If you need a business valuation, the firm you choose can have a major impact on the outcome.
Whether you are selling your business, planning an exit, handling tax or estate matters, or dealing with a dispute, a valuation is not just a number on a page. It is an opinion that must be accurate, defensible, and trusted by the people who rely on it.
Many business owners assume all valuation firms do the same thing.
In reality, the quality of a valuation can vary widely. Some firms focus on speed and low cost, while others focus on depth, documentation, and credibility.
Choosing the wrong firm can lead to serious problems, including failed deals, IRS challenges, or disputes that drag on longer than expected.
The stakes are high. According to the IRS, business valuations are closely scrutinized in audits related to estate, gift, and transaction taxes. Unsupported or poorly prepared valuations are a common trigger for disputes with tax authorities.
In this article, you’ll learn what business valuation firms do, how they are ranked, and which firms stand out based on experience, services, and strengths.
What Does a Business Valuation Firm Do?
A business valuation firm helps you understand what a business is worth for a specific purpose.
That purpose could be selling your company, planning an exit, handling taxes, resolving a dispute, or meeting financial reporting requirements. The firm’s job is to provide an independent, well-supported opinion of value that others can rely on.
Valuation firms do more than run numbers. They analyze financial statements, adjust earnings, assess risk, study industry data, and apply accepted valuation methods.
The end result is a report that explains how value was determined and why the conclusion makes sense.
Core Business Valuation Services
Business valuation firms provide several types of valuation services depending on the situation.
One common service is fair market value, which estimates the price a willing buyer would pay a willing seller under normal conditions. This is often used when selling a business, gifting ownership, or handling estate matters.
Another service is fair value, which is commonly used for shareholder disputes or financial reporting.
Some firms also provide strategic or investment value, which reflects value to a specific buyer based on synergies or unique advantages.
According to the American Institute of CPAs, professional valuation services must follow recognized standards and clearly define the type of value being concluded.
Common Use Cases for Business Valuation Firms
You may need a valuation firm in many situations.
Selling or buying a business is one of the most common.
Buyers want to confirm value before committing capital, and sellers want support for their asking price.
Valuations are also used for tax, estate, and gift planning. The IRS often requires a defensible valuation when ownership is transferred. Valuation firms are also involved in litigation, such as shareholder disputes, divorces, or partnership dissolutions.
Financial reporting is another major use case.
According to PwC, business valuations are frequently required for purchase price allocations, impairment testing, and compliance with accounting standards.
Who Uses Business Valuation Firms
Business valuation firms work with a wide range of clients.
Business owners use valuations to plan exits, set prices, and make strategic decisions. Investors and private equity firms rely on valuations to assess risk and returns.
Attorneys and courts use valuation reports as evidence in disputes. CPAs and financial advisors use them to support tax filings and planning strategies. Because so many parties rely on valuation reports, accuracy and credibility are essential.
Choosing the right valuation firm ensures the work will stand up to scrutiny and support your goals rather than create new problems.
How We Ranked the Top Business Valuation Firms in the USA
When you search for business valuation firms in the United States, you will find hundreds of options.
Not all of them offer the same level of expertise, credibility, or service. To help you narrow the field, this list of the top business valuation firms is based on clear and practical criteria that matter to business owners and decision makers.
The goal of this ranking is not just to list well-known names.
It is to highlight firms that consistently deliver accurate, defensible valuations that stand up to scrutiny from buyers, lenders, tax authorities, and courts.
Ranking Criteria
Each firm included in this list was evaluated based on several key factors.One of the most important factors is having the right credentials. Firms with certified valuation professionals such as ASA, ABV, CFA, or CVA designations demonstrate a higher level of technical training and adherence to professional standards.
Experience is another major factor. Firms with a strong track record of completed valuations across different industries and use cases tend to deliver more reliable results. Industry specialization also matters.
A firm that understands your type of business is better equipped to assess risk, normalize earnings, and apply appropriate valuation methods.
Reputation and credibility play a role as well.
According to the American Society of Appraisers, valuation reports must be well-documented, transparent, and supportable to be considered credible by third parties.
Why the Right Firm Depends on Your Situation
No single valuation firm is perfect for every situation.
