Industry up 13 percent in November 2022, per Blair/PCO M&A Specialists index


January 6, 2023

Logo: PCO Bookkeepers & M&A Specialists

The William Blair/PCO M&A Specialists Pest Index is a proprietary index of the monthly sales for 140 different U.S. pest control companies across 30 states. For November 2022, the total U.S. pest index increased 13 percent year-over-year, accelerating from 10 percent in October. On a sequential basis, the index decreased 6 percent from October 2022.

The index includes recurring and nonrecurring revenue for residential pest, commercial pest and termite. It does not include residential door-to-door companies.

“This was a surprising result given increasing macroeconomic uncertainty and the deceleration we have observed in the index over the last several months,” says William Blair Equity Researcher Tim Mulrooney.

Dan Gordon, CPA, managing member of PCO Bookkeepers & M&A Specialists, said, “While it looks to be a surprise to the upside, I believe most of the growth has come from price increases because of the spike in inflation. Going forward it will be interesting to see if this momentum continues into the new year.”

Year to date, the total pest index has increased 15 percent year-over-year. Over the last 12 months, the total pest index has increased 15 percent year-over-year.

The November result was primarily due to an acceleration in the residential pest and commercial pest indices:

  • The Residential Pest Index increased 16 percent year-over-year and decreased 9 percent on a sequential basis.
  • The Commercial Pest Index increased 17 percent year-over-year and decreased 4 percent on a sequential basis.
  • The Termite Index was flat year-over-year and decreased 5 percent on a sequential basis.
  • The Bed Bug Index decreased 2 percent year-over-year and decreased 1 percent on a sequential basis.

View the full report and the archive of past reports at


About the Author

Ellen Wagner is a former digital editor for PMP magazine.

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