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

Shell brought in $266.9B of revenue in fiscal 2025, Woodside Energy $13B in fiscal 2025. Revenue changed by -6.1% at Shell and -1.5% at Woodside Energy on the year before, so Woodside Energy grew faster. Shell kept 6.7% of its revenue as net profit, Woodside Energy 20.9%.

Side by side, latest fiscal year

SHELWDS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$266.9B$13B
Revenue growth-6.1%-1.5%
Net income$17.8B$2.7B
Net margin6.7%20.9%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)n/a$1.42
Cash$30.2B$5.7B
Debt$75.6Bn/a
Price to earningsn/an/a
Market value$274.5B$42.1B
Dividend yieldn/an/a
Rank by revenue in sector#1 of 163 · Energy#28 of 163 · Energy

Over the years

Revenue
SHEL FY2018: $388.4BSHEL FY2019: $344.9BSHEL FY2020: $180.5BSHEL FY2021: $261.5BSHEL FY2022: $381.3BSHEL FY2023: $316.6BSHEL FY2024: $284.3BSHEL FY2025: $266.9BWDS FY2020: $3.6BWDS FY2022: $7BWDS FY2022: $16.8BWDS FY2023: $14BWDS FY2024: $13.2BWDS FY2025: $13BFY18FY19FY20FY21FY22FY23FY24FY25
SHEL $266.9BWDS $13B
Net income
SHEL FY2018: $23.4BSHEL FY2019: $15.8BSHEL FY2020: -$21.7BSHEL FY2021: $20.1BSHEL FY2022: $42.3BSHEL FY2023: $19.4BSHEL FY2024: $16.1BSHEL FY2025: $17.8BWDS FY2020: -$4BWDS FY2022: $2BWDS FY2022: $6.5BWDS FY2023: $1.7BWDS FY2024: $3.6BWDS FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
SHEL $17.8BWDS $2.7B
Net margin
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%WDS FY2020: -111.9%WDS FY2022: 28.5%WDS FY2022: 38.6%WDS FY2023: 11.9%WDS FY2024: 27.1%WDS FY2025: 20.9%FY18FY19FY20FY21FY22FY23FY24FY25
SHEL 6.7%WDS 20.9%
Revenue growth
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%WDS FY2022: +93.4%WDS FY2022: +141.6%WDS FY2023: -16.8%WDS FY2024: -5.8%WDS FY2025: -1.5%FY19FY20FY21FY22FY23FY24FY25
SHEL -6.1%WDS -1.5%

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

Questions about Shell and Woodside Energy

Which is bigger by revenue, Shell or Woodside Energy?

Shell is bigger by revenue: $266.9B in fiscal 2025, against $13B for Woodside Energy in fiscal 2025.

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

Shell had a net margin of 6.7% in fiscal 2025; Woodside Energy had 20.9% in fiscal 2025.

Which grew revenue faster, Shell or Woodside Energy?

In their latest fiscal years revenue changed by -6.1% at Shell and -1.5% at Woodside Energy.

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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