Shell plc (SHEL) quarterly income statement — complete revenue, gross profit & net income history
Shell plc (SHEL) annual income statement — 28-year revenue, gross profit & net income history
| 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 |
|---|
| Sales/Revenue | 94.66B | 69.69B | 64.09B | 68.15B | 65.41B | 69.23B | 66.28B | 71.09B | 74.46B | 72.48B | 78.73B | 76.35B | 74.58B | 86.96B | 101.3B | 95.75B | 100.06B | 84.2B | 85.28B | 60.04B |
| Revenue Growth % | 44.73% | 0.66% | -3.3% | -4.13% | -12.16% | -4.48% | -15.81% | -6.89% | -0.15% | -16.65% | -22.28% | -20.26% | -25.47% | 3.27% | 18.79% | 59.46% | 65.35% | 51.27% | 93.87% | 36.4% |
| Cost of Goods Sold | 76.19B | 56.26B | 56.81B | 56.58B | 55.68B | 56.53B | 59.45B | 59.94B | 62.56B | 58.33B | 67.54B | 61.24B | 63.24B | 69.21B | 79.17B | 82.26B | 78.63B | 67.07B | 69.54B | 55.94B |
| COGS % of Revenue | 80.48% | 80.72% | 88.64% | 83.01% | 85.13% | 81.65% | 89.69% | 84.32% | 84.02% | 80.48% | 85.78% | 80.21% | 84.8% | 79.59% | 78.15% | 85.91% | 78.58% | 79.66% | 81.54% | 93.16% |
| Gross Profit | 18.48B | 13.43B | 7.28B | 11.58B | 9.73B | 12.71B | 6.83B | 11.15B | 11.9B | 14.15B | 11.19B | 15.11B | 11.34B | 17.75B | 22.14B | 13.49B | 21.43B | 17.13B | 15.74B | 4.1B |
| Gross Margin % | 19.52% | 19.28% | 11.36% | 16.99% | 14.87% | 18.35% | 10.31% | 15.68% | 15.98% | 19.52% | 14.22% | 19.79% | 15.2% | 20.41% | 21.85% | 14.09% | 21.42% | 20.34% | 18.46% | 6.83% |
| Gross Profit Growth % | 89.92% | 5.74% | 6.53% | 3.84% | -18.24% | -10.2% | -38.95% | -26.2% | 4.95% | -20.3% | -49.43% | 11.98% | -47.11% | 3.63% | 40.64% | 228.7% | 119.93% | 99.37% | 79.37% | 15.28% |
| Operating Expenses | 3.3B | 3.07B | 4.12B | 3.84B | 3.71B | 3.23B | 4.42B | 3.74B | 3.85B | 3.94B | 4.56B | 4.15B | 4.05B | 3.71B | 4.54B | 3.87B | 3.56B | 3.7B | 3.45B | 3.56B |
| OpEx % of Revenue | 3.48% | 4.4% | 6.43% | 5.64% | 5.68% | 4.67% | 6.67% | 5.26% | 5.17% | 5.43% | 5.79% | 5.44% | 5.44% | 4.26% | 4.48% | 4.04% | 3.56% | 4.39% | 4.05% | 5.93% |
| Selling, General & Admin | 2.91B | 2.8B | 3.43B | 3.26B | 3.08B | 2.84B | 3.23B | 3.14B | 3.09B | 2.98B | 3.62B | 3.45B | 3.31B | 3.05B | 3.49B | 3.23B | 2.92B | 3.24B | 2.87B | 2.89B |
| SG&A % of Revenue | 3.08% | 4.02% | 5.35% | 4.78% | 4.7% | 4.1% | 4.87% | 4.42% | 4.16% | 4.1% | 4.6% | 4.51% | 4.44% | 3.51% | 3.45% | 3.37% | 2.92% | 3.85% | 3.36% | 4.82% |
| Research & Development | 277M | 167M | 298M | 409M | 278M | 185M | 331M | 294M | 263M | 212M | 469M | 267M | 297M | 253M | 403M | 220M | 264M | 189M | 304M | 145M |
