Royal Dutch Shell plc Estimates Overview >> Consensus
Last Update: 2021-10-21

Royal Dutch Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q3 2020FY 2020Q3 2021 EFY 2021 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating218887
Integrated GasHighest2,9809,29815,92113,75511,895
Integrated GasConsensus7684,3832,1597,97411,10710,2269,135
Integrated GasLowest1,3827,1738,5468,9508,213
UpstreamNumber of analysts participating218887
UpstreamHighest2,89813,14313,83311,0527,672
UpstreamConsensus-884-2,8521,9248,9669,4646,7175,422
UpstreamLowest9446,8404,9383,7273,619
Oil Products (CCS basis)Number of analysts participating228887
Oil Products (CCS basis)Highest1,8005,5816,3356,6677,124
Oil Products (CCS basis)Consensus1,6805,9951,5675,1535,7495,9736,233
Oil Products (CCS basis)Lowest1,2224,6904,6874,4484,455
Chemicals (CCS basis)Number of analysts participating228887
Chemicals (CCS basis)Highest7002,7362,9702,7362,895
Chemicals (CCS basis)Consensus2279624272,3542,0152,1902,165
Chemicals (CCS basis)Lowest3022,1201,2241,3481,709
CorporateNumber of analysts participating218887
CorporateHighest-500-1,936-1,105-579-6
CorporateConsensus-792-3,412-650-2,286-2,017-1,733-1,617
CorporateLowest-706-2,465-2,800-2,600-2,600
Non-controlling interest (CCS basis)Number of analysts participating218887
Non-controlling interest (CCS basis)Highest-35-355-400-400-400
Non-controlling interest (CCS basis)Consensus-45-230-112-462-492-483-461
Non-controlling interest (CCS basis)Lowest-158-766-639-643-543
Royal Dutch Shell Adjusted EarningsNumber of analysts participating228887
Royal Dutch Shell Adjusted EarningsHighest6,51024,33429,62430,90525,503
Royal Dutch Shell Adjusted EarningsConsensus9554,8465,31021,69925,82622,89120,878
Royal Dutch Shell Adjusted EarningsLowest3,52719,76919,80217,87117,562
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating135554
Integrated Gas, adjusted EBITDA (CCS basis)Highest5,19717,27428,29420,65218,958
Integrated Gas, adjusted EBITDA (CCS basis)Consensus2,349-4,36015,65420,21418,50817,362
Integrated Gas, adjusted EBITDA (CCS basis)Lowest3,25414,39517,03317,08316,145
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating135554
Upstream, adjusted EBITDA (CCS basis)Highest7,87030,15235,27232,29331,711
Upstream, adjusted EBITDA (CCS basis)Consensus2,911-6,74628,10130,79825,76824,465
Upstream, adjusted EBITDA (CCS basis)Lowest5,10625,86123,99421,45721,032
Oil Products, adjusted EBITDA (CCS basis)Number of analysts participating124443
Oil Products, adjusted EBITDA (CCS basis)Highest3,24311,79211,58012,11111,950
Oil Products, adjusted EBITDA (CCS basis)Consensus2,520-2,77710,53810,49310,82611,322
Oil Products, adjusted EBITDA (CCS basis)Lowest2,3549,6818,8049,55110,505
Chemicals, adjusted EBITDA (CCS basis)Number of analysts participating124443
Chemicals, adjusted EBITDA (CCS basis)Highest9033,7773,4474,7074,954
Chemicals, adjusted EBITDA (CCS basis)Consensus466-8103,6213,1153,6523,719
Chemicals, adjusted EBITDA (CCS basis)Lowest6583,4542,4912,6313,053
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating113332
Corporate, adjusted EBITDA (CCS basis)Highest-85-298-156-145-500
Corporate, adjusted EBITDA (CCS basis)Consensus-247--154-450-445-442-590
Corporate, adjusted EBITDA (CCS basis)Lowest-205-614-680-680-680
Royal Dutch Shell Adjusted EBITDA (CCS basis)Number of analysts participating145554
Royal Dutch Shell Adjusted EBITDA (CCS basis)Highest16,26063,56672,02361,49160,601
Royal Dutch Shell Adjusted EBITDA (CCS basis)Consensus7,953-14,61158,75563,65157,20554,947
Royal Dutch Shell Adjusted EBITDA (CCS basis)Lowest11,25054,99455,58952,05050,957
Cash flow from operating activitiesNumber of analysts participating124221
Cash flow from operating activitiesHighest13,89054,04152,06452,90650,803
Cash flow from operating activitiesConsensus10,40334,10512,09447,35251,51451,25250,803
Cash flow from operating activitiesLowest8,26737,39150,96449,59850,803
of which decrease / (increase) in working capitalNumber of analysts participating124221
of which decrease / (increase) in working capitalHighest1,6226,9494323,059145
of which decrease / (increase) in working capitalConsensus1,4484,610-1,207-3,3611051,593145
of which decrease / (increase) in working capitalLowest-3,362-7,449-221127145
Cash flow from operating activities excl. working capital movementsNumber of analysts participating217776
Cash flow from operating activities excl. working capital movementsHighest16,69258,48159,73755,31450,658
Cash flow from operating activities excl. working capital movementsConsensus8,95529,49513,29351,00153,26050,82247,943
Cash flow from operating activities excl. working capital movementsLowest11,29744,34046,02045,15744,708
Oil price assumption BrentNumber of analysts participating218887
Oil price assumption BrentHighest74.072.181.385.070.0
Oil price assumption BrentConsensus42.941.872.770.370.165.661.4
Oil price assumption BrentLowest64.368.463.960.059.0
Oil price assumption WTINumber of analysts participating208886
Oil price assumption WTIHighest72.569.178.381.057.0
Oil price assumption WTIConsensus40.939.270.567.267.061.755.9
Oil price assumption WTILowest69.565.360.755.855.0
Henry Hub price assumptionNumber of analysts participating208887
Henry Hub price assumptionHighest5.504.134.294.124.12
Henry Hub price assumptionConsensus1.982.004.323.573.793.143.00
Henry Hub price assumptionLowest4.002.722.802.502.50
*) Including working capital movement, excluding interest expenses (net)

LAST UPDATE: 2021-10-21
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, ABN AMRO - ODDO BHF, BARCLAYS, BERENBERG BANK, COWEN AND COMPANY, DEUTSCHE BANK, EXANE BNP PARIBAS, GOLDMAN SACHS, HSBC, 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.