2026 Am Law 100: Aggregate revenue hits $178.95 billion as Kirkland and Wachtell set new records

Aggregate gross revenue across the Am Law 100 climbed 13.0% to $178.95 billion for fiscal year 2025. Average profits per equity partner rose 14.0% to $3.59 million. Kirkland & Ellis became the first law firm to surpass $10.5 billion in annual revenue (posting $10.556 billion, up 19.93%), and Wachtell, Lipton, Rosen & Katz became the first firm to break the $12 million PEP threshold, reporting $12.152 million. Revenue per lawyer across the Am Law 100 rose 8.7% to $1.39 million, and 62 firms surpassed $1 billion in revenue, up from 58 the prior year. Only two Am Law 100 firms reported PEP declines, demonstrating the breadth of the profit expansion.