Normalized EBITDA
We identify and quantify add-backs, one-time items, and non-recurring costs to establish a defensible, normalized earnings base.
Quality of Earnings (QofE)
Reported earnings and real, sustainable earnings are rarely the same number. A Quality of Earnings analysis cuts through one-time items, owner add-backs, and accounting noise to show what a business actually earns — the figure every purchase price is built on.
Revenue Quality
Customer and payor concentration, recurring vs. one-time revenue, and the durability of the top line under new ownership.
Working Capital
A normalized working-capital target and analysis of seasonality and trends — so the peg in the deal is set correctly.
Earnings Trends & Drivers
What is actually driving growth or decline — separating durable performance from timing and accounting effects.
Buy-side QofE
Before you commit capital, we validate the seller’s earnings, expose risk, and give you the numbers to negotiate price and structure with confidence. Our team has built the internal models and dissected the billing datasets that committees rely on to approve transactions.
Sell-side QofE
A sell-side QofE lets you control the narrative. We normalize and document your earnings before buyers dig in — reducing surprises, defending your multiple, and keeping the process on track.
How it fits the deal
QofE pairs naturally with our valuation and due diligence work. We can deliver it as a standalone analysis or as part of a full diligence engagement, coordinating with your tax and legal advisors throughout.
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