Royal Dutch Shell plc Estimates Overview >> Consensus
Last Update: 2020-11-18

Royal Dutch Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]FY 2019FY 2020 EFY 2021 EFY 2022 EFY 2023 E
Integrated GasNumber of analysts participating6663
Integrated GasHighest4,9007,98210,6399,144
Integrated GasConsensus8,9554,4155,9127,6267,824
Integrated GasLowest4,0495,0005,1676,365
UpstreamNumber of analysts participating6663
UpstreamHighest-1,9522,1285,2735,633
UpstreamConsensus4,452-2,3281,4513,4723,491
UpstreamLowest-3,0009371,9761,803
Oil Products (CCS basis)Number of analysts participating6664
Oil Products (CCS basis)Highest7,3017,7918,1128,287
Oil Products (CCS basis)Consensus6,2316,2555,8606,3716,527
Oil Products (CCS basis)Lowest5,3844,5515,4635,468
Chemicals (CCS basis)Number of analysts participating6664
Chemicals (CCS basis)Highest8311,4011,7542,999
Chemicals (CCS basis)Consensus7417391,0221,1911,632
Chemicals (CCS basis)Lowest677699759795
Operating IncomeNumber of analysts participating6664
Operating IncomeHighest10,66617,16120,41222,819
Operating IncomeConsensus20,3809,20714,27017,71919,558
Operating IncomeLowest8,62812,47415,01315,089
CorporateNumber of analysts participating5553
CorporateHighest-3,303-3,082-2,819-2,557
CorporateConsensus-3,383-3,463-3,226-3,062-2,824
CorporateLowest-3,695-3,400-3,400-3,114
Non-controlling interestNumber of analysts participating6663
Non-controlling interestHighest-150-281-333-364
Non-controlling interestConsensus-535-228-436-458-419
Non-controlling interestLowest-301-536-550-524
Adjusted EarningsNumber of analysts participating1010104
Adjusted EarningsHighest6,93313,48220,22119,818
Adjusted EarningsConsensus16,4625,51610,71115,79916,376
Adjusted EarningsLowest4,6589,08511,42011,918
Weighted average number of shares (diluted)Number of analysts participating1010104
Weighted average number of shares (diluted)Highest7,9448,0247,8697,822
Weighted average number of shares (diluted)Consensus8,1137,8447,8367,7277,555
Weighted average number of shares (diluted)Lowest7,7637,7437,5177,450
Adjusted Earnings per shareNumber of analysts participating1010104
Adjusted Earnings per shareHighest0.881.712.692.66
Adjusted Earnings per shareConsensus2.040.701.372.052.18
Adjusted Earnings per shareLowest0.601.161.491.52
Dividend per ShareNumber of analysts participating9994
Dividend per ShareHighest0.960.881.041.12
Dividend per ShareConsensus1.880.720.690.740.83
Dividend per ShareLowest0.640.640.670.69
Cash flow from operating activities *Number of analysts participating5552
Cash flow from operating activities *Highest37,55138,91948,51243,057
Cash flow from operating activities *Consensus42,17933,66537,63742,90742,781
Cash flow from operating activities *Lowest32,13336,08037,24542,505
of which decrease / (increase) in working capital (WC)Number of analysts participating3331
of which decrease / (increase) in working capital (WC)Highest3,49801,8900
of which decrease / (increase) in working capital (WC)Consensus-4,7792,902-6306300
of which decrease / (increase) in working capital (WC)Lowest2,209-1,89000
Cash flow from operating activities excl. WC movementsNumber of analysts participating2221
Cash flow from operating activities excl. WC movementsHighest30,95338,84146,62242,505
Cash flow from operating activities excl. WC movementsConsensus46,95830,23138,68943,58542,505
Cash flow from operating activities excl. WC movementsLowest29,50938,53640,54742,505
Oil price assumption BrentNumber of analysts participating7774
Oil price assumption BrentHighest54.056.065.061.2
Oil price assumption BrentConsensus64.243.650.256.356.8
Oil price assumption BrentLowest40.045.050.050.0
Oil price assumption WTINumber of analysts participating3332
Oil price assumption WTIHighest39.553.057.058.1
Oil price assumption WTIConsensus57.038.948.753.656.7
Oil price assumption WTILowest38.546.149.855.3
Henry Hub price assumptionNumber of analysts participating5554
Henry Hub price assumptionHighest2.133.002.752.75
Henry Hub price assumptionConsensus2.532.022.712.552.55
Henry Hub price assumptionLowest1.882.502.302.40
*) Including working capital movement, excluding interest expenses (net)

RESEARCH ANALYSTS WHO WOULD LIKE TO BE INCLUDED IN THE ANALYSTS' CONSENSUS ESTIMATES FOR ROYAL DUTCH SHELL PLC SHOULD SUBMIT THEIR LATEST ESTIMATES AND RESEARCH REPORTS TO VARA RESEARCH VIA THE FOLLOWING EMAIL ADDRESS: INFO@VARARESEARCH.DE. BY CONTACTING VARA IN THIS WAY, UNLESS OTHERWISE SPECIFIED IN THE EMAIL, ANALYSTS WILL BE DEEMED TO HAVE CONSENTED TO THEIR ESTIMATES BEING INCLUDED IN THE ANALYSTS' CONSENSUS ESTIMATES AND THEIR NAME, THEIR EMPLOYER'S NAME AND THE DATE OF THEIR ESTIMATES BEING DISPLAYED ON THIS SUB-SITE.

VARA WILL EXCLUDE FROM THE ANALYSTS' CONSENSUS ESTIMATES ESTIMATES WHICH WERE PRODUCED BY ANALYSTS WHO ARE ANONYMOUS, HAVE NEVER PROVIDED A SUPPORTING RESEARCH REPORT AND / OR HAVE NOT GIVEN THEIR PERMISSION FOR THEIR ESTIMATES TO BE INCLUDED IN THE ANALYSTS' CONSENSUS ESTIMATES.

LAST UPDATE: 2020-11-18
ESTIMATES OF THE FOLLOWING INSTITUTIONS WERE INCLUDED IN THE ABOVE FIGURES (DATES OF THE ESTIMATES ARE PROVIDED IN BRACKETS)
BARCLAYS (2020-10-30), BERENBERG BANK (2020-11-10), CITIGROUP (2020-10-29), COWEN AND COMPANY (2020-11-03), HSBC (2020-11-09), ISI EVERCORE (2020-10-30), KEPLER CHEUVREUX (2020-11-02), ODDO BHF (2020-10-30), RBC CAPITAL MARKETS (2020-10-30), UBS (2020-10-30).

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.