Shell Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	321,295	266,886	284,312	316,620	381,314	261,504
Revenue Growth	19.41%	-6.13%	-10.20%	-16.97%	45.82%	44.84%
Cost of Revenue	234,784	199,092	211,499	238,123	284,006	198,734
Gross Profit	86,511	67,794	72,813	78,497	97,308	62,770
Selling, General & Admin	11,683	12,607	12,439	13,433	12,883	11,328
Research & Development	974	1,170	1,099	1,287	1,075	815
Operating Expenses	37,513	37,960	39,361	43,867	32,977	37,956
Operating Income	48,998	29,834	33,452	34,630	64,331	24,814
Interest Expense	-4,948	-4,671	-4,787	-4,673	-3,181	-3,607
Interest & Investment Income	1,617	2,042	2,455	2,362	1,262	602
Earnings From Equity Investments	1,216	1,618	2,993	3,725	3,972	4,097
Currency Exchange Gain (Loss)	-43	-537	-1,025	-458	-340	118
Other Non Operating Income (Expenses)	552	532	582	677	477	341
EBT Excluding Unusual Items	47,392	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	3,896	3,190	-288	257	642	5,995
Asset Writedown	-1,160	-2,091	-2,950	-3,258	-861	-2,364
Other Unusual Items	-	-	-	-	-1,126	-
Pretax Income	49,967	29,756	29,922	32,627	64,815	29,829
Income Tax Expense	17,078	11,637	13,401	12,991	21,941	9,199
Earnings From Continuing Operations	32,889	18,119	16,521	19,636	42,874	20,630
Minority Interest in Earnings	-182	-282	-427	-277	-565	-529
Net Income	32,707	17,837	16,094	19,359	42,309	20,101
Net Income to Common	32,707	17,837	16,094	19,359	42,309	20,101
Net Income Growth	123.55%	10.83%	-16.87%	-54.24%	110.48%	-
Shares Outstanding (Basic)	5,646	5,891	6,300	6,734	7,348	7,762
Shares Outstanding (Diluted)	5,697	5,949	6,364	6,800	7,411	7,807
Shares Change	-5.87%	-6.52%	-6.41%	-8.24%	-5.08%	0.14%
EPS (Basic)	5.79	3.03	2.55	2.88	5.76	2.59
EPS (Diluted)	5.74	3.00	2.53	2.85	5.71	2.57
EPS Growth	137.37%	18.58%	-11.23%	-50.09%	122.18%	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Free Cash Flow	37,361	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Per Share	6.56	4.02	5.51	4.59	6.18	3.34
Dividend Per Share	1.544	1.446	1.390	1.294	1.038	0.893
Dividend Growth	7.81%	4.03%	7.46%	24.68%	16.12%	36.83%
Gross Margin	26.93%	25.40%	25.61%	24.79%	25.52%	24.00%
Operating Margin	15.25%	11.18%	11.77%	10.94%	16.87%	9.49%
Profit Margin	10.18%	6.68%	5.66%	6.11%	11.10%	7.69%
Free Cash Flow Margin	11.63%	8.96%	12.34%	9.85%	12.02%	9.98%
EBITDA	67,563	47,658	53,058	62,895	82,519	49,843
EBITDA Margin	21.03%	17.86%	18.66%	19.86%	21.64%	19.06%
D&A For EBITDA	18,565	17,824	19,606	28,265	18,188	25,029
EBIT	48,998	29,834	33,452	34,630	64,331	24,814
EBIT Margin	15.25%	11.18%	11.77%	10.94%	16.87%	9.49%
Effective Tax Rate	34.18%	39.11%	44.79%	39.82%	33.85%	30.84%
Revenue as Reported	328,533	273,731	289,029	323,183	386,201	272,657