Shell plc (SHEL) income statement
NYSE · Energy · Oil & Gas Integrated · 84,000 employees · CEO Wael Sawan
- Price
- $108.69 +0.95%
- Market cap
- $309B
- Enterprise value
- $347B
- Last report
- Q3 '26 filed 2026-09-30
- Next report
- 2027-02-04 EPS est. $3.41
Shell plc (SHEL) reported revenue of $92.8B for Q3 '26 (+36.2% year on year), operating income of $17.6B (19.0% of revenue) and net income of $12.1B. Over the last four quarters revenue was $321B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $78.7B | $72.5B | $74.5B | $71.1B | $66.3B | $69.2B | $65.4B | $68.2B | $64.1B | $69.7B | $94.7B | $92.8B | |
| Cost of revenue | $67.5B | $58.3B | $62.6B | $59.9B | $59.4B | $56.5B | $55.7B | $56.6B | $56.8B | $56.3B | $76.2B | $72.6B | |
| Gross profit | $11.2B | $14.1B | $11.9B | $11.1B | $6.83B | $12.7B | $9.73B | $11.6B | $7.28B | $13.4B | $18.5B | $20.2B | |
| Research & development | $469M | $212M | $263M | $294M | $331M | $185M | $278M | $409M | $298M | $167M | $277M | $232M | |
| General & administrative | $3.62B | $2.98B | $3.09B | $3.14B | $3.23B | $2.84B | $3.08B | $3.26B | $3.43B | $2.8B | $2.91B | $2.54B | |
| Other operating expenses | $467M | $750M | $496M | $305M | $860M | $210M | $360M | $175M | $391M | $98M | $110M | -$179M | |
| Operating expenses | $4.56B | $3.94B | $3.85B | $3.74B | $4.42B | $3.24B | $3.72B | $3.84B | $4.12B | $3.07B | $3.3B | $2.59B | |
| Operating income | $6.64B | $10.2B | $8.05B | $7.41B | $2.41B | $9.47B | $6.01B | $7.73B | $3.16B | $10.4B | $15.2B | $17.6B | |
| Interest income | $600M | $807M | $690M | $778M | $185M | $566M | $559M | $468M | $452M | $372M | $315M | $425M | |
| Interest expense | $1.18B | $1.16B | $1.24B | $1.17B | $1.29B | $1.12B | $1.08B | $1.28B | $1.26B | $1.47B | $1.11B | $1.17B | |
| Other non-operating income (gains on investments, FX ...) | $3.88B | -$2B | -$594M | -$1.03B | -$3.08B | -$609M | -$1.04B | -$1.47B | -$5B | -$435M | -$1.69B | $0 | |
| Total non-operating income | -$5B | $833M | -$641M | -$140M | $1.79B | -$511M | -$38M | $190M | $3.74B | -$1.04B | $577M | $386M | |
| Income before tax | $1.63B | $11B | $7.4B | $7.27B | $4.21B | $8.96B | $5.98B | $7.92B | $6.9B | $9.33B | $15.8B | $18B | |
| Income tax | $1.1B | $3.6B | $3.75B | $2.88B | $3.16B | $4.08B | $2.33B | $2.5B | $2.72B | $3.57B | $4.95B | $5.84B | |
| Net income | $472M | $7.36B | $3.52B | $4.29B | $928M | $4.78B | $3.6B | $5.32B | $4.13B | $5.69B | $10.8B | $12.1B | |
| EPS (basic) | $0.14 | $2.28 | $1.10 | $1.38 | $0.30 | $1.52 | $1.22 | $1.82 | $1.44 | $2.00 | $3.88 | $4.30 | |
| EPS (diluted) | $0.14 | $2.26 | $1.10 | $1.36 | $0.30 | $1.50 | $1.20 | $1.80 | $1.42 | $2.00 | $3.84 | $4.26 | |
| Shares (basic, weighted) | 3.28B | 3.22B | 3.2B | 3.16B | 3.07B | 3.15B | 2.97B | 2.92B | 2.87B | 2.83B | 2.79B | 2.8B | |
