Which state was listed for Walmart on the 2025 Fortune 500?

Walmart was listed in Arkansas on the 2025 Fortune 500.

The Fortune 500 identifies Walmart with Arkansas because the company’s headquarters are in Bentonville, in the northwest part of the state. Walmart ranked first on the 2025 list, based on fiscal-year 2024 revenue, ahead of Amazon and UnitedHealth Group.

Sam Walton opened the first Walmart store in Rogers, Arkansas, in 1962. The company grew from a discount retailer into the world’s largest retailer by revenue, with supercenters, neighborhood markets, wholesale operations, e-commerce, and a major international presence. Bentonville remains central to Walmart’s corporate identity and business operations.

Readers sometimes confuse a company’s headquarters state with the state where it was founded, where it has the most stores, or where its incorporation documents are filed. In this question, Arkansas refers to the Fortune 500 listing’s company location. Walmart’s prominence also makes Arkansas an unusual entry on a list dominated by companies headquartered in large coastal or Texas metropolitan areas.