Shell vs ExxonMobil
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KIRAβs take AI analyst
I put Shell and ExxonMobil side by side, using each oneβs latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Shell
SHEL
2/8
Piotroski F-scoreShare count change
ExxonMobil
XOM
6/8
Revenue growth5-year growthNet marginReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | SHEL FY25 | XOM FY25 |
|---|---|---|
| Size | ||
| Market cap | $636.0B | $770.3B |
| 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 | 23.7x |
| Piotroski F-score | 5 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.