It was a banner year for those representing the blue and white of KPMG as the Big Four accounting firm reached a record $39.8 billion in revenue for the 2025 fiscal year ending Sept. 30, up 5.1% in local currency terms and 5.4% in U.S. dollar terms from FY 2024.
Among the Big Four, KPMG had the biggest year-over-year revenue increase—better than Deloitte’s 4.8% increase in local currency terms and 4.9% increase in U.S. dollar terms, EY’s increase of 4% in local currency terms and 3.9% in U.S. dollar terms, and PwC’s 2.7% increase in local currency terms and 2.9% in U.S. dollar terms.
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“Our results show that the multibillion-dollar investments we’ve made are driving sustainable growth across KPMG globally,” Bill Thomas, global chairman and CEO of KPMG International, said in a statement on Dec. 16. “I am proud of our teams’ commitment to delivering high-quality services and making a positive impact for clients, people, and society. At a time of unprecedented change and volatility, KPMG’s combination of deep local presence and strong global connectivity means we are well-positioned to support clients with highly complex, interconnected challenges—both now and into the future.”
Despite challenging global market conditions, KPMG saw strong growth across all regions, with Americas up 4.8%, Asia Pacific up 4.1%, and EMA (Europe, Middle East, and Africa) up 4.7%—all in U.S. dollar terms.
In 2023, KPMG announced a three-year, $4.2 billion investment plan as part of its collective strategy, focused on technology, talent, and sustainability. The firm said these investments continued to drive growth across KPMG’s multidisciplinary organization:
- Tax and Legal Services: Grew by 7.8% in U.S. dollar terms, driven by client demand for the firm’s AI-enabled managed services and transformation capability, and assisting clients in navigating global tax reform.
- Audit: Grew 6.4% in U.S. dollar terms, underpinned by continued investments in audit quality and transformative AI capabilities, and growing demand for assurance services.
- Advisory: Grew 3.4% in U.S. dollar terms, with continued demand for the firm’s managed services and rapid growth in the number of client projects delivered jointly with alliance partners this year.
Over the last year, KPMG said its member firms have helped some of the world’s largest organizations unlock the potential for AI to deliver growth and competitive advantage.
Some highlights of the firm’s work in AI this year include:
- Launched KPMG Workbench, the firm’s foundational and single AI platform designed to scale global adoption and integration of AI. KPMG Workbench combines advanced AI agents with the insight, judgment, and expertise of the firm’s professionals to help deliver smarter solutions for clients.
- Worked alongside the firm’s global alliance partners to embed leading AI technologies into client and delivery platforms—KPMG Digital Gateway, KPMG Velocity, and KPMG Clara—driving elevated value for clients.
- KPMG teams are expanding AI assurance services to provide independent, third-party assurance to help clients build trust as they use and scale AI ethically and responsibly.
- The Big Four accounting firm’s multidisciplinary approach has enabled it to maximize talent globally and share learnings across functions and member firms.
- Launched a global study with the University of Melbourne, Trust, attitudes and use of artificial intelligence, to explore the impact AI is having on individuals and organizations.
KPMG’s global headcount grew to 276,030 over FY 2025 as the firm continued to invest in talent, with a particular focus on specialist hires in strategic growth areas like AI and tax and legal services.
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Tags: Accounting, accounting firms, Firm Management, firm revenue, KPMG, revenue
