Business Valuation & Appraisal
Valuation firms providing business enterprise valuations, fairness opinions, purchase price allocations, and asset appraisals.
- 5
- Verticals
Overview
Business Valuation & Appraisal firms produce independent valuations and opinions of value — enterprise valuations, fairness opinions, purchase-price allocations, 409A and portfolio valuations, and asset appraisals — for M&A, tax, financial reporting, and litigation. The work is recurring where it supports annual financial-reporting and fund-valuation cycles, and project-based around transactions.
Demand is unusually resilient: valuations are needed in rising and falling markets alike, and regulatory and fair-value reporting requirements create a recurring baseline. A few national specialists sit above a fragmented base of regional and boutique appraisal firms.
Market snapshot
No discrete Census NAICS code — valuation work sits inside accounting (541211/541219) and financial-advisory classifications, so it is not separately sized by the Census Bureau.
Business model & economics
Revenue model
Project fees plus recurring financial-reporting and fund-valuation work
Key economics
- Recurring revenue
- Moderate
- EBITDA margin
- 20–35%
- Capex intensity
- Low
409A, portfolio, and fair-value valuations recur annually
Characteristics
- Demand is resilient across market cycles, unlike transaction advisory.
- Financial-reporting and fund-valuation work provides a recurring baseline.
- Credentialed expertise and independence underpin pricing.
M&A deal context
Who’s acquiring
- Valuation & advisory consolidators
- Accounting firms building valuation practices
- PE-backed professional-services roll-ups
What’s driving deals
- Consolidation of valuation specialists onto national platforms.
- Growing 409A, fund-valuation, and fair-value reporting demand.
- Resilient, recession-resistant revenue attractive to financial buyers.
Verticals in this segment
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