Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 239,455 - -
Change - 16.96% 8.87% -11.3% 11.3% 13.51% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 282,685 279,434 276,845
Change - 9.41% 6.69% -11.23% 12.39% 10.14% -1.15% -0.93%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 8.26x 9.33x 9.01x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.3x 1.21x 1.12x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.8x 2.47x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.78x 0.83x 0.82x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.93x 0.96x 0.94x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 4.04x 4.42x 4.45x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.89x 6.98x 7.18x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 8.25x 9.97x 9.35x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 12.1% 10% 10.7%
Dividend per Share 2 0.8935 0.99 1.294 1.39 1.446 1.56 1.627 1.687
Rate of return 4.07% 3.53% 3.95% 4.48% 3.92% 3.63% 3.78% 3.92%
EPS 2 2.57 5.71 2.85 2.53 3 5.212 4.61 4.778
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 29.9% 35.3% 35.3%
Net sales 1 261,504 381,314 316,620 284,312 266,886 305,432 289,999 293,323
EBITDA 1 55,004 84,289 68,538 65,803 56,135 70,053 63,190 62,149
EBIT 1 32,734 62,621 37,248 43,100 33,968 47,990 40,022 38,541
Net income 1 20,101 42,309 19,360 16,093 17,838 29,337 24,830 24,420
Net Debt 1 52,555 44,837 43,541 38,809 45,687 43,230 39,979 37,390
Reference price 2 21.96 28.03 32.75 31.00 36.88 43.03 43.03 43.03
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,564,649 - -
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.($)
13.57x3.36x6.42x5.28% 1,695B
12.51x1.75x5.71x3.81% 371B
8.16x0.65x3.97x6.41% 292B
7.82x1.01x4.19x4.86% 187B
5.72x1.69x2.7x8.08% 144B
3.36x1.52x2.88x12.49% 111B
7.08x0.81x1.97x4.04% 92.56B
9.11x0.78x3.88x4.98% 73.65B
Average 8.42x 1.44x 3.97x 6.24% 370.8B
Weighted average by Cap. 11.46x 2.45x 5.43x 5.54%

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