Largest US companies by revenue: Amazon edges out Walmart

The largest US companies by revenue are Amazon.com, Inc. ($716.9 billion in FY2025) and Walmart Inc. ($713.2 billion in the fiscal year ended 31 January 2026), with Apple Inc., McKesson Corporation, Alphabet Inc. and CVS Health Corporation all above $400 billion. The gap between the top two is $3.8 billion, less than one percent of either company's revenue.

We are Clarifo, a financial data service whose figures for US, Finnish and Swedish listed companies come from the companies' own filings. The ranking below uses each company's latest fiscal year reported in a 10-K as of 28 October 2026, which is FY2025 for companies with a calendar year. Banks and insurance groups are excluded, because their revenue is mostly interest and premiums and is not comparable with the sales of an operating company.

The 20 largest US companies by revenue in their latest fiscal year

The table ranks US-listed operating companies by total revenue in their latest fiscal year, with the fiscal year end for each company.

Source: each company's Form 10-K for the fiscal year shown, total revenue line (net sales for Home Depot, sales for Kroger), USD, rounded to one decimal from reported USD million; data as of 2026-10-28.¹² Operating companies only; banks and insurance groups excluded.

Marathon Petroleum Corporation (MPC, NYSE) is next, at $132.7 billion in FY2025, just below Micron. Health insurers and financial groups would otherwise take six places in the top 20: UnitedHealth Group, Berkshire Hathaway, The Cigna Group, Elevance Health, Centene and JPMorgan Chase all report total revenue above Micron's.

Why fiscal year ends matter in a revenue ranking

Eleven of the 20 companies have a fiscal year that does not end on 31 December, so "FY2025" does not mean the same months for everyone. Walmart's fiscal 2026 ran from February 2025 to January 2026; Microsoft's fiscal 2026 ended on 30 June 2026; Costco's ended on 30 August 2026. The Home Depot calls the year ended 1 February 2026 its fiscal 2025 in its fiscal 2025 10-K, while Walmart calls a year ending the day before its fiscal 2026.²

We use the latest full year each company has filed, so that the ranking reflects each company's current size. The trade-off is that the periods overlap but do not match. Apple and Cencora, whose fiscal years end in late September, appear with the years ended 27 September 2025 and 30 September 2025, their latest years reported in a 10-K on 28 October 2026.

What the top 20 says about the US economy

Revenue rankings favour companies that pass large volumes of goods through their books. Three groups make up most of the list.

The distributors show why revenue is a measure of size, not profitability. McKesson's FY2026 operating income was $6.2 billion on $403.4 billion of revenue, an operating margin of 1.5 percent in our data, while Alphabet earned operating income of $129.0 billion on revenue of $402.8 billion in FY2025.¹

How we verified the largest US companies by revenue

We ranked US operating companies by revenue in our data, then checked each of the 20 figures against the company's 10-K, such as Amazon's FY2025 10-K and Walmart's FY2026 10-K: the revenue line in the income statement data that comes with the filing, or the revenue table in Item 7 (Management's Discussion and Analysis) where we read it from the text. Each figure links to the filing it came from. Three limits apply:

• Revenue lines differ. Most companies report total revenue or net sales; Exxon Mobil and Chevron report total revenues as tagged Revenues in their 10-K data, and Ford's consolidated revenues, in Item 7 of its FY2025 10-K, include its Ford Credit financing arm.

• Revenue is not market value. Several companies lower in the table are valued more highly than some above them.

• Group revenue is global. The figures include sales outside the United States.

The same ranking can be run for operating income, margins or growth on our company pages, through the Data API, or in Claude and ChatGPT with our read-only MCP server; see how to use Clarifo in Claude for company research. A prompt to start from: