Shell (SHEL) Invested Capital (2009 - 2026)
Shell (SHEL) recorded Invested Capital of $265.57 billion in Q3 2026, up 5.5% from $251.8 billion a year earlier and up 4.6% from the prior quarter.
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Analysis
Shell (SHEL) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Shell reported Invested Capital of $250.04 billion, down 2.1% from FY2024.
- Annual Invested Capital has declined for three straight years, with a five-year compound annual growth rate of -1.0% (FY2020 to FY2025).
- Across earlier years, Invested Capital came in at $255.39 billion in FY2024 (-4.8%), $268.15 billion in FY2023 (-2.2%), $274.27 billion in FY2022 (+5.1%) and $261.05 billion in FY2021 (-0.9%).
- The Q3 2026 figure is the highest quarterly Invested Capital since Q1 2024.
- On a year-over-year basis, Invested Capital rose in 1 of the last eight quarters, with an average decline of 1.9%.
- Peak year-over-year performance for Invested Capital in the last five years was growth of 6.3% in Q1 2023, against a decline of 5.1% in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $253.86 billion (Q2 2026), $249.23 billion (Q1 2026) and $250.04 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 686.62 Bn | 644.76 Bn | - | 306.77 Bn |
| 2 | Chevron | 416.14 Bn | 383.18 Bn | 31.26 Bn | 233.51 Bn |
| 3 | Shell | 291.71 Bn | 151.98 Bn | - | 266.83 Bn |
| 4 | TotalEnergies SE | 192.78 Bn | 63.86 Bn | 31,614.00 | 199.96 Bn |
| 5 | Eni Spa | 167.56 Bn | 107.19 Bn | - | 104.25 Bn |
| 6 | Conocophillips | 165.53 Bn | 138.24 Bn | 12.81 Bn | 88.64 Bn |
| 7 | Equinor Asa | 108.87 Bn | 21.72 Bn | 4.49 Bn | 69.32 Bn |
| 8 | Canadian Natural Resources | 101.39 Bn | 95.29 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 97.45 Bn | 81.24 Bn | 10.69 Bn | 54.03 Bn |
| 10 | Suncor Energy | 83.77 Bn | 64.46 Bn | - | 59.43 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 266.83 Bn |
| Jun 30, 2026 | 253.86 Bn |
| Mar 31, 2026 | 249.23 Bn |
| Dec 31, 2025 | 250.04 Bn |
| Sep 30, 2025 | 251.80 Bn |
| Jun 30, 2025 | 256.81 Bn |
| Mar 31, 2025 | 257.18 Bn |
| Dec 31, 2024 | 255.39 Bn |
| Sep 30, 2024 | 264.29 Bn |
| Jun 30, 2024 | 260.88 Bn |
| Mar 31, 2024 | 266.50 Bn |
| Dec 31, 2023 | 268.15 Bn |
| Sep 30, 2023 | 273.35 Bn |
| Jun 30, 2023 | 274.83 Bn |
| Mar 31, 2023 | 278.46 Bn |
| Dec 31, 2022 | 274.27 Bn |
| Sep 30, 2022 | 268.51 Bn |
| Jun 30, 2022 | 274.24 Bn |
| Mar 31, 2022 | 262.05 Bn |
| Dec 31, 2021 | 261.05 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();