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PricewaterhouseCoopers

Professional services and accountingFounded 1849
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
5 historical events · Editorial analysis

PricewaterhouseCoopers Company Profile: Revenue, Business Model & Strategy

Research depth: 5 milestones · 10 FAQs

PwC is a Big Four network of partner-owned firms offering audit, tax, legal and advisory services. In FY2025 (year to 30 June 2025) it reported US$56.9 billion in gross revenue and about 364,000 employees in 136 countries. Mohamed Kande has been Global Chairman since 1 July 2024.

How PricewaterhouseCoopers makes money: PwC is not one company. Each national firm, such as PricewaterhouseCoopers LLP in the US or the UK firm, is a separate legal entity owned by its partners and licensed to use the PwC name, methodologies and technology by…

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)$56.9B
Employees364,000
CEOMohamed Kande
Founded1849
IndustryProfessional Services
By Swet ParvadiyaLast reviewed:
Data sources: annual reports, SEC filings, methodology
Industry:Professional services and accounting

PricewaterhouseCoopers key figures

PricewaterhouseCoopers had revenue of $56.9B for fiscal year 2025, up 2.7% from FY2024.

Source: PwC global annual revenue release · Last reviewed October 2026

Revenue growth, FY2022 to FY2025
+4.2% a year
Compound annual rate, $50.3B to $56.9B
Peak revenue year
FY2025
The latest annual year is the highest in this series
Revenue per employee
$156,319
FY2025 revenue divided by 364,000 employees; headcount may use another date
Documented transactions
4
Between 1998 and 2014
Founded
1849
177 years ago
Where was PricewaterhouseCoopers founded?
PricewaterhouseCoopers was founded in London, United Kingdom in 1849.
When did PricewaterhouseCoopers start?
PricewaterhouseCoopers was founded in 1849.
Who founded PricewaterhouseCoopers?
PricewaterhouseCoopers was founded by Samuel Lowell Price, William Cooper, Edwin Waterhouse and William M. Lybrand.
How old is PricewaterhouseCoopers?
PricewaterhouseCoopers is 177 years old as of 2026.
In-Depth Analysis
348 words · 2 min read

PwC at a glance

PwC is a Big Four network of partner-owned firms coordinated by PricewaterhouseCoopers International Limited in London. For the year ended 30 June 2025 its firms reported record gross revenue of US$56.9 billion, up 2.7% in local currency and 2.9% in US dollars, with about 364,000 people in 136 countries. Mohamed Kande has been Global Chairman since 1 July 2024.

How PwC makes money

Member firms bill clients for Advisory (about US$24.4 billion in FY2025), Assurance (about US$19.8 billion) and Tax and Legal Services (about US$12.7 billion). Audits are recurring because listed and regulated companies must buy them every year; advisory is larger but more exposed to the consulting cycle. Profits are shared by each firm's partners, and no network net income is published.

Revenue trend

Gross revenue grew from US$50.3 billion in FY2022 to US$53.1 billion in FY2023, US$55.4 billion in FY2024 and US$56.9 billion in FY2025. Growth slowed each year, and Bloomberg Law reported that PwC lagged its Big Four peers in FY2025. The Americas were the largest region at US$25.5 billion.

Competitors

PwC competes with Deloitte, EY and KPMG for audit, tax and advisory work, and with Accenture, McKinsey, BCG, Bain and IBM Consulting for consulting and technology projects. Its Strategy& unit, formerly Booz & Company, competes for senior strategy work.

Risks and controversies

Audit quality is the main risk. In 2024 China fined PwC Zhong Tian ~$61.3 million (441 million yuan) and suspended it for six months over Evergrande audits. In 2023 a tax-leak scandal in Australia led to the CEO's resignation and A$1 sale of the government consulting arm. AI automation and lower graduate hiring are reshaping the staffing model.

History

Samuel Lowell Price opened his London practice in 1849, and Price Waterhouse formed in 1865. William Cooper's 1854 practice and the 1898 Philadelphia firm Lybrand, Ross Bros. & Montgomery combined as Coopers & Lybrand in 1957. The two merged in 1998 to create PricewaterhouseCoopers, which sold its consulting arm to IBM in 2002, adopted the PwC brand in 2010 and bought Booz & Company in 2014.

Table of Contents

PricewaterhouseCoopers Key Facts

CompanyPricewaterhouseCoopers
Annual revenue change+2.7% (FY2024–FY2025)
Financials$56.9B (FY2025, last reviewed October 2026)
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded1849
Founder(s)Samuel Lowell Price, William Cooper, Edwin Waterhouse, William M. Lybrand
CEOMohamed Kande
HeadquartersLondon, United Kingdom
IndustryProfessional services and accounting
Employees364,000+

PricewaterhouseCoopers Company Profile: Revenue, Business Model & Strategy

"PwC's member firms took in US$56.9 billion in FY2025, but growth slowed to 2.7% and headcount fell by about 5,600, showing how a 175-year-old audit franchise is adjusting to weaker consulting demand and AI."

