Trucking Valuation Template

Work through the EBITDA & SDE Multiple Approach and Value Drivers Scorecard next. For owner-operators who drive themselves, the replacement wage for a commercial driver-manager who books loads and handles dispatch is typically $55,000–$75,000 annually — the add-back above that market rate is critical for getting to an accurate SDE figure. The Value Drivers Scorecard is where trucking businesses gain or lose the most valuation relative to peers: a carrier with 70% contract freight and a stable driver team who can run without owner involvement commands a very different multiple than the same revenue in spot-market loads where the owner personally books every shipment. Run through the scorecard honestly — it will show you exactly which factors are compressing your multiple and what changes would move your number before a sale.

Small trucking companies — typically defined as 1 to 15 power units — typically sell at 2.0–4.0x SDE for owner-operated setups or 2.5–5.0x EBITDA for fleets with management in place, with equipment included. Getting above 3.5x EBITDA requires a combination that's uncommon in small carrier transactions: a majority of revenue from contract lanes with favorable rates, an operating ratio consistently below 88%, a driver team with tenure and low turnover, and an MC authority with a clean safety record and no recent violations. Gross margins in trucking typically run 12–20% at the linehaul level after fuel and driver costs, and net margins range from 2.5–8% for well-run operations. Equipment age has an outsized effect on valuation — a fleet of 2020–2023 sleepers with low mileage adds real asset value; a fleet of 2015 trucks with 700,000+ miles and deferred preventive maintenance becomes a buyer liability.