Energy Stocks · Tool Face-Off

Saudi Aramco Stock vs Shell Stock

Quick answer

Saudi Aramco dominates on sheer scale and dividend yield, but Shell offers far easier access for retail investors and better diversification into energy transition plays.

Saudi Aramco Stock (2222.SR / ARMCO)

The world's most profitable company, hiding in Riyadh

3.1★

Our pick

Shell Stock (SHEL)

Big Oil with a green tinge and a London-New York dual listing

4★

Primary Exchange

Tadawul (Saudi Exchange) — 2222.SR

NYSE & LSE — SHEL (dual listed)

Market Cap (approx.)

~$1.7–1.9 trillion USD

~$200–220 billion USD

Dividend Yield (approx.)

~5–8% (incl. special dividends)

~3.5–4.5%

Net Profit Margin

~25–30% (industry-leading)

~8–12%

Retail Investor Access

Requires Saudi brokerage or select GDR markets

Buy on any major broker in USD or GBP

Renewables / LNG Strategy

Minimal; core focus stays on crude oil

Active LNG, hydrogen, EV charging, solar investments

P/E Ratio (approx.)

~16–20x (premium for scale)

~8–12x (cheaper on earnings)

Government Ownership

~98% Saudi government owned

Fully public float

Debt Level

Very low — virtually no net debt

Moderate leverage (~$40–50B net debt)

Buyback Program

Announced ~$7B buyback (2024)

$3.5B+ per quarter buybacks ongoing

Oil Production (boe/day)

~9–10 million boe/day

~2.9 million boe/day

Currency Risk

SAR is USD-pegged — minimal FX risk

Exposed to USD/GBP/EUR fluctuations

Saudi Aramco Stock (2222.SR / ARMCO)

Liquidity★★★☆☆

Profitability★★★★★

Dividend Yield★★★★★

Geopolitical Risk★★☆☆☆

Valuation Attractiveness★★★☆☆

Energy Transition Exposure★★☆☆☆

Accessibility for Retail Investors★★☆☆☆

Shell Stock (SHEL)

Liquidity★★★★½

Profitability★★★½☆

Dividend Yield★★★½☆

Geopolitical Risk★★★½☆

Valuation Attractiveness★★★★☆

Energy Transition Exposure★★★★☆

Accessibility for Retail Investors★★★★★

Worth knowing

Saudi Aramco's 2022 net income of ~$161B was the largest ever recorded by any company in history.
Shell has paid a dividend every year since 1945 — it famously cut it in 2020 for the first time since WWII, then restored and grew it.
Aramco's production cost is ~$2.50/barrel, making it profitable even if oil crashed to $10. Shell's breakeven is closer to $30–40.
Shell operates in 70+ countries and has over 46,000 EV charge points globally — Aramco has essentially zero.
Aramco's free float is only ~2% of shares; the Saudi government controls the rest, limiting true market price discovery.

Saudi Aramco is so profitable that if it were a country, its annual earnings would rank in the top 60 global GDPs — ahead of countries like New Zealand and Hungary.

If you want

You want maximum dividend income and don't mind navigating foreign brokers

Aramco's yield (especially with special dividends) is hard to beat anywhere in the energy sector.

→ Pick Saudi Aramco Stock (2222.SR / ARMCO)

If you want

You want easy access via a standard brokerage account

SHEL trades on NYSE — you can buy it in 30 seconds on any platform, no Saudi account needed.

→ Pick Shell Stock (SHEL)

If you want

You believe in energy transition and want oil + green exposure

Shell is actively investing in LNG, hydrogen, and EV infrastructure while still pumping oil profits.

→ Pick Shell Stock (SHEL)