Shell (SHEL) Cost of Revenue (2009 - 2025)

Shell (SHEL) has reported Cost of Revenue for 17 consecutive years, with $2.7 billion the latest figure, recorded in Q4 2025.

• Cost of Revenue for Q4 2025 came in at $2.7 billion, down 90.19% year-over-year; the trailing twelve-month figure through Dec 2025 was $54.0 billion (down 49.79% YoY), and the FY2025 annual result was $177.2 billion, down 5.81% from the prior year.
• Cost of Revenue was $2.7 billion for Q4 2025 at Shell, down from $3.0 billion in the prior quarter.
• Over five years, Cost of Revenue peaked at $66.7 billion in Q2 2022 and troughed at $481.0 million in Q4 2021.
• Average Cost of Revenue over 5 years is $16.6 billion, with a median of $2.6 billion recorded in 2025.
• Year-over-year, Cost of Revenue surged 4543.12% in 2024 and tumbled 94.94% in 2025.
• Over 5 years, Cost of Revenue stood at $481.0 million in 2021, then soared by 151.56% to $1.2 billion in 2022, then decreased by 10.0% to $1.1 billion in 2023, then surged by 2427.46% to $27.5 billion in 2024, then slumped by 90.19% to $2.7 billion in 2025.
• Per Business Quant data, the three most recent Cost of Revenue figures were $2.7 billion in Q4 2025, $3.0 billion in Q3 2025, and $2.5 billion in Q2 2025.