For corporate leaders that find themselves between the rock and the hard place, the great philosopher Warren Zevon had the best advice: “Send lawyers, guns and money. The shit has hit the fan.”
In 2025, Texas lawyers were the hired guns advising businesses on tariffs, artificial intelligence disruptions, One Big Beautiful Bill and massive regulatory changes — work that paid them a lot of money.
Never in history have Texas corporate lawyers worked so many hours, charged such enormous rates and raked in more revenue and profits than they are right now.
The Texas offices of more than three dozen law firms scored record-high revenues in 2025 — and many of them surpassed their old records by tens of millions of dollars, according to new Texas Lawbook 50 data.
Citing increased demand for legal services and healthy hourly rate increases, 47 of the Lawbook 50 law firms generated more revenue and more profits in their Texas operations in 2025 than they did in 2024.
Texas Lawbook 50 shows that lawyers at the top 50 firms operating in the Lone Star Statecollected $11.54 billion in 2025 — a 13.9 percent increase from 2024, which was itself a record year.
By comparison, Lawbook 50 total revenue in 2018 was $5.98 billion.
Just five years ago, profits per partner at law firms in Texas ranged from $2 million to $5 million. In 2025, Texas Lawbook 50 data shows that profits per partner in Dallas and Houston now average $3.5 million to $8 million and elite firms are topping $10 million.
As retired Gibson Dunn partner Rob Walters said in an interview late last year, “Texas is the place to be a business lawyer.”
“The Golden Age for corporate law in Texas is now,” he said.
Most law firm leaders agree with Walters.
“We had record-setting double-digit growth across the board,” said Scott Barnard, managing partner of the Dallas office of Akin. “Practices involving M&A, private capital and capital solutions were very strong. The Texas data center work is just exploding.”
Dallas-based Akin saw its 2025 Texas revenue jump 15.4 percent to $279.2 million.
Breen Haire, the co-managing partner of Simpson Thacher’s Houston office, said 2025 was extraordinary.
“We have wonderful tailwinds in Texas in energy and infrastructure,” said Haire. “It has been an amazing ride with the growth in AI and the need for power. The growth in demand for our services has been so steady.”
Simpson Thacher had a monster financial year, with revenue from its Texas lawyers soaring 34 percent from 2024 to $186.8 million.
Dozens of their competitors reaped similarly huge financial rewards last year.
“I’ve never seen so many good things coming together at the same time, but 2025 was the firm’s best year ever,” said Joe Coniglio, managing partner of the Dallas office of Greenberg Traurig. “Business litigation has never been busier. Commercial real estate really picked up in the second half of 2025. Private equity and M&A work have seen big growth. And we are seeing more companies interested in setting up operations in Texas.”
Greenberg Traurig saw its 2025 revenue increase 26.4 percent to $198 million.
‘Law Firms Keep on Trucking’
Kirkland & Ellis not only maintained the No. 1 spot on the Lawbook 50 leaderboard, but expanded its lead.
Texas lawyers for Kirkland, which has offices in Austin, Dallas and Houston, generated $1.39 billion in 2025 — $240 million or 21 percent more than the prior year. By comparison, Vinson & Elkins and Norton Rose Fulbright, the second- and third-ranked law firm giants by revenue — both of which achieved record revenues and profits in 2025 — reported $1.26 billion combined.
The two Houston-headquartered giants, V&E and Baker Botts, reported strong revenues in 2025.
Despite its Texas headcount declining by four percent, V&E grew Texas revenue by $34.6 million to a record $669.7 million.
“Last April and May, we were all worried about how the rest of the year would go, but Q3 really picked up and Q4 was even stronger,” said V&E chair Keith Fullenweider. “Q1 of this year is up substantially. There is still so much growth opportunities in data center work and AI and the power industry. I think it is bigger than the shale boom.”
Baker Botts ranks fifth in the Lawbook 50 for Texas revenue at $447.6 million — a 10 percent jump from 2024.
