Shell (SHEL) Return on Capital Employed (2009 - 2026)
Shell's (SHEL) quarterly Return on Capital Employed came in at 21.46% in Q2 2026, up 6.0% YoY from 20.24% in Q2 2025, and up 31.05% on a QoQ basis from 16.37% in Q4 2025.
Shell (SHEL) Return on Capital Employed (2009 - 2026) Analysis & Trends
Shell (SHEL) has 18 years of Return on Capital Employed data on file, last reported at 21.46% in Q2 2026.
- Quarterly Return on Capital Employed rose 6.0% year-over-year to 21.46% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 21.46% (up 6.0% YoY) and the FY2025 annual result came in at 27.91%, up 8031.0% from the prior year.
- Return on Capital Employed grew to 21.46% in Q2 2026, from 16.37% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 62.38% in Q2 2023 to a low of 9.55% in Q2 2022.
- A 5-year average of 21.3% and a median of 18.23% in 2023 frame the typical range for Return on Capital Employed.
- Annual changes were most pronounced in 2023 — Return on Capital Employed jumped 7193 bps — and 2024, when it slumped 5497 bps.
- Tracing SHEL's Return on Capital Employed over 5 years: stood at 43.72% in 2022, then tumbled by 58 bps to 18.23% in 2023, then sank by 44 bps to 10.29% in 2024, then soared by 59 bps to 16.37% in 2025, then soared by 31 bps to 21.46% in 2026.
- The last three Return on Capital Employed figures came in at 21.46% (Q2 2026), 16.37% (Q4 2025), and 21.39% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,308.33 Bn | -5,263.99 Bn | 11.34 Bn | - |
| 2 | ExxonMobil Holdings | 651.52 Bn | 649.70 Bn | - | 10.38% |
| 3 | Chevron | 382.50 Bn | 382.83 Bn | 20.34 Bn | -19.99% |
| 4 | Eni Spa | 205.81 Bn | 195.97 Bn | - | 4.63% |
| 5 | Shell | 102.19 Bn | 62.32 Bn | 30.13 Bn | 21.46% |
| 6 | Equinor Asa | 98.30 Bn | 89.04 Bn | - | 31.72% |
| 7 | Suncor Energy | 78.77 Bn | 76.39 Bn | 6.68 Bn | 31.85% |
| 8 | Imperial Oil | 61.22 Bn | 60.47 Bn | - | 11.22% |
| 9 | TotalEnergies SE | 25.61 Bn | -6.11 Bn | 18.79 Bn | 60.77% |
| 10 | Ypf Sociedad Anonima | 20.09 Bn | 18.40 Bn | 1.76 Bn | 10.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 21.46% |
| Dec 31, 2025 | 16.37% |
| Jun 30, 2025 | 21.39% |
| Dec 31, 2024 | 10.29% |
| Jun 30, 2024 | 7.41% |
| Dec 31, 2023 | 18.23% |
| Jun 30, 2023 | 62.38% |
| Dec 31, 2022 | 43.72% |
| Jun 30, 2022 | -9.55% |
| Dec 31, 2021 | -9.50% |
| Jun 30, 2021 | -10.80% |
| Dec 31, 2020 | -14.91% |
| Jun 30, 2020 | 65.19% |
| Mar 31, 2020 | 56.51% |
| Dec 31, 2019 | 34.92% |
| Sep 30, 2019 | -32.62% |
| Jun 30, 2019 | -79.04% |
| Mar 31, 2019 | -209.25% |
| Dec 31, 2018 | -129.54% |
| Sep 30, 2018 | -26.51% |