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BP vs Shell: revenue, profit, margins and growth compared

BP brought in $192.5B of revenue in fiscal 2025, Shell $266.9B in fiscal 2025. Revenue changed by -1.1% at BP and -6.1% at Shell on the year before, so BP grew faster. BP kept 0.0% of its revenue as net profit, Shell 6.7%.

Side by side, latest fiscal year

BPSHEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$192.5B$266.9B
Revenue growth-1.1%-6.1%
Net income$55M$17.8B
Net margin0.0%6.7%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)n/an/a
Cash$36.6B$30.2B
Debt$58B$75.6B
Price to earningsn/an/a
Market value$115.6B$272.5B
Dividend yieldn/an/a
Rank by revenue in sector#3 of 146 · Energy#1 of 146 · Energy

Over the years

Revenue
BP FY2018: $303.7BBP FY2019: $163.5BBP FY2020: $109.1BBP FY2021: $164.2BBP FY2022: $248.9BBP FY2023: $213BBP FY2024: $194.6BBP FY2025: $192.5BSHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BFY18FY19FY20FY21FY22FY23FY24FY25
BP $192.5BSHEL $266.9B
Net income
BP FY2018: $9.4BBP FY2019: $4BBP FY2020: -$20.3BBP FY2021: $7.6BBP FY2022: -$2.5BBP FY2023: $15.2BBP FY2024: $381MBP FY2025: $55MSHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BFY18FY19FY20FY21FY22FY23FY24FY25
BP $55MSHEL $17.8B
Net margin
BP FY2018: 3.1%BP FY2019: 2.5%BP FY2020: -18.6%BP FY2021: 4.6%BP FY2022: -1.0%BP FY2023: 7.2%BP FY2024: 0.2%BP FY2025: 0.0%SHEL FY2018: 6.0%SHEL FY2019: 4.6%SHEL FY2020: -12.0%SHEL FY2021: 7.7%SHEL FY2022: 11.1%SHEL FY2023: 6.1%SHEL FY2024: 5.7%SHEL FY2025: 6.7%FY18FY19FY20FY21FY22FY23FY24FY25
BP 0.0%SHEL 6.7%
Revenue growth
BP FY2019: -46.2%BP FY2020: -33.3%BP FY2021: +50.5%BP FY2022: +51.6%BP FY2023: -14.4%BP FY2024: -8.6%BP FY2025: -1.1%SHEL FY2019: -11.2%SHEL FY2020: -47.7%SHEL FY2021: +44.8%SHEL FY2022: +45.8%SHEL FY2023: -17.0%SHEL FY2024: -10.2%SHEL FY2025: -6.1%FY19FY20FY21FY22FY23FY24FY25
BP -1.1%SHEL -6.1%

Fiscal years as each company reports them; the two may end in different months.

Questions about BP and Shell

Which is bigger by revenue, BP or Shell?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $192.5B for BP in fiscal 2025.

Which keeps more of its revenue as profit, BP or Shell?

BP had a net margin of 0.0% in fiscal 2025; Shell had 6.7% in fiscal 2025.

Which grew revenue faster, BP or Shell?

In their latest fiscal years revenue changed by -1.1% at BP and -6.1% at Shell.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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