What is Shell's earnings per share (EPS)?

Shell (SHEL) reported diluted earnings per share of $3.00 for fiscal year 2025. This represents a 18.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Shell (SHEL) Financials

SHEL

FY2025 annual

Revenue $266.9B -6.1% YoY

Net Income $18.1B +9.7% YoY

EPS (Diluted) $3.00 +18.6% YoY

Operating Cash Flow $42.9B -21.6% YoY

Market Cap $265.9B as of Sep 5, 2026

Price / Sales 1.0x on $266.9B revenue, FY2025

Price / Earnings 14.7x on $18.1B net income, FY2025

Price / Book 1.5x on $175.3B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 12, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SHEL SEC filings page.

Shell (SHEL) reported $266.9B in revenue for fiscal year 2025, down 6.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SHEL FY2025 2026-09-05

Shell’s dominant business mechanic is a capital-heavy cash generator whose earnings fluctuate more than its operating cash engine.

Shell’s earnings profile is cyclical rather than purely volume-driven: net margin moved from 11.2% in FY2022 to 6.8% in FY2025 even though revenue stayed below its FY2022 peak. The latest margin recovered from 5.8% in FY2024, pointing to margin normalization rather than renewed sales scale as the immediate reason profit improved.

Operating cash flow remained positive and exceeded net income in every reported year; in FY2025, $42.9B of operating cash flow compared with $18.1B of net income. The cash–earnings gap is consistent with a capital-heavy accounting profile, where $25.3B of depreciation helps explain why cash conversion is stronger than headline profit alone suggests.

FY2025 buybacks and dividends totaled $22.6B against $42.9B of operating cash flow, so shareholder distributions absorbed more than half of internally generated cash. Debt-to-equity was 0.4x while the current ratio was 1.3x, combining moderate long-term leverage with a relatively limited short-term liquidity cushion.

Financial Health Signals

Financial health score not available

Shell does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Shell passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.37x

For every $1 of reported earnings, Shell generates $2.37 in operating cash flow ($42.9B OCF vs $18.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$30.2B

YoY-22.7%

QoQ-7.5%

5Y CAGR+7.1%

Shell held $30.2B in cash against $75.6B in long-term debt as of Q4 2025.

Shares Outstanding

5.69B

YoY-6.5%

Shell had 5.69B shares outstanding in Q4 2025. This represents a decrease of 6.5% from the same quarter a year earlier.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

SHEL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SHEL quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2220-F/A	FY2120-F/A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$266.9B-6.1%	$284.3B-10.2%	$316.6B-17.0%	$381.3B+45.8%	$261.5B+44.8%	$180.5B-47.7%	$344.9B-11.2%	$388.4B+27.3%	$305.2B+30.6%	$233.6B-11.8%	$265.0B
Interest Expense	$4.7B-2.4%	$4.8B+2.4%	$4.7B+46.9%	$3.2B-11.8%	$3.6B-11.8%	$4.1B-12.8%	$4.7B+25.2%	$3.7B-7.3%	$4.0B+26.2%	$3.2B+69.7%	$1.9B
Income Tax	$11.6B-13.2%	$13.4B+3.2%	$13.0B-40.8%	$21.9B+138.5%	$9.2B+269.3%	-$5.4B-160.0%	$9.1B-22.7%	$11.7B+149.5%	$4.7B+466.3%	$829.0M+641.8%	-$153.0M
Net Income	$18.1B+9.7%	$16.5B-15.9%	$19.6B-54.2%	$42.9B+107.8%	$20.6B+195.8%	-$21.5B-231.0%	$16.4B-31.3%	$23.9B+77.9%	$13.4B+181.2%	$4.8B+117.1%	$2.2B
EPS (Basic)	$3.03+18.8%	$2.55-11.5%	$2.88-50.0%	$5.76+122.4%	$2.59+193.2%	-$2.78-241.1%	$1.97-30.1%	$2.82+78.5%	$1.58+172.4%	$0.58+87.1%	$0.31
EPS (Diluted)	$3.00+18.6%	$2.53-11.2%	$2.85-50.1%	$5.71+122.2%	$2.57+192.4%	-$2.78-242.6%	$1.95-30.4%	$2.80+79.5%	$1.56+169.0%	$0.58+93.3%	$0.30
Diluted Shares (Avg)	5.95B-6.5%	6.36B-6.4%	6.80B-8.2%	7.41B-5.1%	7.81B+0.1%	7.80B-3.9%	8.11B-2.8%	8.35B+0.6%	8.30B+5.2%	7.89B+23.4%	6.39B

