Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 227,163 - -
Change - 16.96% 8.87% -11.3% 11.3% 7.68% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 270,595 266,035 262,691
Change - 9.41% 6.69% -11.23% 12.39% 5.43% -1.69% -1.26%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 7.88x 8.78x 8.46x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.26x 1.15x 1.08x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.9x 2.24x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.71x 0.77x 0.76x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.85x 0.9x 0.88x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 3.84x 4.2x 4.22x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.67x 6.76x 7.03x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 8.79x 9.51x 9.52x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 11.4% 10.5% 10.5%
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% 3.82% 3.98% 4.12%
EPS 2 2.57 5.71 2.85 2.53 3 5.175 4.644 4.82
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 30.1% 34.9% 34.9%
Net sales 1 261,504 381,314 316,620 284,312 266,886 319,850 295,556 297,448
EBITDA 1 55,004 84,289 68,538 65,803 56,135 70,468 63,363 62,185
EBIT 1 32,734 62,621 37,248 43,100 33,968 47,724 39,368 37,394
Net income 1 20,101 42,309 19,360 16,093 17,838 26,918 24,810 24,230
Net Debt 1 52,555 44,837 43,541 38,809 45,687 43,432 38,872 35,527
Reference price 2 21.96 28.03 32.75 31.00 36.88 40.78 40.78 40.78
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,570,941 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.71x3.37x6.5x5.2% 1,725B
11.61x1.64x5.46x4.04% 349B
6.97x0.97x3.84x5.26% 174B
3.29x1.47x2.83x12.98% 107B
7.1x0.78x1.81x4.68% 84.02B
8.41x0.75x3.66x5.28% 69.67B
Average 8.51x 1.50x 4.02x 6.24% 418.03B
Weighted average by Cap. 12.14x 2.72x 5.78x 5.36%

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