Shell

SHEL · LSE · GBp

3,596.50 GBp+0.21%+7.50 GBp

Close · October 2, 2026

At a glance

Revenue growth: −6.13%; 2025 vs 2024
Net income growth: +10.83%; 2025 vs 2024
Net margin: 6.7%; 2024: 5.7%

Financial data

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	266,886	284,312	316,620	381,314	261,504	180,543	344,877	388,379	305,179	233,591
Cost of revenue	199,092	211,499	238,123	284,006	198,734	141,094	279,421	321,369	250,099	191,008
Gross profit	67,794	72,813	78,497	97,308	62,770	39,449	65,456	67,010	55,080	42,583
Selling, general and administrative	13,366	13,228	14,315	13,714	12,112	10,813	11,629	12,251	11,557	13,375
Research and development	1,170	1,099	1,287	1,075	815	907	962	986	922	1,014
Operating income	29,834	33,452	34,630	64,331	24,814	-18,222	23,555	31,819	16,099	2,945
EBIT	29,834	33,452	34,630	64,331	24,814	-18,222	23,555	31,819	16,099	2,945
EBITDA	47,658	53,058	62,895	82,519	49,843	27,729	53,008	53,324	42,601	28,194
Interest expense	4,671	4,787	4,673	3,181	3,607	4,089	4,690	3,745	4,042	3,203
Pre-tax income	29,756	29,922	32,627	64,815	29,829	-26,967	25,485	35,621	18,130	5,606
Income tax	11,637	13,401	12,991	21,941	9,199	-5,433	9,053	11,715	4,695	829
Net income	17,837	16,094	19,359	42,309	20,101	-21,680	15,842	23,352	12,977	4,575
Net income to common shareholders	17,837	16,094	19,359	42,309	20,101	-21,680	15,842	23,352	12,977	4,575
Basic EPS	3.03	2.55	2.88	5.76	2.59	-2.78	1.97	2.82	1.58	0.58
Diluted EPS	3.00	2.53	2.85	5.71	2.57	-2.78	1.95	2.80	1.56	0.58
Average shares (basic)	5,891	6,300	6,734	7,348	7,762	7,796	8,058	8,283	8,223	7,834
Average shares (diluted)	5,949	6,364	6,800	7,411	7,807	7,796	8,113	8,349	8,299	7,892
Dividend per share	1.45	1.39	1.29	1.04	0.89	0.65	1.88	1.88	1.88	1.88