Amazon Surpasses Walmart as World's Top Company in Sales

E-commerce giant overtakes retail giant in annual revenue for the first time in 13 years.

Published on Feb. 23, 2026

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Amazon has surpassed Walmart as the world's top company in sales, reporting $716.9 billion in revenue for 2025 compared to Walmart's $713.2 billion. This marks the first time in 13 years that Amazon has topped Walmart in annual sales, as consumer spending has continued to shift more toward online shopping.

Why it matters

The shift in the world's top company in sales from the long-reigning retail giant Walmart to the e-commerce powerhouse Amazon reflects the broader transformation of consumer behavior and the growing dominance of online shopping over traditional brick-and-mortar retail.

The details

While Walmart's total revenue jumped 4.7% compared to 2024, around 90% of its sales still came from physical stores and online. In contrast, most of Amazon's $716.9 billion in revenue, around $464 billion, came from online and physical store sales. Amazon's revenue has increased almost 10 times that of Walmart over the past decade as consumer spending has continued to shift toward more online browsing and purchases.

  • Amazon reported its fourth-quarter results in early February 2026.
  • Walmart reported its annual revenue for the most recent fiscal year on February 23, 2026.

The players

Amazon

An American e-commerce and cloud computing company that has grown significantly since its founding in 1994, now holding several subsidiaries including Amazon Web Services, Ring, Twitch, Amazon Prime Video, and Amazon MGM Studios.

Walmart

An American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.

Andy Jassy

The CEO of Amazon, who has said the company expects its workforce to shrink in the coming years as AI becomes more integrated.

John David Rainey

The Executive Vice President at Walmart, who announced the company's approval of an annual cash dividend increase for fiscal 2027.

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What they’re saying

“Dividends continue to be a part of our diversified capital returns approach. We're proud to be increasing our annual dividend for the 53rd consecutive year. This decision is a proof point of our continued confidence in our business performance and forward momentum.”

— John David Rainey, Executive Vice President, Walmart (kxan.com)

“We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs.”

— Andy Jassy, CEO, Amazon (kxan.com)

What’s next

Amazon is expected to continue its push towards greater integration of AI, which could lead to further workforce reductions, while Walmart will likely focus on maintaining its dividend growth and physical store presence alongside its e-commerce operations.

The takeaway

The shift in the world's top company in sales from Walmart to Amazon underscores the profound impact of the rise of e-commerce and online shopping, which has transformed consumer behavior and the retail landscape over the past decade.