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Devon Energy vs Shell: revenue, profit, margins and growth compared

Devon Energy brought in $17.2B of revenue in fiscal 2025, Shell $266.9B in fiscal 2025. Revenue changed by +7.8% at Devon Energy and -6.1% at Shell on the year before, so Devon Energy grew faster. Devon Energy kept 15.4% of its revenue as net profit, Shell 6.7%.

Side by side, latest fiscal year

DVNSHEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17.2B$266.9B
Revenue growth+7.8%-6.1%
Net income$2.6B$17.8B
Net margin15.4%6.7%
Free cash flow$3.1Bn/a
Free cash flow margin18.1%n/a
Earnings per share (diluted)$4.17n/a
Cash$1.4B$30.2B
Debt$8.4B$75.6B
Price to earnings11.3n/a
Market value$51.8B$272.5B
Dividend yieldn/an/a
Rank by revenue in sector#23 of 146 · Energy#1 of 146 · Energy

Over the years

Revenue
DVN FY2018: $8.9BDVN FY2019: $6.7BDVN FY2020: $4.8BDVN FY2021: $13.8BDVN FY2022: $19.8BDVN FY2023: $15.3BDVN FY2024: $15.9BDVN FY2025: $17.2BSHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $17.2BSHEL $266.9B
Net income
DVN FY2018: $3.1BDVN FY2019: -$355MDVN FY2020: -$2.7BDVN FY2021: $2.8BDVN FY2022: $6BDVN FY2023: $3.7BDVN FY2024: $2.9BDVN FY2025: $2.6BSHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $2.6BSHEL $17.8B
Net margin
DVN FY2018: 34.4%DVN FY2019: -5.3%DVN FY2020: -55.5%DVN FY2021: 20.5%DVN FY2022: 30.4%DVN FY2023: 24.5%DVN FY2024: 18.1%DVN FY2025: 15.4%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
DVN 15.4%SHEL 6.7%
Revenue growth
DVN FY2019: -25.0%DVN FY2020: -27.7%DVN FY2021: +184.8%DVN FY2022: +44.2%DVN FY2023: -23.0%DVN FY2024: +4.5%DVN FY2025: +7.8%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
DVN +7.8%SHEL -6.1%
Free cash flow
DVN FY2018: $1.5BDVN FY2019: $2BDVN FY2020: $311MDVN FY2021: $2.9BDVN FY2022: $6BDVN FY2023: $2.7BDVN FY2024: $3BDVN FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
DVN $3.1BSHEL

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

Questions about Devon Energy and Shell

Which is bigger by revenue, Devon Energy or Shell?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $17.2B for Devon Energy in fiscal 2025.

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

Devon Energy had a net margin of 15.4% in fiscal 2025; Shell had 6.7% in fiscal 2025.

Which grew revenue faster, Devon Energy or Shell?

In their latest fiscal years revenue changed by +7.8% at Devon Energy 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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