| Shares (diluted, weighted) | 3.32B | 3.25B | 3.21B | 3.2B | 3.11B | 3.18B | 3B | 2.95B | 2.9B | 2.85B | 2.82B | 2.83B | |
| Depreciation & amortization | $14.2B | $5.88B | $5.64B | $5.58B | $5.83B | $5.15B | $5.46B | $5.82B | $5.75B | $5.74B | $5.56B | $5.67B | |
| EBITDA | $16.9B | $18.1B | $14.3B | $14B | $11.3B | $15.2B | $12.5B | $15B | $13.9B | $16.5B | $22.4B | $23.3B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $234B | $305B | $388B | $345B | $181B | $262B | $381B | $317B | $284B | $267B | |
| Cost of revenue | $216B | $276B | $344B | $308B | $194B | $226B | $303B | $269B | $238B | $224B | |
| Gross profit | $17.6B | $28.9B | $44.9B | $36.8B | -$13B | $35.8B | $78.8B | $47.2B | $45.9B | $42.5B | |
| Research & development | $1.01B | $922M | $986M | $962M | $907M | $815M | $1.08B | $1.29B | $1.1B | $1.17B | |
| General & administrative | $12.1B | $10.5B | $11.4B | $10.5B | $9.88B | $11.3B | $12.9B | $13.4B | $12.4B | $12.6B | |
| Other operating expenses | $2.11B | $1.95B | $1.34B | $2.35B | $1.75B | $1.42B | $1.71B | $1.75B | $2.41B | $1.14B | |
| Operating expenses | $15.2B | $13.4B | $13.7B | $13.8B | $12.5B | $13.6B | $15.7B | $16.5B | $15.9B | $14.9B | |
| Operating income | $2.37B | $15.5B | $31.2B | $22.9B | -$25.5B | $22.3B | $63.1B | $30.7B | $30B | $27.6B | |
| Interest income | $451M | $904M | $876M | $1.08B | $679M | $539M | $1.05B | $2.57B | $2.37B | $1.96B | |
| Interest expense | $3.5B | $3.93B | $3.58B | $4.56B | $4.21B | $3.61B | $5.35B | $4.63B | $4.86B | $4.74B | |
| Other non-operating income (gains on investments, FX ...) | -$6.74B | -$6.58B | -$8.01B | -$7.1B | -$2.77B | -$11.2B | -$7.05B | -$6.52B | -$4.79B | -$6.92B | |
| Total non-operating income | $3.24B | $2.65B | $4.43B | $2.54B | -$1.44B | $7.55B | $1.71B | $1.89B | -$70M | $2.17B | |
| Income before tax | $5.61B | $18.1B | $35.6B | $25.5B | -$27B | $29.8B | $64.8B | $32.6B | $29.9B | $29.8B | |
| Income tax | $829M | $4.7B | $11.7B | $9.05B | -$5.43B | $9.2B | $21.9B | $13B | $13.4B | $11.6B | |
| Net income | $4.58B | $13B | $23.4B | $15.8B | -$21.7B | $20.1B | $42.3B | $19.4B | $16.1B | $17.8B | |
| EPS (basic) | $1.16 | $3.16 | $5.64 | $3.94 | -$5.56 | $5.18 | $11.52 | $5.76 | $5.10 | $6.06 | |
| EPS (diluted) | $1.16 | $3.12 | $5.60 | $3.90 | -$5.56 | $5.14 | $11.42 | $5.70 | $5.06 | $6.00 | |
| Shares (basic, weighted) | 3.92B | 4.11B | 4.14B | 4.03B | 3.9B | 3.88B | 3.67B | 3.31B | 3.15B | 2.95B | |
| Shares (diluted, weighted) | 3.95B | 4.15B | 4.17B | 4.06B | 3.9B | 3.9B | 3.71B | 3.4B | 3.18B | 2.97B | |
| Depreciation & amortization | $25B | $26.2B | $21.7B | $25.1B | $25B | $23.1B | $22.4B | $23.1B | $22.7B | $22.2B | |
| EBITDA | $34.1B | $48.3B | $60.9B | $55.2B | $2.22B | $56.5B | $92.6B | $60.4B | $57.5B | $56.7B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates: Financial Modeling Prep.
Data as of 2026-11-01