Shell annual operating expenses
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Shell Operating Expenses Growth & History (SHEL)
Shell's operating expenses was $35.67B for fiscal 2025.
View full Shell company overviewShell annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $35.67B | −$1.24B | −3.36% |
| 2024 | 2024-12-31 | $36.92B | −$3.04B | −7.62% |
| 2023 | 2023-12-31 | $39.96B | −$281.43B | −87.57% |
| 2022 | 2022-12-31 | $321.39B | $78.56B | +32.35% |
| 2021 | 2021-12-31 | $242.83B | $32.67B | +15.54% |
| 2020 | 2020-12-31 | $210.16B | −$116.46B | −35.66% |
| 2019 | 2019-12-31 | $326.62B | −$34.31B | −9.51% |
| 2018 | 2018-12-31 | $360.94B | $67.19B | +22.88% |
| 2017 | 2017-12-31 | $293.74B | $59.31B | +25.30% |
| 2016 | 2016-12-31 | $234.43B | −$35.68B | −13.21% |
| 2015 | 2015-12-31 | $270.11B | — | — |
Shell quarterly operating expenses
Q3.17
Q2.18
Q3.18
Q1.19
Q2.19
Q1.20
Q2.20
Q1.21
Q2.21
Q1.22
Q2.22
Q1.23
Q2.23
Q1.24
Q2.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $3.30B | −$4.97B | −60.10% |
| Q1 2026 | 2026-03-31 | $3.07B | −$5.51B | −64.22% |
| Q4 2025 | 2025-12-31 | $4.12B | — | — |
| Q3 2025 | 2025-09-30 | $3.84B | — | — |
| Q2 2025 | 2025-06-30 | $8.27B | −$685.0M | −7.65% |
| Q1 2025 | 2025-03-31 | $8.57B | −$55.08B | −86.53% |
| Q2 2024 | 2024-06-30 | $8.95B | −$61.72B | −87.34% |
| Q1 2024 | 2024-03-31 | $63.66B | −$11.01B | −14.74% |
| Q2 2023 | 2023-06-30 | $70.67B | −$6.25B | −8.13% |
| Q1 2023 | 2023-03-31 | $74.67B | $2.28B | +3.15% |
| Q2 2022 | 2022-06-30 | $76.92B | $19.29B | +33.47% |
| Q1 2022 | 2022-03-31 | $72.39B | $21.51B | +42.28% |
| Q2 2021 | 2021-06-30 | $57.63B | $1.24B | +2.19% |
| Q1 2021 | 2021-03-31 | $50.88B | −$9.46B | −15.68% |
| Q2 2020 | 2020-06-30 | $56.40B | −$30.52B | −35.12% |
| Q1 2020 | 2020-03-31 | $60.34B | −$15.92B | −20.88% |
| Q2 2019 | 2019-06-30 | $86.92B | −$2.74B | −3.05% |
| Q1 2019 | 2019-03-31 | $76.26B | — | — |
| Q3 2018 | 2018-09-30 | $91.81B | $19.74B | +27.39% |
| Q2 2018 | 2018-06-30 | $89.66B | — | — |
| Q3 2017 | 2017-09-30 | $72.07B | — | — |
Shell operating expenses trends
Over the last five fiscal years, Shell's operating expenses decreased from $210.16B to $35.67B, a change of −$174.49B. The latest reported quarter, Q2 2026, shows $3.30B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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 ...