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KPMG Announces $36 Billion in Global Revenue, Comes in 4th Yet Again

Blue KPMG signage at entrance to their offices in Canary Wharf

As always happens some time in December, KPMG has announced global revenue for the fiscal year now behind us: $36 billion USD for the fiscal year ending September 30, 2023, an increase of eight percent from FY22’s $34.6 billion (five percent in US currency). “The figures reflect robust year-on-year growth, bolstered by a multi-disciplinary approach that combines world-leading expertise and integrated capabilities,” says the press release we don’t care about.

Growth by service line was modest but decent considering the year advisory has had:

  • Audit: Local growth 9% (6% US$)*
  • Advisory: 7% (4% US$)
  • Tax & Legal: 10% (7% US$)

Obligatory explainer on the difference between local and US$ growth:

*Local growth percentages maintain consistent US$ exchange rates in FY23 and FY22 and therefore do not reflect exchange rate changes between the years. US$ growth rates are derived from underlying revenue numbers and not rounded figures used for presentation purposes.

Headcounts across the globe saw single-digit increases except Americas where the headcount shrunk by six percent.

Americas 62,78166,892 -6%
Asia Pacific 57,46556,386 2%
EMA 153,178142,368 8%
Total 273,424265,646 3%

KPMG global revenue by region:

RegionsFY23FY22Local GrowthUS$ Growth
Asia Pacific6.16.34%-3%

And service line:

FunctionsFY23FY22Local GrowthUS$ Growth
Tax and Legal Services7.97.410%7%

Global partners, directors, leadership, and others:

LevelFY23% Men% Women
Partners 13,221 76.8% 23.2%
Directors 11,711 64.9% 35.1%
Leadership 24,932 71.2% 28.8%
Other employees 248,492 49.0% 51.0%
Total 273,424 51.0% 49.0%

With this announcement, all four Big 4 firms have now posted their numbers for FY23 and Deloitte once again came out on top. Not a single person is surprised.

  1. Deloitte: $64.9 billion (FY22 $59.3 billion)
  2. PwC: $53.1 billion (FY22 $50.3 billion)
  3. EY: $49.4 billion (FY22 $45.4 billion)
  4. KPMG: $36 billion (FY22 $34.6 billion)

Further reading (including “Big 3??” jabs): KPMG growth lags that of Big Four rivals as it posts global revenues [FT]

One thought on “KPMG Announces $36 Billion in Global Revenue, Comes in 4th Yet Again

  1. Not that impressive honestly, I have heard that EY has a vision to exceed $50 billion in revenue by the year 2020

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