Shell annual free cash flow
2022
2023
2024
2025
Shell Free Cash Flow (FCF) History (SHEL)
Shell reported $23.92B in free cash flow for fiscal 2025, a decrease of 31.84% from the previous fiscal year, with a free cash flow margin of 8.96%.
View full Shell company overviewShell free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $23.92B | −$11.17B | −31.84% | +8.96% |
| 2024 | 2024-12-31 | $35.09B | $3.89B | +12.46% | +12.34% |
| 2023 | 2023-12-31 | $31.20B | −$14.62B | −31.90% | +9.85% |
| 2022 | 2022-12-31 | $45.81B | — | — | +12.01% |
Shell quarterly free cash flow
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $17.40B | $10.91B | +168.24% | +18.38% |
| Q1 2026 | 2026-03-31 | $2.31B | — | — | +3.31% |
| Q4 2025 | 2025-12-31 | $4.19B | — | — | +6.54% |
| Q3 2025 | 2025-09-30 | $7.65B | — | — | +11.22% |
| Q2 2025 | 2025-06-30 | $6.49B | — | — | +9.92% |
Shell free cash flow growth trends
Shell's latest reported quarter, Q2 2026, generated $17.40B in free cash flow, an increase of 168.24% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Shell source filings ↗Community posts
Constellation agrees to buy Shell’s Rhode Island power plant for $715 million
Constellation ($CEG) agreed to acquire the Rhode Island State Energy Center from Shell ($SHEL) for $715 million. The 609-megawatt combined-cycle natural-gas plant is located in Johnston, Rhode Island. Constellation estimates that first-year ...