NASDAL Goodwill Survey – what happens next?
This week saw NASDAL (National Association of Specialist Dental Accountants and Lawyers) release their Goodwill Survey statistics – these statistics are normally produced on a quarterly basis and provide a useful snapshot of the dental practice sales market.
However, these are not normal times. Due to the COVID-19 pandemic, this week saw the delayed release of the figures for the quarter ending January 31, 2020.
The survey for the quarter saw a small increase – again – in the goodwill as a percentage of fee income in deals done. This is the sixth quarter in a row that deals have risen – from a low of 122 per cent of gross fees in quarter ending October 2018, to 159 per cent of gross fees in this latest quarter.
Again, NHS practice values fell back a little – from 166 per cent of gross fees in the previous quarter to 155 per cent.
The quarter did see a big rise in valuations though – up from an average goodwill value of 132 per cent of gross fees in the quarter ending October 31, 2019 to 157 per cent of gross fees this time. Valuations of NHS, private and mixed practices were all up in the quarter with particularly big rises in the valuations of mixed and private practices.
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