Shell annual r&d spending
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Shell R&D Spending Growth & History (SHEL)
Shell's r&d spending was $1.17B for fiscal 2025.
View full Shell company overviewShell annual r&d spending history
| Fiscal year | Period ended | R&D spending | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.17B | $71.0M | +6.46% |
| 2024 | 2024-12-31 | $1.10B | −$188.0M | −14.61% |
| 2023 | 2023-12-31 | $1.29B | $212.0M | +19.72% |
| 2022 | 2022-12-31 | $1.07B | $260.0M | +31.90% |
| 2021 | 2021-12-31 | $815.0M | −$92.0M | −10.14% |
| 2020 | 2020-12-31 | $907.0M | −$55.0M | −5.72% |
| 2019 | 2019-12-31 | $962.0M | −$24.0M | −2.43% |
| 2018 | 2018-12-31 | $986.0M | $64.0M | +6.94% |
| 2017 | 2017-12-31 | $922.0M | −$92.0M | −9.07% |
| 2016 | 2016-12-31 | $1.01B | −$79.0M | −7.23% |
| 2015 | 2015-12-31 | $1.09B | — | — |
Shell quarterly r&d spending
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 | R&D spending | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $277.0M | −$1.0M | −0.36% |
| Q1 2026 | 2026-03-31 | $167.0M | −$18.0M | −9.73% |
| Q4 2025 | 2025-12-31 | $298.0M | — | — |
| Q3 2025 | 2025-09-30 | $409.0M | — | — |
| Q2 2025 | 2025-06-30 | $278.0M | $15.0M | +5.70% |
| Q1 2025 | 2025-03-31 | $185.0M | −$27.0M | −12.74% |
| Q2 2024 | 2024-06-30 | $263.0M | −$34.0M | −11.45% |
| Q1 2024 | 2024-03-31 | $212.0M | −$41.0M | −16.21% |
| Q2 2023 | 2023-06-30 | $297.0M | $33.0M | +12.50% |
| Q1 2023 | 2023-03-31 | $253.0M | $64.0M | +33.86% |
| Q2 2022 | 2022-06-30 | $264.0M | $63.0M | +31.34% |
| Q1 2022 | 2022-03-31 | $189.0M | $23.0M | +13.86% |
| Q2 2021 | 2021-06-30 | $201.0M | −$31.0M | −13.36% |
| Q1 2021 | 2021-03-31 | $166.0M | −$77.0M | −31.69% |
| Q2 2020 | 2020-06-30 | $232.0M | $7.0M | +3.11% |
| Q1 2020 | 2020-03-31 | $243.0M | $31.0M | +14.62% |
| Q2 2019 | 2019-06-30 | $225.0M | −$12.0M | −5.06% |
| Q1 2019 | 2019-03-31 | $212.0M | — | — |
| Q3 2018 | 2018-09-30 | $227.0M | −$3.0M | −1.30% |
| Q2 2018 | 2018-06-30 | $237.0M | — | — |
| Q3 2017 | 2017-09-30 | $230.0M | — | — |
Shell r&d spending trends
Over the last five fiscal years, Shell's r&d spending increased from $907.0M to $1.17B, a change of $263.0M. The latest reported quarter, Q2 2026, shows $277.0M.
About the metric
What research and development spending means
Research and development (R&D) spending covers the costs of creating and improving products, services, software, technologies, and processes. Higher R&D spending may support future innovation, but the amount alone does not show whether those investments will generate returns.
Calculation and source
SEC-reported R&D expense
TickerStat standardizes research and development expense reported in company SEC filings, including the software-specific US-GAAP R&D concept when it is the filer’s primary R&D expense line. It is historical company-reported spending, not an estimate or forecast. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Shell source filings ↗Community posts
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