Shell (SHEL) Debt Ratio (2009 - 2026)

Shell's (SHEL) quarterly Debt Ratio came in at 0.23 in Q1 2026, little changed YoY from 0.23 in Q1 2025, and down 1.62% on a QoQ basis from 0.23 in Q4 2025.

Shell (SHEL) Debt Ratio (2009 - 2026) Analysis & Trends

Shell (SHEL) has 15 years of Debt Ratio data on file, last reported at 0.23 in Q1 2026.

  • Quarterly Debt Ratio changed 0.28% year-over-year to 0.23 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.23 (changed 0.28% YoY) and the FY2025 annual result came in at 0.23, up 15.11% from the prior year.
  • Debt Ratio declined to 0.23 in Q1 2026, from 0.23 in the prior quarter.
  • In the past five years, Debt Ratio ranged from a high of 0.23 in Q4 2025 to a low of 0.19 in Q4 2022.
  • A 5-year average of 0.21 and a median of 0.22 in 2023 frame the typical range for Debt Ratio.
  • Annual changes were most pronounced in 2022 — Debt Ratio fell 29.12% — and 2025, when it grew 16.15%.
  • Tracing SHEL's Debt Ratio over 5 years: stood at 0.19 in 2022, then advanced by 6.11% to 0.2 in 2023, then declined by 0.92% to 0.2 in 2024, then grew by 15.11% to 0.23 in 2025, then decreased by 1.62% to 0.23 in 2026.
  • The last three Debt Ratio figures came in at 0.23 (Q1 2026), 0.23 (Q4 2025), and 0.22 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Petrobras - Petroleo Brasileiro 1,308.33 Bn -5,263.99 Bn 11.34 Bn 115.40
2 ExxonMobil Holdings 651.52 Bn 649.70 Bn - 0.10
3 Chevron 382.50 Bn 382.83 Bn 20.34 Bn 0.10
4 Eni Spa 205.81 Bn 195.97 Bn - 0.17
5 Shell 102.19 Bn 62.32 Bn 30.13 Bn -
6 Equinor Asa 98.30 Bn 89.04 Bn - 0.15
7 Suncor Energy 78.77 Bn 76.39 Bn 6.68 Bn 0.11
8 Imperial Oil 61.22 Bn 60.47 Bn - 0.09
9 TotalEnergies SE 25.61 Bn -6.11 Bn 18.79 Bn 0.20
10 Ypf Sociedad Anonima 20.09 Bn 18.40 Bn 1.76 Bn 0.28

Historic Data

Download Data
DateValue
Mar 31, 2026 0.23
Dec 31, 2025 0.23
Sep 30, 2025 0.22
Jun 30, 2025 0.22
Mar 31, 2025 0.23
Dec 31, 2024 0.20
Sep 30, 2024 0.22
Jun 30, 2024 0.19
Mar 31, 2024 0.23
Dec 31, 2023 0.20
Sep 30, 2023 0.22
Jun 30, 2023 0.20
Mar 31, 2023 0.22
Dec 31, 2022 0.19
Sep 30, 2022 0.21
Jun 30, 2022 0.20
Mar 31, 2022 0.22
Dec 31, 2021 0.22
Sep 30, 2021 0.26
Jun 30, 2021 0.28