SHEL (Shell plc) Stock Financials & Earnings

Company Info & Key Metrics

Shell plc operates as an energy and petrochemical company Europe, Asia, Oceania, Africa, the United States, and Rest of the Americas. The company operates through Integrated Gas, Upstream, Marketing, ...

CEOWael Sawan

Country🇬🇧 United Kingdom

ExchangeNYSE

IPOOct 31, 1994

www.shell.com

Revenue$64.0B

YoY Growth-3.4%

QoQ Growth-5.5%

Net Income$4.1B

EPS$1.42

Free Cash Flow$3.4B

Gross Margin15.6%

Op. Margin9.8%

Net Margin6.5%

FCF Margin5.4%

Rev Multiple (TTM)0.9x

P/E Ratio (TTM)13.8x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$87.0B	$17.8B	$14.0B
Q2 23	$74.6B	$11.3B	$7.3B
Q3 23	$76.3B	$15.1B	$11.0B
Q4 23	$78.7B	$11.2B	$6.6B
Q1 24	$72.5B	$14.1B	$10.2B
Q2 24	$74.5B	$11.9B	$8.0B
Q3 24	$71.1B	$11.1B	$7.4B
Q4 24	$66.3B	$6.8B	$2.4B
Q1 25	$69.2B	$12.7B	$9.5B
Q2 25	$65.4B	$9.7B	$6.0B
Q3 25	$67.7B	$11.3B	$7.8B
Q4 25	$64.0B	$10.0B	$6.3B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	0.6x	5.6x
Q2 23	0.7x	8.5x
Q3 23	0.7x	8.4x
Q4 23	0.8x	12.7x
Q1 24	0.8x	13.7x
Q2 24	0.8x	13.4x
Q3 24	0.8x	15.7x
Q4 24	0.9x	15.3x
Q1 25	0.9x	18.2x
Q2 25	0.9x	18.1x
Q3 25	0.9x	16.8x
Q4 25	0.9x	13.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$14.2B	$8.0B
Q2 23	$15.1B	$10.5B
Q3 23	$12.3B	$7.1B
Q4 23	$12.6B	$5.6B
Q1 24	$13.3B	$9.3B
Q2 24	$13.5B	$9.1B
Q3 24	$14.7B	$10.0B
Q4 24	$13.2B	$6.7B
Q1 25	$9.3B	$5.5B
Q2 25	$11.9B	$6.5B
Q3 25	$11.8B	$7.2B
Q4 25	$8.7B	$3.4B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$6.2B
Q2 23	$4.6B
Q3 23	$5.3B
Q4 23	$7.0B
Q1 24	$4.0B
Q2 24	$4.4B
Q3 24	$4.7B
Q4 24	$6.5B
Q1 25	$3.7B
Q2 25	$5.5B
Q3 25	$4.5B
Q4 25	$5.2B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+3.3%	+3.0%
Q2 23	-25.5%	-18.1%
Q3 23	-20.3%	-24.1%
Q4 23	-22.3%	-13.9%
Q1 24	-16.7%	-14.6%
Q2 24	-0.2%	-1.3%
Q3 24	-6.9%	-2.6%
Q4 24	-15.8%	-11.4%
Q1 25	-4.5%	-4.0%
Q2 25	-12.2%	-10.6%
Q3 25	-4.7%	-5.9%
Q4 25	-3.4%	-9.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$253M	$3.1B	—
Q2 23	$297M	$3.3B	—
Q3 23	$267M	$3.4B	—
Q4 23	$469M	$3.6B	—
Q1 24	$212M	$3.0B	—
Q2 24	$263M	$3.1B	—
Q3 24	$294M	$3.1B	—
Q4 24	$331M	$3.2B	—
Q1 25	$185M	$2.8B	—
Q2 25	$278M	$3.1B	—
Q3 25	$407M	$3.3B	—
Q4 25	$298M	—	$3.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$42.1B	$0	$42.1B
Q2 23	$45.1B	$0	$45.1B
Q3 23	$43.0B	$0	$43.0B
Q4 23	$38.8B	$0	$38.8B
Q1 24	$39.9B	$0	$39.9B
Q2 24	$38.1B	$0	$38.1B
Q3 24	$42.3B	$0	$42.3B
Q4 24	$39.1B	$0	$39.1B
Q1 25	$35.6B	$0	$35.6B
Q2 25	$32.7B	$0	$32.7B
Q3 25	$33.1B	$0	$33.1B
Q4 25	$30.2B	$0	$30.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	3.49B	-2.0%
Q2 23	3.43B	-1.8%
Q3 23	3.37B	-1.7%
Q4 23	3.32B	-1.6%
Q1 24	3.25B	-1.9%
Q2 24	3.21B	-1.3%
Q3 24	3.20B	-0.4%
Q4 24	3.11B	-2.8%
Q1 25	3.18B	+2.4%
Q2 25	3.00B	-5.6%
Q3 25	2.95B	-1.6%
Q4 25	2.90B	-1.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$84.2B	5
FY 15	$3M	90K
FY 16	$3M	89K
FY 17	$4M	84K
FY 18	$194.2B	2
FY 19	$21M	17K
FY 20	$11M	17K
FY 21	$3M	82K
FY 22	$4M	93K
FY 23	$3M	103K
FY 24	$3M	96K
FY 25	$3M	96K