Filing Flows › Shell (SHEL) › Q1 2025 › vs Q1 2024
Shell (SHEL) Q1 2025 vs Q1 2024 (year over year)
Shell's revenue fell $4.6B (-6%) from $74.7B in Q1 2024 to $70.2B in Q1 2025. Operating margin 12.8% against 14.8% (-2.0 pts).
Shell, Q1 2025: revenue $70.2B (-6% year over year), operating margin 12.8%, net earnings $4.8B, operating cash flow $9.3B. The chart draws each line against Q1 2024, the increases inside each band.
Margins
| Q1 2025 | Q1 2024 | Change | |
|---|---|---|---|
| Operating margin | 12.8% | 14.8% | -2.0 pts |
| Net margin | 6.8% | 9.8% | -3.0 pts |
Every line
| Line | Q1 2025 | Q1 2024 | Change | % |
|---|---|---|---|---|
| Revenue | $70.2B | $74.7B | −$4.6B | -6% |
| Operating profit | $9.0B | $11.0B | −$2.1B | -19% |
| Costs & expenses | $61.2B | $63.7B | −$2.5B | -4% |
| Pre-tax earnings | $9.0B | $11.0B | −$2.1B | -19% |
| Research & development | $185M | $212M | −$27.0M | -13% |
| SG&A | $2.8B | $3.0B | −$135M | -5% |
| Other operating costs | $58.2B | $60.5B | −$2.3B | -4% |
| Net earnings | $4.8B | $7.4B | −$2.6B | -35% |
| Minority interests | $95.0M | $81.0M | $14.0M | +17% |
| Income tax | $4.1B | $3.6B | $479M | +13% |
| Working capital & other | $4.5B | $6.0B | −$1.5B | -25% |
| Operating cash flow | $9.3B | $13.3B | −$4.0B | -30% |
Questions
How much did Shell's revenue grow year over year in Q1 2025?
Shell's revenue fell $4.6B (-6%) from $74.7B in Q1 2024 to $70.2B in Q1 2025. Operating margin 12.8% against 14.8% (-2.0 pts).