Metric	Q4'2510-K	Q2'256-K	Q1'256-K	Q4'2410-K	Q2'246-K	Q1'2410-Q	Q4'2320-F/A	Q2'2310-Q
Revenue	N/A	$65.4B-12.2%	$69.2B-4.5%	N/A	$74.5B-0.2%	$72.5B-16.7%	N/A	$74.6B-25.5%
Interest Expense	N/A	$1.1B-13.0%	$1.1B-3.8%	N/A	$1.2B+2.0%	$1.2B-0.1%	N/A	$1.2B+74.2%
Income Tax	N/A	$2.3B-37.9%	$4.1B+13.3%	N/A	$3.8B+71.0%	$3.6B-35.4%	N/A	$2.2B-72.3%
Net Income	N/A	$3.6B-0.2%	$4.9B-34.5%	N/A	$3.6B+15.7%	$7.4B-15.2%	N/A	$3.2B-82.7%
EPS (Basic)	N/A	$0.61+10.9%	$0.79-30.7%	N/A	$0.55+19.6%	$1.14-9.5%	N/A	$0.46-81.0%
EPS (Diluted)	N/A	$0.60+9.1%	$0.79-30.1%	N/A	$0.55+19.6%	$1.13-9.6%	N/A	$0.46-80.8%
Diluted Shares (Avg)	N/A	6.00B-6.4%	6.09B-6.4%	N/A	6.42B-6.4%	6.50B-6.8%	N/A	6.85B-8.8%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.

SHEL Balance Sheet

SHEL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2220-F/A	FY2120-F/A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$370.4B-4.5%	$387.6B-4.6%	$406.3B-8.3%	$443.0B+9.6%	$404.4B+6.6%	$379.3B-6.2%	$404.3B+1.3%	$399.2B-1.9%	$407.1B-1.0%	$411.3B	N/A
Current Assets	$107.2B-16.2%	$127.9B-4.6%	$134.1B-19.2%	$165.9B+28.9%	$128.8B+40.0%	$92.0B-0.8%	$92.7B-4.9%	$97.5B+2.2%	$95.4B+10.2%	$86.6B	N/A
Cash & Equivalents	$30.2B-22.7%	$39.1B+0.9%	$38.8B-3.7%	$40.2B+8.9%	$37.0B+16.1%	$31.8B+76.3%	$18.1B-32.5%	$26.7B+31.7%	$20.3B+6.2%	$19.1B-39.8%	$31.8B
Inventory	$22.2B-5.2%	$23.4B-10.0%	$26.0B-18.4%	$31.9B+26.3%	$25.3B+29.8%	$19.5B-19.2%	$24.1B+14.0%	$21.1B-16.3%	$25.2B+15.8%	$21.8B	N/A
Accounts Receivable	$44.6B-2.8%	$45.9B-13.9%	$53.3B-19.9%	$66.5B+25.0%	$53.2B+58.2%	$33.6B-22.5%	$43.4B+2.3%	$42.4B-4.8%	$44.6B-2.4%	$45.7B	N/A
Goodwill	$15.7B-2.3%	$16.0B-3.8%	$16.7B+3.9%	$16.0B+7.5%	$14.9B-34.3%	$22.7B-3.3%	$23.5B-0.4%	$23.6B-2.5%	$24.2B+0.9%	$24.0B	N/A
Total Liabilities	$195.0B-6.0%	$207.4B-4.8%	$217.9B-13.0%	$250.4B+9.3%	$229.1B+3.8%	$220.7B+3.2%	$213.9B+8.8%	$196.7B-6.0%	$209.3B-6.1%	$222.8B	N/A
Current Liabilities	$82.4B-13.3%	$95.0B-0.5%	$95.5B-21.3%	$121.3B+27.0%	$95.5B+29.6%	$73.7B-7.4%	$79.6B+2.3%	$77.8B-2.4%	$79.8B+8.0%	$73.8B	N/A
Non-Current Liabilities	$112.6B+0.2%	$112.4B-8.2%	$122.4B-5.2%	$129.1B-3.3%	$133.5B-9.2%	$147.0B+9.5%	$134.2B+13.0%	$118.8B-8.2%	$129.5B-13.0%	$148.9B	N/A
Long-Term Debt	$75.6B-1.9%	$77.1B-5.5%	$81.5B-2.7%	$83.8B-5.9%	$89.1B-17.5%	$108.0B+12.0%	$96.4B+25.5%	$76.8B-10.3%	$85.7B-7.4%	$92.5B	N/A
Total Equity	$175.3B-2.7%	$180.2B-4.4%	$188.4B-2.2%	$192.6B+9.9%	$175.3B+10.6%	$158.5B-16.8%	$190.5B-6.0%	$202.5B+2.4%	$197.8B+4.9%	$188.5B+14.9%	$164.1B
Retained Earnings	$153.5B-3.3%	$158.8B-4.3%	$165.9B-2.1%	$169.5B+10.8%	$153.0B+7.3%	$142.6B-17.3%	$172.4B-5.6%	$182.6B+2.8%	$177.6B+1.2%	$175.6B	N/A

