Am Law 100 FY 2025: Kirkland Breaks $10B, Wachtell Crosses $12M PEP
BY INSIDE PRACTICE · SEPTEMBER 3, 2026 · 1 MIN READ
The Am Law 100 full-year 2025 results — published earlier in 2026 — provide essential context for the current trajectory. Aggregate gross revenue hit $178.95B (+13%); revenue per lawyer reached $1.39M (+8.7%); and profits per equity partner averaged $3.59M (+14%). Kirkland & Ellis became the first firm in history to surpass $10B in revenue ($10.556B, +19.93%), while Wachtell Lipton crossed the $12M PEP threshold ($12.152M) — the first firm to do so. These benchmarks define the gravity at the top of the market and set the performance expectations against which H1 2026 and full-year 2026 results will be measured. The gap between Am Law 50 and Am Law Second Hundred performance — already visible in the H1 2026 surveys — mirrors the divergence that characterized 2025 full-year results.