Shell vs ExxonMobil
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The short version
- ExxonMobil is the larger business, with $332.2B of revenue in fiscal 2025 against $266.9B for Shell.
- ExxonMobil grew revenue faster (β5.0%, against β6.1%).
- ExxonMobil earned a higher return on the capital invested in it (10.3%, against 9.6%).
| Latest fiscal year | SHEL Β· FY25 | XOM Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $643.5B | $764.7B |
| Revenue | $266.9B | $332.2B |
| Free cash flow | β | $23.6B |
| Net income | $17.8B | $28.8B |
| Growth | ||
| Revenue growth | β6.1% | β5.0% |
| 5-year growth | 8.1% | 12.9% |
| Share count change | β6.5% | 0.2% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 6.7% | 8.7% |
| FCF margin | β | 7.1% |
| Return on capital | 9.6% | 10.3% |
| Return on equity | 10.1% | 11.0% |
| Balance sheet | ||
| Net debt | $45.4B | $32.8B |
| Net debt / EBITDA | 0.8x | 0.5x |
| Dividends and buybacks | $22.4B | $37.5B |
| Valuation & quality | ||
| P/E | β | 23.5x |
| Piotroski F-score | 5 | 4 |
Revenue
FY16
SHEL $233.6B
XOM $200.6B
FY17
SHEL $305.2B
XOM $244.4B
FY18
SHEL $388.4B
XOM $290.2B
FY19
SHEL $344.9B
XOM $264.9B
FY20
SHEL $180.5B
XOM $181.5B
FY21
SHEL $261.5B
XOM $285.6B
FY22
SHEL $381.3B
XOM $413.7B
FY23
SHEL $316.6B
XOM $344.6B
FY24
SHEL $284.3B
XOM $349.6B
FY25
SHEL $266.9B
XOM $332.2B
SHEL
XOM
Operating margin
FY16
SHEL β
XOM β
FY17
SHEL β
XOM β
FY18
SHEL β
XOM β
FY19
SHEL β
XOM β
FY20
SHEL β
XOM β
FY21
SHEL β
XOM β
FY22
SHEL β
XOM β
FY23
SHEL β
XOM β
FY24
SHEL β
XOM β
FY25
SHEL β
XOM β
SHEL
XOM
Free cash flow
FY16
SHEL β
XOM $5.9B
FY17
SHEL β
XOM $14.7B
FY18
SHEL β
XOM $16.4B
FY19
SHEL β
XOM $5.4B
FY20
SHEL β
XOM β$2.6B
FY21
SHEL β
XOM $36.1B
FY22
SHEL β
XOM $58.4B
FY23
SHEL β
XOM $33.5B
FY24
SHEL β
XOM $30.7B
FY25
SHEL β
XOM $23.6B
SHEL
XOM
Return on capital
FY16
SHEL β
XOM 4.0%
FY17
SHEL 6.3%
XOM 8.7%
FY18
SHEL 10.3%
XOM 9.4%
FY19
SHEL 7.5%
XOM 6.5%
FY20
SHEL β7.2%
XOM β9.3%
FY21
SHEL 10.0%
XOM 11.0%
FY22
SHEL 19.4%
XOM 27.1%
FY23
SHEL 9.6%
XOM 17.4%
FY24
SHEL 8.5%
XOM 14.0%
FY25
SHEL 9.6%
XOM 10.3%
SHEL
XOM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.