DexCompare: compare what you actually walk away with, not the headline multiple

DexCompare puts competing DSO offers into one standard format so a seller can see cash at closing, rollover equity, earn-out, holdback, post-sale compensation, required tenure and restrictive covenants side by side. Two offers with the same enterprise value can differ by hundreds of thousands of dollars in real terms.

What it shows for every offer

Line	Why it matters
Enterprise value	The headline number. Rarely what you receive.
Cash at closing	Liquid, certain, yours the day the deal funds.
Rollover equity	Illiquid, subject to the DSO's performance and capital structure. Valued separately.
Earn-out	Contingent on targets you may not fully control after closing.
Holdback	Escrowed against representations, typically 12–24 months.
Doctor compensation	A 3-point difference on $1M of collections is $30,000 a year.
Required tenure	Two years and five years are very different lives.
Restrictive covenants	Non-compete radius and duration after you leave.
Clinical autonomy and staff terms	Monday-morning reality after closing.

Worked example

Offer A: $4.8M enterprise value, $3.8M cash, $750K rollover, $250K earn-out, five-year employment at 30% of collections. Offer B: $4.5M enterprise value, $4.25M cash, $250K rollover, no earn-out, three-year employment at 32% of collections. On the headline, A is $300K better. On cash at closing, B is $450K better, carries $500K less contingent or illiquid value, requires two fewer years, and pays about $20K more a year on $1M of collections. Which is better depends on the seller, but only one of them is obvious without laying it out.

Availability

DexCompare is being built for sellers listing through DentalDex. Every offer received on a DentalDex listing is presented in this format. If you already have offers in hand and want them laid out this way, tell us when you submit your practice.

DexCompare organizes the economic terms of offers as presented by buyers. It is not legal, tax or investment advice. Involve your own advisers before signing any LOI.