In fiscal year 2025, PwC generated approximately 56.9 billion U.S. dollars in aggregated gross revenue. Advisory revenue increased by 4.5% to $24.3 billion, followed by assurance (1.7%, $19.8 billion) and tax and legal services (1.0%, $12.7 billion). PwC operates in 149 countries, with a global workforce of more than 370,000 people (as of FY 2024).
Cyborg Score Rationale
PwC is second-largest among the Big Four, with diversified revenue streams across advisory, assurance, and tax services. All three lines of business saw revenues grow in FY25. However, headcount decreased by 5,600 in FY25, down to 364,000 people, suggesting operational optimization amid market pressures.
Top Insights
Growth is accelerating across new areas of assurance — from sustainability to AI — and PwC is expanding its capabilities to meet rising expectations.
In the last three years, PwC doubled the size of its Managed Services business, which is anticipated to remain a significant growth driver moving forward.
Connected Tax Compliance remains the largest growth area in tax, fueled by increasingly complex reporting requirements in areas from Pillar Two to sustainability.
Strong demand for consulting services grew in FY25, supported by clients' M&A activity and business transformation efforts, underpinned by assessment of artificial intelligence impact.
Named Competitors
Deloitte Consulting — Largest Big Four firm by revenue; audit, tax, and consulting services
EY Advisory — Third-largest Big Four firm; assurance, tax, and transaction advisory
KPMG Consulting — Fourth Big Four firm; audit, tax, and advisory services