75/100B97.270
USD
-1.60
(-1.62%)
Market Closed
Last updated: · Delayed 15 min
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Q4 FY2026 · Earnings report
EPS estimate 3.49Revenue estimate 100.68B
Q4 FY2026 · Earnings report
EPS estimate 3.49Revenue estimate 100.68B
Shell total debt 1998–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Shell's total debt was 76.08B USD on 30 September 2026, up 2.8% on a year before. At the end of fiscal year 2025 it was 104.58B USD.
Last updated 11 Nov 2026 · Next report 4 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 76.08B | +2.84% | 36.43B | -39.65B | 0.38 |
| FY2025 | 31 Dec 2025 | 104.58B | +35.56% | 30.22B | -74.36B | 0.60 |
| FY2024 | 31 Dec 2024 | 77.14B | -5.51% | 39.11B | -38.03B | 0.43 |
| FY2023 | 31 Dec 2023 | 81.64B | -2.57% | 38.77B | -42.87B | 0.44 |
| FY2022 | 31 Dec 2022 | 83.80B | -5.94% | 40.25B | -43.55B | 0.44 |
| FY2021 | 31 Dec 2021 | 89.09B | -17.52% | 36.97B | -52.12B | 0.52 |
| FY2020 | 31 Dec 2020 | 108.01B | +12.02% | 31.83B | -76.18B | 0.70 |
| FY2019 | 31 Dec 2019 | 96.42B | +25.51% | 18.06B | -78.37B | 0.52 |
| FY2018 | 31 Dec 2018 | 76.82B | -10.32% | 26.74B | -50.08B | 0.39 |
| FY2017 | 31 Dec 2017 | 85.67B | -7.37% | 20.31B | -65.35B | 0.44 |
| FY2016 | 31 Dec 2016 | 92.48B | +58.41% | 19.13B | -73.35B | 0.50 |
| FY2015 | 31 Dec 2015 | 58.38B | +28.19% | 31.75B | -26.63B | 0.36 |
| FY2014 | 31 Dec 2014 | 45.54B | +3.14% | 21.61B | -23.93B | 0.26 |
| FY2013 | 31 Dec 2013 | 44.16B | +16.95% | 9.70B | -34.46B | 0.25 |
| FY2012 | 31 Dec 2012 | 37.75B | +1.56% | 18.55B | -19.20B | 0.22 |
| FY2011 | 31 Dec 2011 | 37.18B | -16.14% | 11.29B | -25.88B | 0.22 |
| FY2010 | 31 Dec 2010 | 44.33B | +26.54% | 13.44B | -30.89B | 0.30 |
| FY2009 | 31 Dec 2009 | 35.03B | +50.56% | 9.72B | -25.31B | 0.26 |
| FY2008 | 31 Dec 2008 | 23.27B | +28.57% | 15.19B | -8.08B | 0.18 |
| FY2007 | 31 Dec 2007 | 18.10B | +14.75% | 9.66B | -8.44B | 0.15 |
| FY2006 | 31 Dec 2006 | 15.77B | +22.12% | 9.00B | -6.77B | 0.15 |
| FY2005 | 31 Dec 2005 | 12.92B | -11.49% | 11.73B | -1.19B | 0.14 |
| FY2004 | 31 Dec 2004 | 14.59B | -27.50% | 9.20B | -5.39B | 0.17 |
| FY2003 | 31 Dec 2003 | 20.13B | +2.21% | 1.95B | -18.18B | 0.26 |
| FY2002 | 31 Dec 2002 | 19.69B | +238.33% | 1.56B | -18.14B | 0.31 |
