U-Change Lock Industries, Inc.
How we got $2.4M
Based on its 26 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 46% 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
▼ 35% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 26 | $3.9M |
| 2020 | Form 5500 | 19 | $2.9M |
| 2021 | Form 5500 | 17 | $2.6M |
| 2022 | Form 5500 | 17 | $2.6M |
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.
What we know
Customers & suppliers
Customers
- Department of the Air Force · federal contracts $68K
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| U-CHANGE LOCK INDUSTRIES, INC. this business | $5.8M | — |
| Security Solutions Mustang | $1.6M | 0.1 mi |
| CHARRICK ASSOCIATES INC, DBA ACTION LOCK AND SAFE Mustang · 2 employees | $585K | 2.1 mi |
| INNOVATIVE SECURITY OF OKLAHOMA LLC Mustang · 3 employees | $219K | 2.1 mi |
| OMEGA SECURITY SPECIALISTS INC. Oklahoma City · 17 employees | $1.3M | 5.5 mi |
| ACTION FIRST SECURITY Yukon · 13 employees | $1.1M | 6.2 mi |
| minuteKEY Yukon | $2.0M | 6.2 mi |
The full calculation
| Employees reported to the SBA | 26 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $5.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $4.7M |
| Estimate: the two combined (geometric mean) | $5.8M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $623K |
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 | $2.4M |
| Multiple for this size and industry | 3.8× |
| Value range | $1.2M – $3.2M |
| Revenue range | $3.8M – $6.6M |
| EBITDA range | $410K – $710K |
| Industry (NAICS) | Locksmiths (561622) |
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. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
Advisors
- BankingFirst Fidelity 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
| First Fidelity Bank PPP 2020, PPP 2021 | All 940 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $190K | 26 |
| 3/26/2021 | second | $122K | 22 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About U-Change Lock Industries, Inc.
U-Change Lock Industries, Inc. is a security services company in Mustang, Oklahoma. Its estimated annual revenue is about $5.8M, with roughly $623K of EBITDA. It has about 17 employees. Its estimated business value is $2.4M (likely range $1.2M–$3.2M).
Common questions
- Who owns U-Change Lock Industries, Inc.?
- The owner of U-Change Lock Industries, 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 U-Change Lock Industries, Inc. make?
- SeeBITDA estimates U-Change Lock Industries, Inc.'s annual revenue at about $5.8M (likely between $3.8M and $6.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is U-Change Lock Industries, Inc. worth?
- About $2.4M, roughly 3.8× its estimated EBITDA of $623K, typical for a security services company its size. Likely range: $1.2M–$3.2M.
- How many employees does U-Change Lock Industries, Inc. have?
- About 17, from its 2022 retirement-plan filing.