Shell (SHEL) Shares Outstanding (2010 - 2026)
Shell (SHEL) recorded Shares Outstanding of 5.89 billion in Q2 2026, down 6.5% from 6.3 billion a year earlier and unchanged from the prior quarter.
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Analysis
Shell (SHEL) Shares Outstanding (2010 - 2026) Analysis & Trends
Starting with Q1 2009, Shell's Shares Outstanding history includes 68 quarters.
- Annual Shares Outstanding has declined for seven straight years, with a five-year compound annual growth rate of -5.4% (FY2020 to FY2025).
- Across earlier years, Shares Outstanding came in at 6.3 billion in FY2024 (-6.4%), 6.73 billion in FY2023 (-8.4%), 7.35 billion in FY2022 (-5.3%) and 7.76 billion in FY2021 (-0.4%).
- Quarterly Shares Outstanding has ranged from 5.89 billion in Q4 2025 to 7.8 billion in Q3 2021 over the past five years.
- On a year-over-year basis, Shares Outstanding has declined for 11 consecutive quarters, with an average decline of 6.7% over the last eight quarters.
- Over the past five years, the year-over-year decline in Shares Outstanding ranged from 0.4% (Q1 2022) to 8.4% (Q4 2023).
- Per Business Quant, the preceding three quarters came in at 5.89 billion (Q1 2026), 5.89 billion (Q4 2025) and 6.3 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 753.32 Bn | 709.81 Bn | - | 4.17 Bn |
| 2 | Chevron | 449.58 Bn | 421.70 Bn | 33.45 Bn | 1.97 Bn |
| 3 | Shell | 309.56 Bn | 169.83 Bn | - | 2.95 Bn |
| 4 | TotalEnergies SE | 203.22 Bn | 74.30 Bn | 31,614.00 | 2.19 Bn |
| 5 | Conocophillips | 178.73 Bn | 151.44 Bn | 12.81 Bn | 1.21 Bn |
| 6 | Equinor Asa | 117.96 Bn | 30.81 Bn | - | 2.59 Bn |
| 7 | Canadian Natural Resources | 112.36 Bn | 109.36 Bn | 8.84 Bn | 2.09 Bn |
| 8 | Phillips 66 | 109.51 Bn | 93.29 Bn | 10.69 Bn | 397.01 Mn |
| 9 | Suncor Energy | 92.29 Bn | 78.04 Bn | - | 1.22 Bn |
| 10 | Eni Spa | 89.05 Bn | 28.68 Bn | - | 1.51 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.95 Bn |
| Jun 30, 2026 | 2.95 Bn |
| Mar 31, 2026 | 2.95 Bn |
| Dec 31, 2025 | 2.95 Bn |
| Sep 30, 2025 | 3.15 Bn |
| Jun 30, 2025 | 3.15 Bn |
| Mar 31, 2025 | 3.15 Bn |
| Dec 31, 2024 | 3.15 Bn |
| Sep 30, 2024 | 3.37 Bn |
| Jun 30, 2024 | 3.37 Bn |
| Mar 31, 2024 | 3.37 Bn |
| Dec 31, 2023 | 3.37 Bn |
| Sep 30, 2023 | 3.67 Bn |
| Jun 30, 2023 | 3.67 Bn |
| Mar 31, 2023 | 3.67 Bn |
| Dec 31, 2022 | 3.67 Bn |
| Sep 30, 2022 | 3.88 Bn |
| Jun 30, 2022 | 3.88 Bn |
| Mar 31, 2022 | 3.88 Bn |
| Dec 31, 2021 | 3.88 Bn |
API Access
Shell Shares Outstanding 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=shares-outstanding&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();