Shell plc Estimates Overview >> Consensus
Last Update: 2022-10-20

Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q3 2021FY 2021Q3 2022 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating25131312
Integrated GasHighest5,57918,38020,24321,392
Integrated GasConsensus1,8379,0483,66615,69915,43813,126
Integrated GasLowest1,78712,7698,0256,941
UpstreamNumber of analysts participating25131312
UpstreamHighest5,75019,58221,95217,043
UpstreamConsensus1,7348,0164,21916,95213,5969,891
UpstreamLowest2,42314,3865,9263,541
MarketingNumber of analysts participating25131312
MarketingHighest1,2564,4385,3926,026
MarketingConsensus1,0993,4679353,3624,1224,493
MarketingLowest5572,7093,2003,372
Chemicals & ProductsNumber of analysts participating25131312
Chemicals & ProductsHighest1,5256,5825,2174,526
Chemicals & ProductsConsensus4752,1157584,8282,9012,596
Chemicals & ProductsLowest2503,322-401-573
Renewables and Energy SolutionsNumber of analysts participating25121212
Renewables and Energy SolutionsHighest6532,0421,6251,614
Renewables and Energy SolutionsConsensus-171-2431131,476945952
Renewables and Energy SolutionsLowest-631,132408428
CorporateNumber of analysts participating26131312
CorporateHighest-429-1,716-1,218-542
CorporateConsensus-732-2,686-610-2,424-2,230-2,075
CorporateLowest-700-3,641-2,814-3,000
Non-controlling interest (CCS basis)Number of analysts participating25121211
Non-controlling interest (CCS basis)Highest0-1960-105
Non-controlling interest (CCS basis)Consensus-112-429-115-441-462-455
Non-controlling interest (CCS basis)Lowest-355-803-999-802
Shell plc adjusted EarningsNumber of analysts participating27141413
Shell plc adjusted EarningsHighest10,91043,56046,86942,155
Shell plc adjusted EarningsConsensus4,13019,2898,99539,60934,90528,932
Shell plc adjusted EarningsLowest6,58634,82822,22917,050
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating221099
Integrated Gas, adjusted EBITDA (CCS basis)Highest8,63429,54532,63733,006
Integrated Gas, adjusted EBITDA (CCS basis)Consensus3,92216,7546,36125,50825,70022,442
Integrated Gas, adjusted EBITDA (CCS basis)Lowest4,70622,30015,85514,501
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating221099
Upstream, adjusted EBITDA (CCS basis)Highest12,85547,33348,70539,168
Upstream, adjusted EBITDA (CCS basis)Consensus6,76827,17010,93141,56036,25029,168
Upstream, adjusted EBITDA (CCS basis)Lowest9,32738,00424,74422,336
Marketing, adjusted EBITDA (CCS basis)Number of analysts participating211099
Marketing, adjusted EBITDA (CCS basis)Highest2,1947,1799,65319,718
Marketing, adjusted EBITDA (CCS basis)Consensus1,7606,0211,6296,0207,3579,196
Marketing, adjusted EBITDA (CCS basis)Lowest1,3235,2926,0336,109
Chemicals & Products, adjusted EBITDA (CCS basis)Number of analysts participating211099
Chemicals & Products, adjusted EBITDA (CCS basis)Highest2,39210,50311,88110,278
Chemicals & Products, adjusted EBITDA (CCS basis)Consensus1,2825,6361,7368,8916,9346,289
Chemicals & Products, adjusted EBITDA (CCS basis)Lowest1,0307,6461,3371,069
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Number of analysts participating211099
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Highest9122,9072,1522,252
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Consensus-124-212732,2681,4981,505
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Lowest01,784873873
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating18888
Corporate, adjusted EBITDA (CCS basis)Highest52-456-500-500
Corporate, adjusted EBITDA (CCS basis)Consensus-147-553-147-755-794-806
Corporate, adjusted EBITDA (CCS basis)Lowest-300-2,000-1,900-1,800
Shell plc adjusted EBITDA (CCS basis)Number of analysts participating2111109
Shell plc adjusted EBITDA (CCS basis)Highest23,33691,27297,65488,418
Shell plc adjusted EBITDA (CCS basis)Consensus13,46155,00720,72183,72977,06467,855
Shell plc adjusted EBITDA (CCS basis)Lowest17,97277,35861,28352,011
Cash flow from operating activitiesNumber of analysts participating221166
Cash flow from operating activitiesHighest17,72579,56370,19558,495
Cash flow from operating activitiesConsensus16,02545,10614,03166,33062,27354,554
Cash flow from operating activitiesLowest12,10560,03353,84248,113
of which decrease / (increase) in working capitalNumber of analysts participating221166
of which decrease / (increase) in working capitalHighest-1,100-7,2167,7924,500
of which decrease / (increase) in working capitalConsensus-1,447-10,367-2,728-12,5702,9202,010
of which decrease / (increase) in working capitalLowest-4,500-16,668-3,500-1,000
Cash flow from operating activities excl. working capital movementsNumber of analysts participating26141413
Cash flow from operating activities excl. working capital movementsHighest20,22592,23084,95976,924
Cash flow from operating activities excl. working capital movementsConsensus17,47255,47116,47076,66263,48056,807
Cash flow from operating activities excl. working capital movementsLowest13,78263,43951,48445,338
Oil price assumption BrentNumber of analysts participating25141413
Oil price assumption BrentHighest101.0106.3115.8100.0
Oil price assumption BrentConsensus73.570.999.3102.491.381.9
Oil price assumption BrentLowest95.199.780.070.0
Oil price assumption WTINumber of analysts participating21131312
Oil price assumption WTIHighest97.5102.3114.095.5
Oil price assumption WTIConsensus70.568.191.996.686.977.2
Oil price assumption WTILowest90.092.077.065.0
Henry Hub price assumptionNumber of analysts participating23131312
Henry Hub price assumptionHighest8.207.296.745.12
Henry Hub price assumptionConsensus4.293.957.996.755.074.32
Henry Hub price assumptionLowest7.506.214.253.00

LAST UPDATE: 2022-10-20
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, ABN AMRO - ODDO BHF, BANK OF AMERICA, BARCLAYS, BERENBERG BANK, CREDIT SUISSE, DEUTSCHE BANK, EXANE BNP PARIBAS, GOLDMAN SACHS, HSBC, ING, ISI EVERCORE, KEPLER CHEUVREUX, MORGAN STANLEY, PALISSY ADVISORS, RBC CAPITAL MARKETS, REDBURN, SANTANDER, SCOTIABANK, SIMMONS & COMPANY INTERNATIONAL, SOCIÉTÉ GÉNÉRALE, TD SECURITIES, WELLS FARGO, WOLFE RESEARCH.

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.