Shell (SHEL) Research & Development (2009 - 2025)

Shell (SHEL) has reported Research & Development for 17 consecutive years, with $300.0 million the latest figure, recorded in Q4 2025.

• Research & Development for Q4 2025 came in at $300.0 million, changed 0.0% year-over-year; the trailing twelve-month figure through Dec 2025 was $1.2 billion (up 10.23% YoY), and the FY2025 annual result was $1.2 billion, down 51.47% from the prior year.
• Research & Development was $300.0 million for Q4 2025 at Shell, down from $400.0 million in the prior quarter.
• Over five years, Research & Development peaked at $500.0 million in Q4 2023 and troughed at $166.0 million in Q1 2021.
• Average Research & Development over 5 years is $276.9 million, with a median of $280.5 million recorded in 2022.
• Year-over-year, Research & Development jumped 33.86% in 2023 and slumped 40.0% in 2024.
• Over 5 years, Research & Development stood at $201.0 million in 2021, then surged by 31.34% to $264.0 million in 2022, then soared by 89.39% to $500.0 million in 2023, then plunged by 40.0% to $300.0 million in 2024, then changed by 0.0% to $300.0 million in 2025.
• Per Business Quant data, the three most recent Research & Development figures were $300.0 million in Q4 2025, $400.0 million in Q3 2025, and $300.0 million in Q2 2025.