Shell plc Estimates Overview >> Consensus
Last Update: 2022-07-21

Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q2 2021FY 2021Q2 2022 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating221099
Integrated GasHighest5,02218,56920,48016,222
Integrated GasConsensus1,6059,0483,88516,13314,71511,905
Integrated GasLowest2,96013,8489,4198,377
UpstreamNumber of analysts participating221099
UpstreamHighest5,12121,96020,76416,496
UpstreamConsensus2,5118,0164,38816,23312,6838,817
UpstreamLowest3,54013,6587,6995,329
MarketingNumber of analysts participating221099
MarketingHighest1,3004,0005,7506,038
MarketingConsensus9553,4679973,6804,3554,587
MarketingLowest8153,3543,4933,613
Chemicals & ProductsNumber of analysts participating221099
Chemicals & ProductsHighest2,5207,9135,1314,477
Chemicals & ProductsConsensus9892,1151,8476,0443,5103,063
Chemicals & ProductsLowest1,4834,8371,2501,273
Renewables and Energy SolutionsNumber of analysts participating221099
Renewables and Energy SolutionsHighest7872,1971,7892,125
Renewables and Energy SolutionsConsensus-13-2436011,4459811,016
Renewables and Energy SolutionsLowest28367232971
CorporateNumber of analysts participating221099
CorporateHighest-384-1,537-650308
CorporateConsensus-399-2,686-594-2,325-2,210-2,006
CorporateLowest-885-2,488-3,000-3,000
Non-controlling interest (CCS basis)Number of analysts participating211099
Non-controlling interest (CCS basis)Highest-100-447-379-350
Non-controlling interest (CCS basis)Consensus-115-429-159-566-557-504
Non-controlling interest (CCS basis)Lowest-377-943-876-685
Shell plc adjusted EarningsNumber of analysts participating24111010
Shell plc adjusted EarningsHighest12,26649,08943,09035,572
Shell plc adjusted EarningsConsensus5,53419,28910,99040,73833,99327,658
Shell plc adjusted EarningsLowest9,24035,65021,82118,759
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating19866
Integrated Gas, adjusted EBITDA (CCS basis)Highest7,74639,98924,86222,704
Integrated Gas, adjusted EBITDA (CCS basis)Consensus3,31816,7546,53827,62922,33719,682
Integrated Gas, adjusted EBITDA (CCS basis)Lowest5,71523,18017,11015,807
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating19866
Upstream, adjusted EBITDA (CCS basis)Highest13,26048,97339,29630,016
Upstream, adjusted EBITDA (CCS basis)Consensus6,69627,17010,87039,19633,34827,070
Upstream, adjusted EBITDA (CCS basis)Lowest9,26525,77327,92723,757
Marketing, adjusted EBITDA (CCS basis)Number of analysts participating19866
Marketing, adjusted EBITDA (CCS basis)Highest2,0106,4829,65310,262
Marketing, adjusted EBITDA (CCS basis)Consensus1,7106,0211,6596,1507,5657,948
Marketing, adjusted EBITDA (CCS basis)Lowest1,3235,2926,5397,055
Chemicals & Products, adjusted EBITDA (CCS basis)Number of analysts participating19866
Chemicals & Products, adjusted EBITDA (CCS basis)Highest3,82412,4689,1228,359
Chemicals & Products, adjusted EBITDA (CCS basis)Consensus1,9095,6363,00210,0217,1836,405
Chemicals & Products, adjusted EBITDA (CCS basis)Lowest2,6248,8993,5803,580
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Number of analysts participating19866
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Highest1,0022,8202,6062,924
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Consensus89-217861,9931,5741,684
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Lowest4161,191935486
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating17766
Corporate, adjusted EBITDA (CCS basis)Highest57-3391,2001,200
Corporate, adjusted EBITDA (CCS basis)Consensus-101-553-154-598-274-291
Corporate, adjusted EBITDA (CCS basis)Lowest-600-1,177-600-800
Shell plc adjusted EBITDA (CCS basis)Number of analysts participating20977
Shell plc adjusted EBITDA (CCS basis)Highest24,26995,39781,56269,186
Shell plc adjusted EBITDA (CCS basis)Consensus13,62155,00722,78484,58271,68961,620
Shell plc adjusted EBITDA (CCS basis)Lowest20,51579,25562,93156,355
Cash flow from operating activitiesNumber of analysts participating19955
Cash flow from operating activitiesHighest19,28674,38564,08356,412
Cash flow from operating activitiesConsensus12,61745,10613,60865,11157,71751,834
Cash flow from operating activitiesLowest8,08154,99052,15148,978
of which decrease / (increase) in working capitalNumber of analysts participating19955
of which decrease / (increase) in working capitalHighest-3,000-2,4243,0104,000
of which decrease / (increase) in working capitalConsensus-1,559-10,367-5,853-11,7015581,473
of which decrease / (increase) in working capitalLowest-8,000-19,425-5,000-1,000
Cash flow from operating activities excl. working capital movementsNumber of analysts participating221199
Cash flow from operating activities excl. working capital movementsHighest23,28680,30471,69963,951
Cash flow from operating activities excl. working capital movementsConsensus14,17655,47119,21476,18162,52254,982
Cash flow from operating activities excl. working capital movementsLowest15,08167,44351,40548,688
Oil price assumption BrentNumber of analysts participating2311109
Oil price assumption BrentHighest114.1120.2115.893.6
Oil price assumption BrentConsensus69.070.9112.3107.594.480.4
Oil price assumption BrentLowest102.099.980.070.0
Oil price assumption WTINumber of analysts participating211098
Oil price assumption WTIHighest109.9116.1114.090.3
Oil price assumption WTIConsensus66.268.1107.5102.889.375.5
Oil price assumption WTILowest95.093.576.566.0
Henry Hub price assumptionNumber of analysts participating221199
Henry Hub price assumptionHighest7.576.786.745.12
Henry Hub price assumptionConsensus2.923.957.266.064.633.91
Henry Hub price assumptionLowest4.004.533.003.00

LAST UPDATE: 2022-07-21
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, ABN AMRO - ODDO BHF, BARCLAYS, BERENBERG BANK, COWEN AND COMPANY, CREDIT SUISSE, DEUTSCHE BANK, EXANE BNP PARIBAS, GOLDMAN SACHS, HSBC, ING, ISI EVERCORE, KEPLER CHEUVREUX, MORGAN STANLEY, PALISSY ADVISORS, RBC CAPITAL MARKETS, REDBURN, SCOTIABANK, SIMMONS & COMPANY INTERNATIONAL, TD SECURITIES.

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.