Amazon Tops Fortune Global 500 with $717 Billion Sales, Ending Walmart's 12-Year Reign
Amazon surpassed Walmart to claim the top spot on the latest Fortune Global 500, ending Walmart's 12-year run as the world's largest company by revenue. Amazon reported 2025 full-year sales of $717 billion. Walmart's fiscal 2026 revenue reached $713.2 billion, up 4.7% year-on-year, or $715.9 billion excluding currency effects, up 5.1%. Adjusted operating profit rose 5.4% to $31.1 billion. Costco ranked 20th, while Tesco and Carrefour placed 105th and 106th, respectively.
The latest Fortune Global 500 ranking shows Amazon surpassing Walmart to take the global top spot, with Walmart dropping to second place, ending the latter's 12-year consecutive lead.
In its fiscal 2026 (February 1, 2025 to January 31, 2026), Walmart generated total global revenue of $713.2 billion, equivalent to approximately RMB 4,927.3 billion, up 4.7% year-on-year. Excluding the impact of currency fluctuations, total revenue was $715.9 billion, up 5.1%. During the same period, full-year adjusted operating profit was $31.1 billion (approximately RMB 214.9 billion), up 5.4%. Amazon previously disclosed that its full-year 2025 sales were $717 billion, surpassing Walmart in revenue size.
In this year's Fortune Global 500 list, Costco ranked 20th, roughly unchanged from the previous year. Tesco and Carrefour placed 105th and 106th, respectively, both slightly higher than their 2025 rankings.
Why this event matters
The event has a measured impact on 3 industrys. The strongest current signal is positive for Domestic E-commerce, with intensity 60/100 and 85% confidence over a medium term horizon.
Domestic E-commerce
- Direction
- positive
- Intensity
- 60
- Confidence
- 85%
- Horizon
- Medium term
Physical Retail
- Direction
- negative
- Intensity
- 50
- Confidence
- 80%
- Horizon
- Medium term
Cross-border E-commerce
- Direction
- positive
- Intensity
- 50
- Confidence
- 80%
- Horizon
- Medium term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.