A diagnostic for M&A
When a business changes hands, the financial statements tell one version of the story. A Quality of Earnings (QoE) tells a more accurate version: restating earnings to reflect true normalized performance, surfacing add-backs that won't hold up, and identifying risks that survive the closing date. The result is a credible, defensible picture of what the business earns that both sides can negotiate from. A QoE flags operational risks such as key employees, client concentrations, regulatory exposure, and other similar areas. A Quality of Earnings report is not an audit, a review, or a valuation. It is an analysis of how real, repeatable, and reliable a company's reported earnings actually are.
Built for both sides of the table
Whether you're approaching a sale or evaluating an acquisition, the risk of misjudging earnings runs both ways.
Sell from a position of strength.
When a buyer's financial team enters your books, the questions start coming fast. A proactive QoE puts you back in control and keeps you prepared for scrutiny.
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Surface issues before the buyer does and address them on your terms
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Present a credible, independent picture of earning power
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Reduce retrading risk during due diligence
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Support your valuation with defensible numbers
01
Discovery Call
We learn about the transaction, the business, and what's at stake. We scope the engagement from there and provide you a full custom project plan.
02
Collection & Review
We gather financial statements, tax returns, and operational data for the trailing 2–3 years. Our team begins identifying normalization adjustments and areas requiring deeper analysis.
03
Interviews & Follow Up
We talk directly with the business owner or management team to understand the story behind the numbers. We get to understand both the numbers and the operations that make the business what it is.
04
Report Delivery
You receive a clear, well-supported report showing normalized EBITDA, key adjustments, and findings.
We've been in every seat.
Most practitioners who perform QoE work have spent their careers with large traditional firms. Our team’s experience runs wider. Beyond this traditional firm background, we’ve operated businesses, run finance functions, and sat through due diligence ourselves. This means we understand more than just the numbers.
Operator perspective
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Our team includes experienced business owners who understand how companies actually run, not just how they’re reported.
CFO perspective
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We've sat in the CFO seat. We know which adjustments hold up in due diligence and which ones a team will immediately challenge.
What People Say
"The work was fantastic – speedy and thorough. This was right-sized for the stage and size of customer we typically work with. The process felt very dialed in, nimble, and was able to get a great summary of the detail. I'm thrilled with the result and would love to partner more."