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Shell plc (SHEL) Annual Reports

Q: Where can I read Shell plc (SHEL) annual reports?

Every year on this page links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser. 3 filings are currently indexed.

Q: What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer; a 20-F is filed by foreign private issuers (Taiwanese companies with US ADRs, such as TSMC, file 20-F). A 40-F applies to Canadian issuers under the MJDS.

Shell plc is listed on NYSE, classified by the SEC under Crude Petroleum & Natural Gas (SIC 1311). This page indexes 3 annual reports, each linking to the full text on the SEC's EDGAR system.

Company profile

Exchange： NYSE
Fiscal year end： 12/31
SEC CIK： 1306965 →

Website：Official site ↗

Financial Highlights

FY2025 Q2 (quarterly, ended 2025-06-30)
	Current	Prior year	YoY
Revenue	$65.4B	$74.5B	-12.2%
Net income	$3.6B	$3.5B	+2.4%

Source: SEC EDGAR (XBRL company facts)

Financial history

Revenue & profit

Quarterly · In bn (USD)

Revenue 123 bn Net income 9.46 bn

Show table：Income statement

Item	2015Q4	2016Q4	2017Q3	2017Q4	2018Q2	2018Q3	2018Q4	2019Q1	2019Q1	2019Q2	2019Q4	2020Q1	2020Q2	2020Q4	2021Q1	2021Q2	2021Q4	2022Q1	2022Q2	2022Q4	2023Q1	2023Q2	2023Q4	2024Q1	2024Q2	2024Q4	2025Q1	2025Q2	2025Q4
Revenue	265	234	75.8	85.4	96.8	100	102	—	83.7	90.5	171	60.0	32.5	88.0	55.7	60.5	145	84.2	100	185	87.0	74.6	139	72.5	74.5	127	69.2	65.4	123
Net income	1.94	4.58	4.09	3.81	6.02	5.84	5.59	—	6.00	3.00	6.84	-0.02	-18.1	-3.52	5.66	3.43	11.0	7.12	18.0	17.1	8.71	3.13	7.52	7.36	3.52	5.22	4.78	3.60	9.46

Balance sheet

Quarterly · In bn (USD)

Total assets 370 bn Total liabilities 195 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Show table：Balance sheet

Item	2015Q4	2016Q4	2017Q3	2017Q4	2018Q2	2018Q3	2018Q4	2019Q1	2019Q1	2019Q2	2019Q4	2020Q1	2020Q2	2020Q4	2021Q1	2021Q2	2021Q4	2022Q1	2022Q2	2022Q4	2023Q1	2023Q2	2023Q4	2024Q1	2024Q2	2024Q4	2025Q1	2025Q2	2025Q4
Current assets	—	86.6	—	95.4	—	107	97.5	97.5	—	93.1	92.7	—	86.2	90.7	—	112	129	—	165	166	—	140	134	—	129	128	—	122	107
Total assets	—	411	—	407	—	408	399	414	—	409	404	—	375	379	—	398	404	—	448	443	—	415	406	—	395	388	—	388	370
Current liabilities	—	73.8	—	79.8	—	89.8	77.8	80.4	—	84.3	79.6	—	69.4	74.0	—	84.5	95.5	—	119	121	—	96.1	95.5	—	91.5	95.0	—	92.0	82.4
Total liabilities	—	223	—	209	—	207	197	211	—	213	214	—	215	221	—	227	229	—	254	250	—	223	218	—	208	207	—	205	195
Equity	164	187	199	194	201	198	199	199	—	192	186	—	157	155	—	168	172	—	191	190	—	190	187	—	185	178	—	181	174

Cash flow

Quarterly · In bn (USD)

Operating 21.6 bn Investing -7.45 bn Financing -16.5 bn

Positive = cash in, negative = cash out.

Show table：Cash flow statement

Item	2015Q4	2016Q4	2017Q3	2017Q4	2018Q2	2018Q3	2018Q4	2019Q1	2019Q1	2019Q2	2019Q4	2020Q1	2020Q2	2020Q4	2021Q1	2021Q2	2021Q4	2022Q1	2022Q2	2022Q4	2023Q1	2023Q2	2023Q4	2024Q1	2024Q2	2024Q4	2025Q1	2025Q2	2025Q4
Operating	29.8	20.6	7.58	7.28	9.50	12.1	22.0	—	8.63	11.0	22.5	14.8	2.56	16.7	8.29	12.6	24.2	14.8	18.7	34.9	14.2	15.1	24.9	13.3	13.5	27.9	9.28	11.9	21.6
Investing	-22.4	-31.0	-3.91	-0.66	0.03	-4.08	-5.31	—	-4.62	-4.17	-6.99	-2.72	-2.32	-8.24	-0.59	-2.95	-1.23	-4.27	-6.21	-12.0	-4.24	-3.01	-10.5	-3.53	-3.34	-8.29	-3.96	-5.41	-7.45
Financing	3.81	-0.77	-7.15	-7.08	-11.6	-8.35	-8.92	—	-9.30	-9.87	-16.0	-7.78	5.72	-5.16	-8.42	-6.55	-19.7	-9.02	-11.2	-21.8	-8.38	-9.00	-20.9	-8.25	-11.8	-18.3	-9.18	-10.1	-16.5
Cash at period end	31.8	19.1	20.7	20.3	19.5	19.1	26.7	26.7	21.5	18.5	18.1	21.8	27.9	31.8	31.0	34.1	37.0	38.4	39.0	40.3	42.1	45.1	38.8	40.0	38.1	39.1	35.6	32.7	30.2

Profitability

Quarterly · %

Net margin 7.7%

Gross, operating and net margin = the respective profit ÷ revenue.

