Royal Dutch Shell plc Estimates Overview >> Consensus
Last Update: 2020-09-26

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 participating7775
Integrated GasHighest4,9557,50810,24211,671
Integrated GasConsensus8,9553,8935,9578,0459,012
Integrated GasLowest2,0074,7165,1676,167
UpstreamNumber of analysts participating6665
UpstreamHighest-7802,0128,1528,991
UpstreamConsensus4,452-1,7701,4214,0835,176
UpstreamLowest-2,9001,0131,9512,069
Oil Products (CCS basis)Number of analysts participating5554
Oil Products (CCS basis)Highest6,5246,7387,7747,949
Oil Products (CCS basis)Consensus6,2315,7805,5856,3806,532
Oil Products (CCS basis)Lowest5,2414,2005,5005,800
Chemicals (CCS basis)Number of analysts participating5554
Chemicals (CCS basis)Highest8461,3711,7542,999
Chemicals (CCS basis)Consensus7416819741,2621,963
Chemicals (CCS basis)Lowest551600862904
Operating IncomeNumber of analysts participating7775
Operating IncomeHighest10,12116,62326,59929,974
Operating IncomeConsensus20,3808,75414,16320,22022,891
Operating IncomeLowest6,48612,14715,02615,295
CorporateNumber of analysts participating5553
CorporateHighest-3,300-2,881-2,470-2,199
CorporateConsensus-3,383-3,370-3,092-2,885-2,701
CorporateLowest-3,417-3,300-3,300-3,000
Non-controlling interestNumber of analysts participating5553
Non-controlling interestHighest-127-233-311-248
Non-controlling interestConsensus-535-345-464-490-455
Non-controlling interestLowest-495-553-587-618
Adjusted EarningsNumber of analysts participating1111105
Adjusted EarningsHighest6,33113,18924,12327,762
Adjusted EarningsConsensus16,4624,90610,91116,78219,954
Adjusted EarningsLowest3,6288,71911,65812,143
Weighted average number of shares (diluted)Number of analysts participating1111105
Weighted average number of shares (diluted)Highest8,1298,0997,9357,822
Weighted average number of shares (diluted)Consensus8,1137,8887,8607,7887,711
Weighted average number of shares (diluted)Lowest7,7697,7487,6917,472
Adjusted Earnings per shareNumber of analysts participating1111105
Adjusted Earnings per shareHighest0.801.683.043.56
Adjusted Earnings per shareConsensus2.040.621.392.152.59
Adjusted Earnings per shareLowest0.461.111.491.55
Dividend per ShareNumber of analysts participating101094
Dividend per ShareHighest0.950.881.040.72
Dividend per ShareConsensus1.880.700.670.710.69
Dividend per ShareLowest0.640.640.640.64
Cash flow from operating activities *Number of analysts participating4431
Cash flow from operating activities *Highest34,66140,50044,34247,063
Cash flow from operating activities *Consensus42,17931,33937,68242,26447,063
Cash flow from operating activities *Lowest26,47236,41238,75047,063
of which decrease / (increase) in working capital (WC)Number of analysts participating321-
of which decrease / (increase) in working capital (WC)Highest7,50000-
of which decrease / (increase) in working capital (WC)Consensus-4,7793,66600-
of which decrease / (increase) in working capital (WC)Lowest000-
Cash flow from operating activities excl. WC movementsNumber of analysts participating432-
Cash flow from operating activities excl. WC movementsHighest28,28240,50047,196-
Cash flow from operating activities excl. WC movementsConsensus46,95827,46138,69145,769-
Cash flow from operating activities excl. WC movementsLowest26,47236,41244,342-
Oil price assumption BrentNumber of analysts participating7774
Oil price assumption BrentHighest42.852.571.074.0
Oil price assumption BrentConsensus64.240.949.358.560.4
Oil price assumption BrentLowest39.545.050.050.0
Oil price assumption WTINumber of analysts participating111-
Oil price assumption WTIHighest38.445.250.0-
Oil price assumption WTIConsensus57.038.445.250.0-
Oil price assumption WTILowest38.445.250.0-
Henry Hub price assumptionNumber of analysts participating5553
Henry Hub price assumptionHighest2.002.532.602.75
Henry Hub price assumptionConsensus2.531.912.352.442.52
Henry Hub price assumptionLowest1.802.002.302.30
*) 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: 2020-09-26
ESTIMATES OF THE FOLLOWING INSTITUTIONS WERE INCLUDED IN THE ABOVE FIGURES (DATES OF THE ESTIMATES ARE PROVIDED IN BRACKETS)
AB BERNSTEIN (2020-08-10), BARCLAYS (2020-09-25), BERENBERG BANK (2020-07-31), CITIGROUP (2020-09-25), COWEN AND COMPANY (2020-09-24), HSBC (2020-08-10), ISI EVERCORE (2020-07-31), KEPLER CHEUVREUX (2020-08-03), ODDO BHF (2020-07-31), RBC CAPITAL MARKETS (2020-09-25), UBS (2020-09-25).

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.