Shell (SHEL) EBITDA Margin (2009 - 2026)
Shell (SHEL) recorded EBITDA Margin of 35.00% in Q2 2026, up 4.91 percentage points from 30.08% a year earlier and up 3.49 percentage points from the prior quarter.
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Analysis
Shell (SHEL) EBITDA Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Shell's EBITDA Margin came in at 31.78% as of Jun 30, 2026, up 20.64 percentage points year-over-year; for FY2025, it was -9162.72%, down 9114.87 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of -9110.50 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at -47.85% in FY2024 (+1.27 pp), -49.12% in FY2023 (-1.91 pp), -47.21% in FY2022 (+2.24 pp) and -49.45% in FY2021 (+2.76 pp).
- The Q2 2026 figure is the highest quarterly EBITDA Margin since Q1 2017.
- On a year-over-year basis, EBITDA Margin rose in three of the last four quarters, with an average year-over-year change of +19.80 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 84.95 percentage points in Q2 2024, against a drop of 65.00 percentage points in Q1 2024 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | 24.43% |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 94.70% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | -19.76% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 29.83% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 13.20% |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 68.45% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | -73.22% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | 44.67% |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 96.79% |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 12.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 94.70% |
| Mar 31, 2026 | 31.51% |
| Jun 30, 2025 | 30.08% |
| Mar 31, 2025 | 29.21% |
| Dec 31, 2024 | 55.64% |
| Jun 30, 2024 | 31.69% |
| Mar 31, 2024 | -21.17% |
| Jun 30, 2023 | -53.25% |
| Mar 31, 2023 | 6.00% |
| Jun 30, 2022 | 23.49% |
| Mar 31, 2022 | 6.60% |
| Jun 30, 2021 | -47.28% |
| Mar 31, 2021 | 9.64% |
| Jun 30, 2020 | -42.76% |
| Mar 31, 2020 | 15.50% |
| Jun 30, 2019 | -64.35% |
| Mar 31, 2019 | -55.53% |
| Dec 31, 2018 | 12.76% |
| Sep 30, 2018 | -96.08% |
| Jun 30, 2018 | -62.68% |
API Access
Shell EBITDA Margin 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=ebitda-margin&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();