Metric	Q4'2510-K	Q2'256-K	Q1'256-K	Q4'2410-K	Q2'246-K	Q1'2410-Q	Q4'2320-F/A	Q2'2310-Q
Total Assets	$370.4B-4.5%	$387.9B-1.7%	N/A	$387.6B-4.6%	$394.8B-4.9%	N/A	$406.3B-8.3%	$415.0B-7.3%
Current Assets	$107.2B-16.2%	$121.6B-5.5%	N/A	$127.9B-4.6%	$128.6B-8.4%	N/A	$134.1B-19.2%	$140.5B-15.0%
Cash & Equivalents	$30.2B-22.7%	$32.7B-14.3%	$35.6B-10.9%	$39.1B+0.9%	$38.1B-15.4%	$39.9B-5.1%	$38.8B-3.7%	$45.1B+15.7%
Inventory	$22.2B-5.2%	$23.3B-12.0%	N/A	$23.4B-10.0%	$26.4B-1.9%	N/A	$26.0B-18.4%	$27.0B-25.3%
Accounts Receivable	$44.6B-2.8%	$45.6B-10.0%	N/A	$45.9B-13.9%	$50.6B-3.4%	N/A	$53.3B-19.9%	$52.4B-21.5%
Goodwill	$15.7B-2.3%	$16.3B-1.2%	N/A	$16.0B-3.8%	$16.5B-6.3%	N/A	$16.7B+3.9%	$17.7B-30.9%
Total Liabilities	$195.0B-6.0%	$204.8B-1.3%	N/A	$207.4B-4.8%	$207.6B-6.9%	N/A	$217.9B-13.0%	$222.9B-12.1%
Current Liabilities	$82.4B-13.3%	$92.0B+0.6%	N/A	$95.0B-0.5%	$91.5B-4.8%	N/A	$95.5B-21.3%	$96.1B-19.0%
Non-Current Liabilities	$112.6B+0.2%	$112.8B-2.8%	N/A	$112.4B-8.2%	$116.1B-8.4%	N/A	$122.4B-5.2%	$126.8B-6.0%
Long-Term Debt	$75.6B-1.9%	$75.7B+0.3%	$76.5B-4.3%	$77.1B-5.5%	$75.5B-10.5%	$79.9B	$81.5B-2.7%	$84.4B+50.2%
Total Equity	$175.3B-2.7%	$183.1B-2.2%	N/A	$180.2B-4.4%	$187.2B-2.6%	N/A	$188.4B-2.2%	$192.1B-1.1%
Retained Earnings	$153.5B-3.3%	N/A	N/A	$158.8B-4.3%	N/A	N/A	$165.9B-2.1%	N/A

