Hi, I’m Chris Walton, author of this guide and CEO of Eton Venture Services.
I’ve spent much of my career working as a corporate transactional lawyer at Gunderson Dettmer, becoming an expert in tax law & venture financing. Since starting Eton, my team and I have completed thousands of valuations for M&A teams, startups, and individuals.
Read my full bio here.
As a co-founder of a business valuation company and 15 years of experience in the industry, I understand how important it is to find someone you trust to determine the value of your business.
I also know who out there is trustworthy, offers high-quality services, and doesn’t take months to do the work.
And while I’ll always put my own firm, Eton, at the top of the list, I’m not afraid to share who else in the industry is worth your consideration.
At the end of the day, I want you to get the valuation experience you deserve.
To help, I’ve put together this list of the 7 top business valuation companies I’d recommend for small, medium and larger-sized businesses.
Skip ahead:
Here are the four factors I’d consider when hiring a business valuation company:
Let’s look at each one in turn:
First things first, make sure the valuation consultant you choose specializes in the exact business valuation type you need.
Some valuators are comfortable doing 409A’s but lack the experience required for M&A valuations—many do both, like us at Eton.
A reputable valuation firm will have a proven history of delivering business valuations that stand up to scrutiny from financial institutions, regulatory bodies, and in legal scenarios.
Look for firms with positive testimonials from past clients and a record of successful engagements.
A business valuation firm should be able to accommodate your timeline, even if that means they need to charge extra to allocate the resources to get it done.
But as standard, even a complex business valuation shouldn’t take more than two weeks.
Costs vary drastically among business valuation consultants.
They also can vary based on the complexity of the valuation and circumstances surrounding the valuation.
For example, a 409A will likely be cheaper than a valuation needed for a merger.
Look for a firm that is within your budget but where you don’t need to compromise on quality or service.
The best business valuation companies to have on your team this year are the following:
Consultant | Description |
---|---|
Eton Venture Services | A leading boutique valuation provider that specializes in serving SMEs, high net worth individuals, PE firms, family offices, and fast-growing startups. Known for delivering personalized, audit-ready valuations with a focus on accuracy and responsiveness. |
Kroll (formerly Duff & Phelps) | A large and well-established valuation firm with decades of experience. Kroll is known for handling complex and large-scale valuations across various sectors, offering extensive valuation and advisory services. |
Research Valuation Consultants (VRC) | A global valuation giant with roots going back to 1975, VRC is recognized for its comprehensive valuation services and deep industry expertise, providing reliable valuations for a broad range of clients. |
Teknos Associates | A specialized valuation firm focused on the technology sector, Teknos offers expert valuation services tailored to tech startups, high-growth companies, and investors in the tech space. |
Aranca | A research analytics and valuation advisory firm that offers a wide range of services. Aranca is noted for its analytical approach, delivering market-based and data-driven valuations to global clients. |
Stout | A global valuation firm with the widest range of valuation services. Stout’s expertise spans numerous industries, providing solutions that cover financial advisory, valuations, and transaction opinions. |
Houlihan Lokey | A renowned financial advisory firm specializing in mergers and acquisitions, restructuring, and valuations. Houlihan Lokey is widely respected for its comprehensive financial services and in-depth market knowledge. |
Below, I’ll go into why these business valuation companies made the cut as the most trustworthy, high quality firms around.
Eton Venture Services has been the gold standard in valuations and transaction advisory since 2010.
From 409A valuations to transaction opinions, our audit-ready services help you manage compliance, build value, and make confident decisions.
Everything we do is bespoke to our clients’ needs. This makes us the ideal choice for those who want fast, reliable valuations with smooth, dedicated customer service.
Our team of valuation specialists is equipped to handle extremely complex cases, as well as rapid turnaround needs.
Our Business Valuation Services
We deliver fast, accurate business valuation services across a variety of areas, including:
Get in touch here to discuss your valuation needs.
I’ll make sure we’re the right firm for the job or point you in the direction of someone better suited.
Our business valuation process is fast, efficient, and comprehensive. A typical valuation takes 10 days from the receipt of company documents but can be done in as fast as one day if needed.
Here’s an overview of what that process looks like and your involvement:
Day 1: Information Collection
Once we have all of your documents, we review them to make sure we understand your business inside out.
We’ll request further information if we find anything is missing that we may need to come to an accurate valuation.
Day 2: Valuation Modelling & Analysis
Next, we analyze your cap table, business stage, and more. We’ll start crafting your valuation and determine what methodologies are required to accurately value your business.
Where possible, our CFAs apply multiple methodologies to reach the most accurate result.
Day 3-7: Valuation Prepared
At this stage we’ll apply those methodologies.
Day 8: Draft Report Delivered; Client Review & Return
After we’ve given the valuation an internal review, we’ll send the report to you for review.
At this stage, you’ll need to let us know if you need any changes. We’ll also get on a call where we can answer your questions and address your concerns.
Day 10: Final Valuation Confirmed & Delivered
Finally, we’ll revise the draft and get you to sign-off on the outcome.
Beyond these 10 days, you’ll get ongoing audit support. We’ll happily explain the valuation and answer any questions to anyone you need us to.
→ You can read more testimonials from our clients here. ←
Business valuation costs at Eton start at $2000 for 409A valuations and reach upwards of $100,000 for complex M&A valuations depending on deal size.
