Shell plc (SHEL) quarterly cash flow statement — complete operating, investing & financing history
Shell plc (SHEL) cash flow statement — 28-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 21.43B | 6.06B | 9.44B | 12.21B | 11.94B | 9.28B | 13.16B | 14.68B | 13.51B | 13.33B | 12.57B | 12.33B | 15.13B | 14.16B | 22.41B | 12.54B | 18.66B | 14.81B | 8.17B | 16.02B |
| Operating CF Margin % | 22.64% | 8.7% | 14.73% | 17.91% | 18.25% | 13.41% | 19.86% | 20.66% | 18.14% | 18.39% | 15.96% | 16.15% | 20.29% | 16.28% | 22.12% | 13.1% | 18.64% | 17.59% | 9.58% | 26.69% |
| Operating CF Growth % | 79.54% | -34.68% | -28.31% | -16.87% | -11.63% | -30.38% | 4.74% | 19.07% | -10.72% | -5.85% | -43.9% | -1.65% | -18.9% | -4.43% | 174.27% | -21.75% | 47.86% | 78.62% | 29.93% | 54.04% |
| Net Income | 15.75B | 9.33B | 6.9B | 7.92B | 5.97B | 8.96B | 4.21B | 7.27B | 7.4B | 11.04B | 1.63B | 11.29B | 5.35B | 14.35B | 16.44B | 11.44B | 26.16B | 10.78B | 16.27B | 1.19B |
| Depreciation & Amortization | 5.56B | 5.74B | 5.75B | 5.82B | 5.46B | 5.13B | 5.83B | 5.58B | 5.64B | 5.88B | 14.17B | 5.72B | 5.71B | 5.7B | 1.87B | 5.67B | 5.61B | 5.39B | 6.44B | 6B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -3.33B | 2.17B | -4.49B | -1.51B | 885M | -2.15B | 725M | -830M | 720M | -843M | -6.57B | -4.9B | -813M | -5.25B | -6.3B | -403M | -8.87B | 6.08B | -11.57B | 10.27B |
| Working Capital Changes | 3.44B | -11.18B | 1.27B | -28M | -386M | -2.66B | 2.41B | 2.67B | -258M | -2.75B | 3.34B | 221M | 4.89B | -646M | 10.39B | -4.16B | -4.24B | -7.42B | -2.97B | -1.45B |
| Change in Receivables | 1.59B | -10.4B | 646M | 569M | 3.63B | -2.61B | 751M | 4.06B | 1.97B | -195M | -704M | -1.13B | 8.29B | 5.94B | 5.18B | -98M | -4.07B | -10.01B | -6.8B | -2.86B |
| Change in Inventory | 3.74B | -6.69B | 738M | 352M | -27M | 854M | 130M | 2.71B | -954M | -608M | 4.09B | -3.15B | 1.17B | 4.22B | 2.9B | 484M | -6.83B | -4.91B | -860M | -538M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -3.91B | -3.14B | -5.19B | -2.26B | -5.41B | -3.96B | -4.43B | -3.86B | -3.34B | -3.53B | -5.66B | -4.83B | -3.02B | -4.24B | -6.92B | -5.05B | -6.21B | -4.27B | 2.58B | -3.8B |
| Capital Expenditures | -4.03B | -3.76B | -5.25B | -4.56B | -57M | -3.75B | -6.49B | -4.69B | -4.45B | -3.98B | -6.96B | -5.26B | -4.61B | -6.16B | -6.42B | -5.27B | -6.68B | -4.24B | -6.24B | -4.65B |
| CapEx % of Revenue | 4.26% | 5.39% | 8.19% | 6.69% | 0.09% | 5.41% | 9.79% | 6.6% | 5.97% | 5.49% | 8.84% | 6.89% | 6.19% | 7.08% | 6.34% | 5.5% | 6.67% | 5.03% | 7.31% | 7.74% |
