Multiples for larger EBITDA Home Care Business?

What is the current market multiple for a $15M+ EBITDA non-medical home care business that derives revenue from state medicaid? I have a couple of friends who are running a non-medical home care business (NOT a franchise) that is getting majority of its revenue from state Medicaid. They are both sharp and have built the business to around $10M EBITDA. They are looking at a couple of add on acquisitions which will put their business north of $15M EBITDA. They are both excited that this can yield them generational wealth and are looking to exit in 2 years or so. Their expectation is a 10x multiple given the size of the business. I keep telling them that given the state medicaid, the more realistic multiple could be around 6x given the current systemic risks around cuts for state medicaid funding. Yes, I realize that the market may dictate valuation when they exit but I am also curious to gather thoughts from the community for the current market valuation for a business of such a profile. 1. Assume $15M+ EBITDA 2. 90% of revenue from state medicaid 3. Non-medical home care 4. Not a franchise 5. Have a solid CEO and management team. Founders are more hands off. 6. They prefer not to sell to a strategic whenever they want to sell in the future.