Amazon Tops Fortune 500 with $716.9B Revenue, Walmart Shares at 45x EPS
Walmart reported $713.2 billion in fiscal year revenue, up 4.7%, while Amazon generated $716.9 billion, dethroning Walmart at the top of the Fortune 500. U.S. e-commerce revenue climbed 27% and global online sales rose 24% last quarter, but shares trade at 45x fiscal 2027 EPS guidance, suggesting valuation risk.
1. Fortune 500 Ranking Shift
Walmart’s $713.2 billion in fiscal revenue represented a 4.7% increase year-over-year, but fell short of Amazon’s $716.9 billion haul, knocking Walmart from its long-held top position on the Fortune 500.
2. E-commerce Sales Momentum
In the most recent quarter, U.S. e-commerce sales surged 27% and global online revenue climbed 24%, driving digital sales to 23% of Walmart’s U.S. total, a new record share for the retailer.
3. Valuation and Market Reaction
Despite robust growth, Walmart shares trade at 45x fiscal 2027 EPS guidance and recently surpassed a $1 trillion market valuation after doubling over two years, raising concerns that current pricing leaves scant room for execution missteps.