Shell (SHEL) Change in Working Capital (2009 - 2026)

Shell's (SHEL) quarterly Change in Working Capital came in at -$11.2 billion in Q1 2026, down 319.79% YoY from $5.1 billion in Q1 2025, and down 976.78% on a QoQ basis from $1.3 billion in Q4 2025.

Shell (SHEL) Change in Working Capital (2009 - 2026) Analysis & Trends

Shell (SHEL) has 17 years of Change in Working Capital data on file, last reported at -$11.2 billion in Q1 2026.

  • Quarterly Change in Working Capital fell 319.79% year-over-year to -$11.2 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$10.3 billion (down 579.68% YoY) and the FY2025 annual result came in at -$1.8 billion, down 187.44% from the prior year.
  • Change in Working Capital declined to -$11.2 billion in Q1 2026, from $1.3 billion in the prior quarter.
  • In the past five years, Change in Working Capital ranged from a high of $10.4 billion in Q4 2022 to a low of -$11.2 billion in Q1 2026.
  • A 5-year average of -$544.5 million and a median of -$258.0 million in 2024 frame the typical range for Change in Working Capital.
  • The widest YoY moves for Change in Working Capital: up 1105.88% in 2024, down 326.01% in 2024.
  • Tracing SHEL's Change in Working Capital over 5 years: stood at $10.4 billion in 2022, then tumbled by 74.18% to $2.7 billion in 2023, then decreased by 10.29% to $2.4 billion in 2024, then tumbled by 47.03% to $1.3 billion in 2025, then sank by 976.78% to -$11.2 billion in 2026.
  • The last three Change in Working Capital figures came in at -$11.2 billion (Q1 2026), $1.3 billion (Q4 2025), and -$28.0 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Change in Working Capital (Qtr)
1 Petrobras - Petroleo Brasileiro 1,308.33 Bn -5,263.99 Bn 11.34 Bn -1.87 Bn
2 ExxonMobil Holdings 651.52 Bn 649.70 Bn - 1.76 Bn
3 Chevron 382.50 Bn 382.83 Bn 20.34 Bn -
4 Eni Spa 205.81 Bn 195.97 Bn - 3.51 Mn
5 Shell 102.19 Bn 62.32 Bn 30.13 Bn -
6 Equinor Asa 98.30 Bn 89.04 Bn - 1.79 Bn
7 Suncor Energy 78.77 Bn 76.39 Bn 6.68 Bn 43.75 Mn
8 Imperial Oil 61.22 Bn 60.47 Bn - -
9 TotalEnergies SE 25.61 Bn -6.11 Bn 18.79 Bn -1.66 Bn
10 Ypf Sociedad Anonima 20.09 Bn 18.40 Bn 1.76 Bn 24.00 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -11.18 Bn
Mar 31, 2026 -11.18 Bn
Dec 31, 2025 1.28 Bn
Dec 31, 2025 1.28 Bn
Sep 30, 2025 -28.00 Mn
Sep 30, 2025 -28.00 Mn
Jun 30, 2025 -386.00 Mn
Jun 30, 2025 -386.00 Mn
Mar 31, 2025 -2.66 Bn
Mar 31, 2025 -2.66 Bn
Dec 31, 2024 2.41 Bn
Dec 31, 2024 2.41 Bn
Sep 30, 2024 2.67 Bn
Sep 30, 2024 2.67 Bn
Jun 30, 2024 -258.00 Mn
Jun 30, 2024 -258.00 Mn
Mar 31, 2024 -2.75 Bn
Mar 31, 2024 -2.75 Bn
Dec 31, 2023 2.68 Bn
Dec 31, 2023 2.68 Bn