Shell plc (SHEL) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
SHEL's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
SHEL Revenue Analysis (2014–2025)
As of March 1, 2026, Shell plc (SHEL) generated trailing twelve-month (TTM) revenue of $267.51 billion, reflecting slight decline in growth of -1.7% year-over-year. The most recent quarter (Q4 2025) recorded $65.13 billion in revenue, down 3.9% sequentially.
Looking at the longer-term picture, SHEL's 5-year compound annual growth rate (CAGR) stands at +8.2%, indicating steady revenue expansion. The company achieved its highest annual revenue of $421.11 billion in 2014.
Revenue diversification analysis shows SHEL's business is primarily driven by Oil Products (64%), Crude Oil (20%), and Power (6%). With over half of revenue concentrated in Oil Products, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including TTE (-6.7% YoY), BP (+0.0% YoY), and EQNR (+3.6% YoY), SHEL has underperformed the peer group in terms of revenue growth. Compare SHEL vs TTE →
Peer Comparison
Compare SHEL's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SHELCurrent | $267.5B | -1.7% | +8.2% | 11.5% | |
| TTE | $189.8B | -6.7% | +9.7% | 11.5% | |
| BP | $189.8B | +0.0% | +12.4% | 8.2% | |
| EQNR | $106.2B | +3.6% | +18.3% | 25.7% | |
| E | $88.8B | -5.5% | +4.9% | 5.9% | |
| SLNG | $73M | -2.4% | +9.3% | 4.6% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $267.51B | -5.9% | $44.59B | 16.7% | $30.79B | 11.5% |
| 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% |
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Start ComparisonFrequently Asked Questions
Is SHEL's revenue growth accelerating or slowing?
SHEL revenue growth slowed to -1.7%, below the 5-year CAGR of +8.2%. TTM revenue is $267.5B. The deceleration marks a shift from historical growth rates.
What is SHEL's long-term revenue growth rate?
Shell plc's 5-year revenue CAGR of +8.2% reflects the variable expansion pattern. Current YoY growth of -1.7% is near this long-term average.
How is SHEL's revenue distributed by segment?
SHEL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.