Most commenters said "zero" and they're all incorrect.
Heck, you could simply fire all the employees and net 7-figures for the next year or two if you bought it and did absolutely nothing.
The correct answer is "whatever someone will pay for it", and that's pretty hard to predict without a LOT of additional context behind why the decline in revenue and earnings are happening and how it can be reversed.
Multiple, knowledgeable Buyers in this space have already reached out with interest to buy- yet I'm not sure I even want to take it on yet as we typically try to only represent stronger, profitable deals on a multiple of earnings valuation basis.
The point is, the M&A industry will continuously surprise you. There's value beyond the EBITDA and trend. People absolutely buy based on revenue, customer lists, team, IP, etc.
All kinds of value besides EBITDA. Stuff you'd never buy as a financial buyer seeking pure cash on cash ROI still get bought all the time!
What's this company worth? Staffing Agency in the high tech, engineering, and aerospace worlds:
2023: $10.7M Rev, $1M EBITDA
2024: $11.4M Rev, $695K EBITDA
2025: $9.4M Rev, $339K EBITDA
Trailing 12 Months: $7.5M Rev, $4K EBITDA