To find out what your business valuation would cost with Eton, please get in touch with us below.
Kroll is recognized for its extensive global reach and comprehensive risk and financial advisory solutions, making it a powerhouse in the industry.
Given Kroll’s size and global footprint, you can expect a wealth of industry experience and a wide range of expert services.
However, those seeking more personalized, high-touch service may find Kroll’s corporate approach less appealing compared to smaller firms focused on individualized client experiences.
Teknos Associates offers deep industry knowledge in technology, life sciences, blockchain, and other growth sectors. Their services span corporate advisory, tax compliance, financial reporting valuation services, and litigation support.
This is a great option for businesses in the industries specified but they’re not the only option. Make sure they meet other criteria such as cost, turnaround time, and great customer service.
If Eton doesn’t feel like a fit, the first recommendation I’d make is for valuationresearch.com, or VRC.
VRC is an independent global valuation firm that has been focusing on valuations and advisory services since 1975.
They operate across multiple locations, including major cities in the U.S.
Their in-house valuation services cover businesses, equity and debt securities, loans, derivative instruments, structured products, intangible assets, fixed assets, and real estate.
My one word of caution is that due to their size and scope, you may not get much attention or the hyper-specialization your valuation requires.
📚 You might also like: 7 Top Healthcare Valuation Firms in 2024
Aranca is a global research, analytics, and advisory firm, who extends its expertise to include business valuation services.
Their specialization in serving global clients positions them uniquely for businesses outside of the US, offering advantages such as diverse market insights and global expertise.
US-based businesses might encounter challenges related to time differences and the need for rapid, personalized communication that is critical in business valuations.
Stout is a global advisory firm that specializes in investment banking, accounting, transaction advisory, valuation advisory, and disputes, claims, and investigations.
They cater to both public corporations and privately held companies across various industries.
If you need a more complex and specialized valuation, Stout is a good choice.
It offers the most comprehensive range of valuation services in the industry. This includes:
As a global enterprise, you can be sure they have the resources and expertise. What you might find lacking is their attention to the client and fast standard processes.
Renowned for its expertise in financial advisory services, Houlihan Lokey offers exceptional valuation services across a broad spectrum of industries.
They have over 400 valuation professionals globally and focus on delivering valuations for private and public companies, portfolio companies, intangible assets, and complex financial instruments.
Due to their size and industry experience, their business valuation services may cost more than at a boutique firm like Eton.
Experience | Time to Completion | Cost | ||
---|---|---|---|---|
1 | Eton | Big 4 trained financial analysts with experience across all business valuation types | Standard business valuations in 10 days or less | Affordable (starting at $5000) |
2 | VRC | Over 300 U.S.-based professionals and an international network of nearly 1,500 valuation experts | Moderate timeline | Unknown |
3 | Teknos Associate | Experience valuing businesses in information technology, life sciences, alternative energy/cleantech, and blockchain technology/cryptocurrency | Moderate timeline | Unknown |
4 | Kroll | Has strong experience in retail and real-estate industry valuations | Slow | Unknown |
5 | Aranca | Experience valuing companies from around the world | Slow | Unknown |
6 | Stout | Experienced in a wide range of complex and specialized valuation services | Slow | Unknown |
7 | Houlihan Lokey | Offers valuation services across many industries, with a team of over 400 professionals worldwide | Slow | Unknown |
Want a business valuation company with expertise you can trust at affordable prices and with first-class customer service? Get in touch with us here.
Have questions about valuation companies? I answer them below:
A company valuation is a critical process that determines the monetary value of a business at a specific point in time.
It provides essential insights for investors, buyers, and sellers, guiding their decisions in various business transactions such as mergers, acquisitions, and investments.
Here are some use cases of a company valuation:
Investment Decision:
Investors use company valuations to decide whether to invest their money in a particular business.
A higher valuation might indicate a promising investment opportunity, while a lower valuation might signal potential risks.
Mergers and Acquisitions:
Valuations play a key role in negotiations during mergers and acquisitions.
Companies use valuation insights to determine a fair price for acquiring or merging with another business.
Selling a Business:
For business owners looking to sell their company, a valuation helps establish an appropriate asking price.
A comprehensive valuation analysis can attract potential buyers and facilitate a smoother sales process.
Strategic Planning:
Companies utilize valuation data to make strategic decisions about growth opportunities, resource allocation, and competitive positioning.
Valuations inform long-term planning initiatives and help businesses chart a course for future success.
A standard business valuation, especially those for small businesses with limited complexity, will cost between $5000 and $10,000.
But in some complex cases, they can cost up to $100,000.
The exact price depends on what valuation method is required, the complexity and size of your business, and the purpose behind the valuation.
No matter your size, there are some instances where your business valuation is more likely to exceed $10,000:
If you’d like a complete breakdown of the cost, please read this article: Business Valuation Services Cost: How Much Is Normal in 2024
The party responsible for paying for a business valuation often depends on the context in which the valuation is being conducted:
Schedule a free consultation meeting to discuss your valuation needs.
Chris co-founded Eton Venture Services in 2010 to provide mission-critical valuations to venture-based companies. He works closely with each client’s leadership team, board of directors, internal / external counsel, and independent auditor to develop detailed financial models and create accurate, audit-proof valuations.