| R&D % of Revenue | 0.29% | 0.24% | 0.46% | 0.6% | 0.43% | 0.27% | 0.5% | 0.41% | 0.35% | 0.29% | 0.6% | 0.35% | 0.4% | 0.29% | 0.4% | 0.23% | 0.26% | 0.22% | 0.36% | 0.24% |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 15.18B | 10.37B | 3.16B | 7.73B | 6.01B | 9.47B | 2.41B | 7.41B | 8.04B | 10.21B | 6.63B | 10.96B | 7.28B | 14.04B | 17.59B | 9.62B | 17.88B | 13.43B | 12.29B | 541M |
| Operating Margin % | 16.03% | 14.87% | 4.93% | 11.35% | 9.19% | 13.68% | 3.64% | 10.42% | 10.8% | 14.09% | 8.43% | 14.35% | 9.76% | 16.15% | 17.37% | 10.04% | 17.87% | 15.95% | 14.41% | 0.9% |
| Operating Income Growth % | 152.4% | 9.46% | 30.97% | 4.37% | -25.26% | -7.26% | -63.65% | -32.37% | 10.48% | -27.29% | -62.29% | 13.92% | -59.26% | 4.55% | 43.16% | 1677.63% | 192.76% | 136.54% | 122.75% | -26.79% |
| EBITDA | 20.74B | 16.1B | 8.91B | 13.56B | 11.48B | 14.91B | 8.24B | 12.99B | 13.69B | 16.09B | 20.8B | 16.67B | 12.99B | 19.74B | 19.46B | 15.28B | 23.48B | 18.82B | 18.73B | 6.55B |
| EBITDA Margin % | 21.9% | 23.11% | 13.9% | 19.89% | 17.55% | 21.54% | 12.43% | 18.27% | 18.38% | 22.2% | 26.43% | 21.84% | 17.42% | 22.7% | 19.21% | 15.96% | 23.47% | 22.35% | 21.97% | 10.9% |
| EBITDA Growth % | 80.69% | 8% | 8.11% | 4.38% | -16.15% | -7.34% | -60.39% | -22.1% | 5.37% | -18.48% | 6.91% | 9.1% | -44.69% | 4.89% | 3.88% | 133.46% | 95.77% | 62.6% | -30.09% | -22.33% |
| D&A (Non-Cash Add-back) | 5.56B | 5.74B | 5.75B | 5.82B | 5.46B | 5.44B | 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 |
| EBIT | 16.87B | 10.8B | 8.16B | 9.21B | 7.05B | 10.08B | 5.49B | 8.44B | 8.64B | 12.21B | 2.75B | 12.42B | 6.56B | 15.52B | 17.37B | 12.17B | 26.86B | 12.54B | 17.23B | 2.05B |
| Net Interest Income | -799M | -1.1B | -811M | -816M | -516M | -554M | -1.1B | -396M | -545M | -357M | -575.97M | -318M | -499M | -494M | -478M | -319M | -400M | -1.66B | -790M | -627M |
| Interest Income | 315M | 372M | 452M | 468M | 559M | 566M | 185M | 778M | 690M | 807M | 600.18M | 813M | 712M | 671M | 445M | 415M | 295M | 111M | 173M | 232M |
| Interest Expense | 1.11B | 1.47B | 1.26B | 1.28B | 1.07B | 1.12B | 1.28B | 1.17B | 1.24B | 1.16B | 1.18B | 1.13B | 1.21B | 1.17B | 923M | 734M | 695M | 1.77B | 963M | 859M |
| Other Income/Expense | 577M | -1.04B | 3.74B | 190M | -38M | -511M | 1.79B | -140M | -641M | 833M | -5B | 335M | -1.93B | 310M | -1.15B | 1.82B | 8.28B | -2.66B | 3.98B | 652M |
| Pretax 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 |
