Shell plc (SHEL) Revenue History
Annual and quarterly revenue from 1998 to present
SHEL Revenue Over Time (1998–2025)
SHEL Revenue Growth History
15 of 27 years with positive growth- FY1998 revenue growth
- N/A
- FY1999 revenue growth
- +12.5%
- FY2000 revenue growth
- +41.6%
- FY2001 revenue growth
- -9.3%
- FY2002 revenue growth
- +23.2%
- FY2003 revenue growth
- +19.1%
- FY2004 revenue growth
- +34.3%
- FY2005 revenue growth
- +15.1%
- FY2006 revenue growth
- +3.9%
- FY2007 revenue growth
- +11.6%
- FY2008 revenue growth
- +30.9%
- FY2009 revenue growth
- -38.8%
- FY2010 revenue growth
- +29.1%
- FY2011 revenue growth
- +27.7%
- FY2012 revenue growth
- -0.6%
- FY2013 revenue growth
- -3.4%
- FY2014 revenue growth
- -6.7%
- FY2015 revenue growth
- -37.1%
- FY2016 revenue growth
- -11.8%
- FY2017 revenue growth
- +30.6%
- FY2018 revenue growth
- +27.3%
- FY2019 revenue growth
- -11.2%
- FY2020 revenue growth
- -47.6%
- FY2021 revenue growth
- +44.8%
- FY2022 revenue growth
- +45.8%
- FY2023 revenue growth
- -17.0%
- FY2024 revenue growth
- -10.2%
- FY2025 revenue growth
- -6.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $69.57B | +0.5% |
| Q4 2025 | $64.09B | -3.3% |
| Q3 2025 | $67.74B | -4.7% |
| Q2 2025 | $65.41B | -12.2% |
| Q1 2025 | $69.23B | -4.5% |
| Q4 2024 | $66.28B | -15.8% |
| Q3 2024 | $71.09B | -6.9% |
| Q2 2024 | $74.46B | -0.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SHEL's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SHEL Revenue Analysis (1998–2025)
Current Revenue & Growth
As of June 20, 2026, Shell plc (SHEL) generated trailing twelve-month (TTM) revenue of $266.82 billion, reflecting modest growth of +0.5% year-over-year. The most recent quarter (Q1 2026) recorded $69.57 billion in revenue, up 8.6% sequentially.
Historical Growth Trajectory
SHEL's 5-year compound annual growth rate (CAGR) stands at +8.1%, indicating steady revenue expansion. The 3-year CAGR of -11.2% is below the 5-year average, signalling a growth deceleration in recent years. Shell plc's highest annual revenue of $470.17 billion was recorded in 2011.
Revenue by Segment
SHEL's revenue is primarily driven by Natural Gas and Natural Gas Liquids (NGL) (41%), Crude Oil (26%), and Other Contracts (15%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Energy sector peers — including XOM (-4.5% YoY), CVX (-4.6% YoY), and BP (+3.9% YoY) — SHEL has outperformed the peer group in revenue growth. Compare SHEL vs XOM →
SHEL Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SHELCurrent | $266.8B | +0.5% | +8.1% | 10.3% | |
 XOM | $323.9B | -4.5% | +12.6% | 10.5% | |
 CVX | $184.4B | -4.6% | +14.3% | 9.0% | |
 BP | $189.3B | +3.9% | +12.3% | 8.2% | |
 TTE | $182.3B | -4.0% | +8.8% | 10.9% | |
 E | $78.9B | -11.1% | +12.4% | 7.3% |
SHEL Historical Revenue Data (1998–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $266.89B | -6.1% | $42.49B | 15.9% | $27.58B | 10.3% |
| 2024 | $284.31B | -10.2% | $45.94B | 16.2% | $29.99B | 10.5% |
| 2023 | $316.62B | -17.0% | $47.21B | 14.9% | $30.74B | 9.7% |
| 2022 | $381.31B | +45.8% | $78.78B | 20.7% | $63.11B | 16.6% |
| 2021 | $261.50B | +44.8% | $35.85B | 13.7% | $22.28B | 8.5% |
| 2020 | $180.54B | -47.6% | $-12,995,000,000 | -7.2% | $-25,530,000,000 | -14.1% |
| 2019 | $344.88B | -11.2% | $36.76B | 10.7% | $22.95B | 6.7% |
| 2018 | $388.38B | +27.3% | $44.88B | 11.6% | $31.19B | 8.0% |
| 2017 | $305.18B | +30.6% | $28.86B | 9.5% | $15.48B | 5.1% |
| 2016 | $233.59B | -11.8% | $17.59B | 7.5% | $2.37B | 1.0% |
| 2015 | $264.96B | -37.1% | $15.51B | 5.9% | $-3,261,000,000 | -1.2% |
| 2014 | $421.11B | -6.7% | $39.29B | 9.3% | $19.88B | 4.7% |
| 2013 | $451.24B | -3.4% | $48.14B | 10.7% | $26.87B | 6.0% |
| 2012 | $467.15B | -0.6% | $56.60B | 12.1% | $37.72B | 8.1% |
| 2011 | $470.17B | +27.7% | $60.35B | 12.8% | $42.60B | 9.1% |
Full Stock Analysis
Deep dive into SHEL consensus models and risk factors.
Should I Buy SHEL?
Wall Street verdict, signals, and target summaries.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
28+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
SHEL — Frequently Asked Questions
Quick answers to the most common questions about buying SHEL stock.
Is SHEL's revenue growth accelerating or slowing?
SHEL revenue growth is slowing. TTM revenue is $266.8B, up +0.5% year-over-year — below the 5-year CAGR of +8.1%. The deceleration suggests maturing end-markets or increased competition.
What is SHEL's revenue history from 1998 to 2026?
Shell plc (SHEL) revenue history spans 1998 to 2026. TTM revenue as of 2026 is $266.8B, growing at +0.5% YoY. The 5-year CAGR is +8.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SHEL's long-term revenue growth rate (CAGR)?
Shell plc's 5-year revenue CAGR of +8.1% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +0.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SHEL.
Why does SHEL's quarterly revenue fluctuate?
SHEL quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Shell plc's revenue data from 1998 to 2026 shows full historical quarterly detail on this page.
How is SHEL's revenue distributed by segment?
SHEL reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SHEL's revenue compare to industry peers?
Shell plc (SHEL) with TTM revenue of $266.8B and +0.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.