Shell plc Estimates Overview >> Consensus
Last Update: 2025-04-23

Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q1 2024FY 2024Q1 2025 EFY 2025 EFY 2026 EFY 2027 E
Integrated GasNumber of analysts participating22101010
Integrated GasHighest3,03212,17711,72612,732
Integrated GasConsensus3,68011,3902,4199,5569,1889,711
Integrated GasLowest1,9447,6997,7176,950
UpstreamNumber of analysts participating22101010
UpstreamHighest2,2357,5598,90910,179
UpstreamConsensus1,9338,3952,0106,7766,9227,255
UpstreamLowest1,7654,9755,6015,942
MarketingNumber of analysts participating22101010
MarketingHighest9524,2485,2925,663
MarketingConsensus7813,8858183,8574,3054,121
MarketingLowest7533,1393,364-72
Chemicals & ProductsNumber of analysts participating22101010
Chemicals & ProductsHighest7862,6923,8893,968
Chemicals & ProductsConsensus1,6152,9343001,7662,3842,610
Chemicals & ProductsLowest-114687915983
Renewables and Energy SolutionsNumber of analysts participating22101010
Renewables and Energy SolutionsHighest1256611,1601,489
Renewables and Energy SolutionsConsensus163-497-410343597
Renewables and Energy SolutionsLowest-196-500-44125
CorporateNumber of analysts participating21101010
CorporateHighest-368-1,471-1,471-1,196
CorporateConsensus-368-1,968-483-2,075-2,251-2,214
CorporateLowest-600-2,983-3,932-3,956
Non-controlling interest (CCS basis)Number of analysts participating21101010
Non-controlling interest (CCS basis)Highest-54300300300
Non-controlling interest (CCS basis)Consensus-70-424-101-296-307-311
Non-controlling interest (CCS basis)Lowest-274-500-500-500
Shell plc adjusted EarningsNumber of analysts participating22111111
Shell plc adjusted EarningsHighest5,92122,14726,52026,444
Shell plc adjusted EarningsConsensus7,73423,7164,96319,16620,07521,526
Shell plc adjusted EarningsLowest4,36414,87814,98618,397
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating19888
Integrated Gas, adjusted EBITDA (CCS basis)Highest5,31322,32222,17623,572
Integrated Gas, adjusted EBITDA (CCS basis)Consensus6,13620,9784,65519,17618,70919,533
Integrated Gas, adjusted EBITDA (CCS basis)Lowest3,94717,56716,33916,029
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating19888
Upstream, adjusted EBITDA (CCS basis)Highest7,75727,26828,81731,318
Upstream, adjusted EBITDA (CCS basis)Consensus7,88831,2647,24925,00124,53225,193
Upstream, adjusted EBITDA (CCS basis)Lowest6,80720,81721,29321,192
Marketing, adjusted EBITDA (CCS basis)Number of analysts participating18888
Marketing, adjusted EBITDA (CCS basis)Highest1,8987,7938,6089,372
Marketing, adjusted EBITDA (CCS basis)Consensus1,6867,4761,6637,3267,8087,492
Marketing, adjusted EBITDA (CCS basis)Lowest1,5376,3796,6952,473
Chemicals & Products, adjusted EBITDA (CCS basis)Number of analysts participating18888
Chemicals & Products, adjusted EBITDA (CCS basis)Highest1,8157,1088,6269,241
Chemicals & Products, adjusted EBITDA (CCS basis)Consensus2,8266,7831,2175,3235,8996,069
Chemicals & Products, adjusted EBITDA (CCS basis)Lowest6523,9884,2454,306
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Number of analysts participating18888
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Highest3321,5002,4173,125
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Consensus267-221105761,1221,518
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Lowest-179-219483800
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating18888
Corporate, adjusted EBITDA (CCS basis)Highest16-400-400-400
Corporate, adjusted EBITDA (CCS basis)Consensus-92-675-204-713-706-700
Corporate, adjusted EBITDA (CCS basis)Lowest-875-1,000-1,000-1,000
Shell plc adjusted EBITDA (CCS basis)Number of analysts participating18999
Shell plc adjusted EBITDA (CCS basis)Highest15,36859,74366,25065,662
Shell plc adjusted EBITDA (CCS basis)Consensus18,71165,80314,68956,35356,92459,058
Shell plc adjusted EBITDA (CCS basis)Lowest13,52151,48052,39153,270
Cash flow from operating activitiesNumber of analysts participating19101010
Cash flow from operating activitiesHighest12,25950,42556,11254,532
Cash flow from operating activitiesConsensus13,33054,6849,59945,41747,02148,815
Cash flow from operating activitiesLowest8,28338,37940,07645,444
of which decrease / (increase) in working capitalNumber of analysts participating19999
of which decrease / (increase) in working capitalHighest02,0002,5002,500
of which decrease / (increase) in working capitalConsensus-2,7522,062-1,991-750278278
of which decrease / (increase) in working capitalLowest-3,000-2,50000
Cash flow from operating activities excl. working capital movementsNumber of analysts participating20111111
Cash flow from operating activities excl. working capital movementsHighest13,31350,67556,11254,532
Cash flow from operating activities excl. working capital movementsConsensus16,08252,62211,60146,19446,99448,803
Cash flow from operating activities excl. working capital movementsLowest10,39240,63440,07645,444
Oil price assumption BrentNumber of analysts participating21111111
Oil price assumption BrentHighest75.775.175.080.0
Oil price assumption BrentConsensus83.280.875.268.869.271.1
Oil price assumption BrentLowest74.060.262.264.0
Oil price assumption WTINumber of analysts participating18101010
Oil price assumption WTIHighest72.371.372.077.0
Oil price assumption WTIConsensus77.075.971.364.664.766.9
Oil price assumption WTILowest70.056.157.759.9
Henry Hub price assumptionNumber of analysts participating20111111
Henry Hub price assumptionHighest4.224.314.384.25
Henry Hub price assumptionConsensus2.162.223.733.873.883.86
Henry Hub price assumptionLowest2.863.423.503.50

