Shell annual debt-to-assets ratio
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Shell Debt-to-Assets Ratio Growth & History (SHEL)
Shell's debt-to-assets ratio was 0.28 for fiscal 2025.
View full Shell company overviewShell annual debt-to-assets ratio history
| Fiscal year | Period ended | Debt-to-assets ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.28 | 0.01 | +3.47% |
| 2024 | 2024-12-31 | 0.27 | 0.00 | +1.49% |
| 2023 | 2023-12-31 | 0.27 | 0.02 | +6.91% |
| 2022 | 2022-12-31 | 0.25 | −0.04 | −12.76% |
| 2021 | 2021-12-31 | 0.29 | −0.07 | −19.85% |
| 2020 | 2020-12-31 | 0.36 | 0.05 | +14.56% |
| 2019 | 2019-12-31 | 0.31 | 0.12 | +63.16% |
| 2018 | 2018-12-31 | 0.19 | −0.02 | −8.55% |
| 2017 | 2017-12-31 | 0.21 | −0.01 | −6.41% |
| 2016 | 2016-12-31 | 0.22 | — | — |
Shell quarterly debt-to-assets ratio
Q4.16
Q4.17
Q3.18
Q4.18
Q2.19
Q4.19
Q2.20
Q4.20
Q2.21
Q4.21
Q2.22
Q4.22
Q2.23
Q4.23
Q2.24
Q4.24
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-assets ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.19 | −0.00 | −1.55% |
| Q1 2026 | 2026-03-31 | 0.20 | — | — |
| Q4 2025 | 2025-12-31 | 0.28 | 0.01 | +3.47% |
| Q3 2025 | 2025-09-30 | 0.20 | — | — |
| Q2 2025 | 2025-06-30 | 0.20 | 0.00 | +2.05% |
| Q4 2024 | 2024-12-31 | 0.27 | 0.00 | +1.49% |
| Q2 2024 | 2024-06-30 | 0.19 | −0.01 | −5.96% |
| Q4 2023 | 2023-12-31 | 0.27 | 0.02 | +6.91% |
| Q2 2023 | 2023-06-30 | 0.20 | 0.08 | +62.14% |
| Q4 2022 | 2022-12-31 | 0.25 | −0.04 | −12.76% |
| Q2 2022 | 2022-06-30 | 0.13 | −0.05 | −30.47% |
| Q4 2021 | 2021-12-31 | 0.29 | −0.07 | −19.85% |
| Q2 2021 | 2021-06-30 | 0.18 | −0.10 | −35.58% |
| Q4 2020 | 2020-12-31 | 0.36 | 0.05 | +14.56% |
| Q2 2020 | 2020-06-30 | 0.28 | 0.05 | +21.69% |
| Q4 2019 | 2019-12-31 | 0.31 | 0.12 | +63.16% |
| Q2 2019 | 2019-06-30 | 0.23 | — | — |
| Q4 2018 | 2018-12-31 | 0.19 | −0.02 | −8.55% |
| Q3 2018 | 2018-09-30 | 0.19 | — | — |
| Q4 2017 | 2017-12-31 | 0.21 | −0.01 | −6.41% |
| Q4 2016 | 2016-12-31 | 0.22 | — | — |
Shell debt-to-assets ratio trends
Over the last five fiscal years, Shell's debt-to-assets ratio decreased from 0.36 to 0.28, a change of −0.08. The latest reported quarter, Q2 2026, shows 0.19.
About the metric
What the debt-to-assets ratio means
The debt-to-assets ratio shows the portion of a company’s reported assets financed with interest-bearing debt. It is a leverage measure and should not be confused with total liabilities divided by assets.
Calculation and source
How debt-to-assets is calculated
TickerStat calculates debt-to-assets as total interest-bearing debt divided by total assets at the same reporting-period end. Periods with missing debt or non-positive assets are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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