Shell plc (SHEL) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: March 12, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

5.7B

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

SHEL currently has 5.69B outstanding shares. with minimal authorized share overhang for future dilution. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Mar 12, 2026	20-F filing \| 5689.9M shares outstanding	5.7B
Mar 25, 2025	20-F filing \| 6084.2M shares outstanding	6.1B
Mar 14, 2024	20-F filing \| 6486.3M shares outstanding	6.5B
Mar 09, 2023	20-F filing \| 6970.7M shares outstanding	7B
Mar 10, 2022	20-F filing \| 4101.2M shares outstanding	4.1B
Mar 11, 2021	20-F filing \| 4101.2M shares outstanding	4.1B
Mar 12, 2020	20-F filing \| 4151.8M shares outstanding	4.2B

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