Determine annual revenue
Determine annual profit or EBITDA
Choose a valuation method
Apply a revenue multiple
Apply an EBITDA multiple
Apply a profit multiple
Estimate discounted cash flow
Assess asset value
Assess liabilities and debt
Adjust for growth rate
Adjust for market conditions
Adjust for industry risk
Adjust for customer concentration
Adjust for owner dependence
Adjust for recurring revenue
Compare with similar businesses
Calculate final business value
Divide by total shares if needed
Subtract outstanding obligations
Add excess cash if applicable
Verify with multiple methods