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雪佛龙（CVX）与壳牌（SHEL）财务数据对比。点击上方公司名可切换其他公司
壳牌的季度营收约是雪佛龙的1.4倍（$65.4B vs $45.8B），雪佛龙净利率更高（6.0% vs 5.6%，领先0.5%），雪佛龙同比增速更快（-5.3% vs -12.2%），过去两年雪佛龙的营收复合增速更高（-0.9% vs -11.9%）
雪佛龙是美国知名跨国能源企业，主营业务为石油和天然气相关业务，是标准石油拆分后的第二大直系子公司，前身为加利福尼亚标准石油公司，目前业务布局覆盖全球超过180个国家，在全球能源市场占据重要地位。
壳牌是总部位于英国伦敦的跨国油气企业，为国际石油巨头的核心成员。公司为公众有限公司，在伦敦证券交易所主上市，同时在阿姆斯特丹泛欧交易所、纽约证券交易所二次上市，按营收计是全球第二大投资者所有油气企业，也位列全球全行业规模最大的企业行列。
CVX vs SHEL — 直观对比
营收规模更大
SHEL
是对方的1.4倍
$45.8B
营收增速更快
CVX
高出6.9%
-12.2%
净利率更高
CVX
高出0.5%
5.6%
两年增速更快
CVX
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q2 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $45.8B | $65.4B |
| 净利润 | $2.8B | $3.6B |
| 毛利率 | 44.6% | — |
| 营业利润率 | 10.0% | — |
| 净利率 | 6.0% | 5.6% |
| 营收同比 | -5.3% | -12.2% |
| 净利润同比 | -14.5% | -0.2% |
| 每股收益（稀释后） | $1.36 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CVXSHEL
| Q4 25 | $45.8B | — | ||
| Q3 25 | $48.2B | — | ||
| Q2 25 | $44.4B | $65.4B | ||
| Q1 25 | $46.1B | $69.2B | ||
| Q4 24 | $48.3B | — | ||
| Q3 24 | $48.9B | — | ||
| Q2 24 | $49.6B | $74.5B | ||
| Q1 24 | $46.6B | $72.5B |
净利润CVXSHEL
| Q4 25 | $2.8B | — | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $2.5B | $3.6B | ||
| Q1 25 | $3.5B | $4.9B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.4B | $3.6B | ||
| Q1 24 | $5.5B | $7.4B |
毛利率CVXSHEL
| Q4 25 | 44.6% | — | ||
| Q3 25 | 43.1% | — | ||
| Q2 25 | 39.5% | — | ||
| Q1 25 | 37.9% | — | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 37.8% | — | ||
| Q2 24 | 37.7% | — | ||
| Q1 24 | 40.4% | — |
营业利润率CVXSHEL
| Q4 25 | 10.0% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 13.3% | — | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | 17.0% | — |
净利率CVXSHEL
| Q4 25 | 6.0% | — | ||
| Q3 25 | 7.3% | — | ||
| Q2 25 | 5.6% | 5.6% | ||
| Q1 25 | 7.6% | 7.0% | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 9.2% | — | ||
| Q2 24 | 8.9% | 4.9% | ||
| Q1 24 | 11.8% | 10.3% |
每股收益（稀释后）CVXSHEL
| Q4 25 | $1.36 | — | ||
| Q3 25 | $1.82 | — | ||
| Q2 25 | $1.45 | — | ||
| Q1 25 | $2.00 | — | ||
| Q4 24 | $1.84 | — | ||
| Q3 24 | $2.48 | — | ||
| Q2 24 | $2.43 | — | ||
| Q1 24 | $2.97 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $32.7B |
| 总债务越低越好 | $39.8B | — |
| 股东权益账面价值 | $186.4B | $183.1B |
| 总资产 | $324.0B | $387.9B |
| 负债/权益比越低杠杆越低 | 0.21× | — |
8季度趋势，按日历期对齐
现金及短期投资CVXSHEL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $32.7B | ||
| Q1 25 | — | $35.6B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $4.0B | $38.1B | ||
| Q1 24 | $6.3B | $39.9B |
总债务CVXSHEL
| Q4 25 | $39.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $20.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CVXSHEL
| Q4 25 | $186.4B | — | ||
| Q3 25 | $189.8B | — | ||
| Q2 25 | $146.4B | $183.1B | ||
| Q1 25 | $149.2B | — | ||
| Q4 24 | $152.3B | — | ||
| Q3 24 | $156.2B | — | ||
| Q2 24 | $159.2B | $187.2B | ||
| Q1 24 | $160.6B | — |
总资产CVXSHEL
| Q4 25 | $324.0B | — | ||
| Q3 25 | $326.5B | — | ||
| Q2 25 | $250.8B | $387.9B | ||
| Q1 25 | $256.4B | — | ||
| Q4 24 | $256.9B | — | ||
| Q3 24 | $259.2B | — | ||
| Q2 24 | $260.6B | $394.8B | ||
| Q1 24 | $261.7B | — |
负债/权益比CVXSHEL
| Q4 25 | 0.21× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $10.8B | $11.9B |
| 自由现金流经营现金流 - 资本支出 | $5.5B | — |
| 自由现金流率自由现金流/营收 | 12.1% | — |
| 资本支出强度资本支出/营收 | 11.5% | — |
| 现金转化率经营现金流/净利润 | 3.89× | 3.28× |
| 过去12个月自由现金流最近4个季度 | $16.6B | — |
8季度趋势，按日历期对齐
经营现金流CVXSHEL
| Q4 25 | $10.8B | — | ||
| Q3 25 | $9.4B | — | ||
| Q2 25 | $8.6B | $11.9B | ||
| Q1 25 | $5.2B | $9.3B | ||
| Q4 24 | $8.7B | — | ||
| Q3 24 | $9.7B | — | ||
| Q2 24 | $6.3B | $13.5B | ||
| Q1 24 | $6.8B | $13.3B |
自由现金流CVXSHEL
| Q4 25 | $5.5B | — | ||
| Q3 25 | $4.9B | — | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $5.6B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.7B | — |
自由现金流率CVXSHEL
| Q4 25 | 12.1% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 11.5% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 5.9% | — |
资本支出强度CVXSHEL
| Q4 25 | 11.5% | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 8.5% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 8.3% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 8.8% | — |
现金转化率CVXSHEL
| Q4 25 | 3.89× | — | ||
| Q3 25 | 2.65× | — | ||
| Q2 25 | 3.44× | 3.28× | ||
| Q1 25 | 1.48× | 1.90× | ||
| Q4 24 | 2.68× | — | ||
| Q3 24 | 2.16× | — | ||
| Q2 24 | 1.42× | 3.70× | ||
| Q1 24 | 1.24× | 1.79× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CVX
| Other | $17.5B | 38% |
| Downstream Segment | $16.8B | 37% |
| Upstream Segment | $11.5B | 25% |
SHEL
暂无分部数据
