Shell plc (LON:SHEL)

Shell Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	267,342	266,886	284,312	316,620	381,314	261,504
Revenue Growth (YoY)	-4.88%	-6.13%	-10.20%	-16.97%	45.82%	44.84%
Cost of Revenue	198,214	199,092	211,499	238,123	284,006	198,734
Gross Profit	69,128	67,794	72,813	78,497	97,308	62,770
Selling, General & Admin	12,570	12,607	12,439	13,433	12,883	11,328
Research & Development	1,152	1,170	1,099	1,287	1,075	815
Operating Expenses	38,400	37,960	39,361	43,867	32,977	37,956
Operating Income	30,728	29,834	33,452	34,630	64,331	24,814
Interest Expense	-5,024	-4,671	-4,787	-4,673	-3,181	-3,607
Interest & Investment Income	1,996	2,042	2,455	2,362	1,262	602
Earnings From Equity Investments	910	1,618	2,993	3,725	3,972	4,097
Currency Exchange Gain (Loss)	-330	-537	-1,025	-458	-340	118
Other Non Operating Income (Expenses)	446	532	582	677	477	341
EBT Excluding Unusual Items	28,726	28,818	33,670	36,263	66,521	26,365
Impairment of Goodwill	-161	-161	-510	-635	-361	-167
Gain (Loss) on Sale of Assets	3,347	3,190	-288	257	642	5,995
Asset Writedown	-1,786	-2,091	-2,950	-3,258	-861	-2,364
Other Unusual Items	-	-	-	-	-1,126	-
Pretax Income	30,126	29,756	29,922	32,627	64,815	29,829
Income Tax Expense	11,124	11,637	13,401	12,991	21,941	9,199
Earnings From Continuing Operations	19,002	18,119	16,521	19,636	42,874	20,630
Minority Interest in Earnings	-251	-282	-427	-277	-565	-529
Net Income	18,751	17,837	16,094	19,359	42,309	20,101
Net Income to Common	18,751	17,837	16,094	19,359	42,309	20,101
Net Income Growth	38.73%	10.83%	-16.87%	-54.24%	110.48%	-
Shares Outstanding (Basic)	5,796	5,891	6,300	6,734	7,348	7,762
Shares Outstanding (Diluted)	5,853	5,949	6,364	6,800	7,411	7,807
Shares Change (YoY)	-6.50%	-6.52%	-6.41%	-8.24%	-5.08%	0.14%
EPS (Basic)	3.24	3.03	2.55	2.88	5.76	2.59
EPS (Diluted)	3.20	3.00	2.53	2.85	5.71	2.57
EPS Growth	47.82%	18.58%	-11.23%	-50.09%	122.18%	-
Free Cash Flow	20,688	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Per Share	3.54	4.02	5.51	4.59	6.18	3.34
Dividend Per Share	1.479	1.446	1.390	1.294	1.038	0.893
Dividend Growth	5.31%	4.03%	7.46%	24.68%	16.12%	36.83%
Gross Margin	25.86%	25.40%	25.61%	24.79%	25.52%	24.00%
Operating Margin	11.49%	11.18%	11.77%	10.94%	16.87%	9.49%
Profit Margin	7.01%	6.68%	5.66%	6.11%	11.10%	7.69%
Free Cash Flow Margin	7.74%	8.96%	12.34%	9.85%	12.02%	9.98%
EBITDA	49,132	47,658	53,058	62,895	82,519	49,843
EBITDA Margin	18.38%	17.86%	18.66%	19.86%	21.64%	19.06%
D&A For EBITDA	18,404	17,824	19,606	28,265	18,188	25,029
EBIT	30,728	29,834	33,452	34,630	64,331	24,814
EBIT Margin	11.49%	11.18%	11.77%	10.94%	16.87%	9.49%
Effective Tax Rate	36.93%	39.11%	44.79%	39.82%	33.85%	30.84%
Revenue as Reported	273,712	273,731	289,029	323,183	386,201	272,657

Source: S&P Global Market Intelligence. Standard template. Financial Sources.