LAST UPDATE: 2025-04-23
ESTIMATES INCLUDED FROM AMONGST OTHERS:
ABN AMRO - ODDO BHF, BARCLAYS, BERNSTEIN SG, EXANE BNP PARIBAS, GOLDMAN SACHS, HSBC, ISI EVERCORE, KEPLER CHEUVREUX, MORGAN STANLEY, PALISSY ADVISORS, RBC CAPITAL MARKETS, REDBURN, SANTANDER, SCOTIABANK, SIMMONS & COMPANY INTERNATIONAL, TD SECURITIES, TUDOR, PICKERING, HOLT & CO., WELLS FARGO, WOLFE RESEARCH.

Disclaimer

THE ANALYSTS' CONSENSUS ESTIMATES FOR SHELL PLC PROVIDED ABOVE ARE FOR INFORMATIONAL PURPOSES ONLY AND ARE PROVIDED ONLY FOR THE CONVENIENCE OF SHELL'S INVESTORS. SHELL HAS ENGAGED VARA RESEARCH GMBH TO SURVEY ANALYSTS THAT COVER SHELL PLC AND TO PROVIDE US WITH ANALYSTS' CONSENSUS ESTIMATES FOR SHELL PLC. THE ANALYSTS' CONSENSUS ESTIMATES ARE NOT SHELL-PREPARED ESTIMATES, FORECASTS, PREDICTIONS OR PROJECTIONS. SHELL HAS HAD NO INVOLVEMENT IN THE PREPARATION OF THE ANALYSTS' CONSENSUS ESTIMATES OR IN ANY ANALYST'S ESTIMATE THAT MAY HAVE FORMED PART OF THE ANALYSTS' CONSENSUS ESTIMATES. SHELL DOES NOT ENDORSE OR APPROVE THE ANALYSTS' CONSENSUS ESTIMATES OR ANY UNDERLYING ANALYST'S ESTIMATE THAT MAY HAVE FORMED PART OF THE ANALYSTS' CONSENSUS ESTIMATES. SHELL IS NOT ADOPTING THE ANALYSTS' CONSENSUS ESTIMATES AND THE ANALYSTS' CONSENSUS ESTIMATES HAVE NOT BEEN REVIEWED OR REPORTED ON IN ACCORDANCE WITH THE REQUIREMENTS OF RULE 28­.­1(A) OF THE CITY CODE ON TAKEOVERS AND MERGERS. MOREOVER, INVESTORS ARE WARNED THAT RELIANCE ON THE ANALYSTS' CONSENSUS ESTIMATES AS PART OF THEIR INVESTMENT DECISION COULD RESULTS IN A LOSS, ESPECIALLY ISHELL PLC FAILS TO MEET THE ANALYSTS CONSENSUS ESTIMATES. FURTHERMORE, SHELL PROVIDES NO ASSURANCE WITH REGARD TO THE ACCURACY OR CORRECTNESS OF THE ANALYSTS' CONSENSUS ESTIMATES.