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Side-by-side financial comparison of Phillips 66 (PSX) and Shell plc (SHEL). Click either name above to swap in a different company.
Shell plc is the larger business by last-quarter revenue ($65.4B vs $34.1B, roughly 1.9× Phillips 66). Phillips 66 runs the higher net margin — 8.5% vs 5.6%, a 2.9% gap on every dollar of revenue. On growth, Phillips 66 posted the faster year-over-year revenue change (1.3% vs -12.2%). Over the past eight quarters, Phillips 66's revenue compounded faster (-2.4% CAGR vs -11.9%).
The Phillips 66 Company is an American multinational energy company headquartered in Westchase, Houston, Texas. Its name, dating back to 1927 as a trademark of the Phillips Petroleum Company, assisted in establishing the newly reconfigured Phillips 66. The company today was formed ten years after Phillips merged with Conoco to form ConocoPhillips.
Shell plc is a British multinational oil and gas company, headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue, and among the world's largest companies out of any industry. Measured by both its own emissions, and the emissions of ...
PSX vs SHEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.1B | $65.4B |
| Net Profit | $2.9B | $3.6B |
| Gross Margin | 14.6% | — |
| Operating Margin | — | — |
| Net Margin | 8.5% | 5.6% |
| Revenue YoY | 1.3% | -12.2% |
| Net Profit YoY | 36225.0% | -0.2% |
| EPS (diluted) | $7.14 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $34.1B | — | ||
| Q3 25 | $34.5B | — | ||
| Q2 25 | $33.3B | $65.4B | ||
| Q1 25 | $30.4B | $69.2B | ||
| Q4 24 | $33.7B | — | ||
| Q3 24 | $35.5B | — | ||
| Q2 24 | $38.1B | $74.5B | ||
| Q1 24 | $35.8B | $72.5B |
| Q4 25 | $2.9B | — | ||
| Q3 25 | $133.0M | — | ||
| Q2 25 | $877.0M | $3.6B | ||
| Q1 25 | $487.0M | $4.9B | ||
| Q4 24 | $8.0M | — | ||
| Q3 24 | $346.0M | — | ||
| Q2 24 | $1.0B | $3.6B | ||
| Q1 24 | $748.0M | $7.4B |
| Q4 25 | 14.6% | — | ||
| Q3 25 | 12.4% | — | ||
| Q2 25 | 12.7% | — | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 9.4% | — | ||
| Q2 24 | 9.2% | — | ||
| Q1 24 | 9.6% | — |
| Q4 25 | 8.5% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 2.6% | 5.6% | ||
| Q1 25 | 1.6% | 7.0% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 2.7% | 4.9% | ||
| Q1 24 | 2.1% | 10.3% |
| Q4 25 | $7.14 | — | ||
| Q3 25 | $0.32 | — | ||
| Q2 25 | $2.15 | — | ||
| Q1 25 | $1.18 | — | ||
| Q4 24 | $0.06 | — | ||
| Q3 24 | $0.82 | — | ||
| Q2 24 | $2.38 | — | ||
| Q1 24 | $1.73 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $32.7B |
| Total DebtLower is stronger | $18.7B | — |
| Stockholders' EquityBook value | $29.1B | $183.1B |
| Total Assets | $73.7B | $387.9B |
| Debt / EquityLower = less leverage | 0.64× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.1B | $32.7B | ||
| Q1 25 | $1.5B | $35.6B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $2.4B | $38.1B | ||
| Q1 24 | $1.6B | $39.9B |
| Q4 25 | $18.7B | — | ||
| Q3 25 | $19.2B | — | ||
| Q2 25 | $17.2B | — | ||
| Q1 25 | $17.7B | — | ||
| Q4 24 | $18.2B | — | ||
| Q3 24 | $18.5B | — | ||
| Q2 24 | $17.2B | — | ||
| Q1 24 | $17.8B | — |
| Q4 25 | $29.1B | — | ||
| Q3 25 | $26.9B | — | ||
| Q2 25 | $27.5B | $183.1B | ||
| Q1 25 | $27.3B | — | ||
| Q4 24 | $27.4B | — | ||
| Q3 24 | $28.7B | — | ||
| Q2 24 | $29.5B | $187.2B | ||
| Q1 24 | $29.7B | — |
| Q4 25 | $73.7B | — | ||
| Q3 25 | $76.1B | — | ||
| Q2 25 | $75.9B | $387.9B | ||
| Q1 25 | $71.8B | — | ||
| Q4 24 | $72.6B | — | ||
| Q3 24 | $75.1B | — | ||
| Q2 24 | $75.9B | $394.8B | ||
| Q1 24 | $76.4B | — |
| Q4 25 | 0.64× | — | ||
| Q3 25 | 0.71× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 0.60× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.8B | $11.9B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.95× | 3.28× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.8B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $845.0M | $11.9B | ||
| Q1 25 | $187.0M | $9.3B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $2.1B | $13.5B | ||
| Q1 24 | $-236.0M | $13.3B |
| Q4 25 | 0.95× | — | ||
| Q3 25 | 8.86× | — | ||
| Q2 25 | 0.96× | 3.28× | ||
| Q1 25 | 0.38× | 1.90× | ||
| Q4 24 | 149.75× | — | ||
| Q3 24 | 3.27× | — | ||
| Q2 24 | 2.07× | 3.70× | ||
| Q1 24 | -0.32× | 1.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PSX
| Marketing Speciality Segment | $21.7B | 64% |
| Crude Oil | $3.7B | 11% |
| GB | $3.5B | 10% |
| Other Geographical Areas | $2.4B | 7% |
| DE | $1.1B | 3% |
| Renewable Fuels | $876.0M | 3% |
| Other Product Line | $634.0M | 2% |
SHEL
Segment breakdown not available.
