Shell plc (SHEL) Operating Margin (2009 - 2026)

Shell (SHEL) has reported Operating Margin for 18 consecutive years, with 28.64% the latest figure, recorded in Q2 2026.

• For the quarter ending Q2 2026, Operating Margin rose 875.0% year-over-year to 28.64%; the trailing twelve-month figure through Jun 2026 stood at 23.8% (down 279.0% YoY), and the FY2025 full-year result was 74.01%, up 7819.0% from the prior year.
• Operating Margin advanced to 28.64% in Q2 2026 per SHEL's latest filing, from 23.27% in the prior quarter.
• Across five years, Operating Margin topped out at 86.89% in Q1 2023 and bottomed at 63.81% in Q2 2023.
• Historically, Operating Margin has averaged 10.78% across 5 years, with a median of 21.39% in 2025.
• The widest YoY moves for Operating Margin: up 8535 bps in 2024, down 11617 bps in 2024.
• Over 5 years, Operating Margin stood at 47.41% in 2022, then sank by 35 bps to 63.81% in 2023, then surged by 169 bps to 44.29% in 2024, then slumped by 55 bps to 19.89% in 2025, then soared by 44 bps to 28.64% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 28.64%, 23.27%, and 19.89% for Q2 2026, Q1 2026, and Q2 2025 respectively.