Goldstein Lieberman
Strategic Advisory Excellence Since 1984
Executive Dashboard
Strategic Outlook 2026–2028
$15M
Annual Gross Revenue
31.67%
EBITDA Margin
$38M - $47.5M
Valuation Range
79.17%
Economic Profit%
5
No. of Equity Partners
$200/hr
Avg Client Rate ($/hr)
65
Total Employees
60%
Overhead as % of Revenue
Valuation-Based Strategic Position
Strengths, Weaknesses, Opportunities, Threats
Strengths
  • Tax services represent half of gross revenue, providing a clear and material recurring practice base.
  • The firm generates $15 million of gross revenue, which is a meaningful scale for a five-partner practice.
  • Billable hours total 75,000, indicating substantial annual production capacity across the firm.
  • Audit and consulting each contribute 25% of revenue, showing a diversified mix beyond tax alone.
  • The practice includes defined niches in real estate, professional services, M&D, HNW, and trusts & estates, which supports multiple service lines.
Weaknesses
  • EBOC of 40% indicates a relatively thin earnings margin on $15,000,000 of revenue, which can compress a buyer’s multiple.
  • With 50% of revenue from tax work and only 25% from audit, the service mix is concentrated in a seasonally driven compliance practice that may merit a lower valuation than a more balanced book.
  • The firm’s partner group is relatively small at 5 partners, creating key-person and transition risk because each partner represents $3,000,000 of revenue.
  • Partner ages of 56 suggest succession planning will be important in the near term, which can affect retention and continuity during a transaction.
Opportunities
  • Increase the share of audit and consulting work, which each represent 25% of revenue today, to improve service mix balance and support higher-value advisory growth alongside the 50% tax base.
  • Expand capacity and leverage the 75,000 billable hours across 65 staff to drive more revenue per partner, which is currently 3.0 million, and improve operating scale.
  • Deepen monetization of the firm’s specialized niches in real estate, professional services, M&D, HNW, and trusts and estates to reinforce differentiation and support pricing power.
  • Strengthen succession and continuity planning given the partner group’s average age of 56 and only five partners, which can help protect valuation and reduce key-person risk.
  • Improve margin conversion from the current 40% EBOC level by tightening delivery efficiency and mix toward higher-value services, which would enhance earnings quality.
Threats
  • At 40% EBOC on $15.0 million of gross revenue, profitability appears solid but still leaves limited cushion if margins soften or compensation costs rise.
  • With only 5 partners supporting 65 staff and $3.0 million of revenue per partner, the firm may face key-person and succession risk if partner capacity or retention weakens.
  • The partner group is relatively concentrated at 5 partners, which can make ownership transition and client relationship continuity more sensitive to any partner departure or retirement.
  • Revenue is split evenly across tax, audit, and consulting at 50%, 25%, and 25%, so the firm may be exposed to performance swings in any one service line rather than having a dominant recurring engine.
  • The niche focus across real estate, professional services, M&D, HNW, and trusts and estates suggests a specialized positioning that may be harder to scale broadly than a more diversified practice mix.
Enhance Profitability

May drive premium valuation, strong cash flow, and high investor demand while supporting scalable growth and resilience.

31.67% EBITDA margin
Operational Efficiency

You are doing a great job on leverage, continue to look for opportunities to push work down to the appropriate levels, and remember that leverage is your biggest pathway to high levels of profitability

Leverage ratio 13:1
Revenue Acceleration

Without a defined growth rate, growth may be accelerated by adding advisory services, pursuing tuck-in mergers, or onboarding a lateral partner with an existing book of business.

+15–25% revenue growth
Risk Mitigation

May enhance operational capacity, diversify expertise, and strengthen continuity, but can introduce complexity in decision-making and profit sharing.
May support continuity, smoother succession planning, stronger long-term client retention, and greater capacity to adapt to growth and innovation initiatives.

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This preliminary valuation range is for discussion purposes only, based on unverified information, and is highly sensitive to assumptions. It does not constitute a formal valuation or transaction guidance and should not be relied upon by any party for decision-making purposes.