Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 254,303 - -
Change - 16.96% 8.87% -11.3% 11.3% 20.54% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 293,131 289,673 288,524
Change - 9.41% 6.69% -11.23% 12.39% 14.21% -1.18% -0.4%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 8.18x 9.57x 9.93x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.37x 1.28x 1.19x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.7x -2.74x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.78x 0.86x 0.85x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.9x 0.98x 0.97x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 3.93x 4.46x 4.61x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.81x 7.12x 7.45x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 7.96x 9.77x 9.81x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 12.6% 10.2% 10.2%
Dividend per Share 2 0.8935 0.99 1.294 1.39 1.446 1.557 1.621 1.692
Rate of return 4.07% 3.53% 3.95% 4.48% 3.92% 3.41% 3.55% 3.7%
EPS 2 2.57 5.71 2.85 2.53 3 5.588 4.778 4.605
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 27.9% 33.9% 36.7%
Net sales 1 261,504 381,314 316,620 284,312 266,886 325,530 295,575 298,350
EBITDA 1 55,004 84,289 68,538 65,803 56,135 74,523 65,016 62,521
EBIT 1 32,734 62,621 37,248 43,100 33,968 50,427 40,696 38,713
Net income 1 20,101 42,309 19,360 16,093 17,838 31,725 25,968 24,924
Net Debt 1 52,555 44,837 43,541 38,809 45,687 38,828 35,369 34,220
Reference price 2 21.96 28.03 32.75 31.00 36.88 45.72 45.72 45.72
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,562,342 - -
Announcement Date 2/3/22 2/2/23 2/1/24 1/30/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.13x0.92x3.93x3.42% 253B
13.71x3.4x6.49x5.23% 1,712B
12.39x1.81x5.74x3.62% 386B
8.25x0.64x3.91x6.38% 292B
8.17x1.04x4.35x4.65% 195B
5.91x1.75x2.81x7.62% 150B
3.49x1.56x2.97x11% 118B
7.4x0.84x2.05x3.86% 96.78B
8.77x0.82x4.09x4.66% 80.4B
Average 8.47x 1.42x 4.04x 5.6% 364.94B
Weighted average by Cap. 11.28x 2.35x 5.36x 5.23%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield