Kirkland & Ellis will no longer disclose its annual financial performance to the media, according to a letter the firm sent to a publication.
First reported by the Financial Times, the letter told The American Lawyer, which publishes the profession's flagship ranking of law firms' revenue and profits, that as of 2026 it would stop sharing the information as it did not provide “meaningful value” to clients. It added that including it in the rankings “could incentivise quantitative metrics over qualitative strengths”.
Kirkland's decision extends to other media outlets reporting on the business of law, according to Bloomberg Law.
It comes at a time of rocketing pay for top lawyers, with some earning tens of millions of dollars annually. Kirkland, which has for some years been the world's highest-grossing law firm, grew revenue to $10.6bn in 2025 and average profit per equity partner (PEP) to $11.1m, up 20% on the year before.
That could potentially irk the firm's corporate clients, the FT reported, with Kirkland's leadership also concerned that the reported figure of average PEP does not take account for the wide variation in pay at the firm.
The move follows Kirkland breaking with tradition last year when it chose to not publicly announce its annual partner promotions round, reportedly due to negative attention drawn by some lawyers leaving the firm soon after being promoted to its expansive non-equity partner tier. The firm, which generally announces partner promotions in early October, has also not yet made an announcement for its round this year.
Kirkland is not alone in deciding to no longer disclose its financial results. Wachtell Lipton Rosen & Katz and Slaughter and May – both of which are general partnerships that are not required to disclose their figures – also do not share their numbers with the media.
Since 2024 Freshfields has also no longer announced its financial results, though, as a UK LLP, some of its metrics are still publicly available as the firm is required to file accounts at Companies House.
The American Lawyer relies on law firms voluntarily submitting their figures to produce its ranking. Editor David Gialanella told the FT in a statement that in "rare" instances where a firm does not disclose the information, it employs “rigorous reporting methods."
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