steel Thinking, Inc.
Steel Thinking, Inc. is an industrial valve manufacturing company in Washington, Oklahoma, in business since 2001. It is owned by Pete Hoffman. Its estimated annual revenue is about $10.4M, with roughly $1.2M of EBITDA. It has about 22 employees. Its estimated business value is $5.6M (likely range $3.0M–$7.7M).
Common questions
- Who owns Steel Thinking, Inc.?
- Steel Thinking, Inc. is owned by Pete Hoffman, according to public sources such as the company's website or filings.
- How much revenue does Steel Thinking, Inc. make?
- SeeBITDA estimates Steel Thinking, Inc.'s annual revenue at about $10.4M (likely between $6.9M and $11.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Steel Thinking, Inc. worth?
- About $5.6M, roughly 4.7× its estimated EBITDA of $1.2M, typical for a industrial valve manufacturing company its size. Likely range: $3.0M–$7.7M.
- How many employees does Steel Thinking, Inc. have?
- About 22, as reported on its PPP loan.
- When was Steel Thinking, Inc. founded?
- Steel Thinking, Inc. has been in business since 2001.