Research

The Ledgerism Accounting Firm Size Tracker: US Headcount, Revenue, and Partner Counts for the Top 30 Firms

By chrisomo

The largest accounting firms in the United States are tracked here by US revenue, US headcount, and partner count, for the top 30 firms by revenue. This is a living dataset, compiled from Big 4 US transparency reports and annual reviews, the INSIDE Public Accounting (IPA) Top 100 and Top 500 rankings, the Accounting Today Top 100 Firms list, the Public Accounting Report, and individual firm disclosures and deal announcements. Figures reflect each firm’s most recently reported fiscal year (FY2024 or FY2025, depending on the firm’s fiscal calendar), and the tracker is refreshed annually as new rankings and transparency reports publish, typically across Q1 and Q2. Every number below is traceable to a named source.

Scope and methodology

This tracker covers the 30 largest US accounting firms by US net revenue. For each firm we track five fields: US revenue for the most recent reported fiscal year (with the fiscal year noted), US headcount, partner or partner-and-principal count, ownership structure (independent partnership, public company, employee-owned, or private-equity-backed), and the named source. For the Big 4 we also show global revenue for context, because each of the four reports a global figure prominently while the US member firm figure comes from the rankings.

Sources, in order of preference: Big 4 US transparency reports and “facts and figures” pages; the INSIDE Public Accounting (IPA) Top 100 and Top 500 rankings (the canonical US firm-size ranking, which ranks specifically by US net revenue); the Accounting Today Top 100 Firms annual list; the Public Accounting Report (PAR) Top 100; individual firm press releases announcing revenue milestones; and, for PE-backed firms, the deal announcements that disclose revenue at the time of the recapitalization. Where the IPA figure and the Accounting Today figure differ for the same firm, that is usually a net-revenue-basis difference (IPA figures tend to run slightly higher), and we note the basis.

Period: most recent reported fiscal year for each firm. Because fiscal calendars differ (Deloitte and PwC use late-spring or mid-year ends, KPMG uses September 30, RSM uses April 30), the “most recent year” is not the same calendar period across all firms, and we flag the fiscal year in each entry. Update cadence: annual, across Q1 and Q2 as the IPA and Accounting Today rankings and the Big 4 transparency reports publish. Data freshness for this edition: June 2026, reflecting the 2025 IPA 500 (published August 2025, on largely FY2024 results) and the most recent firm disclosures.

Limitations: the Big 4 report global and US figures separately, and we use the US member firm figure for the ranking and the global figure only for context. Private firms self-report revenue to the ranking bodies and are not audited on that disclosure. PE-backed revenue at recap is the figure disclosed in the deal announcement, which may predate the most recent fiscal year. US headcount and US partner counts are the hardest fields to confirm, because the Big 4 report headcount globally rather than by country, and most mid-tier firms do not publish a partner count consistently; where we cannot confirm a figure from a primary disclosure we mark it “reported, verify” rather than asserting it. Citation policy: every revenue, headcount, and partner figure below is tied to a named ranking, a transparency report, or a press release.

For the ownership side of this dataset, the companion 2026 CPA Firm PE Roll-Up Report tracks every verified private equity transaction in the sector. For the compensation that drives these revenue-per-head numbers, see the 2026 Accounting Salary Survey. The full library of trackers lives at Ledgerism research.

The Big 4

The four global network firms dominate US revenue and headcount by an order of magnitude over the next tier. Each publishes a prominent global revenue figure and a US transparency report, but the US member firm revenue used for ranking comes from the IPA 500, which ranks by US net revenue. Fiscal years differ: Deloitte ends May 31, PwC and EY end June 30, and KPMG ends September 30, so the “most recent” figure is not a common period across the four.

Deloitte is the largest, at $33.05 billion in US net revenue per the 2025 IPA 500 (FY ended May 31, 2024 basis), the figure that matches Deloitte’s own 2024 US transparency report appendix of $33,045 million for FY2024. Deloitte’s own facts-and-figures page reports a broader $35.7 billion in US revenues for FY2025 (ended May 31, 2025) on a wider “Deloitte LLP and subsidiaries” basis, which is more recent than the IPA figure, per Deloitte US. Globally, Deloitte reported $70.5 billion for FY2025, up from $67.2 billion in FY2024, per Deloitte Global.

