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
Depreciation & Amortization Expenses	25,299	26,872	31,290	18,529	26,921
Research & Development	1,170	1,099	1,287	1,075	815
Exploration Expenses	1,136	2,411	1,750	1,712	1,423
Total Operating Expenses	40,212	42,821	47,760	34,199	40,487
Operating Income	27,582	29,992	30,737	63,109	22,283
Interest Income	6,845	4,717	6,563	4,887	11,153
Interest Expense	-4,671	-4,787	-4,673	-3,181	-3,607
Total Non-Operating Income (Expense)	2,174	-70	1,890	1,706	7,546
Pretax Income	29,756	29,922	32,627	64,815	29,829
Provision for Income Taxes	11,637	13,401	12,991	21,941	9,199
Net Income	17,837	16,094	19,359	42,309	20,101
Minority Interest in Earnings	282	427	277	565	529
Net Income to Common	17,837	16,094	19,359	42,309	20,101
Net Income Growth	10.83%	-16.87%	-54.24%	110.48%	-
Shares Outstanding (Basic)	2,945	3,150	3,367	3,674	3,881
Shares Outstanding (Diluted)	2,974	3,182	3,400	3,705	3,903
Shares Change (YoY)	-6.52%	-6.41%	-8.24%	-5.08%	0.14%
EPS (Basic)	6.06	5.10	5.76	11.52	5.18
EPS (Diluted)	6.00	5.06	5.70	11.42	5.14
EPS Growth	18.58%	-11.23%	-50.09%	122.18%	-
Shares Outstanding	2,945	3,058	3,262	3,502	3,842
Free Cash Flow	23,916	35,086	31,198	45,814	26,104
Free Cash Flow Growth	-31.84%	12.46%	-31.90%	75.51%	48.99%
Free Cash Flow Per Share	8.04	11.03	9.18	12.36	6.69
Dividends 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	10.33%	10.55%	9.71%	16.55%	8.52%
Profit Margin	6.79%	5.81%	6.20%	11.24%	7.89%
FCF Margin	8.96%	12.34%	9.85%	12.01%	9.98%
EBITDA	52,881	56,864	62,027	81,638	49,204
EBITDA Margin	19.81%	20.00%	19.59%	21.41%	18.82%
EBIT	27,582	29,992	30,737	63,109	22,283
EBIT Margin	10.33%	10.55%	9.71%	16.55%	8.52%
Effective Tax Rate	39.11%	44.79%	39.82%	33.85%	30.84%

Updated Feb 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q