Forvis Mazars reports 4% revenue increase in first full year under new structure

Accounting and consulting firm Forvis Mazars LLP, which has a regional office based in the Queen City, posted a 4% revenue increase in its first full year under a new name and structure.

The company's 2025 integrated report, released yesterday, points to approximately $2.24 billion in U.S. revenue during the fiscal year that ended May 31. Forvis Mazars was created through a partnership completed in summer 2024 between FORVIS LLP and Paris-based international audit, tax and advisory firm Mazars Group, according to past reporting. 

“Our first year as Forvis Mazars has been defined by bold moves, strategic growth and a shared commitment to delivering an unmatched client experience,” CEO Tom Watson said in a news release announcing the 2025 integrated report. "That momentum is driven by our people’s exceptional experience and energy, and their belief in what we’re building together. As we look ahead, we’re focused on continuing to grow with purpose and creating an environment where our people and clients will thrive."

The company's revenue growth was led by a 6.6% boost in its tax business, 5.1% jump in assurance and 1.5% increase in consulting. The firm saw the most growth in the areas of construction and real estate; private client; nonprofit, education and public sector; private equity; and technology and services.

With the change to Forvis Mazars, the company's U.S. headcount has increased by more than 1,000 employees to approximately 7,000.

This summer, Forvis Mazars ranked No. 10 on Inside Public Accounting's annual list of the top 500 firms by revenue, down from its No. 8 placement last year, according to past reporting.