Shell's Operating Income for the
three
months ended in Mar. 2026 was $10,366 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $29,572 Mil.
Operating Margin % is calculated as Operating Income divided by its Revenue. Shell's Operating Income for the
three
months ended in Mar. 2026 was $10,366 Mil. Shell's Revenue for the
three
months ended in Mar. 2026 was $69,691 Mil. Therefore, Shell's Operating Margin % for the quarter that ended in Mar. 2026 was 14.87%.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Shell's annualizedROC % for the quarter that ended in Mar. 2026 was 8.92%.
Shell's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 22.32%.
Shell (OTCPK:RYDAF) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Shell's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.
Be Aware
Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Shell Operating Income Related Terms
Shell Operating Income Historical Data
* Premium members only.
The historical data trend for Shell's Operating Income can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.
Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $29,572 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Shell (RYDAF) has a Operating Income of $29,572 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Shell and its competitors.
Is Shell's Operating Income too high?
Shell's current Operating Income is $29,572 Mil. Overall, Shell has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shell's Operating Income compare to XOM and CVX?
Shell's Operating Income of $29,572 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Oil & Gas company?
A good Operating Income depends on the Oil & Gas industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Shell and its competitors. Shell's current Operating Income is $29,572 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shell stock overvalued right now?
Based on GuruFocus' analysis, Shell (RYDAF) is currently considered Fairly Valued. The stock's GF Value™ is $35.50, compared to a current price of $37.00 — trading 4.2% above its estimated fair value. The current Operating Income is $29,572 Mil. Shell's overall GF Score™ is 70/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Shell (RYDAF), the current Operating Income is $29,572 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Shell (RYDAF) Overvalued in 2026?
Based on GuruFocus' analysis, Shell stock appears to be overvalued.
The current stock price of $37.00 is trading 4.2% above its estimated GF Value™ of $35.50.
GuruFocus considers Shell to be Fairly Valued.
Key valuation signals for RYDAF:
Operating Income: $29,572 Mil
GF Value™: $35.50 vs. price of $37.00 (4.2% above fair value)
No single metric tells the full story. See the RYDAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2025, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At year-end 2025, reserves stood at 8.1 billion barrels of oil equivalent, 44% of which consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with a capacity of 1.4 mmb/d located in the Americas, Asia, and Europe, and sells about 9 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Northwestern Europe, China, and North America.
70GF Score
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