PwC US reported $24.34 billion in US net revenue (2025 IPA 500, FY ended June 30, 2024 basis), with roughly 75,000 US employees, a figure widely reported around its 2025 reduction of about 1,800 US staff, per Consulting.us. Globally PwC reported $56.9 billion for FY2025 (ended June 30, 2025), up from $55.4 billion in FY2024, per PwC Global. PwC’s global function split for FY2024 was Assurance $19.5 billion, Tax and Legal $12.6 billion, and Advisory $23.3 billion; it does not publish a US-only split.

EY (Ernst & Young LLP) reported $24.15 billion in US net revenue (2025 IPA 500, FY ended June 30, 2024 basis). A note of caution: this US member firm figure of $24.146 billion is coincidentally close to EY’s whole-Americas region revenue of about $24.1 billion for FY2024, per CPA Practice Advisor, and the two are different measures that should not be conflated. Globally EY reported $53.2 billion for FY2025, up from $51.2 billion in FY2024, with 14,075 partners and principals worldwide in FY2024, per EY Global and CPA Practice Advisor.

KPMG US (KPMG LLP) reported $15.20 billion in US net revenue (2025 IPA 500, FY ended September 30, 2024 basis). It is the only Big 4 firm with a directly confirmable US partner count: its 2025 US transparency report states the firm “is wholly owned by our more than 2,400 partners and principals,” per KPMG LLP’s 2025 transparency report. Globally KPMG reported $39.8 billion for FY2025, up from $38.4 billion in FY2024, per KPMG International.

Source: 2025 IPA 500 (INSIDE Public Accounting, August 2025) for US revenue; Deloitte, PwC, EY, KPMG global press releases for global revenue; KPMG LLP 2025 transparency report for the confirmed US partner count; Consulting.us for PwC US headcount. Headcount figures marked “reported, verify” are estimates triangulated from regional disclosures, because the Big 4 do not publish clean US-only headcount.

The full Top 30 tracker

This is the centerpiece. The table ranks the 30 largest US firms by US net revenue, using the 2025 IPA 500 and Accounting Today 2025 as the controlling rankings and firm or deal disclosures for the most recent figures. Ownership labels are “Partnership” (independent, partner-owned), “Public” (listed company), “ESOP” (employee-owned), or the named private equity sponsor for PE-backed firms. Where a figure cannot be confirmed from a primary source it is marked “reported, verify.” Revenue is US net revenue for the fiscal year shown.

A note on ordering around the 12th to 20th positions: the FY2024-based 2025 rankings place Plante Moran, CohnReznick, Crowe, CBIZ (post-Marcum), Citrin Cooperman, and Cherry Bekaert in a tight band where IPA and Accounting Today differ by a place or two depending on revenue basis. We use the IPA 500 ordering as the spine and note where Accounting Today differs.

Note on rows 29 and 30: Marcum and Moss Adams no longer appear as standalone ranked firms because each was absorbed in 2024 and 2025 respectively. We retain them here as named entries so the historical reference resolves, with their revenue now consolidated into CBIZ and Baker Tilly. The genuinely independent firms still ranking in this band on the most recent lists include Eide Bailly, Wipfli, Withum, and Cohen & Co; the precise 12th-through-20th ordering shifts between IPA and Accounting Today and is marked accordingly.

The PE-backed cohort

Private equity now owns a large share of the firms ranked 6 through 28. Of the top 30, the confirmed PE-backed names are Baker Tilly (Hellman & Friedman and Valeas), Grant Thornton (New Mountain Capital, with CDPQ and OA Private Capital), CohnReznick (Apax Partners, 51% of the advisory business), EisnerAmper (TowerBrook Capital Partners, the firm that started the wave in August 2021), Citrin Cooperman (now Blackstone after the January 2025 flip from New Mountain Capital), Armanino (Further Global, minority), Cherry Bekaert (Parthenon Capital), Wipfli (New Mountain Capital, roughly 40% minority), CRI (Centerbridge Partners and Bessemer, roughly 51%), Aprio (Charlesbank Capital Partners), PKF O’Connor Davies (Investcorp and PSP Investments), Sikich (Bain Capital, $250 million minority), Cohen & Co (Lovell Minnick), Schellman (Lightyear Capital, with a Goldman Sachs Alternatives recap announced March 2026), and Elliott Davis (Flexpoint Ford). Two more, Crowe (KKR) and Eide Bailly (Reverence Capital), agreed to investments announced in June 2026 that are expected to close in Q3 2026. Reported, verify on close.

