What is EBITDA

What multiple of EBITDA do veterinary practices sell for?  In 2026, most independent veterinary practices sell for a multiple of 5x to 8x their normalized EBITDA. However, larger, highly profitable multi-doctor clinics generating over $1.5 million in annual revenue can command premium multiples of 9x to 12x or higher from private equity consolidators. The exact…

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Senior woman veterinarian in scrubs and a soft cardigan at the wooden reception counter of her independent veterinary practice, holding an open leather-bound practice ledger book and contemplating what her practice is actually worth

If you are considering an exit in 2026, understanding your true veterinary practice valuation is the single most critical step before engaging with buyers. While revenue gives you a baseline, institutional acquirers base their offers on normalized EBITDA and competitive market multiples. In this guide, we break down exactly how to calculate your clinic’s worth…

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