Deloitte vs PricewaterhouseCoopers: Revenue, Profit and Business Model
Deloitte reported $74.5B of revenue in FY2026 and — of net income. PricewaterhouseCoopers reported $56.9B of revenue in FY2025 and — of net income.
Latest financial snapshot
Deloitte
- Latest revenue
- $74.5B (FY2026)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +5.9% a year, FY2022–FY2026
PricewaterhouseCoopers
- Latest revenue
- $56.9B (FY2025)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +4.2% a year, FY2022–FY2025
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%.
PricewaterhouseCoopers
PwC reports network gross revenue, not consolidated profit, because its member firms are private partnerships. Revenue rose 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. FY2025 growth was 2.7% in local currency and 2.9% in US dollars, with the Americas up 5.5% to US$25.5 billion. The network said it invested US$3.1 billion across its firms during the year. Net income is not disclosed at network level.
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 |
PricewaterhouseCoopers
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $56.9B | — | 0.0% | +2.7% | Source |
| FY2024 | $55.4B | — | 0.0% | +4.3% | Source |
| FY2023 | $53.1B | — | 0.0% | +5.6% | Source |
| FY2022 | $50.3B | — | 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.
PricewaterhouseCoopers
- Advisory
$24.386B FY2025
Consulting, strategy, deals, risk, cyber, transformation, technology, managed services, and industry-specific advisory work.
- Assurance
$19.846B FY2025
Statutory audit, capital-markets assurance, controls, reporting, and other trust-related services.
- Tax and Legal
$12.736B FY2025
Tax compliance, transfer pricing, legal services, restructuring, and cross-border advisory services.
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.
PricewaterhouseCoopers
How it 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 PricewaterhouseCoopers International Limited (PwCIL), a UK company limited by guarantee that does not serve clients itself. Member firms bill clients through three lines of service.
Growth 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 OpenAI's ChatGPT Enterprise.
Competitive advantage
PwC's edge is a combination of audit credentials and reach. Large listed groups need an auditor with qualified partners and regulator relationships in every country they operate in, and only the Big Four (PwC, Deloitte, EY and KPMG) audit most of the world's largest companies.
Questions about Deloitte vs PricewaterhouseCoopers
Which company has higher revenue — Deloitte Touche Tohmatsu Limited or PricewaterhouseCoopers?
Deloitte Touche Tohmatsu Limited reported $74.5B (FY2026), while PricewaterhouseCoopers reported $56.9B (FY2025). By last reported revenue, Deloitte Touche Tohmatsu Limited is the larger business, with PricewaterhouseCoopers reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
Which is more financially efficient — Deloitte Touche Tohmatsu Limited or PricewaterhouseCoopers?
Deloitte Touche Tohmatsu Limited generates $157k / employee in revenue per employee, while PricewaterhouseCoopers generates $156k / employee. Deloitte Touche Tohmatsu Limited 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 PricewaterhouseCoopers make money?
Deloitte Touche Tohmatsu Limited and PricewaterhouseCoopers generate revenue in fundamentally different ways. Deloitte Touche Tohmatsu Limited: Deloitte sells professional time, expertise and increasingly technology-enabled managed services. PricewaterhouseCoopers: PwC is not one company.
Is Deloitte Touche Tohmatsu Limited bigger than PricewaterhouseCoopers?
By last reported revenue, Deloitte Touche Tohmatsu Limited ($74.5B (FY2026)) is the larger company compared to PricewaterhouseCoopers ($56.9B (FY2025)). 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 PricewaterhouseCoopers overview