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.
Analysis
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 Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | 0.19 |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | 0.08 |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | 0.20 |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | 0.18 |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | 0.17 |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | 0.10 |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | 0.08 |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | 0.13 |
| 9 | Gas Transporter Of The South | 21.19 Bn | -3,019.86 Bn | - | - |
| 10 | Ypf Sociedad Anonima | 19.74 Bn | 17.54 Bn | 2.97 Bn | 0.26 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.19 |
| Mar 31, 2026 | 0.20 |
| Sep 30, 2025 | 0.22 |
| Jun 30, 2025 | 0.20 |
| Mar 31, 2025 | 0.23 |
| Sep 30, 2024 | 0.22 |
| Jun 30, 2024 | 0.19 |
| Mar 31, 2024 | 0.23 |
| Dec 31, 2023 | 0.31 |
| Sep 30, 2023 | 0.20 |
| Jun 30, 2023 | 0.20 |
| Mar 31, 2023 | 0.20 |
| Sep 30, 2022 | 0.19 |
| Jun 30, 2022 | 0.19 |
| Mar 31, 2022 | 0.20 |
| Sep 30, 2021 | 0.23 |
| Jun 30, 2021 | 0.25 |
| Mar 31, 2021 | 0.27 |
| Sep 30, 2020 | 0.29 |
| Jun 30, 2020 | 0.28 |