Deloitte earlier this week reported its global revenues for FY2024. Global revenues rose to $67.2 billion, an increase of 3.6% in dollar terms.
Its press release noted the following:
Deloitte is leveraging its expertise in AI to drive digital transformation
Partnerships and Recognition: Strategic collaborations with top tech companies like Google Cloud, AWS, and NVIDIA have positioned Deloitte as a leader in AI solutions
Deloitte’s sustainability services is helping clients navigate climate challenges
Deloitte Operate services support clients in modernizing key business functions
Deloitte’s revenues from FY2012 to FY2024 for each region is reflected in the chart. From the chart its clear that post FY2021, Deloitte US revenues shows a spike mostly led by consulting revenues. In its press release, Deloitte notes that Tax & Legal revenue grew fastest at 8.7% in local currency followed by Audit & Assurance at 4.1%. Surprising that audit grew faster than advisory in FY2024. Among the regions, EMEA grew fastest at 8.5% followed by Americas at 1.4%.
Deloitte Regional Revenue Growth (FY2012 – FY2024)
Deloitte revenue growth has considerably slowed when compared to prior years highlighting the general slowdown in the economy. FY22 was the best year for Deloitte with a growth rate of 18%.
| Fiscal Year | Revenue Growth (%) |
|---|---|
| FY2013 | 3.5% |
| FY2014 | 5.6% |
| FY2015 | 2.9% |
| FY2016 | 4.5% |
| FY2017 | 5.4% |
| FY2018 | 11.3% |
| FY2019 | 6.9% |
| FY2020 | 3.0% |
| FY2021 | 5.5% |
| FY2022 | 18.1% |
| FY2023 | 9.4% |
| FY2024 | 3.5% |
Break-up of revenues by business units shows the consulting services being the substantial driver for growth.
| Year | Audit | Enterprise Risk Services | Financial Advisory | Consulting | Tax | Total |
|---|---|---|---|---|---|---|
| FY2012 | 10.1 | 2.9 | 2.7 | 9.7 | 5.9 | 31.3 |
| FY2013 | 10.0 | 3.1 | 2.8 | 10.4 | 6.1 | 32.4 |
| FY2014 | 10.1 | 3.2 | 3.0 | 11.4 | 6.5 | 34.2 |
| FY2015 | 9.8 | 3.5 | 3.1 | 12.2 | 6.7 | 35.3 |
| FY2016 | 9.4 | 4.1 | 3.3 | 13.1 | 6.9 | 36.8 |
| FY2017 | 9.4 | 4.5 | 3.4 | 14.3 | 7.3 | 39.0 |
| FY2018 | 10.2 | 5.0 | 3.6 | 16.5 | 7.9 | 43.2 |
| FY2019 | 10.2 | 5.3 | 3.8 | 18.7 | 8.3 | 46.3 |
| FY2020 | 9.9 | 5.6 | 3.8 | 19.8 | 8.7 | 47.8 |
| FY2021 | 10.5 | 5.9 | 4.3 | 20.8 | 8.9 | 50.4 |
| FY2022 | 11.4 | 7.0 | 5.3 | 25.8 | 9.9 | 59.4 |
| FY2023 | 12.3 | 7.8 | 5.1 | 29.6 | 10.3 | 65.1 |
| FY2024 | 12.8 | 8.05 | 5.29 | 30.01 | 11.0 | 67.20 |