| Pretax Margin % | 16.64% | 13.38% | 10.76% | 11.63% | 9.14% | 12.94% | 6.34% | 10.23% | 9.94% | 15.24% | 2.08% | 14.79% | 7.17% | 16.51% | 16.23% | 11.94% | 26.14% | 12.8% | 19.08% | 1.99% |
| Income Tax | 4.95B | 3.57B | 2.72B | 2.5B | 2.33B | 4.08B | 3.16B | 2.88B | 3.75B | 3.6B | 1.1B | 4.12B | 2.19B | 5.58B | 5.97B | 4.59B | 7.92B | 3.46B | 4.67B | 1.51B |
| Effective Tax Rate % | 31.41% | 38.27% | 39.42% | 31.6% | 39.03% | 45.57% | 75.24% | 39.6% | 50.7% | 32.63% | 67.26% | 36.44% | 41.04% | 38.89% | 36.34% | 40.11% | 30.28% | 32.08% | 28.67% | 126.57% |
| Net Income | 10.82B | 5.69B | 4.13B | 5.32B | 3.6B | 4.78B | 928M | 4.29B | 3.52B | 7.36B | 472M | 7.04B | 3.13B | 8.71B | 10.41B | 6.74B | 18.04B | 7.12B | 11.46B | -447M |
| Net Margin % | 11.43% | 8.17% | 6.45% | 7.81% | 5.51% | 6.9% | 1.4% | 6.04% | 4.72% | 10.15% | 0.6% | 9.23% | 4.2% | 10.02% | 10.28% | 7.04% | 18.03% | 8.45% | 13.44% | -0.74% |
| Net Income Growth % | 200.5% | 19.12% | 345.47% | 24.03% | 2.39% | -35.04% | 96.61% | -39.08% | 12.22% | -15.51% | -95.47% | 4.46% | -82.63% | 22.39% | -9.17% | 1608.5% | 426.25% | 25.72% | 385.53% | -191.41% |
| Net Income (Continuing) | 10.8B | 5.76B | 4.18B | 5.42B | 3.64B | 4.88B | 1.04B | 4.39B | 3.65B | 7.44B | 534M | 7.18B | 3.15B | 8.77B | 10.47B | 6.85B | 18.24B | 7.32B | 11.61B | -317M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 995M | 1.02B | 928M | 2B | 1.95B | 1.86B | 1.86B | 1.86B | 1.78B | 1.74B | 1.75B | 1.75B | 1.63B | 2.21B | 2.13B | 3.71B | 3.8B | 3.54B | 3.36B | 3.29B |
| EPS (Diluted) | 3.84 | 2.00 | 1.42 | 1.80 | 1.20 | 1.50 | 0.30 | 1.36 | 1.10 | 2.26 | 0.14 | 2.10 | 0.92 | 2.50 | 2.92 | 1.84 | 4.80 | 1.86 | 2.96 | -0.11 |
| EPS Growth % | 220% | 33.33% | 373.33% | 32.35% | 9.09% | -33.63% | 114.29% | -35.24% | 19.57% | -9.6% | -95.21% | 14.13% | -80.83% | 34.41% | -1.35% | 1772.73% | 445.45% | 29.17% | 384.62% | -191.67% |
| EPS (Basic) | 3.88 | 2.00 | 1.44 | 1.82 | 1.22 | 1.52 | 0.30 | 1.38 | 1.10 | 2.28 | 0.14 | 2.12 | 0.92 | 2.52 | 2.94 | 1.86 | 4.84 | 1.88 | 2.98 | -0.12 |
| Diluted Shares Outstanding | 2.82B | 2.85B | 2.9B | 2.95B | 3B | 3.18B | 3.11B | 3.2B | 3.21B | 3.25B | 3.32B | 3.37B | 3.43B | 3.49B | 3.56B | 3.67B | 3.76B | 3.83B | 3.87B | 3.89B |
| Basic Shares Outstanding | 2.79B | 2.83B | 2.87B | 2.92B | 2.97B | 3.15B | 3.07B | 3.16B | 3.2B | 3.22B | 3.28B | 3.33B | 3.4B | 3.46B | 3.53B | 3.64B | 3.73B | 3.8B | 3.85B | 3.89B |
| Dividend Payout Ratio | 20% | 36.88% | 50.05% | 39.52% | 58.93% | 45.59% | 227.8% | 50.5% | 61.9% | 30.04% | 466.31% | 30.93% | 63.27% | 23.3% | 17.15% | 26.96% | 10.26% | 27.4% | 16.05% | - |