TradeExit Guide

What is a pharmacy worth?

Pharmacies sold on BizBuySell between 2021 and 2025 went for a median 2.45x seller's discretionary earnings (SDE), with the middle half between 1.69x and 3.75x; at the median that puts a $300,000-SDE pharmacy at about $735,000.

Updated 2026-09-23 · 2 sources · By the TradeExit Guide team

Key figures for this trade are also summarized in the multiples by trade table.

Independent pharmacy value at a glance

Median SDE multiple (sold)
2.45x
BizBuySell 2021-2025
Middle half of sales
1.69x-3.75x
SDE multiple
Median revenue multiple
0.29x
middle half 0.2x-0.45x
Median sale price
$395,000
BizBuySell, sold Q3 2021-Q2 2026

Estimate your pharmacy's value

Applies the cited SDE multiple band for your trade, then positions you inside it using recurring revenue, customer concentration, owner dependence, years operating and trend. Educational estimate, not an appraisal.

Pre-tax profit + one owner's pay and perks + interest + depreciation + one-time costs. Not sure? Use the SDE calculator.

Educational estimate, not an appraisal or an offer. Ranges come from published closed-sale data and broker/adviser reports cited on each trade page; the adjustment weights are our own documented heuristic (see Editorial policy). Real estate, inventory and working capital are excluded.

Get the full valuation brief (printable)

Your inputs and range, the cited multiples behind it, the buyer type active at your size, three changes that move the multiple, and next steps - on this page, ready to print or save as a PDF.

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Valuation brief: -

Prepared with the TradeExit Guide valuation calculator (tradeexitguide.com). Educational estimate, not an appraisal or an offer.

Your inputs

Annual revenue-
SDE / owner cash flow-
Recurring / contract revenue-
Largest customer share-
Owner hours per week in the work-
Years in business-
3-year trend-

Result

Estimated value range-
Implied SDE multiple-
Cited SDE multiple band for this trade- to -
Full cited range in dollars-
Implied multiple of revenue-
Most likely buyer type-
Pricing basis-
Source of the band-

What moves your multiple

  • Recurring revenue (you: -). At 25%+ the calculator moves you up the band; at 50%+ further. Maintenance agreements, contracts and memberships count.
  • Owner dependence (you: -). Under 20 hours a week in the field or chair helps; under 10 helps most. Buyers pay for a business that runs without you.
  • Customer concentration (you: -). Keep any single customer under about 15% of revenue.

Next steps

  1. Recast your earnings line by line with the SDE calculator (tradeexitguide.com/tools/sde-calculator/).
  2. See what you would keep after taxes and fees with the after-tax proceeds calculator (tradeexitguide.com/tools/after-tax-proceeds-calculator/).
  3. Read your trade's valuation page for the sources behind the band and the drivers buyers cite.
  4. If you have an offer, compare it on guaranteed cash, not headline price (tradeexitguide.com/guides/unsolicited-pe-offer/).
  5. Before you sell, get a formal valuation from a credentialed appraiser or an experienced intermediary.

Ranges come from published closed-sale data and broker/adviser reports; adjustment weights are our own documented heuristic. Real estate, inventory, working capital, debt and taxes are excluded.

Published pharmacy multiples by deal size

Every figure is linked to where we read it (accessed 2026-09-23). BizBuySell sold interquartile range 1.69-3.75x SDE for pharmacies (2021-2025). Check whether a quoted price includes inventory; conventions vary.
Deal size / buyerMultipleSource
Main Street sales, 2021-2025 (sold)1.69x-3.75x SDE (median 2.45x); revenue 0.2x-0.45x

BizBuySell Valuation Benchmarks - Pharmacy

All industries, Q2 2026 (context)Under $500K deals: 2.0x SDE; $2M-$5M: 4.0x EBITDA; $5M-$50M: 5.8x EBITDA

IBBA / M&A Source / Pepperdine Market Pulse, Q2 2026 highlights

What moves the multiple for a pharmacy

Key metric buyers ask for: Prescription count and trend, gross margin per script, payer/PBM mix, DIR fee exposure, front-store and specialty revenue, inventory.

Pushes you toward the top of the range

  • Growing script count with healthy gross margin per script
  • Niche revenue (compounding, long-term care, specialty, clinical services)
  • Clean inventory and controlled-substance records

Pushes you toward the bottom

  • PBM reimbursement pressure squeezing margin per script
  • Dependence on one prescriber group or facility
  • Controlled-substance recordkeeping problems found in diligence

How buyers value a pharmacy

Independent pharmacies sell on SDE or EBITDA to other pharmacists, regional chains and national chains (who sometimes buy only the prescription files). Inventory is usually counted separately at closing, so confirm what a quoted price includes.

Rule of thumb on revenue: About 0.2-0.45x revenue (BizBuySell sold middle half 0.20-0.45x). Use it only as a sanity check; buyers pay for cash flow they can finance.

Worked example: Main Street Apothecary (fictional)

Fictional business for illustration. Revenue $3,100,000, SDE $290,000. 190 scripts/day, 8% compounding revenue, $280K inventory at cost counted at close.

Position in the cited rangeImplied valueMultiple of revenue
At the low end (1.7x)$493,0000.16x
Midpoint (2.45x)$710,0000.23x
At the high end (3.75x)$1,088,0000.35x

Who buys a pharmacy at each size

Pharmacists buying their first store; multi-store independents; regional chains; national chains buying files.

SDE / EBITDA sizeMost likely buyerHow they usually pay
Under ~$300K SDEPharmacist buyerSBA or bank loan plus buyer cash; sometimes a seller note
~$300K-$1M SDEMulti-store independentSBA loan, seller note, or cash from a larger buyer
$1M+ EBITDARegional or national chainMostly cash at close; rollover equity and earn-outs are common

Thinking about selling your pharmacy?

See the step-by-step sale process, license transfer rules and documents buyers will ask for.

How to sell a pharmacy

Frequently asked questions

How much is my pharmacy worth?

Pharmacies sold on BizBuySell from 2021-2025 went for a median 2.45x SDE (middle half 1.69-3.75x) and about 0.29x revenue. Script volume, margin per script and PBM exposure drive the multiple.

Does my DEA registration transfer?

Not automatically. 21 CFR 1301.52 bars transferring a DEA registration without DEA’s written consent, and controlled-substance inventory transfers follow DEA procedures. State boards also require a new permit on a change of ownership (Texas, for example, issues a new license number).

Is this an appraisal?

No. It is an educational estimate built from published data. Lenders, courts and the IRS may require a credentialed appraisal; see appraisal vs estimate.

Sources

  1. BizBuySell Valuation Benchmarks - Pharmacy (accessed 2026-09-23)
  2. BizBuySell - Business valuation multiples by industry (sold Q3 2021-Q2 2026) (accessed 2026-09-23)
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