Shell Financial Statements
NYSE: SHELEnergyOil & Gas ProductionUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Shell revenue and earnings
In fiscal 2025, Shell generated $266.89 billion in revenue, down 6.1% from fiscal 2024, its first annual decline since 2024. Net income was $17.84 billion (+10.8% year over year), for a net margin of 6.7% versus a median of 6.1% in the prior 5 years. Over the last 5 fiscal years, SHEL's revenue has grown at a 8.1% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Shell income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 266.89B | 284.31B | 316.62B | 381.31B | 261.50B | 180.54B | 344.88B | 388.38B | 305.18B | 233.59B |
| Revenue growth (YoY) | -6.13% | -10.20% | -16.97% | +45.82% | +44.84% | -47.65% | -11.20% | +27.26% | +30.65% | -11.84% |
| Operating Expenses | 35.67B | 36.92B | 39.96B | 321.39B | 242.83B | 210.16B | 326.62B | 360.94B | 293.74B | 234.43B |
| Research & Development | 1.17B | 1.10B | 1.29B | 1.07B | 815.00M | 907.00M | 962.00M | 986.00M | 922.00M | 1.01B |
| Selling, General & Admin | 12.61B | 12.44B | 13.43B | 12.88B | 11.33B | 9.88B | 10.49B | 11.36B | 10.51B | 12.10B |
| Interest Expense | 4.67B | 4.79B | 4.67B | 3.18B | 3.61B | 4.09B | 4.69B | 3.75B | 4.04B | 3.20B |
| Pretax Income | 29.76B | 29.92B | 32.63B | 64.81B | 29.83B | -26.97B | 25.48B | 35.62B | 18.13B | 5.61B |
| Income Tax | 11.64B | 13.40B | 12.99B | 21.94B | 9.20B | -5.43B | 9.05B | 11.71B | 4.70B | 829.00M |
| Net Income | 17.84B | 16.09B | 19.36B | 42.31B | 20.10B | -21.68B | 15.84B | 23.35B | 12.98B | 4.58B |
| Net Income growth (YoY) | +10.83% | -16.87% | -54.24% | +110.48% | — | -236.85% | -32.16% | +79.95% | +183.65% | +135.95% |
| Shares Outstanding (Basic) | 5.89B | 6.30B | 6.73B | 7.35B | 7.76B | 7.80B | 8.06B | 8.28B | 8.22B | 7.83B |
| Shares Outstanding (Diluted) | 5.95B | 6.36B | 6.80B | 7.41B | 7.81B | 7.80B | 8.11B | 8.35B | 8.30B | 7.89B |
| Net Margin | 6.68% | 5.66% | 6.11% | 11.10% | 7.69% | -12.01% | 4.59% | 6.01% | 4.25% | 1.96% |
This table shows 10 annual periods of Shell's income statement, from FY 2025 back to FY 2016, across 11 line items including revenue, operating expenses, research & development. Values in USD; B = billions, M = millions. Fiscal periods follow SHEL's reporting calendar. What is a income statement?