Walmart reported the largest annual revenue of any company in the Fortune Global 500 in 2024.
Walmart’s fiscal 2024 revenue was approximately $648.1 billion, placing it at the top of Fortune’s 2024 Global 500 ranking. The ranking is based on total revenue for the companies’ latest completed fiscal years, not on market capitalization.
The distinction is important because the world’s richest companies by market value are often technology or energy businesses, while Walmart’s enormous revenue reflects its vast retail operations. The company operates department stores, supermarkets, warehouse clubs, and e-commerce businesses in numerous markets.
Walmart was founded by Sam Walton in 1962, when he opened the first Walmart store in Rogers, Arkansas. It later became the world’s largest company by revenue, although its market capitalization ranking can differ substantially from its revenue ranking because investors value profitability, growth, assets, and future expectations as well as sales.