Shell vs TotalEnergies
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KIRAβs take AI analyst
I put Shell and TotalEnergies side by side, using each oneβs latest annual report. Here is what stands out:
- Shell is the larger business, with $266.9B of revenue in fiscal 2025 against $201.2B for TotalEnergies.
- TotalEnergies earned a higher return on the capital invested in it (10.1%, against 9.6%).
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
Shell
SHEL
3/5
Revenue growth5-year growthNet margin
TotalEnergies
TTE
2/5
Return on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | SHEL FY25 | TTE FY25 |
|---|---|---|
| Size | ||
| Market cap | $636.0B | β |
| Revenue | $266.9B | $201.2B |
| Free cash flow | β | β |
| Net income | $17.8B | $13.1B |
| Growth | ||
| Revenue growth | β6.1% | β6.2% |
| 5-year growth | 8.1% | 7.4% |
| Share count change | β6.5% | β |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 6.7% | 6.5% |
| FCF margin | β | β |
| Return on capital | 9.6% | 10.1% |
| Return on equity | 10.1% | 11.3% |
| Balance sheet | ||
| Net debt | $45.4B | $33.0B |
| Net debt / EBITDA | 0.8x | β |
| Dividends and buybacks | $22.4B | $15.8B |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 5 | β |
Ten years
Revenue
FY16
SHEL $233.6B
TTE $127.9B
FY17
SHEL $305.2B
TTE $149.1B
FY18
SHEL $388.4B
TTE $209.4B
FY19
SHEL $344.9B
TTE $200.3B
FY20
SHEL $180.5B
TTE $140.7B
FY21
SHEL $261.5B
TTE $205.9B
FY22
SHEL $381.3B
TTE $281.0B
FY23
SHEL $316.6B
TTE $237.1B
FY24
SHEL $284.3B
TTE $214.6B
FY25
SHEL $266.9B
TTE $201.2B
SHEL
TTE
Operating margin
FY16
SHEL β
TTE 4.3%
FY17
SHEL β
TTE 5.2%
FY18
SHEL β
TTE 7.7%
FY19
SHEL β
TTE 8.1%
FY20
SHEL β
TTE β4.5%
FY21
SHEL β
TTE 12.1%
FY22
SHEL β
TTE 18.0%
FY23
SHEL β
TTE β
FY24
SHEL β
TTE β
FY25
SHEL β
TTE β
SHEL
TTE
Free cash flow
FY16
SHEL β
TTE β
FY17
SHEL β
TTE β
FY18
SHEL β
TTE β
FY19
SHEL β
TTE β
FY20
SHEL β
TTE β
FY21
SHEL β
TTE β
FY22
SHEL β
TTE β
FY23
SHEL β
TTE β
FY24
SHEL β
TTE β
FY25
SHEL β
TTE β
SHEL
TTE
Return on capital
FY16
SHEL β
TTE 3.6%
FY17
SHEL 6.3%
TTE 4.3%
FY18
SHEL 10.3%
TTE 7.4%
FY19
SHEL 7.5%
TTE 7.2%
FY20
SHEL β7.2%
TTE β3.3%
FY21
SHEL 10.0%
TTE 10.1%
FY22
SHEL 19.4%
TTE 17.0%
FY23
SHEL 9.6%
TTE 16.5%
FY24
SHEL 8.5%
TTE 12.2%
FY25
SHEL 9.6%
TTE 10.1%
SHEL
TTE
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.