Veterinary practice value at a glance
Estimate your veterinary practice's value
Applies the cited SDE multiple band for your trade, then positions you inside it using recurring revenue, customer concentration, owner dependence, years operating and trend. Educational estimate, not an appraisal.
Educational estimate, not an appraisal or an offer. Ranges come from published closed-sale data and broker/adviser reports cited on each trade page; the adjustment weights are our own documented heuristic (see Editorial policy). Real estate, inventory and working capital are excluded.
Get the full valuation brief (printable)
Your inputs and range, the cited multiples behind it, the buyer type active at your size, three changes that move the multiple, and next steps - on this page, ready to print or save as a PDF.
Published veterinary practice multiples by deal size
| Deal size / buyer | Multiple | Source |
|---|---|---|
| 2-3 doctor practice, individual or small-platform buyer | 5-7x EBITDA | Sofer Advisors - Veterinary practice valuation methods and multiples (2026-04) |
| Independent veterinarian buyer vs corporate buyer | 3-5x vs 6-8x EBITDA | DVM Elite - The role of EBITDA in selling your veterinary practice |
| Corporate consolidator deals | 8-13x EBITDA typical (18x at the 2022 peak) | Today’s Veterinary Business - Veterinary consolidation (2023-11) |
| All industries, Q2 2026 (context) | Under $500K deals: 2.0x SDE; $2M-$5M: 4.0x EBITDA; $5M-$50M: 5.8x EBITDA | IBBA / M&A Source / Pepperdine Market Pulse, Q2 2026 highlights |
What moves the multiple for a veterinary practice
Key metric buyers ask for: Revenue per full-time DVM, number of producing doctors, active clients, specialty/emergency mix.
Pushes you toward the top of the range
- Production spread across three or more veterinarians
- Stable client retention and a facility that does not need immediate capital
- Clean books and consistent profit over several years
- Associates likely to stay after the sale
Pushes you toward the bottom
- The selling owner producing most of the revenue (commonly flagged above ~60%)
- Inconsistent earnings or messy records
- Consolidator demand that has cooled since the 2021-2022 peak
How buyers value a veterinary practice
Small practices sold to another veterinarian are valued on SDE and what an SBA or practice lender will finance. Consolidators value on adjusted EBITDA after a market-rate DVM salary for the seller, and usually pay part of the price as rollover equity plus a retention or employment agreement.
Rule of thumb on revenue: 0.7-1.5x gross revenue as a rough cross-check only (Sofer Advisors). Use it only as a sanity check; buyers pay for cash flow they can finance.
Worked example: Riverbend Animal Clinic (fictional)
Fictional business for illustration. Revenue $1,900,000, SDE $460,000. Three DVMs, owner produces 45% of revenue, owns the building separately.
| Position in the cited range | Implied value | Multiple of revenue |
|---|---|---|
| At the low end (2x) | $920,000 | 0.48x |
| Midpoint (2.75x) | $1,265,000 | 0.67x |
| At the high end (3.5x) | $1,610,000 | 0.85x |
Who buys a veterinary practice at each size
Associate or outside veterinarians (SBA / practice loans); corporate consolidators (Mars-owned groups, PE-backed platforms); veterinarian-led partnership models. See who is buying veterinary practices for named acquirers and their sponsors.
| SDE / EBITDA size | Most likely buyer | How they usually pay |
|---|---|---|
| Under ~$300K SDE | Individual veterinarian (practice loan or SBA) | SBA or bank loan plus buyer cash; sometimes a seller note |
| ~$300K-$1M SDE | Veterinarian buyer or consolidator | SBA loan, seller note, or cash from a larger buyer |
| $1M+ EBITDA | Consolidator / PE-backed platform | Mostly cash at close; rollover equity and earn-outs are common |
Thinking about selling your veterinary practice?
See the step-by-step sale process, license transfer rules and documents buyers will ask for.
Frequently asked questions
How much is a vet practice worth?
Solo practices typically trade around 2.0-3.5x SDE (Sofer Advisors). Multi-doctor practices are priced on EBITDA: 5-7x for 2-3 doctor practices with individual buyers, and 8x or more from corporate consolidators, per Sofer and Today’s Veterinary Business.
Why do consolidators pay more?
They price on EBITDA, spread overhead across hundreds of hospitals, and pay part of the price in equity. Compare the cash at close and the employment terms, not just the multiple.
Does a California premises permit transfer?
No. In California the premises registration is not transferable, and a change of ownership must be reported to the Veterinary Medical Board within 30 days. Confirm the current process with the Board before closing.
Is this an appraisal?
No. It is an educational estimate built from published data. Lenders, courts and the IRS may require a credentialed appraisal; see appraisal vs estimate.
Sources
- BizBuySell - Business valuation multiples by industry (sold Q3 2021-Q2 2026) (accessed 2026-09-23)
- Sofer Advisors - Veterinary practice valuation methods and multiples (2026-04) (accessed 2026-09-23)
- DVM Elite - The role of EBITDA in selling your veterinary practice (accessed 2026-09-23)
- Today's Veterinary Business - Veterinary consolidation (2023-11) (accessed 2026-09-23)