Filing Flows › Shell (SHEL) › Operating margin
Shell (SHEL) operating margin by quarter
Shell's operating margin was 19.4% in Q3 2026 (third quarter 2026), +6.0 pts from Q1 2026. Over the last 4 quarters it ranged from 10.8% (Q4 2025) to 19.4% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 19.4% | +6.0 pts | +7.7 pts |
| Q1 2026 | 13.4% | +2.6 pts | — |
| Q4 2025 | 10.8% | -0.9 pts | — |
| Q3 2025 | 11.6% | — | — |
Q3 2026 at a glance
Shell, Q3 2026: revenue $92.8B (+36% year over year), operating margin 19.4%, net earnings $12.1B, operating cash flow $21.0B. The chart follows the revenue to costs, profit and cash.
Questions
What is Shell's operating margin?
Shell's operating margin was 19.4% in Q3 2026 (third quarter 2026), +6.0 pts from Q1 2026.
How has Shell's operating margin changed?
Over the last 4 quarters it ranged from 10.8% (Q4 2025) to 19.4% (Q3 2026).