Stillwater Milling Company, LLC
How we got $46.6M
Based on its 72 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 135 years (since 1891)
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Stillwater Milling Company operates retail feed and farm supply stores in Oklahoma and supplies A&M Feeds through independent dealers. It sells livestock feed, garden, pet and ranch supplies.
From the company's website. Industry: Other Animal Food Manufacturing.
Customers & suppliers
Suppliers & brands
- A&M Feeds · brand it sells or installs
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- DRUMMOND CATTLE LLC · Tulsa, 61 mi · $129.5M
- WINTER LIVESTOCK, INC · Enid, 51 mi · $60.2M
- LAZY J ARENA, LLC · Stillwater, 6 mi · $30.7M
- FIRE LEAF ENTERPRISES LLC · Oklahoma City, 54 mi · $30.1M
- EXPRESS RANCHES INC · Yukon, 56 mi · $18.0M
Estimated value over time
▲ 56% 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
▲ 69% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 72 | $79.1M |
| 2020 | Form 5500 | 128 | $140.5M |
| 2021 | Form 5500 | 124 | $136.1M |
| 2022 | Form 5500 | 120 | $131.8M |
| 2023 | Form 5500 | 132 | $144.9M |
| 2024 | Form 5500 | 134 | $147.1M |
| 2025 | Form 5500 | 122 | $133.9M |
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 |
|---|---|---|
| STILLWATER MILLING COMPANY, LLC this business | $108.2M | — |
| FEED PRODUCTS, LLC Stroud · 10 employees | $7.8M | 32.3 mi |
| ELITE ENDEAVORS, LLC Edmond · 40 employees | $42.5M | 34.5 mi |
| 212 LOGISTICS, LLC Edmond · 18 employees | $21.8M | 41.1 mi |
| THE FEED BARN, LLC Enid · 2 employees | $1.5M | 44.7 mi |
| MODA, INC. Oklahoma City · 7 employees | $8.2M | 48.6 mi |
| RB'S BEARINGER COMPANY, LLC Piedmont · 19 employees | $15.2M | 50.6 mi |
The full calculation
| Employees reported to the SBA | 72 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $80.2M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $112.3M |
| Estimate: the two combined (geometric mean) | $108.2M |
| EBITDA margin (industry, adjusted for size) | 7% |
| EBITDA = revenue × margin | $7.2M |
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 | $46.6M |
| Multiple for this size and industry | 6.5× |
| Value range | $24.5M – $63.8M |
| Revenue range | $71.2M – $123.4M |
| EBITDA range | $4.7M – $8.2M |
| Industry (NAICS) | Other Animal Food Manufacturing (311119) |
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 ancestor of Stillwater Milling Company was Thomas and Plummer Perfection Mills, established in 1891 to make wheat flour and corn meal for home baking.”
Leadership
- HCHaskell CuddCEO · Company website · source
- AGAndy GoodholmOwner (purchased the company in 1918) · Company website · source
- PWPaul WiseCo-owner (purchased the mill in 1933) · Company website · source
- JBJames BerryCo-owner (purchased the mill in 1933) · Company website · source
- AFAlice FowlerCEO (2006-2012) · Company website · source
- DFDavid FairbanksCEO (through 2018) · Company website · source
Advisors
- AccountingPeters & Chandler, P.C.Audits its 401(k) plan (2025 filing)
- BankingSimmons 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
| Simmons Bank PPP 2020 | All 789 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/28/2020 | first | $1.1M | 72 |
3 locations
| 512 East Sixth Ave | Stillwater | This listing |
| 205 S A St | Davis | View |
| 206 Gene Taylor St | Perry | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Stillwater Milling Company, LLC
Stillwater Milling Company, LLC is an other animal food manufacturing company in Stillwater, Oklahoma, in business since 1891. It is owned by Pam Gill Moore (CEO). Its estimated annual revenue is about $108.2M, with roughly $7.2M of EBITDA. It has about 122 employees. Its estimated business value is $46.6M (likely range $24.5M–$63.8M). It has 3 locations.
Common questions
- Who owns Stillwater Milling Company, LLC?
- Stillwater Milling Company, LLC is owned by Pam Gill Moore (CEO), according to public sources such as the company's website or filings.
- How much revenue does Stillwater Milling Company, LLC make?
- SeeBITDA estimates Stillwater Milling Company, LLC's annual revenue at about $108.2M (likely between $71.2M and $123.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Stillwater Milling Company, LLC worth?
- About $46.6M, roughly 6.5× its estimated EBITDA of $7.2M, typical for a other animal food manufacturing company its size. Likely range: $24.5M–$63.8M.
- How many employees does Stillwater Milling Company, LLC have?
- About 122, from its 2025 retirement-plan filing.
- When was Stillwater Milling Company, LLC founded?
- Stillwater Milling Company, LLC has been in business since 1891.
- Is Stillwater Milling Company, LLC for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 135 years (since 1891); no family successor named on its website.