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.
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Analysis
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 Set
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
Download Data
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 |
API Access
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_KEYimport 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();