| FY2001 | 31 Dec 2001 | 5.82B | -21.64% | 6.67B | 850.00M | 0.10 |
| FY2000 | 31 Dec 2000 | 7.43B | -42.56% | 11.44B | 4.01B | 0.13 |
| FY1999 | 31 Dec 1999 | 12.93B | -6.36% | 4.05B | -8.88B | 0.23 |
| FY1998 | 31 Dec 1998 | 13.81B | — | 2.74B | -11.07B | 0.25 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 76.08B | +2.84% | 36.43B | -39.65B | 0.38 |
| Q2 FY2026 | 30 Jun 2026 | 73.08B | -3.43% | 31.37B | -41.70B | 0.40 |
| Q1 FY2026 | 31 Mar 2026 | 75.65B | -1.13% | 23.12B | -52.53B | 0.44 |
| Q4 FY2025 | 31 Dec 2025 | 104.58B | +35.56% | 30.22B | -74.36B | 0.60 |
| Q3 FY2025 | 30 Sept 2025 | 73.98B | -3.44% | 33.05B | -40.92B | 0.42 |
| Q2 FY2025 | 30 Jun 2025 | 75.68B | +0.27% | 32.68B | -42.99B | 0.42 |
| Q1 FY2025 | 31 Mar 2025 | 76.51B | -4.28% | 35.60B | -40.91B | 0.43 |
| Q4 FY2024 | 31 Dec 2024 | 77.14B | -5.51% | 39.11B | -38.03B | 0.43 |
| Q3 FY2024 | 30 Sept 2024 | 76.61B | -6.74% | 42.25B | -34.36B | 0.41 |
| Q2 FY2024 | 30 Jun 2024 | 75.47B | -10.55% | 38.15B | -37.32B | 0.41 |
| Q1 FY2024 | 31 Mar 2024 | 79.93B | -6.12% | 39.95B | -39.98B | 0.43 |
| Q4 FY2023 | 31 Dec 2023 | 81.64B | -2.57% | 38.77B | -42.87B | 0.44 |
| Q3 FY2023 | 30 Sept 2023 | 82.15B | +0.19% | 43.03B | -39.12B | 0.43 |
| Q2 FY2023 | 30 Jun 2023 | 84.37B | +0.75% | 45.09B | -39.27B | 0.44 |
| Q1 FY2023 | 31 Mar 2023 | 85.14B | -1.05% | 42.07B | -43.07B | 0.44 |
| Q4 FY2022 | 31 Dec 2022 | 83.80B | -5.94% | 40.25B | -43.55B | 0.44 |
| Q3 FY2022 | 30 Sept 2022 | 81.99B | -14.05% | 35.98B | -46.01B | 0.44 |
| Q2 FY2022 | 30 Jun 2022 | 83.74B | -16.32% | 38.97B | -44.77B | 0.44 |
| Q1 FY2022 | 31 Mar 2022 | 86.05B | -15.94% | 38.36B | -47.69B | 0.49 |
| Q4 FY2021 | 31 Dec 2021 | 89.09B | -17.52% | 36.97B | -52.12B | 0.52 |
| Q3 FY2021 | 30 Sept 2021 | 95.39B | -12.53% | 38.07B | -57.32B | 0.58 |
| Q2 FY2021 | 30 Jun 2021 | 100.08B | -4.68% | 34.10B | -65.97B | 0.60 |
| Q1 FY2021 | 31 Mar 2021 | 102.37B | +7.68% | 30.99B | -71.38B | 0.63 |
| Q4 FY2020 | 31 Dec 2020 | 108.01B | +12.02% | 31.83B | -76.18B | 0.70 |
| Q3 FY2020 | 30 Sept 2020 | 109.06B | +22.64% | 35.71B | -73.34B | 0.69 |
| Q2 FY2020 | 30 Jun 2020 | 104.99B | +13.32% | 27.94B | -77.05B | 0.67 |
| Q1 FY2020 | 31 Mar 2020 | 95.07B | +2.73% | 21.81B | -73.25B | 0.53 |
| Q4 FY2019 | 31 Dec 2019 | 96.42B | +25.51% | 18.06B | -78.37B | 0.52 |
