Shell (SHEL) FCF Margin (2009 - 2026)
Shell's (SHEL) quarterly FCF Margin came in at 12.08% in Q2 2026, down 1506.0% YoY from 0.86% in Q2 2025, and down 17.95% on a QoQ basis from 14.73% in Q1 2026.
Analysis
Shell (SHEL) FCF Margin (2009 - 2026) Analysis & Trends
Shell (SHEL) has 18 years of FCF Margin data on file, last reported at 12.08% in Q2 2026.
- Quarterly FCF Margin fell 1506.0% year-over-year to 12.08% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 23.42% (down 813.0% YoY) and the FY2025 annual result came in at 8.74%, down 340.0% from the prior year.
- FCF Margin fell to 12.08% in Q2 2026, from 14.73% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 54.39% in Q4 2024 to a low of 9.69% in Q3 2022.
- A 5-year average of 21.35% and a median of 23.76% in 2023 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2022 — FCF Margin plunged 141769 bps — and 2025, when it surged 267 bps.
- Tracing SHEL's FCF Margin over 5 years: stood at 11.51% in 2022, then jumped by 136 bps to 27.17% in 2023, then soared by 100 bps to 54.39% in 2024, then tumbled by 50 bps to 27.14% in 2025, then slumped by 55 bps to 12.08% in 2026.
- The last three FCF Margin figures came in at 12.08% (Q2 2026), 14.73% (Q1 2026), and 27.14% (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | 12.08% |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | 25.83% |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | 6.85% |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | 18.84% |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | 18.76% |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | -68.88% |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | 13.54% |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | - |
| 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 | 53.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.08% |
| Mar 31, 2026 | 14.73% |
| Jun 30, 2025 | 27.14% |
| Mar 31, 2025 | 19.44% |
| Jun 30, 2024 | 24.48% |
| Mar 31, 2024 | 24.59% |
| Jun 30, 2023 | 27.17% |
| Mar 31, 2023 | 23.76% |
| Sep 30, 2022 | 0.00% |
| Jun 30, 2022 | 25.32% |
| Mar 31, 2022 | 22.63% |
| Jun 30, 2021 | 27.84% |
| Mar 31, 2021 | 21.88% |
| Jun 30, 2020 | 18.46% |
| Mar 31, 2020 | 31.84% |
| Dec 31, 2019 | 25.54% |
| Sep 30, 2019 | 21.07% |
| Jun 30, 2019 | 17.87% |
| Mar 31, 2019 | 16.42% |
| Dec 31, 2018 | 22.57% |