AMZN vs WMT: Amazon.com, Inc. vs Walmart Inc. Historical Returns & Investment Comparison
This AMZN vs WMT comparison analyzes the historical stock performance of Amazon.com, Inc. and Walmart Inc. side-by-side. Using real, adjusted market data, this tool shows how identical investments in both stocks would have performed over time—highlighting differences in returns, volatility, and consistency across market cycles.
Use the interactive calculator below to adjust the investment amount and time period, visualizing how Amazon.com, Inc. and Walmart Inc. have historically performed against each other.
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Performance Summary
$10,000 invested from 1997 to 2025 (29 years)
Head-to-Head Record
Over the 29-year comparison period, Amazon.com, Inc. outperformed Walmart Inc. in 17 years, while Walmart Inc. outperformed Amazon.com, Inc. in 12 years.
AMZN - Amazon.com, Inc.
WMT - Walmart Inc.
Overall Winner: AMZN with an average annual return of 69.29% (vs 18.19% for WMT)
Understanding AMZN vs WMT Performance
When comparing Amazon.com, Inc. and Walmart Inc., investors should consider multiple factors beyond just total returns. Volatility, consistency of growth, dividend payments, and sector-specific risks all play crucial roles in determining which stock might be better suited for your investment strategy and risk tolerance.
Historical performance data shows how each stock responded to market downturns, economic expansions, and company-specific events. While past performance doesn't guarantee future results, understanding these patterns can help inform investment decisions and portfolio allocation strategies.
Cumulative Growth Comparison
A $10,000 investment in Amazon.com, Inc. grew to $16,548,060, compared to $2,385,089 for Walmart Inc. over the same period.
Year-by-Year Comparison
| Year | AMZN Return | AMZN Cumulative | WMT Return | WMT Cumulative | Difference | Winner |
|---|---|---|---|---|---|---|
| 1997 (Start) | - | $10,000.00 | - | $10,000.00 | - | Initial Investment |
| 1998 | +156.38% | $25,638.25 | +72.82% | $98,849.22 | +83.56% (AMZN) | AMZN |
| 1999 | +979.83% | $276,849.57 | +107.89% | $205,501.68 | +871.94% (AMZN) | AMZN |
| 2000 | +28.68% | $356,262.78 | +72.17% | $353,803.09 | -43.48% (WMT) | WMT |
| 2001 | -82.59% | $62,034.57 | -20.11% | $282,649.89 | -62.48% (WMT) | WMT |
| 2002 | -22.02% | $48,375.78 | +7.43% | $303,655.49 | -29.45% (WMT) | WMT |
| 2003 | +72.35% | $83,377.61 | -12.52% | $265,623.88 | +84.88% (AMZN) | AMZN |
| 2004 | +168.88% | $224,186.51 | +3.50% | $274,921.50 | +165.38% (AMZN) | AMZN |
| 2005 | -14.66% | $191,314.45 | +1.95% | $280,277.89 | -16.61% (WMT) | WMT |
| 2006 | +5.91% | $202,616.27 | -11.19% | $248,918.62 | +17.10% (AMZN) | AMZN |
| 2007 | -17.07% | $168,037.80 | +1.37% | $252,321.93 | -18.43% (WMT) | WMT |
| 2008 | +139.38% | $402,248.63 | +1.87% | $257,037.19 | +137.51% (AMZN) | AMZN |
| 2009 | -46.72% | $214,309.70 | +21.62% | $312,600.15 | -68.34% (WMT) | WMT |
| 2010 | +147.46% | $530,333.73 | -4.49% | $298,560.05 | +151.95% (AMZN) | AMZN |
| 2011 | +34.43% | $712,920.60 | +1.73% | $303,739.87 | +32.69% (AMZN) | AMZN |
| 2012 | -6.04% | $669,886.80 | +12.53% | $341,799.29 | -18.57% (WMT) | WMT |
| 2013 | +40.13% | $938,694.64 | +15.88% | $396,089.60 | +24.24% (AMZN) | AMZN |
| 2014 | +54.98% | $1,454,828.95 | +16.44% | $461,207.05 | +38.54% (AMZN) | AMZN |
| 2015 | -22.02% | $1,134,523.09 | +11.56% | $514,517.94 | -33.58% (WMT) | WMT |
| 2016 | +119.07% | $2,485,455.69 | -26.65% | $377,379.93 | +145.73% (AMZN) | AMZN |
| 2017 | +17.72% | $2,925,899.33 | +15.73% | $436,738.53 | +1.99% (AMZN) | AMZN |
| 2018 | +55.17% | $4,540,119.14 | +47.54% | $644,375.46 | +7.63% (AMZN) | AMZN |
| 2019 | +26.32% | $5,735,126.67 | -3.28% | $623,270.55 | +29.60% (AMZN) | AMZN |
| 2020 | +20.06% | $6,885,446.11 | +29.90% | $809,616.39 | -9.84% (WMT) | WMT |
| 2021 | +71.60% | $11,815,225.48 | +23.22% | $997,598.72 | +48.38% (AMZN) | AMZN |
| 2022 | +4.64% | $12,362,897.01 | +0.31% | $1,000,736.77 | +4.32% (AMZN) | AMZN |
| 2023 | -50.71% | $6,094,225.08 | -0.44% | $996,370.40 | -50.27% (WMT) | WMT |
| 2024 | +77.04% | $10,789,519.66 | +11.46% | $1,110,540.70 | +65.59% (AMZN) | AMZN |
| 2025 | +46.33% | $15,788,119.97 | +72.20% | $1,912,361.41 | -25.87% (WMT) | WMT |
| 2026 | +4.81% | $16,548,060.26 | +24.72% | $2,385,089.02 | -19.91% (WMT) | WMT |
Annual returns include dividends and stock splits. Cumulative values show growth of $10,000 invested from the first year. Positive difference means AMZN outperformed WMT that year.
