Amazon Ends Walmart's 13‑Year Hold On The S&P 500 Revenue Crown — But There's A Catch

Amazon surpassed Walmart as the top American company by revenue in 2025 with $717 billion, ending Walmart's 13-year reign. However, $129 billion of Amazon's revenue came from AWS cloud services, meaning Walmart remains the largest retailer by retail revenue alone. Amazon's revenue grew 12% year-over-year while Walmart's grew 5%.