Walmart is Now the Highest-Grossing U.S. Company

A 2024 study recently found that one major U.S. retailer is raking in a lot of cash, grossing over $648 billion in annual revenue for 2023.

2024 has been a weird year. We've seen many businesses close, while others seem to be doing quite well for themselves. Online United States Casinos recently took a deep dive into the highest revenue businesses throughout the United States, and I was not at all surprised by who made it to the top of the list. This company has been around for decades, and it seems recent economic hardships have had little impact on its operations and sales.

Walmart is the Highest-Grossing US Company

Getty Images

This data for this study was collected using Crunchbase, which provides company insights from early-stage startups to the Fortune 1000. The data revealed that Walmart is now the highest-grossing American company, encompassing 10,500 stores worldwide and over 4,500 in the U.S. alone. (According to Walmart, there are a total of 113 stores in Indiana.) Other high-grossing companies on the list included Amazon, which was just behind Walmart, followed by Apple, UnitedHealth Group, and then Berkshire Hathaway.

Get our free mobile app

How much has Walmart made in 2024?

Walmart reported a fiscal year 2024 gross revenue of $648 billion, which is a 6% increase over 2023. It's safe to say the company is doing very well finaicially, but much of that can likley be attributed to price increases. Since 2020, the company has drastically marked up prices due to inflation. For example, in 2020, I vividly remember paying $0.50 for a pack of Blue Bonnet Original Vegetable Oil Spread, which is now $1.28 a pack. That's a 156% increase.

Recently, the annual inflation rate dipped below 3%, the lowest it's been since 2021. In light of this, Walmart CEO Doug McMillon announced price cuts on 7,200 items, which is welcome news. I know my grocery bill could certainly use a break, and I'm sure yours could too. That said, the retailer has been accused of "price-gouging" in the past, so this could just be a way to quiet some angry shoppers. Either way, I'll take it. You can see Walmart's full Second Quarter Report HERE.