We’ve updated our wiki pages for each firms revenue for the fiscal year 2015.
You can also check out the 2016 revenue numbers for the big 4 public accounting firms on the following pages
The big 4 accounting firms don’t release their revenue until the summer because they all have fiscal years that differ from December 31. The primary reason they have fiscal years in the summer is because they are busy auditing other companies during the December 31 fiscal year end time-frame.
The revenues for the big 4 accounting firms were as follows:
- PwC 2015 revenue – $35.4 billion
- Deloitte 2015 revenue – $35.2 billion
- EY 2015 revenue – $28.7 billion
- KPMG 2015 revenue – $24.4 billion
The revenue growth by firm was as follows:
- EY 2015 revenue growth – 11.6 %
- PwC 2015 revenue growth – 10%
- KPMG 2015 revenue growth – 8.1%
- Deloitte 2015 revenue growth – 7.6%
Ernst and Young’s revenue grew the most, but they are still well behind PwC and Deloitte in revenues. PwC grew the most between the top two firms which pushed them into first place as far as total revenue.
Growth of staff by firm was as follows
- Deloitte’s headcount grew by 15%
- EY’s head count increased by 12.3%
- KPMG head count increased by 7.4%
- PwC grew global head count by 6%
PwC obviously enjoyed the most revenue growth per employee because they did not increase headcount as much as the other firms did yet experienced great revenue growth. Deloitte added a significant amount of people without seeing a large impact in the topline. Deloitte obviously needs to have a firm townhall about charging codes. If people do not charge codes, then the firms do not make revenue.
PwC 2015 revenues
PwC leads the pack this year with $35.4 billion in revenue. The mix of revenue was:
- $15.2 billion from assurance services
- $11.2 billion from advisory services
- $8.9 billion from tax services
From this pie chart you can see that advisory is a large piece of the revenue puzzle now for PwC. Revenues increased overall by 10%. The growth in assurance was largely attributed to mandatory audit firm rotations in europe while the growth in advisory services was largely due to M&A deals and cyber security. The increase in tax revenues was attributable to M&A activity and transfer pricing demand. The transfer pricing demand was most likely due to an increase in global scrutiny around inter-company transactions.
Deloitte 2015 revenues
Deloitte came in second with $35.2 billion in revenues for the fiscal year ended May 31. This represents a 7.6% growth in revenue for Deloitte per their press release.
Deloitte went a different route than PwC in their press release. They chose to speak about investments in their business and society. They also chose to highlight how they have been able to attract and retain their talent.
The mix of revenue for Deloitte & Touche LLP was:
- $12.2 billion from consulting
- $9.8 billion from assurance services
- $6.7 billion from tax & legal services
- $3.5 billion from enterprise risk services
- $3.1 billion from financial advisory
You can see that Deloitte blows PwC out of the water in all their consulting services, but PwC dwarfs Deloitte in audit revenue. PwC has been making a lot of acquisitions in the consulting space, so we will still have to wait and see if that pays off for PwC in the future.
This will most likely push PwC way ahead of Deloitte in a year when the economy is down. Consulting revenues dip in those years, so Deloitte’s revenues will sag while PwC’s audit revenues should remain stable as long as they don’t lose clients.
Ernst & Young 2015 revenue
Ernst and young LLP reported revenues of $28.7 billion for the fiscal year ending June 30, 2015. This represented an increase of 11.6% for EY which is pretty significant compared with prior years. The highest flying practice for Ernst & Young LLP was advisory services which grew by 17.6%.
The mix of revenue for Ernst & Young LLP was:
- $11.4 billion from assurance services
- $7.5 billion from tax
- $7.3 billion from advisory services
- $2.5 billion from transaction advisory services
KPMG 2015 revenue
KPMG’s revenue grew 8.1% to $24.4 billion for the fiscal year ending September 30, 2015.
The mix of revenue for KPMG LLP was:
- $10 billion from assurance services
- $9.1 billion from advisory services
- $5.3 billion from tax services
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