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SHEL

Shell plc

SHEL

Shell plc • NYSE
$73.77 ▲ 0.49% (+0.36)
Market Cap $214.34 B
52w High $77.47
52w Low $58.55
Dividend Yield 2.86%
P/E 15.06
Volume 1.68M
Outstanding Shares 2.91B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $67.744B ▲ $3.513B ▼ $5.29B ▲ 7.809% ▲ $1.8 ▲ $14.941B ▲
Q2-2025 $65.406B ▼ $3.715B ▲ $3.601B ▼ 5.506% ▼ $1.22 ▼ $12.513B ▼
Q1-2025 $69.234B ▲ $3.235B ▼ $4.78B ▲ 6.904% ▲ $1.52 ▲ $15.209B ▲
Q4-2024 $66.281B ▼ $4.422B ▲ $928M ▼ 1.4% ▼ $0.3 ▼ $11.319B ▼
Q3-2024 $71.089B $3.738B $4.291B 6.036% $1.38 $14.022B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $33.053B ▲ $377.738B ▼ $199.915B ▼ $175.824B ▼
Q2-2025 $32.682B ▼ $387.92B ▼ $204.833B ▼ $181.136B ▲
Q1-2025 $35.601B ▼ $389.248B ▲ $208.579B ▲ $178.813B ▲
Q4-2024 $39.11B ▼ $387.609B ▼ $207.441B ▲ $178.307B ▼
Q3-2024 $42.252B $394.949B $205.411B $187.673B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.29B ▼ $11.769B ▼ $-2.675B ▲ $-8.578B ▲ $371M ▲ $7.241B ▲
Q2-2025 $5.975B ▼ $11.937B ▲ $-5.406B ▼ $-10.106B ▼ $-2.919B ▲ $6.487B ▲
Q1-2025 $8.959B ▲ $9.281B ▼ $-3.959B ▲ $-9.183B ▲ $-3.509B ▼ $5.533B ▼
Q4-2024 $4.205B ▼ $13.165B ▼ $-4.432B ▼ $-10.889B ▼ $-3.142B ▼ $6.676B ▼
Q3-2024 $7.27B $14.684B $-3.857B $-7.452B $4.104B $9.994B

Five-Year Company Overview

Income Statement

Income Statement Shell’s earnings over the last few years show how sensitive the business is to energy prices. After an exceptional profit spike during the 2022 energy boom, both revenue and profit have stepped down to more normal levels, though they remain solid by historical standards. The company has clearly moved from the deep loss of 2020 to a period of consistent profitability, but recent results are well below the peak year. Operating performance looks efficient, with healthy margins for a large integrated energy company, but investors should expect ongoing volatility as commodity prices and refining margins move up and down.

Balance Sheet

Balance Sheet Shell’s balance sheet appears relatively robust and gradually improving. Total assets have been fairly stable, equity has been building over time, and debt has been edged down from earlier, higher levels. The company keeps a sizable cash cushion, which supports flexibility through energy cycles. Overall leverage looks manageable for a business of this scale, and there is no obvious sign of financial strain, although the asset base is capital‑intensive and tied to long‑lived energy projects.

Cash Flow

Cash Flow Cash generation is a core strength. Shell has consistently produced strong operating cash flow in recent years, comfortably covering its investment spending. Free cash flow has been solid even after capital expenditures, suggesting the company can both reinvest in the business and return cash to shareholders when conditions allow. Capital spending has been steady rather than aggressive, which supports balance sheet stability while still funding major projects and the energy transition agenda.

Competitive Edge

Competitive Edge Shell is one of the world’s largest integrated energy companies, with advantages in scale, logistics, brand, and a broad mix of activities from production to refining, chemicals, and retail. Its leading position in liquefied natural gas and integrated gas is a notable competitive strength, supported by decades of project experience and global infrastructure. However, the long‑term durability of its edge is debated: traditional oil and gas advantages are solid, but the company faces intense competition, regulation, and uncertainty as energy systems decarbonize and new low‑carbon players emerge.

Innovation and R&D

Innovation and R&D Shell invests heavily in technology and R&D, and it has a long record of engineering “firsts” in liquefied natural gas, offshore developments, sour gas processing, and enhanced oil recovery. The company is also pushing digital technologies to improve safety, reliability, and efficiency. At the same time, Shell is trying to pivot this innovation engine toward the energy transition: carbon capture, hydrogen, biofuels, renewables, and EV charging. The strategic direction is clear, but the commercial returns and competitive position in these newer areas are still evolving and carry execution risk.

Summary

Overall, Shell looks like a mature energy giant that has restored profitability and cash generation after the 2020 downturn and the extreme swings of the pandemic and energy crisis years. Financially, it combines solid earnings power, a relatively sound balance sheet, and strong cash flows that can support both investment and shareholder distributions. Strategically, it benefits from scale, integration, and leading positions in gas and LNG, but it must manage declining traditional oil production, policy and climate pressures, and heavy investment needs in lower‑carbon businesses. The main opportunity is leveraging its technical and financial strength to remain a key energy provider in a decarbonizing world; the main risks are commodity volatility and the challenge of turning its newer, cleaner businesses into durable, profitable franchises.

NEWS

November 28, 2025 · 12:22 PM UTC

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November 28, 2025 · 11:41 AM UTC

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November 27, 2025 · 12:16 PM UTC

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