The right choice depends on why you need the valuation, how it will be used, and the size and complexity of your business.
For example, a large public company transaction may require a firm with global reach, while a closely held business sale may benefit from a firm that offers hands-on advisory support.
According to the AICPA, aligning the valuation firm’s expertise with the valuation purpose improves quality and reduces risk.
This ranking reflects firms that perform well across a range of scenarios, with Virtue CPAs standing out for business owners who value clarity, personal attention, and defensible analysis.
Top 10 Business Valuation Firms in the USA
This section highlights ten respected business valuation firms in the United States. While each firm provides valuation services, they differ in approach, focus, and ideal client type.
Understanding these differences helps you choose the firm that best aligns with your goals.
1. Virtue CPAs
Virtue CPAs stands out as the best overall choice if you want a valuation that is both technically sound and practical for real-world decisions.
You work directly with experienced advisors who take the time to understand your business, your goals, and how the valuation will be used.
This hands-on approach is especially valuable when you are preparing to sell, planning an exit, or making strategic decisions.
Unlike firms that only deliver a report, Virtue CPAs focuses on clarity and strategy. You receive a valuation that clearly explains assumptions, adjustments, and conclusions in plain language.
This makes it easier to defend your valuation with buyers, lenders, attorneys, or the IRS.
Services
- Business Valuations
- Asset Valuations
Strengths
- Highly personalized, advisor-led approach
- Strong expertise with closely held and mid-sized businesses
- Clear, defensible, and easy-to-understand reports
- Ideal for owners who want guidance, not just numbers
2. Eton Venture Services
Eton Venture Services provides valuation and transaction advisory services primarily for private companies and investors.
If you are involved in mergers, acquisitions, or capital raises, this firm often works alongside deal teams to support valuation needs.
The firm places a strong emphasis on financial modeling and transaction-focused analysis.
You may find Eton Venture Services to be a good fit if valuation is part of an active deal process rather than long-term owner planning.
Services
- Business valuation
- Transaction advisory support
- Financial and valuation modeling
Strengths
- Strong analytical and modeling capabilities
- Experience with private company transactions
- Deal-oriented valuation approach
3. Kroll
Kroll is one of the largest global valuation and risk advisory firms.
You will often see Kroll involved in complex valuations for large companies, litigation matters, and regulatory or compliance-driven engagements.
Because of its size and global reach, Kroll is frequently chosen for valuations that require extensive documentation and international expertise. It may be less personalized, but it offers scale and depth for complex situations.
Services
- Business and enterprise valuation
- Intangible asset valuation
- Litigation and dispute support
- Financial reporting valuations
Strengths
- Global scale and strong brand recognition
- Extensive litigation and compliance experience
- Suitable for large and complex valuations
4. Teknos Associates
Teknos Associates is a boutique valuation firm focused on closely held and middle-market businesses.
The firm has a long-standing reputation for technical valuation work and traditional valuation engagements.
You may find Teknos to be a good fit if you are looking for a valuation firm that emphasizes methodology and formal valuation processes. The firm is often involved in succession and ownership transition planning.
Services
- Business valuation
- ESOP valuations
- Succession planning support
- Shareholder and partner valuations
Strengths
- Deep technical valuation expertise
- Strong experience with private businesses
- Traditional, standards-driven approach
5. Valuation Research Corporation
Valuation Research Corporation, commonly known as VRC, primarily serves corporate and institutional clients.
The firm is frequently used for accounting, compliance, and reporting-related valuations.
If your valuation is driven by financial reporting requirements rather than a business sale or exit, VRC may be a suitable option. The firm focuses heavily on technical compliance and documentation.
Services
- Business valuation
- Intangible asset valuation
- Purchase price allocation
- Financial reporting support
Strengths
- Strong compliance and reporting focus
- Extensive corporate valuation experience
- Well-suited for accounting-driven valuations
6. Aranca
Aranca is a global research and analytics firm that provides valuation support services.
Rather than acting as a lead valuation advisor, Aranca often supports other firms, investors, or internal teams.
You may consider Aranca if you need cost-efficient research, modeling, or analytical support as part of a larger valuation or transaction process.
