European Investor
08 Feb 2026, 20:32
Shell plc reported strong cash generation and continued shareholder returns in 2025, despite a softer macroeconomic environment in the fourth quarter.
Chief Executive Officer Wael Sawan said Shell generated $26 billion in free cash flow during the year, delivered $5 billion in cumulative cost savings since 2022, and continued to streamline its portfolio. In the fourth quarter, adjusted earnings reached $3.3 billion, while cash flow from operations totalled $9.4 billion, supported by resilient performance in Upstream and Integrated Gas.
For the full year, cash flow from operations amounted to $42.9 billion, with around 52% returned to shareholders. Shell ended 2025 with net debt of approximately $45.7 billion and gearing of 20.7%. The company also confirmed a 4% increase in its quarterly dividend to $0.372 per share and announced a $3.5 billion share buyback, marking the 17th consecutive quarter of buybacks of at least $3 billion.
Chief Executive Officer Wael Sawan said Shell generated $26 billion in free cash flow during the year, delivered $5 billion in cumulative cost savings since 2022, and continued to streamline its portfolio. In the fourth quarter, adjusted earnings reached $3.3 billion, while cash flow from operations totalled $9.4 billion, supported by resilient performance in Upstream and Integrated Gas.
For the full year, cash flow from operations amounted to $42.9 billion, with around 52% returned to shareholders. Shell ended 2025 with net debt of approximately $45.7 billion and gearing of 20.7%. The company also confirmed a 4% increase in its quarterly dividend to $0.372 per share and announced a $3.5 billion share buyback, marking the 17th consecutive quarter of buybacks of at least $3 billion.