Shell (SHEL) Change in Working Capital (2009 - 2026)
Shell (SHEL) recorded Change in Working Capital of -$11.18 billion in Q1 2026, compared with -$2.66 billion a year earlier.
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Analysis
Shell (SHEL) Change in Working Capital (2009 - 2026) Analysis & Trends
On a TTM basis, Shell's Change in Working Capital came in at -$10.32 billion as of Mar 31, 2026; for FY2025, it was -$1.8 billion.
- Across earlier years, Change in Working Capital came in at $2.06 billion in FY2024 (-73.7%), $7.84 billion in FY2023, -$5.44 billion in FY2022 and -$10.37 billion in FY2021.
- The Q1 2026 figure is the lowest quarterly Change in Working Capital in data going back to Q1 2009.
- Per Business Quant, the preceding three quarters came in at $1.28 billion (Q4 2025), -$28 million (Q3 2025) and -$386 million (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Change Working Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn | - |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn | - |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - | 1.66 Bn |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - | 312.68 Mn |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn | - |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - | 1.79 Bn |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn | - |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - | -45.54 Mn |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - | 326.00 Mn |
| 10 | Eog Resources | 72.25 Bn | 56.57 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -11.18 Bn |
| Dec 31, 2025 | 1.28 Bn |
| Sep 30, 2025 | -28.00 Mn |
| Jun 30, 2025 | -386.00 Mn |
| Mar 31, 2025 | -2.66 Bn |
| Dec 31, 2024 | 2.41 Bn |
| Sep 30, 2024 | 2.67 Bn |
| Jun 30, 2024 | -258.00 Mn |
| Mar 31, 2024 | -2.75 Bn |
| Dec 31, 2023 | 7.15 Bn |
| Sep 30, 2023 | 221.00 Mn |
| Jun 30, 2023 | 4.84 Bn |
| Mar 31, 2023 | -646.00 Mn |
| Dec 31, 2022 | -5.02 Bn |
| Sep 30, 2022 | -4.16 Bn |
| Jun 30, 2022 | -4.24 Bn |
| Mar 31, 2022 | -7.43 Bn |
| Dec 31, 2021 | -2.97 Bn |
| Sep 30, 2021 | -1.45 Bn |
| Jun 30, 2021 | -1.56 Bn |
API Access
Shell Change in Working Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=change-in-working-capital&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "change-in-working-capital", "ticker": "SHEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=change-in-working-capital&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();