Revenue at recap, where disclosed in the deal announcement: EisnerAmper was roughly $400 million when TowerBrook recapitalized it in August 2021, per the TowerBrook press release; Aprio was roughly $420 million at the Charlesbank deal in July 2024; CRI was $455.4 million (FY2023) at the Centerbridge deal in November 2024; PKF O’Connor Davies was $377.5 million (FY2023) at the Investcorp and PSP deal in November 2024; Wipfli was roughly $612 million at the New Mountain deal in August 2025; and Cohen & Co was roughly $153.9 million at the Lovell Minnick close on December 31, 2024. The corrections this edition makes against earlier compilations: Grant Thornton’s sponsor is New Mountain Capital (with CDPQ and OA Private Capital), not Onex; Citrin Cooperman’s current sponsor is Blackstone, not New Mountain; and BDO is employee-owned through an ESOP, not PE-backed (Apollo provided private-credit debt to fund the buyout, not equity). The full deal-by-deal record, including platform roll-ups like Ascend, Springline, and Crete, is in the 2026 CPA Firm PE Roll-Up Report.

The pattern is consistent: PE-backed firms grow faster, both organically and through tuck-in acquisitions funded by the sponsor. That growth is what moved Aprio, Citrin Cooperman, and CRI up the rankings year over year while independent partnerships of similar starting size grew in the low single digits.

Revenue per partner and leverage

Revenue per partner separates the tiers cleanly. At the Big 4, the only firm with a confirmed US partner count is KPMG, at 2,400-plus partners against $15.20 billion in US net revenue, which implies roughly $6.3 million of US revenue per partner. Applying PwC’s commonly cited estimate of around 3,000 US partners against $24.34 billion implies roughly $8.1 million per partner, the highest in the dataset, though the PwC partner count is an estimate and marked verify. These figures sit well above the national-firm tier because the Big 4 carry a deep base of non-partner professional staff under each partner.

In the national tier, the math comes down. RSM US reports 1,182 partners and principals against roughly $4.03 billion, or about $3.4 million per partner. EisnerAmper reports 475 partners against roughly $1.02 billion, about $2.1 million per partner. Wipfli reports 271 partners against $612 million, about $2.3 million per partner. Armanino reports 262 partners against $716 million, about $2.7 million per partner. Elliott Davis reports 60 partners against $189 million, about $3.2 million per partner. The spread reflects practice mix: advisory-heavy firms tend to show higher revenue per partner than audit-concentrated ones.

The staff-to-partner leverage ratio is the other side of the same coin. RSM’s 16,756 staff against 1,182 partners is a leverage ratio of roughly 14 to 1. EisnerAmper’s roughly 4,700 staff against 475 partners is about 10 to 1. Wipfli’s 3,200-plus against 271 is about 12 to 1. Higher leverage generally signals a more scalable, more PE-attractive model, because revenue can grow without proportionally expanding the equity-partner base. The Big 4 run the highest leverage of all, which is part of why their revenue per partner is multiples of the national tier. All partner and headcount figures here are drawn from the firm snapshots and rankings cited in the tracker table; ratios are computed from those figures and inherit their “reported, verify” flags where applicable.

The growth leaders

The fastest-growing firms year over year are dominated by the PE roll-ups. Aprio grew roughly 15% to $485.34 million in FY2024 and, on a reported but unverified FY2025 basis, to roughly $615.9 million, per Aprio and IPA. CRI grew roughly 11% to $506.45 million (FY2024) from $455.4 million (FY2023), per Accounting Today 2025. Citrin Cooperman and EisnerAmper both posted double-digit growth, with EisnerAmper moving from a roughly $1.02 billion FY2024 figure to a run-rate above $1.2 billion, per Accounting Today 2026. CBIZ grew 66% year over year in the first half of 2025, almost entirely from the Marcum acquisition that closed November 1, 2024, per CBIZ SEC filings, the clearest example of acquisition-driven rather than organic growth in the dataset.

