Trucking companies in Illinois are valued at 3x to 6x EBITDA for asset-light brokerage and owner-operator models, and 2x to 4x EBITDA for asset-heavy fleets where depreciation and maintenance are significant. The trucking sector has specific valuation nuances driven by DOT authority, insurance history, and customer contract quality.
Asset Value vs. Business Value
Trucking companies are often valued on two components: the going-concern business value (EBITDA multiple) plus the fair market value of rolling stock and equipment. Buyers with access to their own fleet financing may approach value differently than those who need to roll existing equipment debt into the purchase. Clear, separate accounting for equipment versus operating expenses is essential.
Driver Retention and DOT Records
Driver quality, CSA scores, and DOT safety ratings are critically reviewed in due diligence. A clean safety record is a material asset; a history of violations can kill a deal or require significant price concession. Similarly, driver turnover history above industry average (over 90% annually for OTR) raises operational risk questions.
Illinois provides natural logistics advantages — I-80, I-55, and I-90 corridors, proximity to Chicago intermodal hubs. Companies serving stable shippers under long-term contracts are in strong position to command premium multiples.