| Acquisitions | -116M | -384M | -577M | 681M | -405M | -380M | -115M | -128M | 0 | 318.82M | -60M | -282M | -336M | -50M | -741M | 108M | -213M | -617M | -8M | 23M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 228M | 986M | 673M | 1.63B | -4.95B | 179M | 2.18B | 993M | 1.12B | -55.71M | 1.38B | 747M | 2B | 2B | 218M | 138M | 762M | 641M | 8.79B | -3.79B |
| Cash from Financing | -9.17B | -9.82B | -7.05B | -9.47B | -10.11B | -9.18B | -10.89B | -7.45B | -11.85B | -8.25B | -11.7B | -9.15B | -9B | -8.38B | -12.08B | -9.71B | -11.15B | -9.02B | -11.76B | -7.93B |
| Debt Issued (Net) | -2.83B | -2.78B | -53M | -2.7B | -4.1B | -2.29B | -2.61B | -1.33B | -4.2B | -1.47B | -4.01B | -3.09B | -1.6B | -1.12B | -2.43B | -1.27B | -1.86B | -2.31B | -6.28B | -4.09B |
| Equity Issued (Net) | -3B | -3.6B | -3.8B | -3.77B | -3.54B | -4.08B | -3.89B | -3.53B | -3.98B | -3.29B | -4.69B | -2.75B | -3.54B | -4.52B | -5.02B | -4.97B | -5.46B | -3.58B | -1.96B | -937M |
| Dividends Paid | -2.16B | -2.1B | -2.07B | -2.1B | -2.12B | -2.18B | -2.11B | -2.17B | -2.18B | -2.21B | -2.2B | -2.18B | -1.98B | -2.03B | -1.78B | -1.82B | -1.85B | -1.95B | -1.84B | -1.81B |
| Share Repurchases | -3B | -3.18B | -3.42B | -3.61B | -3.53B | -4.08B | -3.89B | -3.54B | -3.98B | -3.29B | -4.69B | -2.75B | -3.62B | -4.52B | -5.02B | -4.97B | -5.54B | -3.58B | -1.96B | -971M |
| Other Financing | -1.17B | -1.33B | -1.13B | -908M | -343M | -630M | -2.27B | -421M | -1.49B | -1.28B | -797M | -1.12B | -1.88B | -709M | -2.84B | -1.64B | -1.98B | -1.19B | -1.69B | -1.09B |
| Net Change in Cash | 8.26B | -7.1B | -2.84B | 371M | -2.92B | -3.51B | -3.14B | 4.1B | -1.8B | 1.18B | -4.26B | -2.06B | 3.02B | 1.83B | 4.27B | -2.99B | 610M | 1.39B | -1.1B | 3.97B |
| Free Cash Flow | 17.4B | 2.31B | 4.19B | 7.65B | 6.49B | 5.53B | 6.68B | 9.99B | 9.06B | 9.35B | 5.62B | 7.07B | 10.52B | 8B | 15.99B | 7.27B | 11.98B | 10.58B | 1.93B | 11.38B |
| FCF Margin % | 18.38% | 3.31% | 6.54% | 11.22% | 9.92% | 7.99% | 10.07% | 14.06% | 12.17% | 12.9% | 7.13% | 9.26% | 14.1% | 9.2% | 15.78% | 7.59% | 11.97% | 12.56% | 2.27% | 18.95% |
| FCF Growth % | 168.24% | -58.34% | -37.25% | -23.45% | -28.42% | -40.82% | 18.9% | 41.3% | -13.82% | 16.9% | -64.88% | -2.72% | -12.21% | -24.39% | 726.58% | -36.09% | 42.85% | 139.92% | 78.91% | 69.2% |
| FCF per Share | 6.17 | 0.81 | 1.44 | 2.59 | 2.16 | 1.74 | 2.15 | 3.13 | 2.82 | 2.88 | 1.69 | 2.10 | 3.07 | 2.29 | 4.49 | 1.98 | 3.19 | 2.76 | 0.50 | 2.93 |
| FCF Conversion (FCF/Net Income) | 1.98x | 1.06x | 2.28x | 2.29x | 3.31x | 1.94x | 14.19x | 3.42x | 3.84x | 1.81x | 26.63x | 1.75x | 4.83x | 1.63x | 2.15x | 1.86x | 1.03x | 2.08x | 0.71x | -35.85x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 1.38B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |