Connect with us

Business

Visualizing the Revenue of the Big Four Accounting Firms

Published

on

See this visualization first on the Voronoi app.

Donut chart showing revenue of the top four accounting firms.

Visualizing the Revenue of the Big Four Accounting Firms

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The Big Four accounting firms – Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and KPMG – have solidified their positions as global industry leaders, boasting a combined revenue exceeding $200 billion in 2023.

Together, these firms audit the majority of publicly traded companies worldwide.

This infographic details the revenues of the “Big Four” accounting firms for the fiscal year 2023, based on data from Statista.

Deloitte Leads the Big Four in 2023 Revenues

Offering diverse services, the Big Four specialize in auditing and assurance, ensuring financial transparency, and regulatory compliance for their clients. Additionally, they provide strategic consulting services. All four are legally headquartered in the UK and command a dominant global market share.

CompanyAuditing & AssuranceConsultingTaxOtherTotal ($ billions)
Deloitte$20.1$29.6$10.3$5.1$65.1
PwC$18.7$22.6$11.8$53.1
EY$15.1$16.1$12.1$6.1$49.4
KPMG$12.6$15.9$7.9$36.4

Interestingly, the largest accounting firms were formerly known as the “Big Eight,” but mergers and closures starting in the late 1980s have reduced their number to four.

The original group consisted of Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskin & Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross, all headquartered in the U.S. or UK.

Arthur Young merged with Ernst & Whinney, and Deloitte Haskin & Sells combined with Touche Ross. Subsequently, Price Waterhouse and Coopers & Lybrand merged their practices, reducing the count to five. However, following the collapse of Arthur Andersen due to its involvement in the Enron scandal, the “Big Five” became the present-day four.

The Scale of the Big Four

Deloitte is the largest in terms of headcount, with over 456,000 employees as of FY2023, followed by Ernst & Young with more than 395,000 workers, and PwC with 364,000. Despite being the smallest among the four, KPMG still has 298,356 employees.

Click for Comments

Markets

Ranked: The Largest U.S. Corporations by Number of Employees

We visualized the top U.S. companies by employees, revealing the massive scale of retailers like Walmart, Target, and Home Depot.

Published

on

The Largest U.S. Corporations by Number of Employees

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Revenue and profit are common measures for measuring the size of a business, but what about employee headcount?

To see how big companies have become from a human perspective, we’ve visualized the top U.S. companies by employees. These figures come from companiesmarketcap.com, and were accessed in March 2024. Note that this ranking includes publicly-traded companies only.

Data and Highlights

The data we used to create this list of largest U.S. corporations by number of employees can be found in the table below.

CompanySectorNumber of Employees
WalmartConsumer Staples2,100,000
AmazonConsumer Discretionary1,500,000
UPSIndustrials500,000
Home DepotConsumer Discretionary470,000
ConcentrixInformation Technology440,000
TargetConsumer Staples440,000
KrogerConsumer Staples430,000
UnitedHealthHealth Care400,000
Berkshire HathawayFinancials383,000
StarbucksConsumer Discretionary381,000
Marriott InternationalConsumer Discretionary377,000
CognizantInformation Technology346,600

Retail and Logistics Top the List

Companies like Walmart, Target, and Kroger have a massive headcount due to having many locations spread across the country, which require everything from cashiers to IT professionals.

Moving goods around the world is also highly labor intensive, explaining why UPS has half a million employees globally.

Below the Radar?

Two companies that rank among the largest U.S. corporations by employees which may be less familiar to the public include Concentrix and Cognizant. Both of these companies are B2B brands, meaning they primarily work with other companies rather than consumers. This contrasts with brands like Amazon or Home Depot, which are much more visible among average consumers.

A Note on Berkshire Hathaway

Warren Buffett’s company doesn’t directly employ 383,000 people. This headcount actually includes the employees of the firm’s many subsidiaries, such as GEICO (insurance), Dairy Queen (retail), and Duracell (batteries).

If you’re curious to see how Buffett’s empire has grown over the years, check out this animated graphic that visualizes the growth of Berkshire Hathaway’s portfolio from 1994 to 2022.

Continue Reading
Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Popular