Last 48 quarters of trend data · Energy · Oil & Gas Integrated
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Shell plc's quarterly P/E stands at 12.9x, down 75.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 23.6% YoY to 5.4x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.87 | 12.94 | 9.93 | 14.67 | 12.21 | 52.21 | 12.12 | 16.40 | 7.42 | 117.50 | 7.66 | 16.41 | 5.75 |
| — | -75.2% | -18.1% | -10.6% | +64.7% | -55.6% | +58.2% | -0.0% | +28.9% | +2309.8% | +13.4% | +502.5% | -22.1% | |
| P/S Ratio | 0.88 | 0.82 | 0.78 | 0.81 | 0.84 | 0.73 | 0.74 | 0.78 | 0.75 | 0.69 | 0.71 | 0.69 | 0.58 |
| — | +11.4% | +5.2% | +3.9% | +12.0% | +6.0% | +4.4% | +12.1% | +30.2% | +38.3% | +48.9% | +41.2% | -7.6% | |
| P/B Ratio | 1.42 | 1.22 | 1.19 | 1.15 | 1.29 | 1.08 | 1.11 | 1.24 | 1.16 | 1.16 | 1.12 | 1.08 | 1.03 |
| — | +12.5% | +6.8% | -6.7% | +11.5% | -6.7% | -1.1% | +14.9% | +12.7% | +9.9% | +17.1% | +6.5% | -12.3% | |
| P/FCF | 10.81 | 15.45 | 7.29 | 8.15 | 10.54 | 7.29 | 5.27 | 6.39 | 5.83 | 9.71 | 7.66 | 4.92 | 6.28 |
| — | +111.9% | +38.3% | +27.5% | +80.7% | -25.0% | -31.2% | +29.9% | -7.2% | +206.0% | +22.0% | +19.9% | +26.3% | |
| EV / EBITDA | 5.85 | 5.39 | 4.63 | 5.54 | 4.69 | 7.06 | 4.72 | 4.91 | 4.01 | 3.14 | 3.84 | 4.74 | 3.09 |
| — | -23.6% | -1.8% | +12.8% | +17.1% | +125.0% | +22.9% | +3.7% | +29.7% | -1.0% | +2.6% | +84.4% | -9.9% | |
| EV / EBIT | 10.07 | 11.44 | 6.89 | 9.02 | 6.80 | 10.60 | 7.26 | 7.78 | 5.28 | 23.69 | 5.15 | 9.38 | 3.93 |
| — | +8.0% | -5.1% | +15.9% | +28.7% | -55.3% | +40.9% | -17.1% | +34.5% | +567.5% | +9.7% | +317.7% | -23.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Shell plc's operating margin was 11.5% in Q4 2025, down 0.1 pp QoQ and up 7.8 pp YoY. Gross margin expanded 61.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.7% | 16.6% | 16.7% | 14.9% | 18.4% | 10.3% | 15.7% | 16.0% | 19.5% | 14.2% | 19.8% | 15.2% | 20.4% |
| — | +61.3% | +6.7% | -6.9% | -6.0% | -27.5% | -20.7% | +5.1% | -4.4% | -34.9% | +40.4% | -29.0% | +0.3% | |
| Operating Margin | 11.5% | 11.5% | 11.5% | 9.2% | 13.7% | 3.6% | 10.4% | 10.8% | 14.1% | 8.4% | 14.3% | 9.8% | 16.2% |
| — | +215.7% | +10.7% | -14.9% | -2.9% | -56.8% | -27.4% | +10.6% | -12.8% | -51.5% | +42.9% | -45.3% | +1.2% | |
| Net Margin | 6.7% | 6.3% | 7.9% | 5.5% | 6.9% | 1.4% | 6.0% | 4.7% | 10.2% | 0.6% | 9.2% | 4.2% | 10.0% |
| — | +352.7% | +30.2% | +16.6% | -32.0% | +133.5% | -34.6% | +12.4% | +1.4% | -94.2% | +31.0% | -76.7% | +18.5% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 2.3% | 2.9% | 2.0% | 2.6% | 0.5% | 2.3% | 1.9% | 3.9% | 0.2% | 3.7% | 1.6% | 4.5% |
| — | +365.7% | +29.5% | +5.7% | -32.2% | +102.7% | -37.7% | +15.9% | -12.9% | -95.4% | +4.3% | -83.2% | +11.9% | |
| ROA | 4.7% | 1.1% | 1.4% | 0.9% | 1.2% | 0.2% | 1.1% | 0.9% | 1.8% | 0.1% | 1.7% | 0.7% | 2.0% |
| — | +365.3% | +27.9% | +5.0% | -32.4% | +105.9% | -36.1% | +18.9% | -8.8% | -95.1% | +11.6% | -82.0% | +16.4% | |
| ROIC | 9.9% | 2.4% | 2.6% | 2.0% | 3.2% | 0.8% | 2.5% | 2.7% | 3.3% | 2.1% | 3.5% | 2.3% | 4.4% |
| — | +192.8% | +6.4% | -24.4% | -3.1% | -61.9% | -30.1% | +14.7% | -24.9% | -61.5% | +16.8% | -59.6% | +0.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Shell plc's Debt/EBITDA ratio is 7.9x, up from 5.4x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.42 | 0.41 | 0.42 | 0.43 | 0.40 | 0.40 | 0.42 | 0.43 | 0.43 | 0.44 | 0.44 |
| — | +39.3% | +2.9% | +2.5% | -0.2% | -1.2% | -5.1% | -8.2% | -2.5% | -0.4% | -1.2% | +1.9% | -9.1% | |
| Debt / EBITDA | 1.97 | 7.85 | 5.44 | 6.59 | 5.24 | 9.36 | 5.90 | 5.51 | 4.97 | 3.92 | 4.93 | 6.49 | 4.31 |
| — | -16.1% | -7.8% | +19.6% | +5.5% | +138.6% | +19.7% | -15.1% | +15.2% | -8.9% | -8.2% | +82.1% | -5.7% | |
| Current Ratio | 1.30 | 1.30 | 1.35 | 1.32 | 1.32 | 1.35 | 1.40 | 1.41 | 1.42 | 1.40 | 1.48 | 1.46 | 1.47 |
| — | -3.4% | -3.5% | -6.0% | -7.0% | -4.2% | -5.7% | -3.8% | -3.4% | +2.7% | +7.9% | +5.0% | +9.3% | |
| Quick Ratio | 1.03 | 1.03 | 1.10 | 1.07 | 1.08 | 1.10 | 1.13 | 1.12 | 1.14 | 1.13 | 1.17 | 1.18 | 1.19 |
| — | -6.3% | -3.1% | -4.3% | -5.0% | -2.9% | -3.0% | -5.4% | -4.4% | +2.5% | +7.7% | +8.5% | +10.3% | |
| Interest Coverage | 6.58 | 6.28 | 6.13 | 5.59 | 8.46 | 1.88 | 6.31 | 6.51 | 8.77 | 5.64 | 9.69 | 6.01 | 12.05 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonShell plc's current P/E is 13.9x. The average P/E over the last 4 quarters is 12.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Shell plc's current operating margin is 11.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Shell plc's business trajectory between earnings reports.