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Buying a business: Montana vs Wyoming

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

Wyoming

116 active listings
Active listings116 Edge
Median asking$632,500 Edge
Median cash flow$182,200
Typical multiple3.5×
Owner-earnings yield~29%
Median revenue$973,668

Who wins?

Wyoming has 10% more businesses on the market than Montana (116 vs 105). Wyoming is cheaper at the median asking price. Montana trades at a lower multiple (3.1× vs 3.5×), meaning you pay less per dollar of cash flow there.

MetricMontanaWyoming
Active listings105116
Median asking$642,000$632,500
Median cash flow$206,072$182,200
Typical multiple3.1×3.5×
Owner-earnings yield~32%~29%
Median revenue$815,089$973,668
Related comparisons

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