Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 258,123 - -
Change - 16.96% 8.87% -11.3% 11.3% 22.36% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 296,955 293,947 292,917
Change - 9.41% 6.69% -11.23% 12.39% 15.7% -1.01% -0.35%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 8.24x 9.77x 10.2x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.38x 1.29x 1.2x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.6x -2.4x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.78x 0.87x 0.85x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.9x 1x 0.97x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 3.99x 4.54x 4.69x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.93x 7.35x 7.64x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 8.39x 11.3x 9.2x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 11.9% 8.88% 10.9%
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% 3.35% 3.48% 3.64%
EPS 2 2.57 5.71 2.85 2.53 3 5.651 4.764 4.562
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 27.6% 34% 37.1%
Net sales 1 261,504 381,314 316,620 284,312 266,886 329,443 295,376 302,209
EBITDA 1 55,004 84,289 68,538 65,803 56,135 74,485 64,753 62,422
EBIT 1 32,734 62,621 37,248 43,100 33,968 50,106 40,018 38,351
Net income 1 20,101 42,309 19,360 16,093 17,838 32,109 25,838 25,285
Net Debt 1 52,555 44,837 43,541 38,809 45,687 38,831 35,824 34,794
Reference price 2 21.96 28.03 32.75 31.00 36.88 46.54 46.54 46.54
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,545,746 - -
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.($)
13.99x3.57x6.72x5.25% 1,713B
13.38x1.89x6.04x3.47% 404B
8.26x0.62x3.85x6.34% 289B
8.12x0.89x3.94x3.39% 255B
8.28x1.06x4.41x4.59% 198B
6.06x1.81x2.9x7.44% 154B
3.62x1.52x2.85x8.37% 112B
7.9x0.85x2.09x3.76% 99.51B
8.88x0.82x4.09x4.66% 80.98B
Average 8.72x 1.45x 4.10x 5.25% 367.06B
Weighted average by Cap. 11.59x 2.45x 5.52x 5.09%

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