Filing Flows › Shell (SHEL) › R&D spending
Shell (SHEL) R&D spending by quarter
Shell's R&D spending was $232M in Q3 2026 (third quarter 2026), +39% from Q1 2026. Over the last 4 quarters it ranged from $167M (Q1 2026) to $409M (Q3 2025).
| Quarter | R&D spending | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $232M | +39% | -43% |
| Q1 2026 | $167M | -44% | — |
| Q4 2025 | $298M | -27% | — |
| Q3 2025 | $409M | — | — |
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 R&D spending?
Shell's R&D spending was $232M in Q3 2026 (third quarter 2026), +39% from Q1 2026.
How has Shell's R&D spending changed?
Over the last 4 quarters it ranged from $167M (Q1 2026) to $409M (Q3 2025).