Stewart Stone, Inc.
How we got $16.1M
Based on its 21 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Estimated value over time
▲ 50% 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 |
|---|---|---|
| STEWART STONE, INC. this business | $12.9M | — |
| STILLWATER SAND & GRAVEL CO. Stillwater · 5 employees | $2.4M | 4.8 mi |
| STEWART STONE INC Cushing · 43 employees | $20.4M | 18.3 mi |
| SWT CONSTRUCTION LLC Wellston · 1 employees | $458K | 29.1 mi |
| WESTERN SIERRA RESOURCE CORP Edmond · 7 employees | $4.8M | 35.6 mi |
| TRIPLE T CONSTRUCTION AND PAVING LLC Edmond · 11 employees | $4.8M | 36.1 mi |
| Arbuckle Materials Edmond | $5.2M | 36.2 mi |
The full calculation
| Employees reported to the SBA | 21 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $10.9M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $11.7M |
| Estimate: the two combined (geometric mean) | $12.9M |
| EBITDA margin (industry, adjusted for size) | 23% |
| EBITDA = revenue × margin | $2.9M |
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 | $16.1M |
| Multiple for this size and industry | 5.5× |
| Value range | $8.5M – $22.0M |
| Revenue range | $8.5M – $14.7M |
| EBITDA range | $1.9M – $3.3M |
| Industry (NAICS) | Crushed and Broken Limestone Mining and Quarrying (212312) |
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 Bank & 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 Roles are as stated there and may be out of date.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 Bank and Trust Co PPP 2020 | All 694 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/14/2020 | first | $241K | 21 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Stewart Stone, Inc.
Stewart Stone, Inc. is a crushed and broken limestone mining and quarrying company in Stillwater, Oklahoma. It is owned by Larry Stewart (President and CEO). Its estimated annual revenue is about $12.9M, with roughly $2.9M of EBITDA. It has about 21 employees. Its estimated business value is $16.1M (likely range $8.5M–$22.0M).
Common questions
- Who owns Stewart Stone, Inc.?
- Stewart Stone, Inc. is owned by Larry Stewart (President and CEO), according to public sources such as the company's website or filings.
- How much revenue does Stewart Stone, Inc. make?
- SeeBITDA estimates Stewart Stone, Inc.'s annual revenue at about $12.9M (likely between $8.5M and $14.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Stewart Stone, Inc. worth?
- About $16.1M, roughly 5.5× its estimated EBITDA of $2.9M, typical for a crushed and broken limestone mining and quarrying company its size. Likely range: $8.5M–$22.0M.
- How many employees does Stewart Stone, Inc. have?
- About 21, as reported on its PPP loan.