PwC is a Big Four network of partner-owned firms offering audit, tax, legal and advisory services. In FY2025 (year to 30 June 2025) it reported US$56.9 billion in gross revenue and about 364,000 employees in 136 countries. Mohamed Kande has been Global Chairman since 1 July 2024.

Revenue

$56.9B

Founded

1849

Author: CorpDigest Research DeskCompany Research

Recorded annual revenue change

PricewaterhouseCoopers had $55.4B of annual revenue in FY2024 and $56.9B in FY2025. Revenue rose 2.7% between those fiscal years.

Source for FY2025

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Explore PricewaterhouseCoopers In Depth

Detailed research across every dimension of PricewaterhouseCoopers — history, financials, leadership, and strategy.

Company History

PwC is one of the Big Four professional services networks, alongside Deloitte, EY and KPMG. Its member firms audit a large share of the world's biggest listed companies and sell tax, legal, deals, consulting and…

Full PricewaterhouseCoopers history →

Revenue & Financials

PricewaterhouseCoopers had $56.9B in revenue for fiscal year 2025. Data covers 4 fiscal years.

PricewaterhouseCoopers financials →

Founders

PricewaterhouseCoopers was founded by Samuel Lowell Price, William Cooper, Edwin Waterhouse, William M. Lybrand in 1849. Explore each founder's background, motivations, and their role in building the company.

PricewaterhouseCoopers founders →

CEO & Leadership

PricewaterhouseCoopers is currently led by Mohamed Kande. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

PricewaterhouseCoopers CEO history →

Business Model

PwC is not one company. Each national firm, such as PricewaterhouseCoopers LLP in the US or the UK firm, is a separate legal entity owned by its partners and licensed to use the PwC name, methodologies and technology by…

How PricewaterhouseCoopers makes money →

Acquisitions

PricewaterhouseCoopers has completed 4 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

PricewaterhouseCoopers acquisitions →

Competitive Strategy

PwC's growth plan centres on AI-enabled services and technology work. PwC US announced a US$1 billion, three-year investment in generative AI in April 2023 and in 2024 became an early enterprise customer and reseller of…

PricewaterhouseCoopers strategy →

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CorpDigest Research Desk

 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Sources & References

All data point citations [1], [2], etc. in the tables above refer to these primary sources.

Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Frequently Asked Questions About PricewaterhouseCoopers

How does PwC make money?

PwC member firms charge fees for three lines of service. In FY2025 Advisory brought in about US$24.4 billion, Assurance (audit) about US$19.8 billion and Tax and Legal Services about US$12.7 billion, for total gross revenue of US$56.9 billion.

Who owns PwC?

PwC is owned by its partners. Each national member firm is a separate private partnership owned by its local partners, coordinated by PricewaterhouseCoopers International Limited in London. PwC has no shareholders and is not listed.

Who is the CEO of PwC?

PwC's top global role is Global Chairman, held by Mohamed Kande since 1 July 2024. Paul Griggs leads PwC US as Senior Partner, and each member firm has its own leader.

Who are PwC's competitors?

PwC's main competitors are the other Big Four firms, Deloitte, EY and KPMG, plus consulting firms such as Accenture, McKinsey, BCG, Bain and IBM Consulting.

What is PricewaterhouseCoopers (PwC) and what professional services does it provide?

PricewaterhouseCoopers (PwC) is one of the world's 'Big Four' professional services networks, providing comprehensive assurance (statutory audit and financial reporting), tax compliance and structuring, deals advisory, enterprise risk consulting, and technology transformation services to Fortune 500 corporations, financial institutions, governments, and private enterprises globally.

How is the global PwC network legally and operationally structured?

PwC operates as a decentralized network of independent member firms coordinated through PricewaterhouseCoopers International Limited (PwCIL), a UK private company limited by guarantee. Each national member firm, such as PwC US or PwC UK, is a distinct legal entity owned by its local partners, allowing compliance with national professional licensing regulations while leveraging shared global methodologies and technologies.

Where is PricewaterhouseCoopers headquartered and in how many countries does it operate?

PwC's coordinating entity, PricewaterhouseCoopers International Limited, is based in London. Member firms operate in 136 countries with about 364,000 people as of FY2025.

What was PwC's total global gross revenue in recent fiscal years?

For the year ended 30 June 2025 PwC firms reported gross revenue of US$56.9 billion, up 2.7% in local currency from US$55.4 billion in FY2024. FY2023 revenue was US$53.1 billion.

What are the core operating business segments within PwC?

PwC organizes its client service delivery into three primary global lines of service: Assurance (audit, ESG disclosure verification, and financial reporting), Tax & Legal Services (corporate tax compliance, transfer pricing, and cross-border M&A structuring), and Advisory (strategy, operational restructuring, cloud modernization, cybersecurity, and artificial intelligence integration).

How does PwC invest in artificial intelligence and digital workforce enablement?

PwC US committed US$1 billion over three years to generative AI in 2023, working with Microsoft and OpenAI, and in 2024 PwC became the first reseller of ChatGPT Enterprise. Staff use internal tools such as ChatPwC for research, drafting and analysis.

Strategic Face-Off

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.