Amazon vs Walmart Business Model (2026)
Amazon earns most from North America (59.5%), while Walmart earns most from Walmart U.S. (68.1%). Computed from Amazon 10-K FY2025 and Walmart 10-K FY2026.
Last checked 2026-10-18 on the official pages.
Amazon
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| North America | $426,305 million ($426.3 billion) | 59.5% | 10-K FY2025 ↗ |
| International | $161,894 million ($161.9 billion) | 22.6% | 10-K FY2025 ↗ |
| Amazon Web Services | $128,725 million ($128.7 billion) | 18.0% | 10-K FY2025 ↗ |
| Total revenue | $716,924 million ($716.9 billion) | — | 10-K FY2025 ↗ |
Walmart
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Walmart U.S. | $485,599 million ($485.6 billion) | 68.1% | 10-K FY2026 ↗ |
| Walmart International | $131,988 million ($132.0 billion) | 18.5% | 10-K FY2026 ↗ |
| Sam’s Club U.S. | $95,540 million ($95.5 billion) | 13.4% | 10-K FY2026 ↗ |
| Total revenue | $713,163 million ($713.2 billion) | — | 10-K FY2026 ↗ |
Shared business models
Company and model pages
Amazon: Cloud usage · Marketplace · Retail margin
Walmart: Membership warehouse · Retail margin
Frequently asked questions
How does Amazon make money?
Amazon makes money mainly from North America. Its FY2025 total revenue was $716,924 million ($716.9 billion), with North America the biggest disclosed revenue line at $426,305 million ($426.3 billion) and 59.5% of total revenue (computed from the 10-K FY2025). Amazon combines retail product sales with seller services, cloud services, advertising, and subscriptions.
How does Walmart make money?
Walmart makes money mainly from Walmart U.S.. Its FY2026 total revenue was $713,163 million ($713.2 billion), with Walmart U.S. the biggest disclosed revenue line at $485,599 million ($485.6 billion) and 68.1% of total revenue (computed from the 10-K FY2026). Walmart supplements its retail business with fees from membership offerings.