Aerospace and defense has the highest median EBITDA multiple of the ten sectors in Bankerly’s data: 10.5× across 18 disclosed deals, with the middle half between 9.3× and 13.0× (trailing EV/EBITDA, as of October 2026). Targets with $5M to $25M of EBITDA sit higher still, at a median of 11.8× on 11 deals. The ranking comes from M&A multiples by industry, and the sector has its own page; both update as deals are added.
| Aerospace & Defense (as of October 2026) | Deals (n) | 25th percentile | Median | 75th percentile |
|---|---|---|---|---|
| EV/EBITDA, all targets | 18 | 9.3× | 10.5× | 13.0× |
| EV/EBITDA, targets with EBITDA of $5M to $25M | 11 | 9.4× | 11.8× | 13.3× |
| EV/revenue, all targets | 16 | 1.0× | 1.8× | 2.9× |
| EBITDA margin, all targets | 15 | 12.0% | 16.2% | 22.0% |
Basis: trailing multiples, disclosed deals with targets at or below $25M of EBITDA, Bankerly’s transaction database, as of October 2026. Each row counts the deals that disclose that figure, so n differs. The margin row divides EBITDA by revenue, using the figures each source stated or a stated price and multiple imply.
Reading the four rows together
Start with the band, the closer comparison for a company with $5M to $25M of EBITDA. Its median of 11.8× is more than a full turn (1.0×) above the sector’s 10.5×, yet its quartiles of 9.4× and 13.3× sit close to the sector’s 9.3× and 13.0×. The sector figure also counts the smaller deals outside the band, so its median sits below the band’s, which fits the size premium that larger companies earn.
The revenue and margin rows check the headline. A median of 1.8× revenue at a median margin of 16.2% works out to about 11× EBITDA (1.8 divided by 0.162), near the 10.5× in the first row; the rows are separate samples, so their medians do not combine exactly. They differ in how widely deals scatter. On revenue the 75th percentile is close to three times the 25th (2.9× against 1.0×); on EBITDA it is 1.4 times (13.0× against 9.3×). In these deals the price per dollar of earnings varied less than the price per dollar of sales.
Where the figure stops
A sample of 18 deals is small, and it changes: one deal added or removed can shift the median, and with it the sector’s place in the ranking. Individual deals ran from 3.5× to 26.7×; the table shows the middle half. Disclosed deals skew larger and better run than a typical owner-operated company, and large public acquirers are the ones obliged to disclose (the methodology page sets out the rules). Read 10.5× as a reference point, not a price.
If your EBITDA is $5M or less, there is no band for your size: a band is published only when at least eight deals stand behind it, and fewer qualify here. One small deal shows how far a company can sit from the median. PMGC Holdings bought A&B Aerospace, a CNC machine shop with about $610,000 of trailing management-adjusted EBITDA, for a $4.5 million base price. That is 7.4× the EBITDA, below the sector’s 25th percentile of 9.3× (the A&B Aerospace deal in detail). The data shows what buyers paid, not why; what they check before paying is in how to sell an aerospace or defense supplier.
These figures are educational reference points, not an appraisal or a prediction of what any buyer will pay. To compare a company of your own size and earnings with deals like these, run the valuation calculator, preset to aerospace and defense: it narrows the sector to deals near the size you enter and returns a range.
Sources
Frequently asked questions
- What is the median EBITDA multiple for aerospace and defense companies?
- In Bankerly's transaction database the median trailing EV/EBITDA is 10.5× across 18 disclosed aerospace and defense deals, with a middle half of 9.3× to 13.0× (targets at or below $25M of EBITDA, as of October 2026). That is the highest median of the ten sectors on Bankerly's M&A multiples by industry page. Disclosed deals skew larger and better run than a typical owner-operated company, so the median is a reference point, not a price for your company.
- What multiple does a small aerospace or defense company sell for?
- Bankerly's transaction database has no published band for aerospace and defense targets with EBITDA up to $5M, because fewer than eight disclosed deals qualify. Targets with $5M to $25M of EBITDA have a median of 11.8× on 11 deals (as of October 2026), while A&B Aerospace, with about $610,000 of management-adjusted EBITDA, sold at 7.4×, below the sector's 25th percentile of 9.3×. One deal does not set a range for another company, so treat these as reference points, not a price.
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