Among the independents, growth is slower but real. BDO grew 4.6% to $3.018 billion in FY2025, per BDO’s March 2026 release. Forvis Mazars grew about 4% to $2.24 billion in the US, per Accounting Today. Wipfli grew 3.8% to $612.1 million, per its 2025 annual report. The distinction matters for readers using this tracker to gauge momentum: the headline growth leaders are nearly all PE-backed and are growing substantially through sponsor-funded tuck-ins, while the independent partnerships are posting steadier low-single-digit organic growth. Where a firm’s growth is acquisition-driven (CBIZ, Baker Tilly post-Moss Adams), we note it rather than presenting it as organic.

What we are tracking next

Several moves will reshape the next edition. The Crowe and KKR transaction and the Eide Bailly and Reverence Capital transaction, both announced in June 2026 with expected Q3 2026 closes, will add two more firms to the PE column and likely accelerate their revenue once sponsor-funded acquisitions begin, per Accounting Today (June 2026), reported, verify. The Schellman recapitalization by Goldman Sachs Alternatives, announced March 2026 with a Q2 2026 close, moves a second sponsor onto that firm. On the network side, the RSM US and RSM UK transatlantic combination effective January 1, 2026 creates a roughly $5 billion combined entity, though the US member firm figure we rank will continue to be reported separately, per RSM.

The next IPA Top 100 and Top 500 release, expected in August 2026 on FY2025 results, will be the primary refresh trigger for this tracker, alongside the Accounting Today 2026 Top 100. We will also be watching the independent partnerships most often named as recap candidates in sector reporting, including CLA, Plante Moran, and Withum, each of which has publicly affirmed independence but each of which sits in the revenue band where sponsors have been most active. Any confirmed transaction there moves a firm from the partnership column to the PE column and is cross-referenced to the PE roll-up report.

Methodology and limitations

The controlling rankings are the INSIDE Public Accounting (IPA) Top 100 and Top 500 and the Accounting Today Top 100 Firms, both of which rank by US net revenue and both of which publish on the prior fiscal year, so the 2025 editions reflect largely FY2024 results. For the Big 4 we cross-check against each firm’s US transparency report and facts-and-figures page; for the national and regional tier we use the rankings plus each firm’s own revenue releases and the deal announcements for PE-backed firms. Where IPA and Accounting Today disagree on a firm’s revenue, the gap is almost always a net-revenue-basis difference, with IPA running slightly higher, and we use the IPA figure as the spine while noting the Accounting Today number.

The choice of US over global figures is deliberate. The Big 4 report global revenue prominently (Deloitte at $70.5 billion, PwC at $56.9 billion, EY at $53.2 billion, KPMG at $39.8 billion for their most recent years), but a global figure is not comparable to a US national firm, so the ranking uses the US member firm revenue throughout, with global shown only for context. The same discipline applies to the network firms below the Big 4: Grant Thornton’s roughly $8.5 billion, Forvis Mazars’ roughly $5.7 billion, and Crowe’s roughly $6.5 billion are global network totals, and the figures we rank are the US firm only.

Self-reported private data is the largest limitation. Most firms in the top 30 are private partnerships or PE-backed entities that report revenue to the ranking bodies without an external audit of that disclosure. US headcount and US partner counts are the least reliable fields: the Big 4 publish headcount globally rather than by country, and most mid-tier firms do not publish a consistent partner count, so several entries are marked “reported, verify.” PE-backed revenue at recap is the figure in the deal announcement, which may predate the firm’s most recent fiscal year. The tracker is refreshed annually as the IPA and Accounting Today rankings and the Big 4 transparency reports publish; interim deal announcements are added as they close.

How to cite this tracker

Cite as: The Ledgerism Brief, “Accounting Firm Size Tracker”, ledgerism.net/accounting-firm-size-tracker/, as of June 2026. For bulk data, the underlying figures, or a machine-readable version of the table, contact research@ledgerism.net. If you are reproducing a single figure, please carry the underlying source attribution (for example, “per the 2025 IPA 500”) rather than citing this tracker alone, so the chain back to the transparency report or ranking stays intact.