Shell plc Estimates Overview >> Consensus
Last Update: 2022-04-28

Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q4 2021FY 2021Q1 2022 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating2310109
Integrated GasHighest6,36819,48919,71616,922
Integrated GasConsensus4,0528,7574,46116,35715,50712,675
Integrated GasLowest3,04811,41311,3308,920
UpstreamNumber of analysts participating2310109
UpstreamHighest4,83822,33220,46514,932
UpstreamConsensus2,8327,9503,60816,07613,6939,834
UpstreamLowest1,8517,3037,5595,430
Oil Products (CCS basis)Number of analysts participating2310109
Oil Products (CCS basis)Highest2,1597,0188,7768,549
Oil Products (CCS basis)Consensus5553,9441,3895,9446,0146,445
Oil Products (CCS basis)Lowest6754,5593,1234,256
Chemicals (CCS basis)Number of analysts participating2310109
Chemicals (CCS basis)Highest551,3501,8372,527
Chemicals (CCS basis)Consensus-421,753-516411,1251,327
Chemicals (CCS basis)Lowest-177-45-559-289
CorporateNumber of analysts participating23111110
CorporateHighest-375-1,498-567377
CorporateConsensus-889-2,686-599-2,337-2,101-1,922
CorporateLowest-994-2,824-2,676-2,600
Non-controlling interest (CCS basis)Number of analysts participating22101010
Non-controlling interest (CCS basis)Highest146-450-450-425
Non-controlling interest (CCS basis)Consensus-117-429-136-621-605-555
Non-controlling interest (CCS basis)Lowest-268-1,018-876-686
Shell Adjusted EarningsNumber of analysts participating25111110
Shell Adjusted EarningsHighest10,92842,05744,15238,695
Shell Adjusted EarningsConsensus6,39119,2898,67135,94833,62427,648
Shell Adjusted EarningsLowest6,53123,58122,11520,336
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating18765
Integrated Gas, adjusted EBITDA (CCS basis)Highest9,52635,44932,51727,689
Integrated Gas, adjusted EBITDA (CCS basis)Consensus6,08216,4216,84127,23426,24720,837
Integrated Gas, adjusted EBITDA (CCS basis)Lowest3,80220,42022,43017,527
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating18765
Upstream, adjusted EBITDA (CCS basis)Highest12,47649,76848,77741,528
Upstream, adjusted EBITDA (CCS basis)Consensus8,49127,3589,77938,89232,40428,641
Upstream, adjusted EBITDA (CCS basis)Lowest4,03415,87716,21423,950
Oil Products, adjusted EBITDA (CCS basis)Number of analysts participating16654
Oil Products, adjusted EBITDA (CCS basis)Highest3,60112,04313,04014,553
Oil Products, adjusted EBITDA (CCS basis)Consensus1,7428,8212,77410,89311,17412,585
Oil Products, adjusted EBITDA (CCS basis)Lowest1,8839,3217,55911,923
Chemicals, adjusted EBITDA (CCS basis)Number of analysts participating17654
Chemicals, adjusted EBITDA (CCS basis)Highest3212,5983,4964,404
Chemicals, adjusted EBITDA (CCS basis)Consensus1682,9591982,0472,9793,244
Chemicals, adjusted EBITDA (CCS basis)Lowest141,4232,5262,786
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating15654
Corporate, adjusted EBITDA (CCS basis)Highest19410954-400
Corporate, adjusted EBITDA (CCS basis)Consensus-133-554-200-486-464-598
Corporate, adjusted EBITDA (CCS basis)Lowest-904-800-800-800
Shell Adjusted EBITDA (CCS basis)Number of analysts participating17876
Shell Adjusted EBITDA (CCS basis)Highest22,26393,37295,26885,807
Shell Adjusted EBITDA (CCS basis)Consensus16,34955,00419,65480,74475,55267,259
Shell Adjusted EBITDA (CCS basis)Lowest17,42663,79259,47356,846
Cash flow from operating activitiesNumber of analysts participating20765
Cash flow from operating activitiesHighest13,27064,83865,78958,279
Cash flow from operating activitiesConsensus8,17045,1058,78456,79760,41053,827
Cash flow from operating activitiesLowest5,78952,87954,61749,362
of which decrease / (increase) in working capitalNumber of analysts participating20765
of which decrease / (increase) in working capitalHighest-5,000-1362,0733,949
of which decrease / (increase) in working capitalConsensus-2,971-10,366-6,946-5,8291,0221,783
of which decrease / (increase) in working capitalLowest-7,475-10,05700
Cash flow from operating activities excl. working capital movementsNumber of analysts participating24111110
Cash flow from operating activities excl. working capital movementsHighest20,40680,76782,88474,652
Cash flow from operating activities excl. working capital movementsConsensus11,13955,47115,65164,74462,31155,575
Cash flow from operating activities excl. working capital movementsLowest12,78954,47952,14847,362
Oil price assumption BrentNumber of analysts participating25111110
Oil price assumption BrentHighest102.2124.6120.4103.0
Oil price assumption BrentConsensus79.870.998.6104.594.080.9
Oil price assumption BrentLowest88.689.877.067.0
Oil price assumption WTINumber of analysts participating2210109
Oil price assumption WTIHighest96.5120.4117.4100.0
Oil price assumption WTIConsensus77.368.193.9100.088.776.2
Oil price assumption WTILowest85.085.073.063.0
Henry Hub price assumptionNumber of analysts participating23111110
Henry Hub price assumptionHighest5.886.795.434.00
Henry Hub price assumptionConsensus4.753.954.694.733.883.49
Henry Hub price assumptionLowest4.483.503.003.00
*) Including working capital movement, excluding interest expenses (net)

LAST UPDATE: 2022-04-28
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, ABN AMRO - ODDO BHF, BANK OF AMERICA, BARCLAYS, BERENBERG BANK, COWEN AND COMPANY, DEUTSCHE BANK, EXANE BNP PARIBAS, GOLDMAN SACHS, HSBC, ISI EVERCORE, KEPLER CHEUVREUX, MORGAN STANLEY, PALISSY ADVISORS, RBC CAPITAL MARKETS, REDBURN, SANTANDER, SCOTIABANK, SIMMONS & COMPANY INTERNATIONAL, SOCIÉTÉ GÉNÉRALE, TD SECURITIES, WELLS FARGO.

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.