Ernst and Young released their latest revenue numbers for 2016. Their revenue for 2016 is $29.6 billion. This makes them the third largest accounting firm in the US and the world.
They had $28.7 billion of revenue in 2015.
This represents almost a billion dollar increase in revenues year over year.
Deloitte revenue also increased by almost a billion dollars.
EY was able to gain some ground on PwC though because PwC revenue grew by only $500 million.
Ernst & Young Revenue by line of service
|Revenue by LOS|
|Line of Service||2016||2015|
|Transaction Advisory Services||2,728||2,535|
The assurance line of service was responsibe for 11.3 billion of revenue.
Advisory was the second highest earning line of service for EY. It earned 7.8 billion in revenue in 2016.
The tax line of service was responsible for $7.8 billion in revenue.
Transaction advisory services was responsible for $2.7 billion in revenue in 2016.
The fastest growing line of service is transaction advisory services. Ernst & Young transaction advisory services grew by 14.2 %.
We provide an overview of EY transaction advisory services on our EY careers page.
EY Revenue by Region
|Revenue by Region|
EY’s highest earning region is the Americas.
- The America’s region earned $13.6 billion.
- The EMEIA region came in second with $11.7 billion.
- Asia Pacific was the third highest earning region with $3.3 billion.
- Japan was responsible for $1 billion.
Investments in quality
Ey invested $500 million in training their employees. Their employees took over 12 million hours of training in the fiscal year 2016.
Ernst & Young People
EY partner Admits - EY promoted 714 individuals to partner across all global firms. 35% of the partner class came from emerging markets. 29% of partners admitted were women.
EY grew their headcount by 9% to 231,000 people.
Their headcount grew from 212,000 in 2015.
People by Line of Service
|People by Line of Service|
|Transaction Advisory Services||12,236||10,728|
Ey’s largest line of service remains is the Assurance practice. The assurance practice has 82,555. The advisory practice has 48,104. The tax practice has 46,216 people. Transaction advisory services has 12,236 people in the practice. EY's firms support employs 41,689.
The advisory practice had the most growth in people with 15.6% growth.
Transaction advisory services had the second most growth with 14% growth in people.
People by Region
|People by Region|
EY’s region with the most people is EMEIA. The EMEIA region employs 112,871. The Americas region has the second most people with 69,718. Asia Pacific has the third most people with 40,491. Japan has 7,720 people in their practice.
The highest growing region is 12.1%.
The big 4 public accounting firms usually release social contribution numbers in the revenue press releases.
EY contributed 700,000 professional hours to social causes. They also contributed $90 million directly to community projects.
In conclusion this appears to be a great year for Ernst & Young. They have almost a billion dollars in growth. They were able to maintain their position as the third largest accounting firm in the world. If EY keeps having years like this while PwC struggles, they might be able to become the second largest accounting firm in the world one day.