Valuations of minority interests in privately held architecture, engineering, and environmental consulting firms (A/E firms) held steady from 2017 to 2018, according to a new study.

Enterprise values as a multiple of gross revenue, net service revenue, and prebonus earnings before interest and taxes (EBIT) were virtually unchanged (see table below), according to the Architecture and Engineering Business Valuation and M&A Transaction Study, 6th edition. The study, conducted by Rusk O’Brien Gido + Partners, contains the latest transactional data from 167 distinct stock transactions along with supplemental data from publicly available sources. The prior editions of this study are also available for comparison purposes.