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

SHEL Cash Flow Statement

SHEL quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2220-F/A	FY2120-F/A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$42.9B-21.6%	$54.7B+0.9%	$54.2B-20.8%	$68.4B+51.7%	$45.1B+32.3%	$34.1B-19.1%	$42.2B-20.5%	$53.1B+48.9%	$35.6B+72.9%	$20.6B-30.8%	$29.8B
Depreciation & Amortization	$25.3B-5.9%	$26.9B-14.1%	$31.3B+68.9%	$18.5B-31.2%	$26.9B-48.7%	$52.4B+82.7%	$28.7B+29.7%	$22.1B-15.6%	$26.2B+4.9%	$25.0B-6.4%	$26.7B
Investing Cash Flow	-$16.8B-10.9%	-$15.2B+14.5%	-$17.7B+21.0%	-$22.4B-371.5%	-$4.8B+64.1%	-$13.3B+15.9%	-$15.8B-15.5%	-$13.7B-70.1%	-$8.0B+74.1%	-$31.0B-38.2%	-$22.4B
Financing Cash Flow	-$35.8B+6.8%	-$38.4B-0.5%	-$38.2B+8.9%	-$42.0B-21.0%	-$34.7B-379.8%	-$7.2B+79.5%	-$35.2B-8.2%	-$32.5B-20.2%	-$27.1B-3413.1%	-$771.0M-120.2%	$3.8B
Dividends Paid	$8.5B-2.3%	$8.7B+3.3%	$8.4B+13.3%	$7.4B+18.4%	$6.3B-15.8%	$7.4B-51.2%	$15.2B-3.0%	$15.7B+44.1%	$10.9B+12.4%	$9.7B+3.3%	$9.4B
Share Buybacks	$14.1B+0.1%	$14.1B-3.5%	$14.6B-21.4%	$18.5B+428.0%	$3.5B+189.4%	$1.2B-88.2%	$10.3B+127.6%	$4.5B	N/A	N/A	$1.0M

Metric	Q4'2510-K	Q2'256-K	Q1'256-K	Q4'2410-K	Q2'246-K	Q1'2410-Q	Q4'2320-F/A	Q2'2310-Q
Operating Cash Flow	N/A	$11.9B-11.6%	$9.3B-30.4%	N/A	$13.5B-10.7%	$13.3B-5.9%	N/A	$15.1B-18.9%
Depreciation & Amortization	N/A	$6.7B-11.7%	$5.4B-7.5%	N/A	$7.6B-4.0%	$5.9B-6.4%	N/A	$7.9B+2362.1%
Investing Cash Flow	N/A	-$5.4B-62.0%	-$4.0B-12.2%	N/A	-$3.3B-10.7%	-$3.5B+16.8%	N/A	-$3.0B+51.4%
Financing Cash Flow	N/A	-$10.1B+14.7%	-$9.2B-11.3%	N/A	-$11.8B-31.6%	-$8.2B+1.6%	N/A	-$9.0B+19.3%
Dividends Paid	N/A	$2.1B-2.5%	$2.2B-1.4%	N/A	$2.2B+9.8%	$2.2B+8.9%	N/A	$2.0B+7.1%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.

SHEL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SHEL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2220-F/A	FY2120-F/A	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	6.8%+1.0pp	5.8%-0.4pp	6.2%-5.0pp	11.2%+3.4pp	7.9%+19.8pp	-11.9%-16.7pp	4.8%-1.4pp	6.2%+1.8pp	4.4%+2.3pp	2.1%+1.2pp	0.8%
Return on Equity	10.3%+1.2pp	9.2%-1.2pp	10.4%-11.8pp	22.3%+10.5pp	11.8%+25.4pp	-13.6%-22.2pp	8.6%-3.2pp	11.8%+5.0pp	6.8%+4.3pp	2.5%+1.2pp	1.3%
Return on Assets	4.9%+0.6pp	4.3%-0.6pp	4.8%-4.8pp	9.7%+4.6pp	5.1%+10.8pp	-5.7%-9.7pp	4.1%-1.9pp	6.0%+2.7pp	3.3%+2.1pp	1.2%	N/A
Current Ratio	1.300.0x	1.35-0.1x	1.400.0x	1.370.0x	1.35+0.1x	1.25+0.1x	1.16-0.1x	1.25+0.1x	1.200.0x	1.17	N/A
Debt-to-Equity	0.430.0x	0.430.0x	0.430.0x	0.44-0.1x	0.51-0.2x	0.68+0.2x	0.51+0.1x	0.38-0.1x	0.43-0.1x	0.49	N/A
Asset Turnover	0.720.0x	0.730.0x	0.78-0.1x	0.86+0.2x	0.65+0.2x	0.48-0.4x	0.85-0.1x	0.97+0.2x	0.75+0.2x	0.57	N/A