| Q3 FY2019 | 30 Sept 2019 | 88.92B | +13.46% | 15.42B | -73.51B | 0.47 |
| Q2 FY2019 | 30 Jun 2019 | 92.65B | +15.13% | 18.47B | -74.18B | 0.48 |
| Q1 FY2019 | 31 Mar 2019 | 92.54B | +5.13% | 21.47B | -71.07B | 0.47 |
| Q4 FY2018 | 31 Dec 2018 | 76.82B | -10.32% | 26.74B | -50.08B | 0.39 |
| Q3 FY2018 | 30 Sept 2018 | 78.38B | -11.29% | 19.11B | -59.27B | 0.40 |
| Q2 FY2018 | 30 Jun 2018 | 80.47B | -10.93% | 19.47B | -61.00B | 0.41 |
| Q1 FY2018 | 31 Mar 2018 | 88.02B | -3.94% | 21.93B | -66.10B | 0.45 |
| Q4 FY2017 | 31 Dec 2017 | 85.67B | -7.37% | 20.31B | -65.35B | 0.44 |
| Q3 FY2017 | 30 Sept 2017 | 88.36B | -9.68% | 20.70B | -67.66B | 0.45 |
| Q2 FY2017 | 30 Jun 2017 | 90.35B | +0.02% | 23.99B | -66.36B | 0.47 |
| Q1 FY2017 | 31 Mar 2017 | 91.63B | +13.30% | 19.60B | -72.03B | 0.48 |
| Q4 FY2016 | 31 Dec 2016 | 92.48B | +58.41% | 19.13B | -73.35B | 0.50 |
| Q3 FY2016 | 30 Sept 2016 | 97.83B | +75.99% | 19.98B | -77.85B | 0.52 |
| Q2 FY2016 | 30 Jun 2016 | 90.33B | +70.62% | 15.22B | -75.11B | 0.47 |
| Q1 FY2016 | 31 Mar 2016 | 80.87B | +84.47% | 11.02B | -69.85B | 0.41 |
| Q4 FY2015 | 31 Dec 2015 | 58.38B | +28.19% | 31.75B | -26.63B | 0.36 |
| Q3 FY2015 | 30 Sept 2015 | 55.59B | +29.33% | 31.85B | -23.74B | 0.34 |
| Q2 FY2015 | 30 Jun 2015 | 52.94B | +19.99% | 26.98B | -25.96B | 0.30 |
| Q1 FY2015 | 31 Mar 2015 | 43.84B | -4.13% | 19.87B | -23.97B | 0.26 |
| Q4 FY2014 | 31 Dec 2014 | 45.54B | +3.14% | 21.61B | -23.93B | 0.26 |
| Q3 FY2014 | 30 Sept 2014 | 42.98B | +15.92% | 19.03B | -23.96B | 0.24 |
| Q2 FY2014 | 30 Jun 2014 | 44.12B | +33.82% | 15.42B | -28.70B | 0.24 |
| Q1 FY2014 | 31 Mar 2014 | 45.73B | +27.77% | 11.92B | -33.81B | 0.25 |
| Q4 FY2013 | 31 Dec 2013 | 44.16B | +16.95% | 9.70B | -34.46B | 0.25 |
| Q3 FY2013 | 30 Sept 2013 | 37.08B | — | 14.28B | -22.80B | 0.21 |
| Q2 FY2013 | 30 Jun 2013 | 32.97B | -0.03% | 12.54B | -20.43B | 0.19 |
| Q1 FY2013 | 31 Mar 2013 | 35.79B | +2.92% | 17.61B | -18.18B | 0.20 |
| Q4 FY2012 | 31 Dec 2012 | 37.75B | +1.56% | 18.55B | -19.20B | 0.22 |
| Q3 FY2012 | 30 Sept 2012 | 0.00 | -100.00% | 18.84B | 18.84B | 0.00 |
| Q2 FY2012 | 30 Jun 2012 | 32.98B | -31.05% | 17.28B | -15.70B | 0.19 |
| Q1 FY2012 | 31 Mar 2012 | 34.77B | -18.42% | 15.02B | -19.75B | 0.20 |
