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Petrobras - Petroleo Brasileiro vs Shell: revenue, profit, margins and growth compared

Petrobras - Petroleo Brasileiro brought in $91.4B of revenue in fiscal 2024, Shell $266.9B in fiscal 2025. Revenue changed by -10.7% at Petrobras - Petroleo Brasileiro and -6.1% at Shell on the year before, so Shell grew faster. Petrobras - Petroleo Brasileiro kept 8.2% of its revenue as net profit, Shell 6.7%.

Side by side, latest fiscal year

PBRSHEL
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$91.4B$266.9B
Revenue growth-10.7%-6.1%
Net income$7.5B$17.8B
Net margin8.2%6.7%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$0.58n/a
Cash$3.3B$30.2B
Debt$23.2B$75.6B
Price to earningsn/an/a
Market value$131.3B$272.5B
Dividend yieldn/an/a
Rank by revenue in sector#8 of 146 · Energy#1 of 146 · Energy

Over the years

Revenue
PBR FY2017: $77.9BPBR FY2018: $84.6BPBR FY2019: $76.6BPBR FY2020: $53.7BPBR FY2021: $84BPBR FY2022: $124.5BPBR FY2023: $102.4BPBR FY2024: $91.4BSHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BFY17FY18FY19FY20FY21FY22FY23FY24FY25
PBR $91.4BSHEL $266.9B
Net income
PBR FY2017: -$91MPBR FY2018: $7.2BPBR FY2019: $10.2BPBR FY2020: $1.1BPBR FY2021: $19.9BPBR FY2022: $36.6BPBR FY2023: $24.9BPBR FY2024: $7.5BSHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BFY17FY18FY19FY20FY21FY22FY23FY24FY25
PBR $7.5BSHEL $17.8B
Net margin
PBR FY2017: -0.1%PBR FY2018: 8.5%PBR FY2019: 13.3%PBR FY2020: 2.1%PBR FY2021: 23.7%PBR FY2022: 29.4%PBR FY2023: 24.3%PBR FY2024: 8.2%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%FY17FY18FY19FY20FY21FY22FY23FY24FY25
PBR 8.2%SHEL 6.7%
Revenue growth
PBR FY2018: +8.7%PBR FY2019: -9.5%PBR FY2020: -29.9%PBR FY2021: +56.4%PBR FY2022: +48.2%PBR FY2023: -17.7%PBR FY2024: -10.7%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%FY18FY19FY20FY21FY22FY23FY24FY25
PBR -10.7%SHEL -6.1%
Free cash flow
PBR FY2017: $13.5BPBR FY2018: $14.3BFY17FY18
PBR $14.3BSHEL

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

Questions about Petrobras - Petroleo Brasileiro and Shell

Which is bigger by revenue, Petrobras - Petroleo Brasileiro or Shell?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $91.4B for Petrobras - Petroleo Brasileiro in fiscal 2024.

Which keeps more of its revenue as profit, Petrobras - Petroleo Brasileiro or Shell?

Petrobras - Petroleo Brasileiro had a net margin of 8.2% in fiscal 2024; Shell had 6.7% in fiscal 2025.

Which grew revenue faster, Petrobras - Petroleo Brasileiro or Shell?

In their latest fiscal years revenue changed by -10.7% at Petrobras - Petroleo Brasileiro 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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