Royal Dutch Shell plc Estimates Overview >> Consensus
Last Update: 2021-07-22

Royal Dutch Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q2 2020FY 2020Q2 2021 EFY 2021 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating18101087
Integrated GasHighest2,3149,00411,18310,34710,380
Integrated GasConsensus3624,3831,8078,1819,6489,0318,564
Integrated GasLowest1,4406,8237,9447,3656,593
UpstreamNumber of analysts participating18101087
UpstreamHighest2,8277,58411,3229,2577,380
UpstreamConsensus-1,512-2,8521,9606,4806,2284,6344,196
UpstreamLowest1,3565,1974,1293,3062,820
Oil Products (CCS basis)Number of analysts participating20101087
Oil Products (CCS basis)Highest2,1705,6087,1576,6677,124
Oil Products (CCS basis)Consensus2,4115,9951,2634,6875,7976,0546,338
Oil Products (CCS basis)Lowest9413,8794,5654,2424,769
Chemicals (CCS basis)Number of analysts participating20101087
Chemicals (CCS basis)Highest9192,8962,9703,3443,123
Chemicals (CCS basis)Consensus2069626632,3511,8462,2912,273
Chemicals (CCS basis)Lowest4221,8241,3411,4621,369
CorporateNumber of analysts participating20101098
CorporateHighest-300-1,773-1,039-996-560
CorporateConsensus-796-3,412-418-2,316-2,098-1,888-1,867
CorporateLowest-619-2,609-2,800-2,783-2,764
Less: Non-controlling interest (CCS basis)Number of analysts participating20101098
Less: Non-controlling interest (CCS basis)Highest-34-223-189-150-139
Less: Non-controlling interest (CCS basis)Consensus-34-230-96-392-427-434-446
Less: Non-controlling interest (CCS basis)Lowest-150-500-519-557-547
Royal Dutch Shell Adjusted EarningsNumber of analysts participating21111198
Royal Dutch Shell Adjusted EarningsHighest6,25121,52626,34424,39522,399
Royal Dutch Shell Adjusted EarningsConsensus6384,8465,07018,97221,19819,74519,018
Royal Dutch Shell Adjusted EarningsLowest4,35117,78317,49716,52316,146
Cash flow from operating activitiesNumber of analysts participating188876
Cash flow from operating activitiesHighest12,99148,22551,21248,95747,297
Cash flow from operating activitiesConsensus2,56334,10510,73744,08347,06646,69545,328
Cash flow from operating activitiesLowest7,20040,92344,74845,02443,107
of which decrease / (increase) in working capitalNumber of analysts participating156432
of which decrease / (increase) in working capitalHighest1,000-4,2044341,856627
of which decrease / (increase) in working capitalConsensus-3,9804,610-1,499-5,334-9241,240332
of which decrease / (increase) in working capitalLowest-3,923-6,590-3,95110936
Cash flow from operating activities excl. working capital movementsNumber of analysts participating177543
Cash flow from operating activities excl. working capital movementsHighest14,45454,11550,77847,40847,517
Cash flow from operating activities excl. working capital movementsConsensus6,54329,49512,12849,02648,03046,51246,536
Cash flow from operating activities excl. working capital movementsLowest7,90046,76746,33545,09945,421
Oil price assumption BrentNumber of analysts participating21111198
Oil price assumption BrentHighest69.471.375.065.065.0
Oil price assumption BrentConsensus29.641.868.567.967.261.360.0
Oil price assumption BrentLowest63.064.060.057.055.0
Oil price assumption WTINumber of analysts participating20111197
Oil price assumption WTIHighest67.868.872.062.057.0
Oil price assumption WTIConsensus27.939.265.564.763.857.355.3
Oil price assumption WTILowest57.261.055.053.050.5
Henry Hub price assumptionNumber of analysts participating21111198
Henry Hub price assumptionHighest3.003.303.252.962.96
Henry Hub price assumptionConsensus1.662.002.903.042.872.722.69
Henry Hub price assumptionLowest2.402.802.502.502.50
*) Including working capital movement, excluding interest expenses (net)

LAST UPDATE: 2021-07-22
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, BANK OF AMERICA, BARCLAYS, BERENBERG BANK, COWEN AND COMPANY, EXANE BNP PARIBAS, GOLDMAN SACHS, ING, ISI EVERCORE, KEPLER CHEUVREUX, MORGAN STANLEY, RBC CAPITAL MARKETS, REDBURN, SANTANDER, SCOTIABANK, SOCIÉTÉ GÉNÉRALE, WELLS FARGO.

Disclaimer

THE ANALYSTS' CONSENSUS ESTIMATES FOR ROYAL DUTCH 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 ROYAL DUTCH SHELL PLC AND TO PROVIDE US WITH ANALYSTS' CONSENSUS ESTIMATES FOR ROYAL DUTCH 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 IF ROYAL DUTCH SHELL 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.