Shell plc
Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas. It operates through the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions. The company e…
Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas. It operates through the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions. The company explores for and extracts natural gas to produce liquefied natural gas or convert it into gas-to-liquids (GTL) fuels and other products; explores for and extracts crude oil, natural gas, and natural gas liquids; and operates marketing and transportation of oil, gas, and liquids, supported by the infrastructure required to deliver them to market or to process them within Shell's chemical manufacturing plants and refineries. It is also involved in marketing, which includes mobility, lubricants, and sectors focused on decarbonization; operates a retail network, including electric vehicle charging, convenience retail, and the wholesale commercial fuels business for transport and industry; sells products for road transport and machinery in manufacturing, mining, power generation, agriculture, and construction; and provides low-carbon energy solutions, such as biofuels, to a broad range of commercial customers, including those in the aviation, marine, and agriculture sectors. In addition, the company offers chemicals and products, including chemicals manufacturing plants with their own marketing network, and refineries that turn crude oil and other feedstocks into a range of oil products, which are moved and marketed around the world for domestic, industrial, and transport use; and operates a pipeline business, trading, and optimization of crude oil, oil products, and petrochemicals. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1897 and is headquartered in London, United Kingdom.Looks undervalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF agrees.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price below modeled range
Showing the EPS-based Gordon proxy you selected on the company card, using 2% growth, 2.5% terminal growth and 9.2% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 2%, discount rate 9.20%, terminal growth 2.50% (sector defaults). See a worked example.
Blended growth assumption: 2.0% (sector default 4.6%, own revenue history -10.0%, analyst revenue consensus -6.3%).
Analyst consensus expects revenue growth of -6.3% a year; the growth assumption used is 2.0%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — GBP 55.04 (+48.8%)
-
EPS-based Gordon proxy
— GBP 61.22 (+65.6%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
-
DCF (trailing free cash flow)
— GBP 64.98 (+75.7%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
-
FCFF (steady state)
— GBP 66.51 (+79.9%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
-
EV/EBITDA (12x)
— GBP 115.57 (+212.5%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
-
Fade DCF (10-year growth fade)
— GBP 65.03 (+75.9%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
-
EV/Sales (Rule of 40)
— GBP 213.06 (+476.1%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear GBP 47.44 | 22.1% |
| Base GBP 61.22 | 39.6% |
| Bull GBP 77.71 | 52.4% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 84 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue -11.0% a year | 4 / 20 |
| Balance sheet | net debt 0.5x EBITDA | 20 / 20 |
| Margins | EBITDA margin 24% | 20 / 20 |
Peers in Energy
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| SHEL.L (this company) | GBP 36.98 | 32.8% | 8.6 | 1.4 | 3.0% | 84 |
| HBR.L Harbour Energy plc | GBP 2.62 | 61.8% | – | 1.4 | 7.9% | 92 |
| FANG Diamondback Energy | USD 179.58 | 36.7% | 24.4 | 1.3 | 2.4% | 100 |
| AKSO.OL Aker Solutions ASA | NOK 35.92 | 22.8% | 6.8 | 1.5 | 9.1% | 75 |
| BP.L BP p.l.c. | GBP 5.54 | 19.2% | – | – | 4.4% | 69 |
| EOG EOG Resources | USD 144.89 | 6.1% | 11.1 | 2.4 | 2.8% | 92 |
| TTE.PA TotalEnergies SE | EUR 79.16 | 5.4% | 8.9 | 1.5 | 4.3% | 84 |
| BWLPG.OL BW LPG Limited | NOK 208.40 | -11.2% | 14.0 | 1.9 | 5.9% | 90 |
| ENB.TO Enbridge Inc. | CAD 67.33 | -11.4% | 19.6 | 2.4 | 5.9% | 80 |
| Peer median | 12.6 | 1.5 | ||||
Dividends
Paid in the last 12 months: GBP 0.01 per share · yield 0.03% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.009 |
| 2025 | 0.011 |
| 2024 | 0.011 |
| 2023 | 0.010 |
| 2022 | 0.008 |
| 2021 | 0.006 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 12:41
| Revenue | GBP 239,759,233,356 |
|---|---|
| EBITDA | GBP 56,877,042,762 |
| EBIT | GBP 39,983,843,403 |
| Net income | GBP 24,422,943,846 |
| Free cash flow | GBP 26,490,938,662 |
| Capital expenditures | GBP 15,419,854,535 |
| Debt | GBP 56,406,935,271 |
| Cash | GBP 27,007,855,258 |
| Working capital | GBP 28,788,854,071 |
| Shares outstanding | 5,651,300,000 |
| Reported dividends per share | GBP 1.1199 |