AEC firms—architecture, engineering, and construction—are seeing a clear trend:

ESOP companies are outperforming their peers on valuation.

In this episode, Trevor Gilmore and Ben Spadt break down the 2026 data and explain why ESOP-owned companies are commanding higher valuations—and what that means for owners considering succession.

In this episode:

•  Why ESOP companies see ~25% higher value relative to revenue 
•  How backlog drives forward-looking valuation 
•  The impact of S-Corp ESOP tax advantages on cash flow and value 
•  How EBITDA multiples and cap rates are actually determined 
•  Why ESOP companies often carry a lower risk profile 

This is a practical, data-backed look at valuation—not theory—and why many AEC firms are rethinking how they approach ownership and exit planning.

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Learn more:

• ESOP Radio: https://www.menke.com/esop-radio/
• ESOP Boot Camp: https://www.menke.com/esop-boot-camp/
• Confidential feasibility review: https://www.menke.com