Key Highlights
- Amazon’s 2025 revenue reached $716.9B, surpassing Walmart’s $713.2B to claim the #1 spot among U.S. companies.
- Walmart maintained leadership since 2001; Amazon achieved 12.4% revenue growth compared to Walmart’s 4.7%.
- Amazon Web Services delivered 20% growth, contributing 18% to overall company revenue.
- Amazon forecasts 11-15% expansion for the upcoming quarter; Walmart projects 3.5-4.5% growth.
- AI-powered shopping features are driving results at both retailers; Walmart reports 35% higher spending from AI tool users.
For the first time in history, Amazon has dethroned Walmart as the largest U.S. company measured by annual revenue. Amazon’s fiscal 2025 results showed $716.9 billion in total sales, edging past Walmart’s $713.2 billion for its latest fiscal period.
Walmart’s reign began in 2001 after overtaking Exxon Mobil. For 25 consecutive years, the retail giant maintained its position at the summit.
While the dollar difference between the two appears minimal, examining their expansion trajectories reveals the shifting dynamics. Amazon achieved 12.4% year-over-year growth compared to Walmart’s 4.7% increase.
Amazon’s Path to the Summit
Amazon’s journey to becoming America’s revenue leader stems from diversification beyond traditional retail operations. Walmart continues generating approximately 90% of sales through physical locations and e-commerce, whereas Amazon leverages multiple revenue streams.
Amazon Web Services delivered impressive 20% expansion and currently represents 18% of consolidated revenue. Additional income sources include marketplace seller commissions, digital advertising platforms, and logistics services.
The e-commerce giant committed $4 billion toward constructing same-day fulfillment centers throughout rural communities. Last year alone, same-day grocery delivery expanded into over 2,300 additional municipalities. According to company figures, 100 million shoppers utilized same-day delivery options during 2025.
Amazon’s domestic retail footprint now commands approximately 9% market share, climbing from roughly 6% pre-pandemic levels. Walmart maintains about 7.6% share, remaining relatively stable during the comparable timeframe.
Walmart’s Strategic Response
Walmart brought same-day delivery capabilities to 95% of American homes while significantly expanding third-party marketplace offerings. Recent data from a December 2025 Dunnhumby study indicates 72% of U.S. households purchased groceries from Walmart within the previous month — representing a 6 percentage point increase year-over-year.
Behind the scenes, Walmart leadership anticipated this milestone. The organization quietly removed “Fortune 1” references from recruiting materials and repositioned its brand messaging around becoming “America’s favorite place to shop.”
During Thursday’s earnings call, CEO John Furner stated: “The future is fast, convenient and personalized.”
Both retail powerhouses have implemented AI-driven shopping assistance technology. Walmart data shows customers engaging with its AI platform generate approximately 35% higher average order values.
Looking Forward
Amazon shuttered multiple physical grocery locations in recent months but announced upcoming Whole Foods market openings. Plans include a major-format retail location outside Chicago featuring groceries, apparel, and household merchandise — essentially mirroring Walmart’s traditional store concept.
Walmart’s guidance calls for 3.5-4.5% net sales growth in the coming quarter. Amazon projects 11-15% expansion during the same period.
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