Roofing contractor acquisitions sit in a 1.8×–3.5× SDE band. Top-of-band placement requires replacement and maintenance revenue dominance — storm-chasing revenue receives a structural discount.
of deals used a storm-event trailing year as the SDE baseline without normalization. Steady-state SDE is typically 40–60% of a storm-year SDE.
Lowest SDE band in the home services segment. Re-roofing and maintenance revenue share above 50% is the primary top-of-band condition.
SBA fall-through cause: DSCR failure after storm-year normalization. Lenders cannot underwrite peak-storm revenue as steady-state.
of deals had unpriced workmanship warranty tail liability. 10-year warranty on a 3-year-old install book is a quantifiable post-close exposure.
Storm normalization is now a categorical SBA requirement, not a negotiable adjustment. A roofing business with $520K SDE in a hail-active trailing year and $210K SDE in a clean trailing year cannot be underwritten on the $520K figure. Lenders are requiring 3-year SDE trends and will discount storm-year outliers to a 5-year weighted average in markets with documented storm event history. If the trailing period is storm-heavy, surface that proactively — lenders will find it in underwriting regardless.
Workmanship warranty tail liability is the most commonly unpriced risk in roofing deals. A contractor who installed $12M of residential roofing over the past 4 years under a 10-year workmanship warranty has a forward contingent liability of $180K–$360K at standard claim rates. This is not theoretical — it is a quantifiable reserve. Require an escrow or price adjustment for warranty tail at close, or document it explicitly as a known assumed liability.
Read the full Q1 2026 Atlas →The roofing research stack.
Atlas for the numbers. Playbook for the framework. Apply it to the deal in front of you.
Q1 2026 Industry Atlas
Trailing-12-month band, structural conditions, sources, and methodology. Quarterly. Dated. Citable. Built to be forwarded by lenders.
Underwriting Playbook
The four-pillar lens applied to roofing contractor acquisitions. Structural failure modes. Pre-LOI verification priorities. Master spoke for the vertical.
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