Shell

SHEL · NYSE · USD

$95.32+0.29%+$0.27

Close · October 1, 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 · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total revenue	94,664	69,691	64,093	68,152	65,405	69,235	66,282	71,089	74,464	72,478	78,732	76,350
Cost of revenue	70,006	50,520	47,931	50,754	49,008	51,398	49,449	54,363	55,010	52,677	61,552	55,528
Gross profit	24,658	19,171	16,162	17,398	16,397	17,837	16,833	16,726	19,454	19,801	17,180	20,822
Selling, general and administrative	2,911	2,803	3,432	3,258	3,077	2,840	3,231	3,139	3,094	2,975	3,622	3,447
Research and development	277	167	298	409	278	185	331	294	263	212	470	267
Operating income	15,800	10,365	5,411	7,733	7,219	9,471	5,873	7,410	9,959	10,211	2,344	10,957
EBIT	15,800	10,365	5,411	7,733	7,219	9,471	5,873	7,410	9,959	10,211	2,344	10,957
EBITDA	21,359	16,104	6,535	13,605	12,888	14,630	7,632	13,138	15,870	16,418	8,055	16,858
Interest expense	1,114	1,473	1,193	1,284	1,075	1,120	1,214	1,174	1,235	1,164	1,166	1,131
Pre-tax income	15,754	9,328	6,899	7,924	5,976	8,958	4,205	7,270	7,404	11,044	1,634	11,291
Income tax	4,949	3,570	2,719	2,504	2,332	4,083	3,164	2,879	3,754	3,604	1,100	4,115
Net income	10,821	5,694	4,134	5,322	3,601	4,780	928	4,291	3,517	7,358	472	7,044
Net income to common shareholders	10,821	5,694	4,134	5,322	3,601	4,780	928	4,291	3,517	7,358	472	7,044
Basic EPS	1.94	1.01	0.72	0.91	0.61	0.79	0.15	0.69	0.55	1.14	0.07	1.06
Diluted EPS	1.92	1.00	0.72	0.90	0.60	0.79	0.15	0.68	0.55	1.13	0.07	1.05
Average shares (basic)	5,589	5,654	5,740	5,846	5,948	6,034	6,148	6,257	6,355	6,440	6,558	6,668
Average shares (diluted)	5,637	5,704	5,800	5,906	6,005	6,088	6,214	6,321	6,418	6,504	6,631	6,737
Dividend per share	0.39	0.39	0.37	0.36	0.36	0.36	0.36	0.34	0.34	0.34	0.34	0.33