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.
Analysis
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.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | 33.86% |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | -29.93% |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | 21.77% |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | 3.03% |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | 31.72% |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | 26.78% |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | 14.89% |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | 23.03% |
| 9 | Gas Transporter Of The South | 21.19 Bn | -3,019.86 Bn | - | - |
| 10 | Ypf Sociedad Anonima | 19.74 Bn | 17.54 Bn | 2.97 Bn | 16.25% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.86% |
| Dec 31, 2025 | 60.38% |
| Jun 30, 2025 | 50.59% |
| Dec 31, 2024 | 34.35% |
| Jun 30, 2024 | 24.22% |
| Dec 31, 2023 | 45.25% |
| Jun 30, 2023 | 143,549.08% |
| Dec 31, 2022 | 192,617.31% |
| Jun 30, 2022 | 16.88% |
| Dec 31, 2021 | 8.40% |
| Jun 30, 2021 | -4.16% |
| Dec 31, 2020 | 3.09% |
| Jun 30, 2020 | 16.82% |
| Sep 30, 2019 | 12.63% |
| Jun 30, 2019 | 13.09% |
| Mar 31, 2019 | 38.05% |
| Dec 31, 2018 | 39.70% |
| Sep 30, 2018 | 12.30% |
| Jun 30, 2018 | 10.72% |
| Mar 31, 2018 | 8.57% |