Show table：Profitability

Item	2015Q4	2016Q4	2017Q3	2017Q4	2018Q2	2018Q3	2018Q4	2019Q1	2019Q1	2019Q2	2019Q4	2020Q1	2020Q2	2020Q4	2021Q1	2021Q2	2021Q4	2022Q1	2022Q2	2022Q4	2023Q1	2023Q2	2023Q4	2024Q1	2024Q2	2024Q4	2025Q1	2025Q2	2025Q4
Net margin	0.7%	2.0%	5.4%	4.5%	6.2%	5.8%	5.5%	—	7.2%	3.3%	4.0%	-0.0%	-55.8%	-4.0%	10.2%	5.7%	7.6%	8.4%	18.0%	9.3%	10.0%	4.2%	5.4%	10.2%	4.7%	4.1%	6.9%	5.5%	7.7%

Returns & leverage

Quarterly · %

ROE 12.8% ROA 6.0% Debt ratio 52.7%

ROE / ROA = trailing four-quarter net income ÷ average equity / total assets (annual mode: the year’s net income ÷ average of opening and closing). Not computed when the denominator is zero or negative.

Show table：Returns & leverage

Item	2015Q4	2016Q4	2017Q3	2017Q4	2018Q2	2018Q3	2018Q4	2019Q1	2019Q1	2019Q2	2019Q4	2020Q1	2020Q2	2020Q4	2021Q1	2021Q2	2021Q4	2022Q1	2022Q2	2022Q4	2023Q1	2023Q2	2023Q4	2024Q1	2024Q2	2024Q4	2025Q1	2025Q2	2025Q4
ROE	—	—	—	7.4%	10.1%	10.3%	10.7%	—	—	—	—	—	-5.3%	-8.5%	—	-7.5%	10.1%	—	20.8%	29.8%	—	24.7%	19.4%	—	11.6%	12.8%	—	9.4%	12.8%
ROA	—	—	—	3.5%	—	4.8%	5.3%	—	—	—	—	—	-2.2%	-3.8%	—	-3.2%	4.3%	—	8.8%	12.7%	—	11.3%	8.6%	—	5.5%	5.9%	—	4.4%	6.0%
Debt ratio	—	54.2%	—	51.4%	—	50.6%	49.3%	51.1%	—	52.0%	52.9%	—	57.2%	58.2%	—	57.0%	56.6%	—	56.6%	56.5%	—	53.7%	53.6%	—	52.6%	53.5%	—	52.8%	52.7%

Revenue & profit

Year-to-date · In bn (USD)

Revenue 135 bn Net income 8.38 bn

Year-to-date = summed from the first quarter of the fiscal year; balance-sheet items are period-end balances.

Balance sheet

Year-to-date · In bn (USD)

Total assets 370 bn Total liabilities 195 bn

Equity = assets − liabilities. Balance-sheet figures are period-end balances, not cumulative.

Cash flow

Year-to-date · In bn (USD)

Operating 21.2 bn Investing -9.36 bn Financing -19.3 bn

Positive = cash in, negative = cash out.

Profitability

Year-to-date · %

Net margin 6.2%

Gross, operating and net margin = the respective profit ÷ revenue.

Returns & leverage

Year-to-date · %

ROE 12.8% ROA 6.0% Debt ratio 52.7%

Source: SEC EDGAR (XBRL company facts)

Annual reports by year

	20-F
2025	Open full text →
2024	Open full text →
2023	Open full text →

20-F: annual report of a foreign private issuer. Filings are the original documents hosted on SEC EDGAR — this site neither mirrors nor edits them.

FAQ

Where can I read Shell plc (SHEL) annual reports?

Every year in the table above links straight to the full text on SEC EDGAR. US annual reports are web pages (HTML) rather than PDFs, so you can read and search them in the browser without downloading anything. 3 filings are currently indexed.

What is the difference between a 10-K and a 20-F?

A 10-K is the annual report of a US domestic issuer, with sections fixed by law: Item 1 Business, Item 1A Risk Factors, Item 7 Management's Discussion and Analysis. A 20-F is filed by foreign private issuers — Taiwanese companies with US ADRs, such as TSMC, file 20-F rather than 10-K. A 40-F applies to Canadian issuers under the MJDS.

Are earnings call materials available here?

No. Earnings calls are not SEC filings, so US pages on this site cover annual reports only. Taiwan has a mandatory investor-conference disclosure regime, and those materials are indexed under Annual Reports.

Source: US Securities and Exchange Commission (SEC) EDGAR. This site indexes public filings and links to them; it hosts no copies, offers no investment advice, and makes no warranty as to timeliness or completeness.
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