Services
- Business valuation support
- Financial modeling
- Research and analytics services
Strengths
- Cost-efficient valuation support
- Strong research capabilities
- Scalable analytical resources
7. Stout
Stout is a global advisory firm offering valuation, transaction, and dispute consulting services.
The firm works with middle-market companies, law firms, and financial sponsors.
Stout is often selected for valuations tied to transactions or disputes where advisory support is also needed. You may find it useful if valuation is part of a broader advisory engagement.
Services
- Business valuation
- Transaction advisory
- Litigation and dispute support
- Financial advisory services
Strengths
- Broad advisory capabilities
- Strong middle-market focus
- Experience with complex valuation scenarios
8. Houlihan Lokey
Houlihan Lokey is a leading investment bank with strong valuation expertise supporting large and sophisticated transactions.
Valuations are often part of mergers, acquisitions, or fairness opinion engagements.
This firm is best suited for large companies and complex deals. It may not be the best fit if you are a small business owner seeking a personalized valuation.
Services
- Business valuation
- Fairness opinions
- Financial and transaction advisory
Strengths
- Strong reputation in high-value transactions
- Expertise in complex deal environments
- Trusted by large corporations and boards
9. Peak Business Valuation
Peak Business Valuation focuses on valuations for small businesses and legal matters.
The firm frequently works with attorneys and business owners involved in disputes or ownership changes.
If your valuation is related to litigation or a small business planning need, this firm may be a practical option.
Services
- Business valuation
- Divorce and litigation valuations
- Small business planning valuations
Strengths
- Accessible for small business owners
- Strong litigation-related experience
- Focused service offerings
10. Sun Business Valuations
Sun Business Valuations specializes in valuations for closely held businesses.
The firm often works on tax, estate, and planning-related valuations.
You may consider this firm if you are looking for an affordable valuation for compliance or planning purposes rather than strategic advisory support.
Services
- Business valuation
- Tax, estate, and gift valuations
- Transaction-related valuations
Strengths
- Focus on closely held businesses
- Cost-conscious valuation services
- Experience with compliance-driven valuations
How Much Do Business Valuation Firms Charge?
One of the most common questions you likely have is how much a business valuation will cost.
The answer depends on several factors, including the size of your business, the purpose of the valuation, and the level of detail required.
Business valuation is not a commodity service. A low-cost valuation may seem attractive, but it can end up costing more if the report is challenged by buyers, lenders, or the IRS.
Pricing should always be considered alongside quality and defensibility.
Typical Pricing Models
Most business valuation firms use one of three pricing models.
- The first is a fixed fee, where you agree on a price upfront based on scope and complexity. This model is common for small and mid-sized business valuations and offers predictability.
- The second model is hourly billing. This is often used for complex valuations, litigation support, or open-ended engagements. While flexible, hourly billing can make the total cost harder to predict.
- The third model is retainer-based pricing, which is more common for ongoing advisory or multi-phase valuation projects.
According to the American Institute of CPAs, fixed-fee engagements are generally preferred for standard valuation assignments because they align expectations for both parties.
Conclusion
Choosing a business valuation firm is not just about finding someone who can calculate numbers.
It is about finding a trusted advisor who understands your business, your goals, and the real-world consequences of valuation decisions.
Many valuation firms focus only on technical compliance. Others focus on speed or scale.
What sets Virtue CPAs apart is the balance between technical accuracy and practical guidance. You are not treated as a file number or handed a report without context. You work directly with experienced professionals who explain what the numbers mean and how they impact your next move.
Virtue CPAs is especially well-suited for business owners who want clarity and confidence. Whether you are preparing to sell your business, planning an exit, dealing with a partner buyout, or handling tax or estate matters, the firm takes the time to understand your situation.
The result is a valuation that is defensible, easy to explain, and aligned with your objectives.
If you want a valuation firm that combines strong credentials with personal attention and real advisory insight, Virtue CPAs is a clear choice.
Ready to get a business valuation you can trust?
Contact Virtue CPAs today to schedule a consultation.
Frequently Asked Questions
Jeet Chaudhary
Jeet Chaudhary serves as the Chief Operating Officer at Virtue CPAs, where he leads the firm’s Global Control Centre and oversees end-to-end operational excellence.
