A Guide To Our Methodology

Measuring Up
The profitability index is the ratio of profits per equity partner to revenue per lawyer. It measures a firm's success in converting revenue into profit and allows comparisons between firms with different leverage ratios. Leverage is the ratio of all lawyers to equity partners; profit margin is the ratio of equity partner net revenue to gross revenue. Firms that tied are listed alphabetically.

Profitability Index
Rank Firm Profitability Index Leverage Profit Margin
1 Robins, Kaplan, Miller & Ciresi 2.35 3.49 67
2 Cahill Gordon & Reindel 2.13 3.83 56
3 Cravath, Swaine & Moore 2.03 4.30 47
4 Skadden, Arps, Slate, Meagher & Flom 2.00 4.77 42
5 Kirkland & Ellis 1.97 5.17 38
6 Milbank, Tweed, Hadley & McCloy 1.94 4.60 42
7 Simpson Thacher & Bartlett 1.85 4.20 44
8 Shearman & Sterling 1.84 4.94 37
9 Brobeck, Phleger & Harrison 1.78 4.96 36
10 Davis Polk & Wardwell 1.77 3.88 46
11 Swidler Berlin Shereff Friedman 1.74 4.74 37
11 Debevoise & Plimpton 1.74 4.49 39
13 Baker & McKenzie 1.71 4.81 36
14 Wilson Sonsini Goodrich & Rosati 1.68 6.11 28
15 Sullivan & Cromwell 1.64 3.90 42
16 Dewey Ballantine 1.60 4.19 38
16 Kelley Drye & Warren 1.60 5.08 31
18 White & Case 1.59 5.33 30
19 Cadwalader, Wickersham & Taft 1.58 4.62 34
20 King & Spalding 1.56 3.89 40
21 Fried, Frank, Harris, Shriver & Jacobson 1.54 3.65 42
21 Goodwin Procter 1.54 4.39 35
23 Cooley Godward 1.53 4.52 34
24 Paul,Weiss, Rifkind, Wharton & Garrison 1.52 4.18 36
24 Proskauer Rose 1.52 3.74 41
24 Weil, Gotshal & Manges 1.52 4.41 34
24 Willkie Farr & Gallagher 1.52 3.53 43
28 Bingham Dana 1.50 5.73 26
29 Schulte Roth & Zabel 1.50 4.43 34
30 Cleary, Gottlieb, Steen & Hamilton 1.49 3.79 39
30 Jones, Day, Reavis & Pogue 1.49 4.46 33
32 Latham & Watkins 1.47 3.30 44
32 Wachtell, Lipton, Rosen & Katz 1.47 2.03 73
34 Shook, Hardy & Bacon 1.45 5.89 25
35 Alston & Bird 1.43 3.67 39
36 McDermott, Will & Emery 1.42 3.12 45
36 Winston & Strawn 1.42 4.68 30
38 Howrey Simon Arnold & White 1.39 4.63 30
39 LeBoeuf, Lamb, Greene & MacRae 1.38 4.03 34
40 Morgan, Lewis & Bockius 1.37 4.34 31
41 Chadbourne & Parke 1.36 4.13 33
41 Squire, Sanders & Dempsey 1.36 4.08 33
43 Gibson, Dunn & Crutcher 1.35 3.01 45
44 Fenwick & West 1.34 3.82 35
45 Testa, Hurwitz & Thibeault 1.33 4.67 29
46 Dechert 1.31 3.18 41
47 Paul, Hastings, Janofsky & Walker 1.30 3.76 35
48 Brown & Wood 1.29 4.38 29
48 Hogan & Hartson 1.29 3.94 33
50 Hale and Dorr 1.26 2.95 43
51 Akin, Gump, Strauss, Hauer & Feld 1.25 3.92 32
51 Buchanan Ingersoll 1.25 5.05 25
51 O'Melveny & Myers 1.25 3.34 37
51 Orrick, Herrington & Sutcliffe 1.25 4.29 29
55 Shaw Pittman 1.24 3.40 37
56 Katten Muchin Zavis 1.23 4.22 29
56 Morrison & Foerster 1.23 4.19 29
56 Ropes & Gray 1.23 2.47 50
59 Kaye Scholer 1.21 3.34 36
60 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo 1.18 5.70 21
60 Piper Marbury Rudnick & Wolfe 1.18 3.72 32
62 Vinson & Elkins 1.17 2.46 48
63 Greenberg Traurig 1.16 3.27 36
63 Mayer, Brown & Platt 1.16 2.63 44
65 Sidley & Austin 3 1.15 4.13 28
66 Baker Botts 1.14 2.72 42
67 Stroock & Stroock & Lavan 1.11 3.05 37
68 Covington & Burling 1.10 2.87 38
69 Pillsbury Madison & Sutro 2 1.08 5.07 21
70 Thelen Reid & Priest 1.06 3.91 27
71 Arnold & Porter 1.05 2.56 41
71 Gray Cary Ware & Freidenrich 1.05 4.18 25
71 Hunton & Williams 1.05 3.06 34
74 Reed Smith 1.04 3.13 33
75 Kilpatrick Stockton 1.03 3.35 31
76 Jenkens & Gilchrist 1.02 3.82 27
76 Nixon Peabody 1.02 2.48 41
78 Bryan Cave 1.01 3.72 27
78 Fulbright & Jaworski 1.01 2.44 41
78 Holland & Knight 1.01 2.53 40
78 Seyfarth Shaw 1.01 2.53 40
82 Wilmer, Cutler & Pickering 1.00 3.24 31
83 Coudert Brothers 0.97 3.53 28
83 Kirkpatrick & Lockhart 0.97 3.08 32
85 Preston Gates & Ellis 0.95 2.43 39
86 Blank Rome Comisky & McCauley 0.94 2.41 39
86 Heller Ehrman White & McAuliffe 0.94 3.19 30
86 McGuireWoods 0.94 3.73 25
86 Pepper Hamilton 0.94 3.77 25
86 Womble Carlyle Sandridge & Rice 0.94 2.64 36
91 Duane, Morris & Heckscher 0.91 2.49 37
91 Foley & Lardner 0.91 2.48 36
91 Wilson, Elser, Moskowitz, Edelman & Dicker 0.91 4.07 22
94 Perkins Coie 0.89 3.37 27
94 Locke Liddell & Sapp 0.89 2.05 44
96 Dorsey & Whitney 0.88 2.35 37
97 Baker & Hostetler 0.86 3.30 26
98 Sonnenschein Nath & Rosenthal 0.82 3.78 22
99 Jenner & Block 0.77 2.04 38
100 Arter & Hadden 0.75 3.35 22

(The American Lawyer, July 2001)


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