SHELL Income Statement - Shell PLC

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Price: 900 CZK -1.85%

Market Cap: Kč5.6T

S	Shell PLC PSE:SHELL	UK
W	Wesco International Inc XMUN:WP7	US
S	Sigma Healthcare Ltd F:S5YA	AU
B	Bank of Nova Scotia F:BKN	CA
C	Compagnie de Saint Gobain SA XBER:GOB	FR
P	Public Storage F:PUP	US
	Bankinter SA F:BAKA	ES
K	Kering SA XMUN:PPX	FR
C	Compagnie de Saint Gobain SA DUS:GOB	FR
I	Imperial Oil Ltd F:IMP	CA
L	Life Storage Inc F:SOV	US
H	Home Depot Inc DUS:HDI	US
C	Christian Dior SE XMUN:DIO	FR
S	Saipem SpA F:SPEA	IT
C	Cardinal Health Inc SWB:CLH	US
L	Lennar Corp DUS:LNN	US
	Banco Bilbao Vizcaya Argentaria SA LSE:0A2B	ES
	Relmada Therapeutics Inc F:4E2	US
H	Henry Schein Inc XBER:HS2	US
E	EOG Resources Inc F:EO5	US
	Industrial and Commercial Bank of China Ltd SSE:601398	CN
	Imperial Oil Ltd TSX:IMO	CA
W	Warrix Sport PCL SET:WARRIX	TH
V	ViacomCBS Inc LSE:0A65	US

Financial profile · Q2 FY2026

An integrated energy portfolio with cyclical earnings and durable cash generation

Shell operates as a cyclical, commodity-sensitive integrated energy portfolio, with upstream and LNG exposure complemented by trading, refining, marketing and chemicals. The model remains capital intensive but has historically generated positive operating and free cash flow while reducing debt and the common share base.

What is developing

The June 30, 2026 results show a marked rebound in quarterly profitability and free cash flow, but the underlying economics still appear cyclical rather than structurally reset. The latest period strengthens Shell’s cash-generation profile without changing its dependence on prices, margins, volumes and working capital.

What matters next

Whether operating cash flow remains above the higher 2026 capital-spending run rate after current price, trading and working-capital tailwinds moderate.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Revenue	233.6B	305.2B	388.4B	344.9B	180.5B	261.5B	381.3B	316.6B	284.3B	266.9B
Cost of Revenue	(191B)	(250.1B)	(321.4B)	(279.4B)	(141.1B)	(198.7B)	(284B)	(238.1B)	(211.5B)	(199.1B)
Gross Profit	42.6B	55.1B	67B	65.5B	39.4B	62.8B	97.3B	78.5B	72.8B	67.8B
Operating Expenses	(41.4B)	(37.8B)	(36.3B)	(39.6B)	(38B)	(36.9B)	(38.5B)	(40.3B)	(39.6B)	(38.1B)
Selling, General & Administrative	(12.1B)	(10.5B)	(11.4B)	(10.5B)	(9.9B)	(11.3B)	(12.8B)	(13.4B)	(12.4B)	(12.6B)
R&D	(3.1B)	(2.9B)	(2.3B)	(3.3B)	(2.7B)	(2.2B)	(2.8B)	(3B)	(3.5B)	(2.3B)
Depreciation & Amortization	(23.1B)	(22B)	(21.7B)	(25.1B)	(25B)	(22.9B)	(22.4B)	(23.1B)	(22.7B)	(22.2B)
Other Operating Expenses	(3.1B)	(2.4B)	(902m)	(718m)	(497m)	(450m)	(507m)	(719m)	(974m)	(1B)
Operating Income	1.1B	17.3B	30.7B	25.8B	1.4B	25.9B	58.8B	38.2B	33.2B	29.7B
Net Interest Income (Expense)	2.6B	1.9B	2B	559m	(1.5B)	1.7B	2.2B	1.7B	610m	(515m)
Interest Expense	2B	2.8B	2.7B	3.8B	3.6B	3.2B	2.7B	3.9B	3.9B	3.7B
Non-Recurring Items	(288m)	(1B)	2.8B	(1.1B)	(27.2B)	2B	3.3B	(7.9B)	(4.5B)	57m
Gain/Loss on Disposition of Assets	2.1B	—	—	—	—	—	—	—	—	—
Total Other Income	—	—	104m	179m	273m	341m	477m	677m	582m	532m
Pre-Tax Income	5.6B	18.1B	35.6B	25.5B	(27B)	29.8B	64.8B	32.6B	29.9B	29.8B
Tax Provision	(829m)	(2.7B)	(11.7B)	(9.1B)	5.4B	(9.2B)	(21.9B)	(13B)	(13.4B)	(11.6B)
Income from Continuing Operations	4.8B	15.4B	23.9B	16.4B	(21.5B)	20.6B	42.9B	19.6B	16.5B	18.1B
Income to Minority Interest	(202m)	(458m)	(554m)	(590m)	(146m)	(529m)	(565m)	(277m)	(427m)	(282m)
Net Income	4.6B	13B	23.4B	15.8B	(21.7B)	20.1B	42.3B	19.4B	16.1B	17.8B
EPS (Diluted)	0.58	1.56	2.80	1.95	(2.78)	2.57	5.71	2.85	2.53	3.00