Nichols Water Service, Inc.
How we got $11.2M
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 38 years (since 1988)
From public records and the company's website, not a statement that it's for sale.
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 |
|---|---|---|
| NICHOLS WATER SERVICE, INC. this business | $10.4M | — |
| H5C PUMPING, INC. Forgan · 3 employees | $1.7M | 2.9 mi |
| CHOCKLEY PUMPING, INC Beaver · 2 employees | $721K | 8.8 mi |
| HOWARD DRILLING ENTERPRISES OF TEXAS, L.L.C. Beaver · 23 employees | $9.9M | 9.0 mi |
| WESTERN VENDING, INC. Beaver · 1 employees | $557K | 9.6 mi |
| KERRY'S PUMPING, INC. Beaver · 1 employees | $557K | 17.1 mi |
| HARDBERGER & SMYLIE, INC Beaver · 22 employees | $11.0M | 17.2 mi |
The full calculation
| Employees reported to the SBA | 22 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $9.8M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $8.5M |
| Estimate: the two combined (geometric mean) | $10.4M |
| EBITDA margin (industry, adjusted for size) | 24% |
| EBITDA = revenue × margin | $2.5M |
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 | $11.2M |
| Multiple for this size and industry | 4.4× |
| Value range | $5.9M – $15.3M |
| Revenue range | $6.9M – $11.9M |
| EBITDA range | $1.7M – $2.9M |
| Industry (NAICS) | Support Activities for Oil and Gas Operations (213112) |
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 National Bank and Trust Company of Weatherford d/b/a First Bank TexasPPP / 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 National Bank and Trust Company of Weatherford d/b/a First Bank Texas PPP 2020 | All 28 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/6/2020 | first | $241K | 22 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Nichols Water Service, Inc.
Nichols Water Service, Inc. is an oil & gas company in Forgan, Oklahoma, in business since 1988. Its estimated annual revenue is about $10.4M, with roughly $2.5M of EBITDA. It has about 22 employees. Its estimated business value is $11.2M (likely range $5.9M–$15.3M).
Common questions
- Who owns Nichols Water Service, Inc.?
- The owner of Nichols Water Service, 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 Nichols Water Service, Inc. make?
- SeeBITDA estimates Nichols Water Service, 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 Nichols Water Service, Inc. worth?
- About $11.2M, roughly 4.4× its estimated EBITDA of $2.5M, typical for a oil & gas company its size. Likely range: $5.9M–$15.3M.
- How many employees does Nichols Water Service, Inc. have?
- About 22, as reported on its PPP loan.
- When was Nichols Water Service, Inc. founded?
- Nichols Water Service, Inc. has been in business since 1988.