Shell (SHEL) Return on Invested Capital [ROIC] (2009 - 2026)
Shell (SHEL) recorded Return on Invested Capital [ROIC] of 13.05% in Q2 2026, up 5.74 percentage points from 7.31% a year earlier and up 3.46 percentage points from the prior quarter.
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Analysis
Shell (SHEL) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Shell reported Return on Invested Capital [ROIC] of -8.60%, up 25.77 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has increased for three straight years, with a five-year change of +34.30 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at -34.36% in FY2024 (+7.09 pp), -41.46% in FY2023 (+6.43 pp), -47.89% in FY2022 (-6.68 pp) and -41.21% in FY2021 (+1.68 pp).
- The Q2 2026 figure is the highest quarterly Return on Invested Capital [ROIC] since Q2 2016.
- On a year-over-year basis, Return on Invested Capital [ROIC] rose in three of the last four quarters, with an average year-over-year change of +8.70 percentage points.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 17.14 percentage points in Q2 2025, against a drop of 2.90 percentage points in Q2 2024 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 686.62 Bn | 644.76 Bn | - | 13.86% |
| 2 | Chevron | 416.14 Bn | 383.18 Bn | 31.26 Bn | 12.13% |
| 3 | Shell | 291.71 Bn | 151.98 Bn | - | - |
| 4 | TotalEnergies SE | 192.78 Bn | 63.86 Bn | 31,614.00 | 21.61% |
| 5 | Eni Spa | 167.56 Bn | 107.19 Bn | - | 9.03% |
| 6 | Conocophillips | 165.53 Bn | 138.24 Bn | 12.81 Bn | 22.50% |
| 7 | Equinor Asa | 108.87 Bn | 21.72 Bn | 4.49 Bn | 57.33% |
| 8 | Canadian Natural Resources | 101.39 Bn | 95.29 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 97.45 Bn | 81.24 Bn | 10.69 Bn | 25.31% |
| 10 | Suncor Energy | 83.77 Bn | 64.46 Bn | - | 9.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.05% |
| Mar 31, 2026 | 9.60% |
| Jun 30, 2025 | 7.31% |
| Mar 31, 2025 | -3.25% |
| Jun 30, 2024 | -9.83% |
| Mar 31, 2024 | -2.31% |
| Jun 30, 2023 | -6.93% |
| Mar 31, 2023 | -6.76% |
| Jun 30, 2022 | -12.04% |
| Mar 31, 2022 | -11.33% |
| Jun 30, 2021 | -19.45% |
| Mar 31, 2021 | -17.69% |
| Dec 31, 2020 | -18.36% |
| Jun 30, 2020 | 0.04% |
| Mar 31, 2020 | -12.65% |
| Dec 31, 2019 | -25.93% |
| Sep 30, 2019 | -26.62% |
| Jun 30, 2019 | -41.23% |
| Mar 31, 2019 | -42.45% |
| Dec 31, 2018 | -25.81% |
API Access
Shell Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();