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Buying a business: Montana vs Texas

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

Montana

105 active listings
Active listings105
Median asking$642,000
Median cash flow$206,072 Edge
Typical multiple3.1×
Owner-earnings yield~32%
Median revenue$815,089
VS

Texas

3,900 active listings
Active listings3,900 Edge
Median asking$340,000 Edge
Median cash flow$160,000
Typical multiple2.1×
Owner-earnings yield~47%
Median revenue$690,019

Who wins?

Texas has 3614% more businesses on the market than Montana (3,900 vs 105). Texas is cheaper at the median asking price. Texas trades at a lower multiple (2.1× vs 3.1×), meaning you pay less per dollar of cash flow there.

MetricMontanaTexas
Active listings1053,900
Median asking$642,000$340,000
Median cash flow$206,072$160,000
Typical multiple3.1×2.1×
Owner-earnings yield~32%~47%
Median revenue$815,089$690,019
Related comparisons

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