In 2025, a founder-owned, Rodeo Belt Based, Horizontal Directional Drilling company engaged CFOx for a Sell-Side Quality of Earnings (QoE).

The Transaction Services team at CFOx first evaluated the company’s operations, accounting systems, and policies. The team then identified and quantified adjustments to EBITDA. CFOx also identified key accounts that to be included in Net Working Capital and Net Debt analyses.

The final report was a Quality of Earnings analysis that provided EBITDA adjustment suggestions and other analyses, including Payroll Reconciliations, Tax Reconciliations, and Customer and Vendor Concentration Analyses.

The Sell-Side QoE analysis ensured that reported earnings truly reflected the company’s operational performance, giving the seller leverage and maximizing their value.

If you would like to learn more about our Transaction Services, please reach out via email (info@cfoxadvisory.com) or schedule a call directly on our Contact Us page.

Transaction Services Provided

• Quality of Earnings (QoE) Analysis