What is the veterinary practice valuation multiple in 2026?

Veterinary medicine has seen heavy consolidation, and that buyer competition keeps multiples high relative to most small businesses. In 2026, established multi-doctor practices are generally valued on EBITDA at about 5.0x-9.0x, while smaller single-veterinarian practices are valued on SDE (profit plus the owner's compensation and discretionary expenses) at roughly 3.0x-6.0x.

What moves you within the range: multiple associate veterinarians so the practice does not depend on the seller, recurring wellness-plan and pharmacy revenue, ownership (versus lease) of a desirable real-estate location, modern diagnostic equipment, and consistent year-over-year growth. Practices that hinge on one owner-vet's personal client relationships, or that have deferred facility and equipment investment, sit lower in the range.

Corporate consolidators and PE-backed groups usually pay EBITDA multiples and may keep the selling vet on with an equity rollover or earnout, structuring perhaps 60%-80% as cash at close. An individual veterinarian buyer typically pays an SDE multiple with bank or SBA financing. DealSeam is not a traditional business broker; where there's a fit, it introduces owners to qualified buyers, with the buyer paying the success fee.