Shell plc (LON:SHEL)

Shell Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	32,707	17,837	16,094	19,359	42,309	20,101
Depreciation & Amortization	24,165	23,424	25,034	28,265	18,188	25,029
Loss (Gain) From Sale of Assets	-3,896	-3,190	288	-246	-642	-5,995
Asset Writedown & Restructuring Costs	1,321	2,252	3,460	3,893	1,222	2,531
Loss (Gain) on Equity Investments	-1,216	-1,618	-2,993	-3,725	-3,972	-4,097
Other Operating Activities	11,991	5,961	10,742	-500	16,329	17,902
Change in Accounts Receivable	-14,846	2,240	6,578	12,401	-8,989	-20,567
Change in Inventory	-5,478	1,916	1,273	6,325	-8,360	-7,319
Change in Accounts Payable	13,228	-5,959	-5,789	-11,581	12,329	17,519
Operating Cash Flow	57,976	42,863	54,687	54,191	68,414	45,104
Operating Cash Flow Growth	24.44%	-21.62%	0.92%	-20.79%	51.68%	32.25%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-20,615	-18,947	-19,601	-22,993	-22,600	-19,000
Sale of Property, Plant & Equipment	2,992	1,148	1,621	2,565	1,431	14,233
Investment in Securities	-1,230	-730	-312	-874	-1,605	183
Other Investing Activities	1,899	1,718	3,137	3,568	326	-177
Investing Cash Flow	-16,954	-16,811	-15,155	-17,734	-22,448	-4,761

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	318	14
Long-Term Debt Issued	-	2,920	363	1,029	269	1,791
Total Debt Issued	2,658	2,920	363	1,029	587	1,805
Short-Term Debt Repaid	-	-262	-310	-211	-	-
Long-Term Debt Repaid	-	-11,806	-9,672	-10,650	-8,459	-21,534
Total Debt Repaid	-13,014	-12,068	-9,982	-10,861	-8,459	-21,534
Net Debt Issued (Repaid)	-10,356	-9,148	-9,619	-9,832	-7,872	-19,729
Repurchase of Common Stock	-13,563	-15,179	-14,687	-15,506	-19,030	-3,174
Common Dividends Paid	-8,485	-8,472	-8,668	-8,393	-7,405	-6,253
Other Financing Activities	-4,874	-3,013	-5,461	-4,504	-7,647	-5,508
Financing Cash Flow	-37,278	-35,812	-38,435	-38,235	-41,954	-34,664

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-371	866	-761	306	-736	-539
Net Cash Flow	3,372	-8,894	336	-1,472	3,276	5,140

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	37,361	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Growth	41.49%	-31.84%	12.46%	-31.90%	75.51%	48.99%
Free Cash Flow Margin	11.63%	8.96%	12.34%	9.85%	12.02%	9.98%
Free Cash Flow Per Share	6.56	4.02	5.51	4.59	6.18	3.34
Levered Free Cash Flow	29,048	22,735	28,543	28,211	25,715	18,687
Unlevered Free Cash Flow	32,141	25,654	31,535	31,132	27,703	20,942

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	4,354	4,104	4,557	4,441	3,677	4,014
Cash Income Tax Paid	11,091	11,638	12,002	13,712	13,120	5,476
Change in Working Capital	-7,096	-1,803	2,062	7,145	-5,020	-10,367

Data Source: S&P Global Market Intelligence Last updated: Oct 29, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 4, 2026

Data Sources Report a data error