Metric	Q4'2510-K	Q2'256-K	Q1'256-K	Q4'2410-K	Q2'246-K	Q1'2410-Q	Q4'2320-F/A	Q2'2310-Q
Net Margin	N/A	5.6%+0.7pp	7.0%-3.2pp	N/A	4.9%+0.7pp	10.3%+0.2pp	N/A	4.2%-14.0pp
Return on Equity	N/A	2.0%0.0pp	N/A	N/A	1.9%+0.3pp	N/A	N/A	1.6%-7.8pp
Return on Assets	N/A	0.9%0.0pp	N/A	N/A	0.9%+0.2pp	N/A	N/A	0.8%-3.3pp
Current Ratio	1.300.0x	1.32-0.1x	N/A	1.35-0.1x	1.41-0.1x	N/A	1.400.0x	1.46+0.1x
Debt-to-Equity	0.430.0x	0.410.0x	N/A	0.430.0x	0.400.0x	N/A	0.430.0x	0.44+0.2x
Asset Turnover	N/A	0.170.0x	N/A	N/A	0.190.0x	N/A	N/A	0.180.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Shell SHEL	FY2025	$266.9B	$18.1B	6.8%	$265.9B	—
Chevron Corp CVX	FY2025	$189.0B	$12.3B	6.5%	$409.2B	37/100
ExxonMobil XOM	FY2025	$332.2B	$28.8B	8.7%	$655.7B	38/100
TotalEnergies SE TTE	FY2025	$201.2B	$13.4B	6.6%	$196.0B	23/100
BP p.l.c. BP	FY2025	$192.5B	$1.3B	0.7%	$112.8B	26/100
Petroleo Brasileiro S.A. Petrobras PBR	FY2025	$89.2B	$19.7B	22.1%	$129.7B	14/100

Where Shell Ranks

Frequently Asked Questions

What is Shell's annual revenue?

Shell (SHEL) reported $266.9B in total revenue for fiscal year 2025. This represents a -6.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Shell's revenue growing?

Shell (SHEL) revenue declined by 6.1% year-over-year, from $284.3B to $266.9B in fiscal year 2025.

Is Shell profitable?

Yes, Shell (SHEL) reported a net income of $18.1B in fiscal year 2025, with a net profit margin of 6.8%.

How much debt does Shell have?

As of fiscal year 2025, Shell (SHEL) had $30.2B in cash and equivalents against $75.6B in long-term debt.

What is Shell's net profit margin?

Shell (SHEL) had a net profit margin of 6.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Shell's return on equity (ROE)?

Shell (SHEL) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Shell's operating cash flow?

Shell (SHEL) generated $42.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Shell's total assets?

Shell (SHEL) had $370.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Shell buy back shares?

Yes, Shell (SHEL) spent $14.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Shell have outstanding?

Shell (SHEL) had 5.69B shares outstanding as of fiscal year 2025.

What is Shell's current ratio?

Shell (SHEL) had a current ratio of 1.30 as of fiscal year 2025, which is considered adequate.

What is Shell's debt-to-equity ratio?

Shell (SHEL) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Shell's return on assets (ROA)?

Shell (SHEL) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Shell's P/E ratio?

Shell (SHEL) trades at 14.7x earnings, its market capitalization divided by net income of $18.1B net income, FY2025. The market capitalization is $265.9B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Shell's price-to-sales ratio?

Shell (SHEL) trades at 1.0x sales, its market capitalization divided by revenue of $266.9B revenue, FY2025. The market capitalization is $265.9B as of Sep 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Shell's Piotroski F-Score?

Shell (SHEL) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Shell's earnings high quality?

Shell (SHEL) has an earnings quality ratio of 2.37x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.