In a dramatic change that signals evolving consumer habits and corporate strategy, Amazon has surpassed Walmart to become the world’s largest company by annual sales, ending Walmart’s 13-year run at the top of the global revenue rankings.
According to financial disclosures from both companies, Amazon reported about $717 billion in sales for the calendar year 2025, while Walmart’s revenue for the fiscal year ending January 31, 2026 came in slightly lower at approximately $713 billion. Though the gap is relatively narrow roughly $4 billion it is historically significant. For more than a decade, Walmart with its sprawling physical store network and deep discounting held the title of the world’s biggest company by revenue, according to various global business rankings. But Amazon’s diversified business model has gradually reshaped its revenue mix beyond just its retail marketplace. This broader base allows Amazon to tap into higher margin sectors and offset slower growth in traditional retail, helping it outpace Walmart’s more concentrated retail revenue.
Despite being unseated at the top of the global sales rankings, Walmart remains an economic powerhouse. Walmart continues to invest in digital transformation and technology, even moving its stock listing to Nasdaq last year as part of signaling a stronger focus on innovation alongside its traditional retail roots. As a stock holder of both companies I've been happy with my returns over the years.
However, over the last 6months Walmart has returned much more capital at 23% vs Amazon's 10% decline. I'm taking a look at both of my holdings as I think I might sell some Walmart shares now that I'm up about $23/share. I have a longer term holding of Amazon that I think I'll hold on to since my cost basis is stilling with very comfortable margin for decline.