If you sell something the market sees as interchangeable, your business may be worth less. Acquirers often argue that without a competitive moat, commoditized companies are sitting ducks for a price war. Margins get squeezed. Valuations drop.

After completing the Value Builder Score Report, more than 80,000 owners have received an estimate of their company’s value. That data—one of the largest private databases of its kind—offers a clear view into what drives acquisition offers.