Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,67,813 1,96,279 2,13,695 1,89,552 2,10,962 2,46,248 - -
Change - 16.96% 8.87% -11.3% 11.3% 16.73% - -
Enterprise Value (EV) 1 2,20,368 2,41,116 2,57,236 2,28,361 2,56,649 2,89,637 2,84,889 2,81,885
Change - 9.41% 6.69% -11.23% 12.39% 12.85% -1.64% -1.05%
P/E ratio 8.54x 4.91x 11.5x 12.3x 12.3x 8.32x 9.4x 8.86x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.37x 1.25x 1.14x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.8x 1.44x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.74x 0.82x 0.82x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.87x 0.95x 0.94x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 4x 4.38x 4.47x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 5.83x 6.97x 7.37x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 9.45x 9.93x 9.82x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 10.6% 10.1% 10.2%
Dividend per Share 2 0.8935 0.99 1.294 1.39 1.446 1.541 1.608 1.667
Rate of return 4.07% 3.53% 3.95% 4.48% 3.92% 3.5% 3.66% 3.79%
EPS 2 2.57 5.71 2.85 2.53 3 5.289 4.679 4.967
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 29.1% 34.4% 33.6%
Net sales 1 2,61,504 3,81,314 3,16,620 2,84,312 2,66,886 3,32,761 2,99,941 2,98,995
EBITDA 1 55,004 84,289 68,538 65,803 56,135 72,495 65,108 62,995
EBIT 1 32,734 62,621 37,248 43,100 33,968 49,681 40,866 38,273
Net income 1 20,101 42,309 19,360 16,093 17,838 27,819 25,924 25,054
Net Debt 1 52,555 44,837 43,541 38,809 45,687 43,389 38,641 35,637
Reference price 2 21.96 28.03 32.75 31.00 36.88 43.99 43.99 43.99
Nbr of stocks (in thousands) 76,40,301 70,03,503 65,24,109 61,15,031 57,20,615 55,97,312 - -
Announcement Date 03/02/22 02/02/23 01/02/24 30/01/25 05/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.33x0.87x4.14x3.49% 25TCr
13.65x3.41x6.61x5.03% 1,79100Cr
13.55x1.81x6.19x3.64% 39TCr
8.93x0.64x4.17x5.86% 30TCr
7.9x1.14x4.33x4.4% 21TCr
6.38x1.9x3.06x6.98% 17TCr
3.32x1.66x3.24x11.22% 13TCr
7.94x0.85x1.99x4.01% 9.79TCr
9.45x0.78x3.97x4.57% 8.22TCr
Average 8.83x 1.45x 4.19x 5.47% 37.92TCr
Weighted average by Cap. 11.48x 2.38x 5.53x 5.08%

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