Aug. 12 at 5:23 PM
The Fortune 500 is an annual list compiled by Fortune magazine that ranks the 500 largest United States corporations by total revenue. Amazon
currently holds the number one spot, recently displacing Walmart’s long streak. In the 72 years since the creation of the Fortune 500 list, only three companies before Amazon occupied the top spot. General Motors, ExxonMobil, and, most recently, the aforementioned Walmart.
Amazon continues to grow the topline at an impressive rate. FY 2026 revenues are estimated at more than
$828 billion, more than 2.5% of US GDP, and 15.5% YoY growth. Despite the solid rate of growth, the company trades at a near-market multiple of just 22x FY 2027 adjusted EPS estimates of
$12.35/share.
The ho-hum multiple may in part be a function of investor concern about the astonishing investments the hyperscalers are making. Amazon’s FY2027 CapEx is nearly
$280 billion. If these enormous investments don’t bear fruit, that would indeed be a painful blow
$AMZN