Shell (SHEL) Free Cash Flow (2009 - 2026)
Shell (SHEL) recorded Free Cash Flow of $25.67 billion in Q2 2026, up 44.6% from $17.75 billion a year earlier and up 150.1% from the prior quarter.
Shell (SHEL) Free Cash Flow (2009 - 2026) Analysis & Trends
On a TTM basis, Shell's Free Cash Flow came in at $68.5 billion as of Jun 30, 2026, down 3.4% year-over-year; for FY2025, it was $63.78 billion.
- Annual Free Cash Flow has a five-year compound annual growth rate of 4.7% (FY2020 to FY2025).
- Across earlier years, Free Cash Flow came in at -$2.49 trillion in FY2024, -$2.63 trillion in FY2023, -$51.73 trillion in FY2022 and $64.1 billion in FY2021 (+26.5%).
- The Q2 2026 figure is the highest quarterly Free Cash Flow since Q4 2021.
- On a year-over-year basis, Free Cash Flow rose in three of the last eight quarters, with an average decline of 3.9%.
- Peak year-over-year performance for Free Cash Flow in the last five years was growth of 206.8% in Q4 2023, against a decline of 76.4% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $10.26 billion (Q1 2026), $15.45 billion (Q4 2025) and $17.11 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | 17.03 Bn |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | -59.17 Bn |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | 18.10 Bn |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 15.09 Bn |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 4.96 Bn |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 4.41 Bn |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | 6.53 Bn |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | 6.60 Bn |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 2.53 Bn |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 7.00 Bn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -59.17 Bn |
| Mar 31, 2026 | -54.74 Bn |
| Dec 31, 2025 | 9.44 Bn |
| Sep 30, 2025 | 12.21 Bn |
| Jun 30, 2025 | -48.53 Bn |
| Mar 31, 2025 | -51.91 Bn |
| Dec 31, 2024 | 13.16 Bn |
| Sep 30, 2024 | 14.68 Bn |
| Jun 30, 2024 | -54.15 Bn |
| Mar 31, 2024 | -50.33 Bn |
| Dec 31, 2023 | 12.58 Bn |
| Sep 30, 2023 | 12.33 Bn |
| Jun 30, 2023 | -55.54 Bn |
| Mar 31, 2023 | -60.51 Bn |
| Sep 30, 2022 | 12.54 Bn |
| Jun 30, 2022 | -58.27 Bn |
| Mar 31, 2022 | -57.57 Bn |
| Dec 31, 2021 | 8.17 Bn |
| Sep 30, 2021 | 16.03 Bn |
| Jun 30, 2021 | -45.02 Bn |
Shell Free Cash Flow 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=free-cash-flow&ticker=SHEL&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();