“2025 was an outstanding year — an historic year of growth,” said Danny David, managing partner of Baker Botts. “The growth came as a result of our investment in our platform. There are so many incredible things happening in the Texas markets that we serve.”
David said the firm’s strengths — energy and technology — are the sweet spots for growth in Texas.
“Many clients are looking for new ways to take advantage of AI and technology, and technology is looking to energy,” he said. “Those leaders are turning to Baker Botts for its expertise.”
Legal industry insiders agree that 2025 was one of the best years ever for Texas business lawyers.
“Most firms in Texas had really good years in 2025, and some had really great years,” said Kent Zimmermann, a law firm consultant for Zeughauser Group. “Some firms posted some really big revenue records. That’s not only because rates were up but same-store sales or demand was up significantly, too.”
“The legal industry is nothing if not resilient,” Zimmermann said. “We had a mixed economy in 2025, a mixed geopolitical environment, the whole tariffs situation — and still, law firms keep on trucking.”
Lawbook 50 by the Numbers
Texas Lawbook 50, which calculates law firm revenue generated by their Texas lawyers, found:
- Twenty-nine of the top 50 increased revenue by double-digits;
- Thirteen of the top 50 grew revenue by 20 percent or more;
- Five law firms — Norton Rose Fulbright, DLA Piper, Simpson Thacher, O’Melveny & Myers and Polsinelli — increased Texas revenue by 30 percent or more and Susman Godfrey at 29.3 percent;
- O’Melveny achieved the largest revenue increase by percentage at 41.4 percent;
- Norton Rose Fulbright and Jackson Walker joined Kirkland and V&E as firms with Texas operations generating $500 million or more in a year;
- Eight of the top 20 law firms — V&E, Jackson Walker, Baker Botts, Haynes Boone, Winstead, Akin, Susman Godfrey and Bracewell — ranked by revenue are headquartered in Texas;
- Only three corporate law firms — Holland & Knight, Clark Hill and Morgan Lewis — witnessed a decline in 2025 revenue in Texas, and each of those revenue declines was less than two percent;
- Two firms — DLA Piper and Paul Hastings — joined 17 other firms achieving $200 million or more in revenue in Texas; and
- A&O Shearman is the only new firm to join the Lawbook 50, reporting $101 million in Texas revenue — up 18.8 percent from 2024.
“2025 was by far the strongest year financially for the Houston office of White & Case since we opened in 2018,” said Jay Cuclis, the firm’s Houston managing partner. “We have focused on energy in the broadest sense.”
White & Case saw its Texas revenue jump 16 percent in 2025 to $139.3 million.
Cuclis said that while recent events in the Middle East are having a “negative impact” by putting certain projects on hold, “2026 demand continues to be strong.”
“We see increased activity in LNG, but the uncertainty in oil prices make it hard to buy and sell assets,” he said.
Baker Hostetler is one of those corporate law firms that has experienced extraordinary growth in its Texas offices during the past several years — going from $50 million in 2018 to $158 million in 2025.
“We built out the Texas triangle,” said Shawn Cleveland of Baker Hostetler. “Dallas is such a white-hot growth market with tax, transactional, cyber, litigation, automotive work and employment. Houston is incredibly strong in energy transactions and litigation and international trade. And opening our office in Austin has been a home run.”
“2026 is looking just as good with so much middle-market work and the private equity practice is strong,” he said. “I see nothing but continued strong growth in North Texas and throughout Texas.”
About Texas Lawbook 50
The Texas Lawbook 50 is the result of multiple efforts, including direct survey responses from about 70 law firms operating in Texas regarding their headcount, total revenues, revenues per lawyer and profits per equity partner. Most firms provided the requested data. Other law firms provided simple lawyer headcount and RPL, which were used to calculate Texas revenues. The Lawbook also used other sources, including interviews with key partners, former partners, legal industry analysts, as well as data from publications such as American Lawyer and other third-party sources that collect and analyze firm revenues.