THE SHORT ANSWER
Reconcile supported annual earnings, necessary owner replacement and included fleet before selecting relevant sold comparisons. BizBuySell’s national 2021–2025 trucking sold table reports a 2.96x median owner-discretionary earnings multiple. That historical measure is not EBITDA, a current appraisal or a rule to add every truck’s replacement value to an earnings-based price.
Use the primary historical sold earnings table
BizBuySell’s trucking category spans general, specialized and line-haul operations with related brokerage activity.
(BizBuySell: trucking sold-business benchmarks)| 2021–2025 reported sold owner-earnings statistic | Multiple |
|---|---|
| Lower quartile | 2.29x |
| Median | 2.96x |
| Mean | 3.00x |
| Upper quartile | 3.56x |
Compare actual cargo, carrier/broker role, territory, owner duties, period, fleet and delivery terms with relevant transactions. No fixed fleet-age, customer-count, driver-retention or safety-score threshold automatically selects a quartile.
Reconcile lane results and necessary recurring work
Review completed loads, billed and collected rates, fuel surcharges, empty miles, waiting, credits, fuel, labor, maintenance and insurance. Reconcile actual load/lane reporting with annual statements and allocate shared dispatch and administrative costs consistently. Do not annualize only selected profitable lanes.
SEC adjusted-measure guidance is an issuer-reporting presentation reference.
(SEC: non-GAAP financial measure interpretations)Have the accountant define the starting period/measure, actual deducted expenses and future purpose. Draws, debt principal, fleet purchases and all repairs are not automatic add-backs. Include necessary dispatch, driving, sales and safety administration consistently using the earnings-basis guide. Proposed route savings and new accounts remain forecasts until supported.
Keep operating earnings and collection timing distinct
Annual earnings do not show when payroll, fuel and repairs must be funded. Review actual receivable/factoring arrangements, collection delays and obligations alongside financing and necessary investment.
| Invented operating-cash timing | Amount |
|---|---|
| Starting cash | $15,000 |
| Period A collections | $8,000 |
| Period A specified payments | −$17,000 |
| Period A ending cash | $6,000 |
| Period B collections | $7,000 |
| Period B specified payments | −$16,000 |
| Period B ending cash | −$3,000 |
Resolve actual funding sources, payment obligations and downside cases with the buyer and lender. Do not treat unpaid invoices as immediately available cash or deduct the same operating item twice.
Define fleet, customer and closing conditions
SBA sale guidance addresses agreement assets and liabilities.
(SBA: closing or selling a business)Verify title, liens, leases, condition and necessary investment; define what the price already includes before adding fleet value again. Separate operating enterprise value, debt/payoff and agreed cash delivery. Use the delivery guide for receivables, payables, advances, open loads and claims.
Read customer/provider conditions using the consent register. Have appropriate authorities/advisors review actual driver, insurance and operating conditions. Use the trucking seller guide for evidence. The scenario tool computes stated inputs and does not verify company value or certify an appraisal.
Owner questions
Does the sourced median represent EBITDA?
It describes reported sold owner-discretionary earnings in the stated historical trucking sample.
Should all trucks be added to earnings-based value?
Define included fleet and price terms first to avoid counting the same assets twice.
Can profitable accounts still need operating cash?
Collections and payments occur at different times; model actual wages, fuel, repairs and funding.
Sources and review scope
Source review completed . The sources below support the identified concepts or rules; they do not validate hypothetical amounts or a valuation of your business.
- BizBuySell: trucking sold-business benchmarks
Reported national 2021–2025 sold trucking category includes general, specialized, line-haul and related brokerage activity. Primary sold owner-discretionary earnings table reproduced; conflicting prose interval, asking/revenue and other financial/sector summaries not republished. Not EBITDA, every logistics model, current appraisal or automatic fleet premium.
- SEC: non-GAAP financial measure interpretations
Staff interpretations last updated December 2022: recurring operating costs and distinguishing EBITDA from adjusted measures. SEC reporting context, not a universal private-sale rule or automatic acceptance of add-backs.
- SBA: closing or selling a business
Valuation approaches, sale agreements, assets and ownership transfer.
Confirm tax, legal, accounting and lending applications with the relevant professionals. Historical market observations describe the stated period and reported sample.
This is educational material. Industry figures and program rules can change; check the original sources and your advisors before applying them to a transaction. Calculator scenarios are not appraisals, lending decisions, or offers.
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