Shell (SHEL) Return on Capital Employed [ROCE] (2009 - 2026)
Shell's Return on Capital Employed [ROCE] was 19.08% in Q2 2026, up 17.54 percentage points from 1.54% a year earlier and up 2.64 percentage points from the prior quarter.
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Analysis
Shell (SHEL) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Shell came in at -57.01%, down 14.73 percentage points from FY2024.
- Return on Capital Employed [ROCE] shows a four-year change of -16.28 percentage points (FY2021 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was -42.28% in FY2024 (+14.47 pp), -56.75% in FY2023 (+4.50 pp), -61.26% in FY2022 (-20.53 pp) and -40.73% in FY2021.
- The Q2 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] since Q2 2013.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q1 2026 (a gain of 30.97 percentage points); the worst was Q1 2024 (a drop of 13.52 percentage points).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | 12.28% |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 38.82% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | -29.93% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 39.24% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 5.20% |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 28.17% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | -190.97% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | - |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | - |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 2.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.82% |
| Mar 31, 2026 | 12.05% |
| Dec 31, 2025 | 14.61% |
| Sep 30, 2025 | 17.45% |
| Jun 30, 2025 | 21.72% |
| Mar 31, 2025 | 17.89% |
| Dec 31, 2024 | 10.62% |
| Sep 30, 2024 | -1.23% |
| Jun 30, 2024 | -0.22% |
| Mar 31, 2024 | -16.36% |
| Dec 31, 2023 | -14.04% |
| Sep 30, 2023 | -9.41% |
| Jun 30, 2023 | -8.53% |
| Mar 31, 2023 | 10.22% |
| Dec 31, 2022 | 13.79% |
| Sep 30, 2022 | 10.07% |
| Jun 30, 2022 | 7.38% |
| Mar 31, 2022 | -9.13% |
| Dec 31, 2021 | -11.91% |
| Sep 30, 2021 | -9.67% |
API Access
Shell Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();