DexCompare: compare what you actually walk away with, not the headline multiple
Enter two offers as they appear in the LOIs. DexCompare restates each as guaranteed money, contingent money and illiquid money, adds the compensation you'll earn over the years you actually plan to work, and shows which offer is ahead on each basis. The haircuts and horizon are yours to change.
Compare offers with someone working for your side of the table.
DexCompare organizes the economic terms of offers as presented by buyers. It is not legal, tax or investment advice. The default haircuts are DentalDex's starting assumptions, shown so you can disagree with them.
DexCompare
Free · no sign-up · assumptions| Line | Offer A | Offer B | Edge |
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Talk to DentalDexHow does DexCompare restate an offer?
Every offer is split into three buckets: cash at closing plus the expected holdback release, contingent money (the earn-out at the probability you assign to that offer), and illiquid money (rollover equity at your chosen haircut). Then it adds what you will earn as an associate over the years you actually plan to work, because two offers with the same price and different compensation are not the same offer.
The headline row is the number the buyer leads with. The cash-and-holdback row is what does not depend on future performance or a future sale of the DSO. The risk-adjusted row is DexCompare's best estimate of total economic value to you, using assumptions you control. When the three rows disagree about which offer is ahead, that disagreement is the point.
Two things DexCompare deliberately does not do: it does not discount future cash to present value (your CPA should, using your tax picture), and it does not score clinical autonomy, staff terms or branding, because those are not numbers. Read the teardowns to see how those change decisions.
| Assumption | Default | Reasoning |
|---|---|---|
| Earn-out probability, per offer | 50% | A coin flip until you have read the targets and the integration plan. Set it separately for each offer: raise it where you stay and control the levers; lower it where the buyer controls marketing and hiring. |
| Rollover value | 70% of face | Private, leveraged, common equity behind preferred and debt, with no liquidity date. Applied to every offer regardless of entity; rollover in your own practice entity with distributions is usually worth more than holdco equity, so adjust it yourself. Sellers who want the upside can set it above 100%. |
| Holdback release | 90% | Most holdbacks release in full; some see claims. |
| Compensation horizon | Your intended years, not the required years | Comp earned in years you would not have worked is not a benefit; it is a condition. |
| Required years beyond your horizon | Flagged, not priced | Being required to work two extra years has a cost only you can put a number on. |