Company Profiles
Amazon.com, Inc.
AMZN
Amazon.com, Inc. is a global technology leader that has transformed from an online bookstore into the world's largest e-commerce marketplace and a dominant force in cloud computing, digital streaming, and artificial intelligence. The company operates through a diverse ecosystem that includes its massive retail platform, Amazon Web Services (AWS), digital content production via Amazon Studios, and physical retail through subsidiaries like Whole Foods Market. Amazon is recognized for its customer-centric business model and its 'Day 1' philosophy of continuous innovation.
Key Innovations
- ✓1-Click Ordering technology
- ✓Amazon Prime (subscription-based loyalty and logistics program)
- ✓Amazon Web Services (AWS) cloud infrastructure
- ✓Kindle E-readers and E-ink display technology
- ✓Alexa and Echo voice-activated AI ecosystem
- ✓Fulfillment by Amazon (FBA) logistics network
- ✓Just Walk Out technology (cashierless physical retail)
- ✓Prime Air (drone delivery initiatives)
Business Segments
- North AmericaFocuses on retail sales of consumer products, advertising, and subscription services (like Amazon Prime) through North America-focused online and physical stores.
- InternationalOperates the company's retail business for consumer products, advertising, and subscriptions for internationally focused online stores across Europe, Asia, and other global regions.
- Amazon Web Services (AWS)The world's most comprehensive and broadly adopted cloud platform, offering over 200 fully featured services including compute, storage, databases, analytics, machine learning, and AI to startups, enterprises, and government agencies.
Walmart Inc.
WMT
Walmart Inc. is the world's largest retailer, operating as a multi-channel global enterprise that helps people save money and live better. The company follows a 'people-led, tech-powered' strategy, integrating its massive physical footprint of over 10,500 stores with a rapidly growing e-commerce and digital services ecosystem. As of 2026, Walmart is a dominant force in grocery, general merchandise, and pharmacy, while aggressively expanding into high-margin revenue streams such as retail media (Walmart Connect), third-party marketplaces, and automated fulfillment services. Its business model centers on 'Every Day Low Price' (EDLP) supported by one of the most sophisticated supply chain and logistics infrastructures in the world.
Key Innovations
- ✓Cross-Docking Logistics: A pioneer in efficient distribution that minimizes warehouse storage time.
- ✓Retail Link: A revolutionary proprietary data system that allows suppliers to track their own products in real-time.
- ✓AI-Powered 'Agentic' Shopping: Integration of autonomous AI agents that handle discovery, price comparison, and purchasing for customers.
- ✓Drone Delivery: Rapid expansion of aerial delivery services reaching millions of U.S. households.
- ✓Automated Market Fulfillment Centers (MFCs): Integration of modular, robotic retrieval systems within existing retail stores for ultra-fast picking.
- ✓Walmart Connect: A sophisticated closed-loop advertising platform that leverages first-party shopper data.
- ✓Vizio Integration: Strategic use of SmartCast OS for shoppable TV and enhanced data analytics following the 2024 acquisition.
Business Segments
- Walmart U.S.The largest segment, operating retail stores under the 'Walmart' and 'Walmart Neighborhood Market' brands in the U.S., as well as its domestic e-commerce business. It is a leader in grocery, which accounts for more than half of its domestic sales.
- Walmart InternationalConsists of operations in 18 countries outside the U.S., including wholly owned subsidiaries and joint ventures. Key markets include Mexico (Walmex), Canada, China, and a majority stake in India's Flipkart.
- Sam's ClubA membership-only warehouse club that operates in the U.S. and Puerto Rico, as well as online. It focuses on providing high-volume, high-value products to both individual members and small business owners.
How This Comparison Works
Our stock comparison tool uses adjusted closing prices to calculate year-by-year returns for both stocks. This ensures an apples-to-apples comparison that accounts for:
- ✓Dividends: All dividend payments are reinvested
- ✓Stock splits: Historical prices are adjusted for all splits
- ✓Head-to-head record: Shows which stock outperformed each year
- ✓Statistical analysis: Average returns, best/worst years, and win rates
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Important Disclaimer
This comparison tool is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Past performance is not indicative of future results. Historical returns include dividends and stock splits but do not account for taxes, fees, inflation, or individual circumstances. Stock market investments carry risk, including the potential loss of principal. Always consult with a qualified financial advisor before making investment decisions. The data presented is based on historical market data and may contain inaccuracies or delays.