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Marathon Petroleum vs Shell: revenue, profit, margins and growth compared

Marathon Petroleum brought in $132.7B of revenue in fiscal 2025, Shell $266.9B in fiscal 2025. Revenue changed by -4.4% at Marathon Petroleum and -6.1% at Shell on the year before, so Marathon Petroleum grew faster. Marathon Petroleum kept 3.0% of its revenue as net profit, Shell 6.7%.

Side by side, latest fiscal year

MPCSHEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$132.7B$266.9B
Revenue growth-4.4%-6.1%
Net income$4B$17.8B
Net margin3.0%6.7%
Free cash flow$4.8Bn/a
Free cash flow margin3.6%n/a
Earnings per share (diluted)$13.22n/a
Cash$3.7B$30.2B
Debt$33.3B$75.6B
Price to earnings29.8n/a
Market value$110.5B$272.5B
Dividend yield0.95%n/a
Rank by revenue in sector#5 of 146 · Energy#1 of 146 · Energy

Over the years

Revenue
MPC FY2018: $86.1BMPC FY2019: $111.1BMPC FY2020: $69.8BMPC FY2021: $120BMPC FY2022: $177.5BMPC FY2023: $148.4BMPC FY2024: $138.9BMPC FY2025: $132.7BSHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $132.7BSHEL $266.9B
Net income
MPC FY2018: $2.8BMPC FY2019: $2.6BMPC FY2020: -$9.8BMPC FY2021: $9.7BMPC FY2022: $14.5BMPC FY2023: $9.7BMPC FY2024: $3.4BMPC FY2025: $4BSHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4BSHEL $17.8B
Net margin
MPC FY2018: 3.2%MPC FY2019: 2.4%MPC FY2020: -14.1%MPC FY2021: 8.1%MPC FY2022: 8.2%MPC FY2023: 6.5%MPC FY2024: 2.5%MPC FY2025: 3.0%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
MPC 3.0%SHEL 6.7%
Revenue growth
MPC FY2019: +29.1%MPC FY2020: -37.2%MPC FY2021: +71.9%MPC FY2022: +47.9%MPC FY2023: -16.4%MPC FY2024: -6.4%MPC FY2025: -4.4%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
MPC -4.4%SHEL -6.1%
Free cash flow
MPC FY2018: $3BMPC FY2019: $4.6BMPC FY2020: -$368MMPC FY2021: $2.9BMPC FY2022: $13.9BMPC FY2023: $12.2BMPC FY2024: $6.1BMPC FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4.8BSHEL

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

Questions about Marathon Petroleum and Shell

Which is bigger by revenue, Marathon Petroleum or Shell?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $132.7B for Marathon Petroleum in fiscal 2025.

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

Marathon Petroleum had a net margin of 3.0% in fiscal 2025; Shell had 6.7% in fiscal 2025.

Which grew revenue faster, Marathon Petroleum or Shell?

In their latest fiscal years revenue changed by -4.4% at Marathon Petroleum 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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