Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 213,483 - -
Change - 16.96% 8.87% -11.3% 11.3% 1.19% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 256,897 251,313 247,342
Change - 9.41% 6.69% -11.23% 12.39% 0.1% -2.17% -1.58%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 7.32x 7.94x 7.95x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.18x 1.07x 0.99x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -1.03x -41.25x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.65x 0.7x 0.71x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.78x 0.83x 0.82x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 3.55x 3.87x 3.94x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.18x 6.19x 6.44x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 8.24x 8.69x 9.29x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 12.1% 11.5% 10.8%
Dividend per Share 2 0.8935 0.99 1.294 1.39 1.446 1.556 1.623 1.682
Rate of return 4.07% 3.53% 3.95% 4.48% 3.92% 4.06% 4.24% 4.39%
EPS 2 2.57 5.71 2.85 2.53 3 5.23 4.825 4.816
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 29.8% 33.6% 34.9%
Net sales 1 261,504 381,314 316,620 284,312 266,886 330,151 303,215 302,027
EBITDA 1 55,004 84,289 68,538 65,803 56,135 72,351 64,894 62,739
EBIT 1 32,734 62,621 37,248 43,100 33,968 49,578 40,581 38,430
Net income 1 20,101 42,309 19,360 16,093 17,838 27,330 25,391 24,050
Net Debt 1 52,555 44,837 43,541 38,809 45,687 43,415 37,831 33,860
Reference price 2 21.96 28.03 32.75 31.00 36.88 38.30 38.30 38.30
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,573,898 - -
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.($)
13.13x3.25x6.27x5.32% 1,684B
11.23x1.56x5.31x4.17% 338B
6.72x0.94x3.72x5.3% 173B
2.98x1.44x2.76x13.47% 101B
6.34x0.69x1.62x5.06% 77.62B
7.96x0.7x3.47x5.42% 67.79B
Average 8.06x 1.43x 3.86x 6.46% 406.98B
Weighted average by Cap. 11.63x 2.63x 5.58x 5.49%

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