Company Valuation: Shell plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 167,813 196,279 213,695 189,552 210,962 242,260 - -
Change - 16.96% 8.87% -11.3% 11.3% 14.84% - -
Enterprise Value (EV) 1 220,368 241,116 257,236 228,361 256,649 286,163 282,263 279,650
Change - 9.41% 6.69% -11.23% 12.39% 11.5% -1.36% -0.93%
P/E 8.54x 4.91x 11.5x 12.3x 12.3x 8.35x 9.44x 9.11x
PBR 0.98x 1.03x 1.15x 1.06x 1.21x 1.34x 1.22x 1.14x
PEG - 0x -0.2x -1.1x 0.7x 0.1x -0.8x 2.5x
Capitalization / Revenue 0.64x 0.51x 0.67x 0.67x 0.79x 0.77x 0.83x 0.82x
EV / Revenue 0.84x 0.63x 0.81x 0.8x 0.96x 0.91x 0.97x 0.95x
EV / EBITDA 4.01x 2.86x 3.75x 3.47x 4.57x 4.11x 4.49x 4.54x
EV / EBIT 6.73x 3.85x 6.91x 5.3x 7.56x 6.14x 7.29x 7.58x
EV / FCF 5.46x 5.26x 7.06x 5.78x 9.85x 9.84x 10.9x 10.3x
FCF Yield 18.3% 19% 14.2% 17.3% 10.2% 10.2% 9.14% 9.67%
Dividend per Share 2 0.8935 0.99 1.294 1.39 1.446 1.561 1.628 1.688
Rate of return 4.07% 3.53% 3.95% 4.48% 3.92% 3.59% 3.74% 3.88%
EPS 2 2.57 5.71 2.85 2.53 3 5.212 4.61 4.778
Distribution rate 34.8% 17.3% 45.4% 54.9% 48.2% 29.9% 35.3% 35.3%
Net sales 1 261,504 381,314 316,620 284,312 266,886 314,982 291,589 295,174
EBITDA 1 55,004 84,289 68,538 65,803 56,135 69,707 62,828 61,658
EBIT 1 32,734 62,621 37,248 43,100 33,968 46,607 38,724 36,902
Net income 1 20,101 42,309 19,360 16,093 17,838 26,873 24,528 24,054
Net Debt 1 52,555 44,837 43,541 38,809 45,687 43,903 40,003 37,390
Reference price 2 21.96 28.03 32.75 31.00 36.88 43.53 43.53 43.53
Nbr of stocks (in thousands) 7,640,301 7,003,503 6,524,109 6,115,031 5,720,615 5,564,719 - -
Announcement Date 2/3/22 A 2/2/23 A 2/1/24 A 1/30/25 A 2/5/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.66x3.36x6.47x5.22% 1,719B
12.33x1.73x5.73x3.81% 371B
7.91x0.6x3.75x6.61% 272B
7.56x1.02x4.03x5.1% 179B
5.52x1.64x2.63x8.22% 142B
3.39x1.51x2.89x12.58% 110B
8.02x0.85x2x4.25% 92.51B
8.96x0.77x3.83x5.06% 72.72B
Average 8.42x 1.43x 3.92x 6.35% 369.65B
Weighted average by Cap. 11.53x 2.47x 5.46x 5.55%

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