The 30 top law firms in Portugal
The Portuguese leaders of the legal market show a slower, but steady revenue growth in 2025, according to Iberian Lawyer’s estimates
by glória paiva
Slower growth, more consolidation: 2025 confirmed a Portuguese legal market still expanding, but increasingly selective, tech-driven and competitive. In a context marked by heightened macroeconomic volatility and international uncertainty, the Portuguese legal market tracked the evolution of the national economy, albeit at a moderate pace: in 2025, GDP grew by 1.9% in real terms, following a 2.2% expansion in 2024, according to data from the National Statistics Institute (INE).
This slowdown did not, however, prevent law firms from continuing to invest in innovation and talent. Across the year, initiatives linked to the adoption of artificial intelligence-based solutions increased significantly, while 2025 became a record year for partner moves and appointments in Portugal (click to read), with partner hires increasing by 39.4% compared with 2024.
Sources interviewed by Iberian Lawyer agree that the legal market overall posted positive, albeit more restrained, growth than in the previous year. This more moderate performance partly reflects the developments in the transactional market, which was characterised by a lower number of large-scale deals, despite a 28% increase in deployed capital (click to read).
As every year, Iberian Lawyer compiles estimates based on confidential interviews and indicators such as hiring trends, partner promotions, and activity across areas including M&A, venture capital, private equity, and asset acquisitions.
In 2025, according to these estimates, the 30 largest law firms generated at least €707.97 million in aggregate revenue, compared with €669.22 million in 2024 — representing growth of 5.8%. While still positive, this marks a clear moderation compared with the previous year and a normalisation relative to the stronger growth cycles seen in recent years. In 2025, women partners across the 30 highest grossing Portuguese law firms accounted for 35.4% of the total partner population, with 246 women out of 694 partners. This marks the first time this data has been gathered, offering a new benchmark for assessing gender diversity in the Portuguese legal market.
THE PODIUM
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