Shell Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	266,886	284,312	316,620	381,314	261,504
Revenue Growth (YoY)	-6.13%	-10.20%	-16.97%	45.82%	44.84%
Cost of Revenue	199,092	211,499	238,123	284,006	198,734
Gross Profit	67,794	72,813	78,497	97,308	62,770
Selling, General & Admin	12,607	12,439	13,433	12,883	11,328
Research & Development	1,170	1,099	1,287	1,075	815
Operating Expenses	37,081	39,361	43,867	32,977	37,956
Operating Income	30,713	33,452	34,630	64,331	24,814
Interest Expense	-4,671	-4,787	-4,673	-3,181	-3,607
Interest & Investment Income	1,960	2,455	2,362	1,262	602
Earnings From Equity Investments	1,618	2,993	3,725	3,972	4,097
Currency Exchange Gain (Loss)	-	-1,025	-458	-340	118
Other Non Operating Income (Expenses)	6,411	582	677	477	341
EBT Excluding Unusual Items	36,031	33,670	36,263	66,521	26,365
Impairment of Goodwill	-	-510	-635	-361	-167
Gain (Loss) on Sale of Investments	-3,143	-	-	-	-
Gain (Loss) on Sale of Assets	-	-288	257	642	5,995
Asset Writedown	-3,131	-2,950	-3,258	-861	-2,364
Other Unusual Items	-	-	-	-1,126	-
Pretax Income	29,757	29,922	32,627	64,815	29,829
Income Tax Expense	11,637	13,401	12,991	21,941	9,199
Earnings From Continuing Operations	18,120	16,521	19,636	42,874	20,630
Minority Interest in Earnings	-282	-427	-277	-565	-529
Net Income	17,838	16,094	19,359	42,309	20,101
Net Income to Common	17,838	16,094	19,359	42,309	20,101
Net Income Growth	10.84%	-16.87%	-54.24%	110.48%	-
Shares Outstanding (Basic)	5,891	6,300	6,734	7,348	7,762
Shares Outstanding (Diluted)	5,949	6,364	6,800	7,411	7,807
Shares Change (YoY)	-6.52%	-6.41%	-8.24%	-5.08%	0.14%
EPS (Basic)	3.03	2.55	2.88	5.76	2.59
EPS (Diluted)	3.00	2.53	2.85	5.71	2.57
EPS Growth	18.58%	-11.23%	-50.09%	122.18%	-
Free Cash Flow	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Per Share	4.02	5.51	4.59	6.18	3.34
Dividend Per Share	1.446	1.390	1.294	1.038	0.893
Dividend Growth	4.03%	7.46%	24.68%	16.12%	36.83%
Gross Margin	25.40%	25.61%	24.79%	25.52%	24.00%
Operating Margin	11.51%	11.77%	10.94%	16.87%	9.49%
Profit Margin	6.68%	5.66%	6.11%	11.10%	7.69%
Free Cash Flow Margin	8.96%	12.34%	9.85%	12.02%	9.98%
EBITDA	53,258	53,058	58,087	82,519	49,843
EBITDA Margin	19.96%	18.66%	18.35%	21.64%	19.06%
D&A For EBITDA	22,545	19,606	23,457	18,188	25,029
EBIT	30,713	33,452	34,630	64,331	24,814
EBIT Margin	11.51%	11.77%	10.94%	16.87%	9.49%
Effective Tax Rate	39.11%	44.79%	39.82%	33.85%	30.84%
Revenue as Reported	273,731	289,029	323,183	386,201	272,657

Updated Feb 5, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q