Deloitte vs McKinsey: Revenue, Profit and Business Model
Deloitte reported $74.5B of revenue in FY2026 and — of net income. McKinsey reported $16B of revenue in FY2026 and — of net income.
Latest financial snapshot
Financial summary
Deloitte
Deloitte's aggregate revenue grew from $59.3B in FY2022 to $64.9B in FY2023, $67.2B in FY2024, $70.5B in FY2025 and $74.5B in FY2026 (fiscal years end 31 May). FY2026 growth was 3.8% in local currency and 5.7% in US dollars; Asia Pacific grew fastest at 7.5%, followed by EMEA at 3.5% and the Americas at 3.2%. The figures are unaudited aggregates of independent member firms. Deloitte does not publish global net income, has no market capitalization, and distributes profits to partners of each member firm. Deloitte UK alone reported FY2026 revenue of ~$7.67B (£5.81bn), up 2%.
McKinsey
McKinsey does not publish audited financial statements. The firm disclosed revenue of about $16 billion for 2023, a figure widely cited by the Financial Times and others, and dropped revenue and headcount from its 2024 annual report. Anything later, including 2025 revenue, is an outside estimate. Profit is shared among partners, so there is no net income, market capitalization or share price to report. Settlements announced in December 2024, roughly $650 million to the US Justice Department over Purdue Pharma and about $122 million over South Africa, are the largest disclosed one-off costs in recent years.
Revenue and profit by year
Deloitte
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $74.5B | — | 0.0% | +5.7% | Source |
| FY2025 | $70.5B | — | 0.0% | +4.9% | Source |
| FY2024 | $67.2B | — | 0.0% | +3.5% | Source |
| FY2023 | $64.9B | — | 0.0% | +9.4% | Source |
| FY2022 | $59.3B | — | 0.0% | — | Source |
McKinsey
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $16B | — | 0.0% | — | |
| FY2023 | $16B | — | 0.0% | — | Source |
Where the revenue comes from
Deloitte
- Audit and Assurance Fees
Not publicly split in release
Fees from statutory audits, assurance engagements, accounting advisory, reporting, and control-related services.
- Consulting and Transformation Fees
Not publicly split in release
Fees from strategy, technology, AI, cloud, cyber, human capital, operations, and implementation programs.
- Tax, Legal, Risk, and Advisory Fees
Not publicly split in release
Fees from tax compliance and advisory, legal services, regulatory work, risk, forensic, and transaction services.
McKinsey
- Strategy & Corporate Finance
Not disclosed
McKinsey's foundational service, providing high-level strategic advice on corporate strategy, mergers and acquisitions,
- Operations
Not disclosed
A comprehensive suite of services focused on improving the efficiency, agility, and resilience of the client's core oper
- Marketing & Sales
Not disclosed
Specialized advisory services designed to drive top-line growth through advanced analytics, customer experience transfor
- QuantumBlack & Digital Transformation
Not disclosed
QuantumBlack AI, analytics and technology delivery work.
Business model and strategy
Deloitte
How it makes money
Deloitte sells professional time, expertise and increasingly technology-enabled managed services. Revenue comes from four reported businesses: Audit & Assurance (statutory audits and assurance, which grew 5% in local currency in FY2026), Technology & Transformation (enterprise software, cloud, AI and engineering programs, up 2.5%), Strategy, Risk & Transactions (M&A, risk, restructuring and strategy advice, up 4.4%),…
Growth strategy
Deloitte's growth strategy centers on agentic AI, AI infrastructure and managed services. Zora AI deploys AI agents inside client environments; Silicon2Service and AI Factory-as-a-Service help clients build AI infrastructure; Robotics2Service extends into physical AI using NVIDIA Omniverse. Operate services provide recurring, multi-year revenue, and IndustryAdvantage packages sector-specific solutions.
Competitive advantage
Deloitte's advantage is breadth at scale: it can audit a company, advise on a deal, implement SAP or Salesforce, run cyber operations and handle tax in one relationship. Gartner has ranked it the No. 1 consulting services provider by revenue for nine consecutive years, and its alliances with NVIDIA, Google Cloud, AWS, Microsoft, SAP and Oracle feed large implementation programs.
McKinsey
How it makes money
McKinsey makes money by charging fees for professional services. Clients pay for project teams, usually priced per team per week, and increasingly through multi-year transformation programs and some outcome-linked arrangements.
Growth strategy
Since 2021 McKinsey has pushed beyond advice into implementation, technology and AI. QuantumBlack is the center of that push, supported by tuck-in acquisitions in data engineering, supply-chain planning, capital-project estimating and digital marketing. Internally, the firm rolled out its Lilli generative AI platform and by January 2026 reported about 25,000 AI agents working alongside roughly 40,000 people.
Competitive advantage
McKinsey's edge is access to the top of large organizations. Its brand, a long record of CEO-level relationships and an alumni network that includes many senior executives give it entry to board-level decisions that most rivals compete hard to reach.
Questions about Deloitte vs McKinsey
Which company has higher revenue — Deloitte Touche Tohmatsu Limited or McKinsey & Company?
Deloitte Touche Tohmatsu Limited reported $74.5B (FY2026), while McKinsey & Company reported $16.0B (FY2026). By last reported revenue, Deloitte Touche Tohmatsu Limited is the larger business, with McKinsey & Company reporting a smaller revenue base.
Which is more financially efficient — Deloitte Touche Tohmatsu Limited or McKinsey & Company?
Deloitte Touche Tohmatsu Limited generates $157k / employee in revenue per employee, while McKinsey & Company generates $400k / employee. McKinsey & Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Deloitte Touche Tohmatsu Limited and McKinsey & Company make money?
Deloitte Touche Tohmatsu Limited and McKinsey & Company generate revenue in fundamentally different ways. Deloitte Touche Tohmatsu Limited: Deloitte sells professional time, expertise and increasingly technology-enabled managed services. McKinsey & Company: McKinsey makes money by charging fees for professional services.
Is Deloitte Touche Tohmatsu Limited bigger than McKinsey & Company?
By last reported revenue, Deloitte Touche Tohmatsu Limited ($74.5B (FY2026)) is the larger company compared to McKinsey & Company ($16.0B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Deloitte vs McKinsey overview