Shell plc (SHEL) — Working Capital to Net Assets Ratio
Shell plc (SHEL) has a Working Capital to Net Assets ratio of 14.1% as of December 2025. Working capital of GBX24.77 Billion (current assets of GBX107.21 Billion minus current liabilities of GBX82.45 Billion) is measured against net assets of GBX175.38 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See SHEL net asset quality score to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Shell plc Working Capital to Net Assets (1998–2025)
This chart shows how Shell plc's Working Capital to Net Assets ratio has evolved across 28 annual periods from 1998 to 2025. As of December 2025, the ratio stands at 14.1%, reflecting working capital of GBX24.77 Billion against net assets of GBX175.38 Billion GBX. Check Shell plc tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Shell plc (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Shell plc from 1998 to 2025, covering 28 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Shell plc market capitalisation.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 14.1% | GBX24.77 Billion | GBX175.38 Billion | GBX107.21 Billion | GBX82.45 Billion | ▼ -4.1 pp |
| 2024 | 18.3% | GBX32.89 Billion | GBX180.17 Billion | GBX127.93 Billion | GBX95.03 Billion | ▼ -2.3 pp |
| 2023 | 20.5% | GBX38.65 Billion | GBX188.36 Billion | GBX134.12 Billion | GBX95.47 Billion | ▼ -2.7 pp |
| 2022 | 23.2% | GBX44.63 Billion | GBX192.60 Billion | GBX165.94 Billion | GBX121.31 Billion | ▲ +4.2 pp |
| 2021 | 18.9% | GBX33.22 Billion | GBX175.33 Billion | GBX128.77 Billion | GBX95.55 Billion | ▲ +8.4 pp |
| 2020 | 10.6% | GBX16.74 Billion | GBX158.54 Billion | GBX90.69 Billion | GBX73.95 Billion | ▲ +3.7 pp |
| 2019 | 6.9% | GBX13.06 Billion | GBX190.46 Billion | GBX92.69 Billion | GBX79.62 Billion | ▼ -2.9 pp |
| 2018 | 9.7% | GBX19.67 Billion | GBX202.53 Billion | GBX97.48 Billion | GBX77.81 Billion | ▲ +1.8 pp |
| 2017 | 7.9% | GBX15.64 Billion | GBX197.81 Billion | GBX95.40 Billion | GBX79.77 Billion | ▲ +1.1 pp |
| 2016 | 6.8% | GBX12.74 Billion | GBX188.51 Billion | GBX86.57 Billion | GBX73.83 Billion | ▼ -6.9 pp |
| 2015 | 13.7% | GBX22.41 Billion | GBX164.12 Billion | GBX93.36 Billion | GBX70.95 Billion | ▲ +5.8 pp |
| 2014 | 7.9% | GBX13.57 Billion | GBX172.79 Billion | GBX99.78 Billion | GBX86.21 Billion | ▲ +2.3 pp |
| 2013 | 5.6% | GBX10.09 Billion | GBX181.15 Billion | GBX103.34 Billion | GBX93.26 Billion | ▼ -4.5 pp |
| 2012 | 10.1% | GBX17.75 Billion | GBX176.18 Billion | GBX114.73 Billion | GBX96.98 Billion | ▲ +0.1 pp |
| 2011 | 10.0% | GBX17.12 Billion | GBX171.00 Billion | GBX119.78 Billion | GBX102.66 Billion | ▲ +1.8 pp |
| 2010 | 8.2% | GBX12.34 Billion | GBX149.78 Billion | GBX112.89 Billion | GBX100.55 Billion | ▼ -0.2 pp |
| 2009 | 8.4% | GBX11.67 Billion | GBX138.13 Billion | GBX96.46 Billion | GBX84.79 Billion | ▼ -0.1 pp |
| 2008 | 8.6% | GBX11.04 Billion | GBX128.87 Billion | GBX116.57 Billion | GBX105.53 Billion | ▼ -8.1 pp |
| 2007 | 16.7% | GBX21.01 Billion | GBX125.97 Billion | GBX115.40 Billion | GBX94.38 Billion | ▲ +3.5 pp |
| 2006 | 13.2% | GBX15.14 Billion | GBX114.94 Billion | GBX91.89 Billion | GBX76.75 Billion | ▼ 0.0 pp |
| 2005 | 13.2% | GBX12.93 Billion | GBX97.92 Billion | GBX97.89 Billion | GBX84.96 Billion | ▼ -0.1 pp |
| 2004 | 13.3% | GBX12.14 Billion | GBX91.38 Billion | GBX64.84 Billion | GBX52.70 Billion | ▲ +26.8 pp |
| 2003 | -13.6% | GBX-10.81 Billion | GBX79.70 Billion | GBX43.61 Billion | GBX54.42 Billion | ▲ +6.5 pp |
| 2002 | -20.0% | GBX-13.55 Billion | GBX67.61 Billion | GBX41.66 Billion | GBX55.20 Billion | ▼ -15.3 pp |
| 2001 | -4.7% | GBX-2.99 Billion | GBX63.11 Billion | GBX30.48 Billion | GBX33.47 Billion | ▼ -10.1 pp |
| 2000 | 5.4% | GBX3.23 Billion | GBX59.97 Billion | GBX45.93 Billion | GBX42.70 Billion | ▲ +10.6 pp |
| 1999 | -5.2% | GBX-3.07 Billion | GBX59.01 Billion | GBX30.39 Billion | GBX33.46 Billion | ▲ +9.6 pp |
| 1998 | -14.8% | GBX-8.54 Billion | GBX57.66 Billion | GBX22.60 Billion | GBX31.14 Billion | — |