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Phillips 66 vs Shell: revenue, profit, margins and growth compared

Phillips 66 brought in $132.4B of revenue in fiscal 2025, Shell $266.9B in fiscal 2025. Revenue changed by -7.5% at Phillips 66 and -6.1% at Shell on the year before, so Shell grew faster. Phillips 66 kept 3.3% of its revenue as net profit, Shell 6.7%.

Side by side, latest fiscal year

PSXSHEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$132.4B$266.9B
Revenue growth-7.5%-6.1%
Net income$4.4B$17.8B
Net margin3.3%6.7%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$10.79n/a
Cash$1.1B$30.2B
Debt$19.7B$75.6B
Price to earnings23.7n/a
Market value$102B$272.5B
Dividend yield1.86%n/a
Rank by revenue in sector#6 of 146 · Energy#1 of 146 · Energy

Over the years

Revenue
PSX FY2018: $111.5BPSX FY2019: $107.3BPSX FY2020: $64.1BPSX FY2021: $111.5BPSX FY2022: $170BPSX FY2023: $147.4BPSX FY2024: $143.2BPSX FY2025: $132.4BSHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BFY18FY19FY20FY21FY22FY23FY24FY25
PSX $132.4BSHEL $266.9B
Net income
PSX FY2018: $5.6BPSX FY2019: $3.1BPSX FY2020: -$4BPSX FY2021: $1.3BPSX FY2022: $11BPSX FY2023: $7BPSX FY2024: $2.1BPSX FY2025: $4.4BSHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BFY18FY19FY20FY21FY22FY23FY24FY25
PSX $4.4BSHEL $17.8B
Net margin
PSX FY2018: 5.0%PSX FY2019: 2.9%PSX FY2020: -6.2%PSX FY2021: 1.2%PSX FY2022: 6.5%PSX FY2023: 4.8%PSX FY2024: 1.5%PSX FY2025: 3.3%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
PSX 3.3%SHEL 6.7%
Revenue growth
PSX FY2019: -3.7%PSX FY2020: -40.2%PSX FY2021: +73.8%PSX FY2022: +52.5%PSX FY2023: -13.3%PSX FY2024: -2.9%PSX FY2025: -7.5%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
PSX -7.5%SHEL -6.1%

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

Questions about Phillips 66 and Shell

Which is bigger by revenue, Phillips 66 or Shell?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $132.4B for Phillips 66 in fiscal 2025.

Which keeps more of its revenue as profit, Phillips 66 or Shell?

Phillips 66 had a net margin of 3.3% in fiscal 2025; Shell had 6.7% in fiscal 2025.

Which grew revenue faster, Phillips 66 or Shell?

In their latest fiscal years revenue changed by -7.5% at Phillips 66 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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