Filing Flows › Shell (SHEL) › Q3 2025
Shell (SHEL) Q3 2025 earnings results (third quarter 2025)
6-K filed Oct 30, 2025
Shell (SHEL) reported revenue of $68.2B for the third quarter 2025 (Q3 2025), -4% from a year earlier. Operating margin was 11.6%, net earnings $5.3B (7.8% of revenue).
Shell, Q3 2025: revenue $68.2B (-4% year over year), operating margin 11.6%, net earnings $5.3B, operating cash flow $12.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $68.2B | — | -4% |
| Operating profit | $7.9B | — | +9% |
| Net earnings | $5.3B | — | +24% |
| Operating cash flow | $12.2B | — | -17% |
What changed
Revenue was $68.2B in Q3 2025, down 4% year over year.
Operating profit was $7.9B, a 11.6% margin (up 1.4 points year over year). Total costs fell 6% while revenue fell 4%. The fastest-growing cost line was Research & development (+39%). Net earnings were $5.3B, up 24% year over year. The effective tax rate was 31.6%.
Operating cash flow was $12.2B (down 17% year over year), 225% of net earnings. Working capital and other items added $6.8B.
Questions
What was Shell's revenue in the third quarter 2025?
Shell (SHEL) reported revenue of $68.2B for the third quarter 2025 (Q3 2025), -4% from a year earlier.
Was Shell profitable in the third quarter 2025?
Operating profit was $7.9B (11.6% of revenue) and net earnings $5.3B.
Source: Shell 6-K on SEC EDGAR.