Agriculture · NAICS 111000

Farm / Ranch Valuation Multiples (2026)

Farm and ranch sales are land-driven, with operating value layered on top. Owned land + water rights + multi-year crop contracts deliver 0.7× revenue and 6.5× EBITDA on the operating side.

SDE multiple
3×
2.4–4×
EBITDA multiple
5×
4–6.5×
Revenue multiple
0.5×
0.4–0.7×

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Industry: Farm / Ranch · Agriculture

Premium drivers

  • ↑Owned land + water rights
  • ↑Long-term crop / livestock contracts
  • ↑Modern equipment + irrigation
  • ↑Documented yields / soil quality

Discount drivers

  • ↓Leased land
  • ↓Water rights uncertainty
  • ↓Aging equipment
  • ↓Single-crop exposure

Who buys farm / ranch?

Larger ag operation, PE-backed farmland platform, or 1031 / land-only investor

Typical timeline + revenue band

  • Days to close: 120–240
  • Revenue band these multiples apply to: $1.00M–$10.00M
  • NAICS: 111000 (Agriculture)

5 levers that lift your Farm / Ranch multiple by 30-50%

  1. 1
    Lock in recurring revenue
    Convert the top of your farm / ranch revenue stack into multi-year contracts, retainers, or auto-renewing subscriptions. Buyers pay 25-40% more for revenue they don't have to re-win every quarter.
  2. 2
    De-risk customer concentration
    Aim for no single customer above 15% of revenue. If you have a > 25% client, get them on a multi-year master services agreement before going to market.
  3. 3
    Document the business out of the owner
    Larger ag operation, PE-backed farmland platform, or 1031 / land-only investor will discount aggressively for any function that lives in the owner's head — sales, key vendor relationships, pricing, hiring. Run the next 90 days like the owner is on a 6-week vacation.
  4. 4
    Clean up the financials
    Get a Quality of Earnings-ready trailing 12 months: GAAP-aligned, owner add-backs documented, no commingled personal expenses. This alone moves the multiple 0.5-1.0× upward in this category.
  5. 5
    Match the deal to the right buyer pool
    PE-backed roll-ups, strategic acquirers, and ETA buyers compete on different terms. List with someone who has run a process for farm / ranch acquisitions — generic SMB brokers will leave 20%+ on the table.
Run the full Exit Readiness Assessment →
Personalized Farm / Ranch valuation, action plan, and ideal-buyer profile.

FAQ — Farm / Ranch valuations

What's a typical farm / ranch valuation multiple?▾

Typical farm / ranch valuations land near 3× SDE, 5× EBITDA, or 0.5× revenue. Strong operators reach 4× SDE / 6.5× EBITDA / 0.7× revenue, while weaker operators stay closer to 2.4× SDE / 4× EBITDA / 0.4× revenue.

How long does it take to sell a farm / ranch?▾

Most farm / ranch deals close in 120–240 days from listing. Strong operators with clean financials and a documented buyer pool close on the lower end.

Who buys a farm / ranch business?▾

Larger ag operation, PE-backed farmland platform, or 1031 / land-only investor

What pushes a farm / ranch valuation to the high end?▾

Owned land + water rights. Long-term crop / livestock contracts. Modern equipment + irrigation. Documented yields / soil quality.

What forces a discount when selling a farm / ranch?▾

Leased land. Water rights uncertainty. Aging equipment. Single-crop exposure.

Other Agriculture categories

Nursery / Garden Center
2.5× SDE · 4× EBITDA
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