Filing Flows › Shell (SHEL) › Q4 2025
Shell (SHEL) Q4 2025 earnings results (fourth quarter 2025)
6-K filed Feb 5, 2026
Shell (SHEL) reported revenue of $64.1B for the fourth quarter 2025 (Q4 2025), -3% from a year earlier. Operating margin was 10.8%, net earnings $4.1B (6.5% of revenue).
Shell, Q4 2025: revenue $64.1B (-3% year over year), operating margin 10.8%, net earnings $4.1B, operating cash flow $9.4B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $64.1B | — | -3% |
| Operating profit | $6.9B | — | +64% |
| Net earnings | $4.1B | — | +345% |
| Operating cash flow | $9.4B | — | -28% |
What changed
Revenue was $64.1B in Q4 2025, down 3% year over year.
Operating profit was $6.9B, a 10.8% margin (up 4.4 points year over year). Total costs fell 8% while revenue fell 3%. Net earnings were $4.1B, up 345% year over year. The effective tax rate was 39.4%.
Operating cash flow was $9.4B (down 28% year over year), 226% of net earnings. Working capital and other items added $5.3B.
Questions
What was Shell's revenue in the fourth quarter 2025?
Shell (SHEL) reported revenue of $64.1B for the fourth quarter 2025 (Q4 2025), -3% from a year earlier.
Was Shell profitable in the fourth quarter 2025?
Operating profit was $6.9B (10.8% of revenue) and net earnings $4.1B.
Source: Shell 6-K on SEC EDGAR.