Shell (SHEL) Balance Sheet: Assets & Liabilities

Shell (SHEL) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Shell reported total assets of $370.35B and total liabilities of $195.03B. Shareholders' equity was $175.32B, down 1.7% from $178.31B a year earlier. Total debt stood at $75.64B against $30.22B in cash and short-term investments, a net debt position of $45.43B. That puts debt-to-equity at 0.43, compared with 0.27 a year earlier.

Shell Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Balance sheet showing assets, liabilities, and shareholders' equity for Shell plc (SHEL) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	30.22	37.84	38.31	40.25	36.97	31.83	18.06	26.74	20.31
Cash & Short-Term Investments	30.22	37.84	38.31	40.25	36.97	31.83	18.06	26.74	20.31
Accounts Receivable	44.60	31.04	36.27	66.51	34.95	21.97	30.43	27.54	30.72
Inventory	22.22	23.43	26.02	31.89	25.26	19.46	24.07	21.12	25.22
Other Current Assets	9.11	9.67	15.10	24.44	31.59	18.70	20.13	22.08	19.15
Total Current Assets	107.17	127.93	134.12	165.94	128.77	91.95	92.69	97.48	95.40
Non-Current Assets
Property, Plant & Equipment (Net)	185.08	185.22	194.84	198.64	194.93	209.70	238.35	223.18	226.38
Long-Term Investments	29.33	23.45	24.46	27.23	27.21	25.67	25.80	28.40	35.15
Goodwill	15.66	16.03	16.66	16.04	14.92	14.04	14.21	13.72	13.66
Intangible Assets	11.01	9.48	10.25	9.66	9.77	8.67	9.28	9.87	10.52
Other Non-Current Assets	23.13	33.11	23.66	28.37	28.78	29.23	24.02	26.55	25.98
Total Non-Current Assets	263.18	259.68	272.16	277.09	275.61	287.31	311.65	301.71	311.69
Total Assets	370.35	387.61	406.27	443.02	404.38	379.27	404.34	399.19	407.10
Current Liabilities
Accounts Payable	57.77	29.77	34.59	79.36	34.14	22.66	29.50	30.35	33.20
Short-Term Debt	9.13	6.92	5.29	3.59	8.22	16.90	15.06	10.13	11.80
Current Portion of Long-Term Debt	9.13	11.63	9.93	9.00	8.22	-	-	-	-
Accrued Liabilities	-	14.95	16.56	18.55	14.96	-	-	-	-
Other Current Liabilities	14.70	16.51	16.99	31.56	49.94	28.14	28.37	29.83	27.53
Total Current Liabilities	81.60	95.03	95.47	119.92	95.55	73.71	79.62	77.81	79.77
Non-Current Liabilities
Long-Term Debt	66.52	41.46	48.54	74.79	80.87	91.12	81.36	66.69	73.87
Deferred Tax Liabilities	11.98	13.51	15.35	16.19	0.00	10.46	0.00	0.00	0.00
Other Non-Current Liabilities	46.92	53.16	51.14	55.72	52.64	45.45	52.89	52.16	55.65
Total Non-Current Liabilities	113.44	112.41	122.44	130.51	133.51	147.02	134.25	118.85	129.52
Total Liabilities	195.03	207.44	217.91	250.43	229.05	220.73	213.87	196.66	209.29
Stockholders' Equity
Common Stock	0.48	0.51	0.54	0.58	0.64	0.65	0.66	0.69	0.70
Retained Earnings	153.53	158.83	165.92	169.48	153.03	142.62	172.43	182.61	177.65
Accumulated Other Comprehensive Income	21.23	19.77	21.15	21.13	18.15	11.89	13.23	15.20	15.86
Treasury Stock	0.85	0.80	1.00	0.73	0.61	-	-	-	-
Additional Paid-in Capital	-0.69	0.42	0.39	0.15	0.15	0.15	0.15	0.15	0.15
Minority Interest	0.93	1.86	1.76	2.13	3.36	3.23	3.99	3.89	3.46
Shares Outstanding	5.69	6.08	6.49	7.00	7.68	-	-	-	-
Total Stockholders' Equity	175.32	178.31	186.61	192.60	171.97	155.31	186.48	198.65	194.36
Total Liabilities & Equity	370.35	387.61	406.27	443.02	404.38	379.27	404.34	399.19	407.10

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Shell Balance Sheet

How much debt does Shell have?

Shell had total debt of $75.64B as of Dec 31, 2025, against $30.22B in cash and short-term investments. Its debt-to-equity ratio was 0.43. Total debt was $48.38B a year earlier.

What are Shell's total assets?

Shell reported total assets of $370.35B as of Dec 31, 2025, down 4.5% from $387.61B a year earlier. Total liabilities were $195.03B.

What is Shell's shareholders' equity?

Shell's shareholders' equity was $175.32B as of Dec 31, 2025, or about $30.81 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition