Shell (SHEL) Invested Capital (2009 - 2026)
Shell (SHEL) recorded Invested Capital of $247.38 billion in Q2 2026, down 4.4% from $258.76 billion a year earlier and down 1.1% from the prior quarter.
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Analysis
Shell (SHEL) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Shell reported Invested Capital of $242.94 billion, down 2.0% from FY2024.
- Annual Invested Capital has declined for three straight years, with a five-year compound annual growth rate of -0.6% (FY2020 to FY2025).
- Across earlier years, Invested Capital came in at $247.8 billion in FY2024 (-7.6%), $268.15 billion in FY2023 (-2.2%), $274.27 billion in FY2022 (+6.7%) and $257.08 billion in FY2021 (+2.8%).
- Quarterly Invested Capital has ranged from $229.05 billion in Q3 2025 to $276.46 billion in Q2 2023 over the past five years.
- On a year-over-year basis, Invested Capital rose in 1 of the last eight quarters, with an average decline of 2.1%.
- Peak year-over-year performance for Invested Capital in the last five years was growth of 7.1% in Q1 2026, against a decline of 7.6% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $250.25 billion (Q1 2026), $242.94 billion (Q4 2025) and $229.05 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | 308.48 Bn |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 246.39 Bn |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | 195.96 Bn |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 193.66 Bn |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 102.84 Bn |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 88.64 Bn |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | 53.27 Bn |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | 67.49 Bn |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 21.12 Bn |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 58.02 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 246.39 Bn |
| Mar 31, 2026 | 249.23 Bn |
| Dec 31, 2025 | 242.02 Bn |
| Sep 30, 2025 | 229.05 Bn |
| Jun 30, 2025 | 258.76 Bn |
| Mar 31, 2025 | 233.58 Bn |
| Dec 31, 2024 | 245.94 Bn |
| Sep 30, 2024 | 236.79 Bn |
| Jun 30, 2024 | 262.66 Bn |
| Mar 31, 2024 | 239.86 Bn |
| Dec 31, 2023 | 268.15 Bn |
| Sep 30, 2023 | 243.53 Bn |
| Jun 30, 2023 | 276.46 Bn |
| Mar 31, 2023 | 248.80 Bn |
| Dec 31, 2022 | 274.27 Bn |
| Sep 30, 2022 | 246.63 Bn |
| Jun 30, 2022 | 247.18 Bn |
| Mar 31, 2022 | 235.05 Bn |
| Dec 31, 2021 | 253.72 Bn |
| Sep 30, 2021 | 234.86 Bn |
API Access
Shell Invested Capital 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=invested-capital&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();