Financials Shell plc

Equities

SHEL

GB00BP6MXD84

Integrated Oil & Gas

Market Closed - London S.E. 11:35:28 2024-03-04 am EST 5-day change 1st Jan Change
2,460 GBX -1.36% Intraday chart for Shell plc -0.40% -4.32%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 242,269 231,675 136,639 167,669 197,029 201,647 201,647 -
Enterprise Value (EV) 1 292,352 310,045 212,025 220,224 241,866 257,092 239,080 234,901
P/E ratio 10.5 x 15.2 x -6.38 x 8.54 x 4.93 x 11.5 x 7.83 x 7.53 x
Yield 6.39% 6.34% 3.68% 4.07% 3.52% 3.95% 4.38% 4.63%
Capitalization / Revenue 0.62 x 0.67 x 0.76 x 0.64 x 0.52 x 0.67 x 0.63 x 0.66 x
EV / Revenue 0.75 x 0.9 x 1.17 x 0.84 x 0.63 x 0.81 x 0.74 x 0.77 x
EV / EBITDA 4.96 x 5.15 x 7.88 x 4 x 2.87 x 3.75 x 3.77 x 3.78 x
EV / FCF 9.72 x 16.1 x 10.2 x 5.46 x 5.28 x 7.05 x 9.1 x 9.26 x
FCF Yield 10.3% 6.2% 9.82% 18.3% 18.9% 14.2% 11% 10.8%
Price to Book - 1.29 x 0.89 x 0.98 x 1.03 x 1.14 x 1.04 x 0.96 x
Nbr of stocks (in thousands) 8,187,371 7,842,982 7,772,923 7,640,301 7,003,503 6,454,434 6,454,434 -
Reference price 2 29.42 29.64 17.75 21.94 28.13 31.24 31.24 31.24
Announcement Date 1/31/19 1/30/20 2/4/21 2/3/22 2/2/23 2/1/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 388,379 344,877 180,543 261,504 381,314 316,620 321,485 305,211
EBITDA 1 58,893 60,148 26,915 55,004 84,289 68,538 63,346 62,103
EBIT 1 36,758 31,447 10,758 32,734 62,621 37,248 40,828 38,908
Operating Margin 9.46% 9.12% 5.96% 12.52% 16.42% 11.76% 12.7% 12.75%
Earnings before Tax (EBT) 1 35,621 25,486 -26,966 29,829 64,814 32,628 37,192 36,818
Net income 1 23,352 15,843 -21,680 20,101 42,309 19,360 25,201 25,260
Net margin 6.01% 4.59% -12.01% 7.69% 11.1% 6.11% 7.84% 8.28%
EPS 2 2.800 1.950 -2.780 2.570 5.710 2.850 3.988 4.147
Free Cash Flow 1 30,074 19,208 20,828 40,345 45,814 36,460 26,276 25,371
FCF margin 7.74% 5.57% 11.54% 15.43% 12.01% 11.52% 8.17% 8.31%
FCF Conversion (EBITDA) 51.07% 31.93% 77.38% 73.35% 54.35% 53.2% 41.48% 40.85%
FCF Conversion (Net income) 128.79% 121.24% - 200.71% 108.28% 188.33% 104.27% 100.44%
Dividend per Share 2 1.880 1.880 0.6530 0.8935 0.9900 1.294 1.367 1.447
Announcement Date 1/31/19 1/30/20 2/4/21 2/3/22 2/2/23 2/1/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 60,515 60,044 85,280 84,204 100,059 95,749 101,303 86,959 74,578 76,350 78,732 85,173 92,659 91,153 81,224
EBITDA 1 13,507 13,460 16,349 19,028 23,150 21,512 20,600 21,432 14,435 16,336 16,335 15,709 14,967 14,525 14,978
EBIT 1 7,952 7,428 11,199 14,445 18,108 14,879 14,591 15,500 6,563 10,425 5,114 - - - -
Operating Margin 13.14% 12.37% 13.13% 17.15% 18.1% 15.54% 14.4% 17.82% 8.8% 13.65% 6.5% - - - -
Earnings before Tax (EBT) 1 4,130 1,193 16,269 10,776 26,160 11,435 16,443 14,354 5,348 11,291 1,635 7,149 8,356 7,411 5,542
Net income 1 3,428 -447 11,461 7,116 18,040 6,743 10,409 8,709 3,134 7,044 474 5,722 5,512 5,111 4,864
Net margin 5.66% -0.74% 13.44% 8.45% 18.03% 7.04% 10.28% 10.02% 4.2% 9.23% 0.6% 6.72% 5.95% 5.61% 5.99%
EPS 2 - -0.0600 1.480 0.9300 2.400 0.9200 1.460 1.250 0.4600 1.050 0.0700 1.028 0.8427 0.8333 0.9804
Dividend per Share 2 0.2400 0.2400 0.2400 0.2500 0.2500 0.2500 0.2500 0.2875 0.3310 0.3310 0.3440 0.3400 0.3600 0.3600 0.3600
Announcement Date 7/29/21 10/28/21 2/3/22 5/5/22 7/28/22 10/27/22 2/2/23 5/4/23 7/27/23 11/2/23 2/1/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 50,083 78,370 75,386 52,555 44,837 43,541 37,433 33,254
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.8504 x 1.303 x 2.801 x 0.9555 x 0.5319 x 0.6353 x 0.5909 x 0.5355 x
Free Cash Flow 1 30,074 19,208 20,828 40,345 45,814 36,460 26,276 25,371
ROE (net income / shareholders' equity) 10.9% 8.55% 2.84% 11.8% 23.3% 15% 13.1% 12.5%
ROA (Net income/ Total Assets) 5.31% 4.1% 1.24% 4.92% 9.41% 6.7% 5.92% 5.26%
Assets 1 439,836 386,658 -1,752,769 408,557 449,621 288,955 425,757 480,692
Book Value Per Share 2 - 23.00 19.90 22.40 27.20 28.60 30.00 32.50
Cash Flow per Share 2 6.360 5.200 4.370 5.780 9.230 7.970 8.270 8.280
Capex 1 23,011 22,971 16,585 19,000 22,600 22,993 23,379 23,735
Capex / Sales 5.92% 6.66% 9.19% 7.27% 5.93% 7.26% 7.27% 7.78%
Announcement Date 1/31/19 1/30/20 2/4/21 2/3/22 2/2/23 2/1/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
31.24 USD
Average target price
38.12 USD
Spread / Average Target
+22.02%
Consensus
1st Jan change Capi.
-4.32% 203B
-5.45% 2,035B
+20.54% 214B
-3.59% 156B
+7.63% 107B
-18.39% 73.74B
-.--% 51.07B
-6.25% 49.59B
+9.54% 45.03B
-.--% 36.39B
Integrated Oil & Gas
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