Shell plc Estimates Overview >> Consensus
Last Update: 2023-01-26

Shell plc Analysts' Consensus Estimates
Financial Figures in Million US-Dollar (except where indicated differently)
[in Mill. US Dollar]Q4 2021FY 2021Q4 2022 EFY 2022 EFY 2023 EFY 2024 E
Integrated GasNumber of analysts participating27131313
Integrated GasHighest5,04614,48920,72922,134
Integrated GasConsensus4,0369,0483,79313,84112,86411,748
Integrated GasLowest2,66713,2788,6315,278
UpstreamNumber of analysts participating27131313
UpstreamHighest4,92119,17920,60919,310
UpstreamConsensus2,8388,0163,44017,72014,30711,420
UpstreamLowest2,11616,5156,4004,003
MarketingNumber of analysts participating27131313
MarketingHighest9433,1485,3145,944
MarketingConsensus6113,4677243,0573,6343,984
MarketingLowest6032,9732,8523,035
Chemicals & ProductsNumber of analysts participating27131313
Chemicals & ProductsHighest2,5836,5585,7304,479
Chemicals & ProductsConsensus-1302,1158394,9733,2152,663
Chemicals & ProductsLowest1104,3741,445761
Renewables and Energy SolutionsNumber of analysts participating28141414
Renewables and Energy SolutionsHighest1641,6161,7741,831
Renewables and Energy SolutionsConsensus43-243-1011,4031,0641,119
Renewables and Energy SolutionsLowest-4331,20200
CorporateNumber of analysts participating28141414
CorporateHighest-525-2,270-1,620-909
CorporateConsensus-889-2,686-613-2,348-2,250-2,142
CorporateLowest-702-2,445-3,287-3,568
Non-controlling interest (CCS basis)Number of analysts participating28141414
Non-controlling interest (CCS basis)Highest112-361460460
Non-controlling interest (CCS basis)Consensus-117-429-106-460-326-320
Non-controlling interest (CCS basis)Lowest-205-525-776-772
Shell plc adjusted EarningsNumber of analysts participating28141414
Shell plc adjusted EarningsHighest10,09140,14746,90242,518
Shell plc adjusted EarningsConsensus6,39119,2897,97138,17632,80129,106
Shell plc adjusted EarningsLowest6,37337,10420,83516,693
Integrated Gas, adjusted EBITDA (CCS basis)Number of analysts participating23988
Integrated Gas, adjusted EBITDA (CCS basis)Highest8,38924,51032,16033,924
Integrated Gas, adjusted EBITDA (CCS basis)Consensus6,09116,7546,19124,10422,99921,719
Integrated Gas, adjusted EBITDA (CCS basis)Lowest4,81623,57216,84915,478
Upstream, adjusted EBITDA (CCS basis)Number of analysts participating23988
Upstream, adjusted EBITDA (CCS basis)Highest11,56444,24747,14937,887
Upstream, adjusted EBITDA (CCS basis)Consensus8,44627,1709,92142,60537,61731,584
Upstream, adjusted EBITDA (CCS basis)Lowest7,84140,52427,52722,071
Marketing, adjusted EBITDA (CCS basis)Number of analysts participating22988
Marketing, adjusted EBITDA (CCS basis)Highest2,7777,0579,65310,262
Marketing, adjusted EBITDA (CCS basis)Consensus1,1256,0211,3695,7836,9057,489
Marketing, adjusted EBITDA (CCS basis)Lowest1,1445,5465,2905,615
Chemicals & Products, adjusted EBITDA (CCS basis)Number of analysts participating22988
Chemicals & Products, adjusted EBITDA (CCS basis)Highest2,4089,3957,7137,411
Chemicals & Products, adjusted EBITDA (CCS basis)Consensus7415,6361,7028,8156,8595,765
Chemicals & Products, adjusted EBITDA (CCS basis)Lowest9828,5635,7292,809
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Number of analysts participating22988
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Highest3082,3702,1341,972
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Consensus80-2192,1201,6571,654
Renewables and Energy Solutions, adjusted EBITDA (CCS basis)Lowest-4411,9448601,142
Corporate, adjusted EBITDA (CCS basis)Number of analysts participating19766
Corporate, adjusted EBITDA (CCS basis)Highest29-53261-13
Corporate, adjusted EBITDA (CCS basis)Consensus-133-553-208-679-648-644
Corporate, adjusted EBITDA (CCS basis)Lowest-630-832-1,500-1,200
Shell plc adjusted EBITDA (CCS basis)Number of analysts participating25121111
Shell plc adjusted EBITDA (CCS basis)Highest21,45285,14296,84388,127
Shell plc adjusted EBITDA (CCS basis)Consensus16,35055,00719,12382,91975,38466,611
Shell plc adjusted EBITDA (CCS basis)Lowest17,11681,02462,52756,410
Cash flow from operating activitiesNumber of analysts participating231199
Cash flow from operating activitiesHighest21,29966,57366,42866,888
Cash flow from operating activitiesConsensus8,17045,10618,17364,04560,43956,323
Cash flow from operating activitiesLowest13,31959,32851,90148,650
of which decrease / (increase) in working capitalNumber of analysts participating221088
of which decrease / (increase) in working capitalHighest4,811-11,0135,4245,411
of which decrease / (increase) in working capitalConsensus-2,971-10,3674,005-11,754-289478
of which decrease / (increase) in working capitalLowest3,500-11,982-11,982-11,982
Cash flow from operating activities excl. working capital movementsNumber of analysts participating26131313
Cash flow from operating activities excl. working capital movementsHighest17,29978,39884,25376,670
Cash flow from operating activities excl. working capital movementsConsensus11,13955,47114,21375,97961,16456,338
Cash flow from operating activities excl. working capital movementsLowest11,90673,74051,42346,279
Oil price assumption BrentNumber of analysts participating28141414
Oil price assumption BrentHighest99.8101.4100.0101.5
Oil price assumption BrentConsensus79.870.989.499.888.681.9
Oil price assumption BrentLowest87.298.679.070.0
Oil price assumption WTINumber of analysts participating26141414
Oil price assumption WTIHighest94.395.095.098.5
Oil price assumption WTIConsensus77.368.183.594.284.377.5
Oil price assumption WTILowest79.092.074.065.0
Henry Hub price assumptionNumber of analysts participating28141414
Henry Hub price assumptionHighest7.946.666.755.12
Henry Hub price assumptionConsensus4.753.956.006.504.634.40
Henry Hub price assumptionLowest5.206.383.764.00

LAST UPDATE: 2023-01-26
ESTIMATES INCLUDED FROM AMONGST OTHERS:
AB BERNSTEIN, ABN AMRO - ODDO BHF, BANK OF AMERICA, BARCLAYS, 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, SANTANDER, SCOTIABANK, SIMMONS & COMPANY INTERNATIONAL, SOCIÉTÉ GÉNÉRALE, TD SECURITIES, TUDOR, PICKERING, HOLT & CO., 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.