Financials Shell plc

Equities

SHEL

GB00BP6MXD84

Integrated Oil & Gas

Market Closed - London S.E. 16:35:15 12/07/2024 BST 5-day change 1st Jan Change
2,812 GBX -0.09% Intraday chart for Shell plc -1.73% +9.37%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 231,675 136,639 167,669 197,029 213,551 232,125 - -
Enterprise Value (EV) 1 310,045 212,025 220,224 241,866 257,092 270,265 265,554 262,210
P/E ratio 15.2 x -6.38 x 8.54 x 4.93 x 11.5 x 9.07 x 8.5 x 8.03 x
Yield 6.34% 3.68% 4.07% 3.52% 3.95% 3.8% 4.04% 4.25%
Capitalization / Revenue 0.67 x 0.76 x 0.64 x 0.52 x 0.67 x 0.73 x 0.78 x 0.77 x
EV / Revenue 0.9 x 1.17 x 0.84 x 0.63 x 0.81 x 0.85 x 0.89 x 0.87 x
EV / EBITDA 5.15 x 7.88 x 4 x 2.87 x 3.75 x 4.08 x 4.15 x 4.2 x
EV / FCF 16.1 x 10.2 x 5.46 x 5.28 x 7.05 x 9.24 x 9.61 x 10.1 x
FCF Yield 6.2% 9.82% 18.3% 18.9% 14.2% 10.8% 10.4% 9.88%
Price to Book 1.29 x 0.89 x 0.98 x 1.03 x 1.14 x 1.22 x 1.12 x 1.04 x
Nbr of stocks (in thousands) 7,842,982 7,772,923 7,640,301 7,003,503 6,524,109 6,353,990 - -
Reference price 2 29.64 17.75 21.94 28.13 32.73 36.53 36.53 36.53
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 344,877 180,543 261,504 381,314 316,620 316,945 299,027 301,333
EBITDA 1 60,148 26,915 55,004 84,289 68,538 66,180 63,926 62,488
EBIT 1 31,447 10,758 32,734 62,621 37,248 41,479 39,774 38,962
Operating Margin 9.12% 5.96% 12.52% 16.42% 11.76% 13.09% 13.3% 12.93%
Earnings before Tax (EBT) 1 25,486 -26,966 29,829 64,814 32,628 39,312 38,395 38,607
Net income 1 15,843 -21,680 20,101 42,309 19,360 25,837 26,218 26,186
Net margin 4.59% -12.01% 7.69% 11.1% 6.11% 8.15% 8.77% 8.69%
EPS 2 1.950 -2.780 2.570 5.710 2.850 4.029 4.299 4.550
Free Cash Flow 1 19,208 20,828 40,345 45,814 36,460 29,264 27,642 25,916
FCF margin 5.57% 11.54% 15.43% 12.01% 11.52% 9.23% 9.24% 8.6%
FCF Conversion (EBITDA) 31.93% 77.38% 73.35% 54.35% 53.2% 44.22% 43.24% 41.47%
FCF Conversion (Net income) 121.24% - 200.71% 108.28% 188.33% 113.26% 105.44% 98.97%
Dividend per Share 2 1.880 0.6530 0.8935 0.9900 1.294 1.388 1.475 1.554
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 85,280 84,204 100,059 95,749 101,303 86,959 74,578 76,350 78,732 72,478 90,274 95,058 85,895 83,052 70,754
EBITDA 1 16,349 19,028 23,150 21,512 20,600 21,432 14,435 16,336 16,335 18,711 16,114 16,626 16,012 16,097 16,215
EBIT 1 11,199 14,445 18,108 14,879 14,591 15,500 6,563 10,425 5,114 13,057 13,065 - 14,153 - -
Operating Margin 13.13% 17.15% 18.1% 15.54% 14.4% 17.82% 8.8% 13.65% 6.5% 18.02% 14.47% - 16.48% - -
Earnings before Tax (EBT) 1 16,269 10,776 26,160 11,435 16,443 14,354 5,348 11,291 1,635 11,044 7,883 7,959 6,205 8,665 9,335
Net income 1 11,461 7,116 18,040 6,743 10,409 8,709 3,134 7,044 474 7,358 5,351 6,136 5,909 6,496 6,470
Net margin 13.44% 8.45% 18.03% 7.04% 10.28% 10.02% 4.2% 9.23% 0.6% 10.15% 5.93% 6.45% 6.88% 7.82% 9.14%
EPS 2 1.480 0.9300 2.400 0.9200 1.460 1.250 0.4600 1.050 0.0700 1.130 0.7990 1.009 1.071 1.157 1.089
Dividend per Share 2 0.2400 0.2500 0.2500 0.2500 0.2500 0.2875 0.3310 0.3310 0.3440 0.3440 0.3520 0.3600 0.3600 0.3681 0.3852
Announcement Date 03/02/22 05/05/22 28/07/22 27/10/22 02/02/23 04/05/23 27/07/23 02/11/23 01/02/24 02/05/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 78,370 75,386 52,555 44,837 43,541 38,140 33,429 30,085
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.303 x 2.801 x 0.9555 x 0.5319 x 0.6353 x 0.5763 x 0.5229 x 0.4815 x
Free Cash Flow 1 19,208 20,828 40,345 45,814 36,460 29,264 27,643 25,916
ROE (net income / shareholders' equity) 8.55% 2.84% 11.8% 23.3% 15% 13.8% 13.2% 12.8%
ROA (Net income/ Total Assets) 4.1% 1.24% 4.92% 9.41% 6.7% 5.95% 5.95% 6.03%
Assets 1 386,658 -1,752,769 408,557 449,621 288,955 434,388 440,409 434,622
Book Value Per Share 2 23.00 19.90 22.40 27.20 28.60 29.90 32.50 35.20
Cash Flow per Share 2 5.200 4.370 5.780 9.230 7.970 8.350 8.550 9.340
Capex 1 22,971 16,585 19,000 22,600 22,993 22,924 23,740 24,109
Capex / Sales 6.66% 9.19% 7.27% 5.93% 7.26% 7.23% 7.94% 8%
Announcement Date 30/01/20 04/02/21 03/02/22 02/02/23 01/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
36.53 USD
Average target price
41.79 USD
Spread / Average Target
+14.39%
Consensus
1st Jan change Capi.
+9.37% 232B
-14.85% 1,816B
+13.29% 447B
+55.43% 252B
+2.44% 94.04B
-9.87% 75.02B
-.--% 53.28B
-6.87% 49.67B
+22.92% 49.11B
-.--% 37.97B
Integrated Oil & Gas