| Q4 FY2011 | 31 Dec 2011 | 37.18B | -16.14% | 11.29B | -25.88B | 0.22 |
| Q3 FY2011 | 30 Sept 2011 | 39.36B | -12.69% | 19.26B | -20.10B | 0.24 |
| Q2 FY2011 | 30 Jun 2011 | 47.83B | +18.69% | 19.47B | -28.37B | 0.29 |
| Q1 FY2011 | 31 Mar 2011 | 42.63B | +14.25% | 16.61B | -26.02B | 0.27 |
| Q4 FY2010 | 31 Dec 2010 | 44.33B | +26.54% | 13.44B | -30.89B | 0.30 |
| Q3 FY2010 | 30 Sept 2010 | 45.08B | +24.20% | 11.28B | -33.80B | 0.32 |
| Q2 FY2010 | 30 Jun 2010 | 40.30B | +33.93% | 12.01B | -28.29B | 0.29 |
| Q1 FY2010 | 31 Mar 2010 | 37.31B | +49.04% | 8.45B | -28.86B | 0.27 |
| Q4 FY2009 | 31 Dec 2009 | 35.03B | +50.56% | 9.72B | -25.31B | 0.26 |
| Q3 FY2009 | 30 Sept 2009 | 36.30B | +117.00% | 14.28B | -22.02B | 0.27 |
| Q2 FY2009 | 30 Jun 2009 | 30.09B | +83.21% | 10.60B | -19.49B | 0.23 |
| Q1 FY2009 | 31 Mar 2009 | 25.03B | +46.72% | 15.96B | -9.07B | 0.20 |
| Q4 FY2008 | 31 Dec 2008 | 23.27B | +28.57% | 15.19B | -8.08B | 0.18 |
| Q3 FY2008 | 30 Sept 2008 | 16.73B | -3.56% | 7.82B | -8.91B | 0.12 |
| Q2 FY2008 | 30 Jun 2008 | 16.42B | -6.16% | 8.99B | -7.43B | 0.12 |
| Q1 FY2008 | 31 Mar 2008 | 17.06B | -1.78% | 14.42B | -2.65B | 0.13 |
| Q4 FY2007 | 31 Dec 2007 | 18.10B | +14.75% | 9.66B | -8.44B | 0.15 |
| Q3 FY2007 | 30 Sept 2007 | 17.34B | +23.35% | 14.09B | -3.25B | 0.15 |
| Q2 FY2007 | 30 Jun 2007 | 17.50B | +20.01% | 15.12B | -2.39B | 0.16 |
| Q1 FY2007 | 31 Mar 2007 | 17.37B | +38.61% | 11.18B | -6.19B | 0.17 |
| Q4 FY2006 | 31 Dec 2006 | 15.77B | +22.12% | 9.00B | -6.77B | 0.15 |
| Q3 FY2006 | 30 Sept 2006 | 14.06B | -3.09% | 11.24B | -2.82B | 0.14 |
| Q2 FY2006 | 30 Jun 2006 | 14.58B | +8.97% | 11.77B | -2.81B | 0.15 |
| Q1 FY2006 | 31 Mar 2006 | 12.53B | -8.74% | 12.77B | 235.00M | 0.13 |
| Q4 FY2005 | 31 Dec 2005 | 12.92B | -11.49% | 11.73B | -1.19B | 0.14 |
| Q3 FY2005 | 30 Sept 2005 | 14.51B | -13.69% | 16.00B | 1.49B | 0.16 |
| Q2 FY2005 | 30 Jun 2005 | 13.38B | — | 11.52B | -1.86B | 0.15 |
| Q1 FY2005 | 31 Mar 2005 | 13.73B | — | 8.89B | -4.84B | 0.16 |
| Q4 FY2004 | 31 Dec 2004 | 14.59B | — | 9.20B | -5.39B | 0.17 |
| Q3 FY2004 | 30 Sept 2004 | 16.81B | — | 3.95B | -12.86B | 0.22 |
| Q2 FY2004 | 30 Jun 2004 | 0.00 | — | 3.24B | 3.24B | 0.00 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Shell's debt
Source: Financial Modeling Prep