Shell (SHEL) Net Margin (2009 - 2026)
Shell (SHEL) recorded Net Margin of 11.43% in Q2 2026, up 5.93 percentage points from 5.51% a year earlier and up 3.26 percentage points from the prior quarter.
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Analysis
Shell (SHEL) Net Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Shell's Net Margin came in at 7.12% as of Jun 30, 2026, up 2.72 percentage points year-over-year; for FY2025, it was 880.84%, up 875.18 percentage points from FY2024.
- Annual Net Margin has a five-year change of +892.85 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 5.66% in FY2024 (-0.45 pp), 6.11% in FY2023 (-4.98 pp), 11.10% in FY2022 (+3.41 pp) and 7.69% in FY2021 (+19.69 pp).
- The Q2 2026 figure is the highest quarterly Net Margin since Q4 2013.
- On a year-over-year basis, Net Margin rose in three of the last four quarters, with an average year-over-year change of +1.67 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 5.93 percentage points in Q2 2026, against a drop of 2.38 percentage points in Q1 2024 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | 12.52% |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 10.35% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | 17.23% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 0.00% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 13.62% |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 20.14% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | 7.39% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | 9.17% |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 0.01% |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 19.63% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.35% |
| Mar 31, 2026 | 8.17% |
| Jun 30, 2025 | 5.51% |
| Mar 31, 2025 | 8.19% |
| Dec 31, 2024 | 5.68% |
| Jun 30, 2024 | 4.72% |
| Mar 31, 2024 | 10.77% |
| Jun 30, 2023 | 4.20% |
| Mar 31, 2023 | 10.02% |
| Jun 30, 2022 | 11.47% |
| Mar 31, 2022 | 8.45% |
| Jun 30, 2021 | 5.66% |
| Mar 31, 2021 | 5.81% |
| Jun 30, 2020 | -55.78% |
| Mar 31, 2020 | 2.27% |
| Jun 30, 2019 | 3.31% |
| Mar 31, 2019 | 7.17% |
| Dec 31, 2018 | 5.47% |
| Sep 30, 2018 | 5.83% |
| Jun 30, 2018 | 6.23% |
API Access
Shell Net Margin 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=net-margin&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();