Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 220,725 - -
Change - 16.96% 8.87% -11.3% 11.3% 4.63% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 264,140 258,555 254,585
Change - 9.41% 6.69% -11.23% 12.39% 2.92% -2.11% -1.54%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 7.42x 8.08x 8.22x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.22x 1.11x 1.03x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.99x -4.91x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.67x 0.73x 0.73x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.8x 0.85x 0.84x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 3.64x 3.98x 4.06x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.28x 6.32x 6.62x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 8.47x 9.05x 9.56x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 11.8% 11% 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% 3.93% 4.1% 4.25%
EPS 2 2.57 5.71 2.85 2.53 3 5.333 4.898 4.816
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 29.2% 33.1% 34.9%
Net sales 1 261,504 381,314 316,620 284,312 266,886 331,479 304,437 302,027
EBITDA 1 55,004 84,289 68,538 65,803 56,135 72,614 65,017 62,651
EBIT 1 32,734 62,621 37,248 43,100 33,968 50,067 40,906 38,430
Net income 1 20,101 42,309 19,360 16,093 17,838 27,772 25,498 24,008
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 39.60 39.60 39.60
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.($)
13.32x3.3x6.36x5.25% 1,709B
11.45x1.58x5.34x4.11% 343B
7.45x0.54x3.57x7.04% 254B
6.86x0.98x3.8x5.07% 179B
5.4x1.51x2.43x8.41% 141B
3.05x1.45x2.8x13.36% 103B
6.51x0.71x1.65x4.91% 80.06B
8.32x0.7x3.57x5.18% 71.34B
Average 7.80x 1.35x 3.69x 6.67% 360.14B
Weighted average by Cap. 11.11x 2.42x 5.31x 5.69%

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

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