SHELL PLC (SHELL.AS) Stock Fundamental Analysis

Europe • Euronext Amsterdam • AMS:SHELL • GB00BP6MXD84

32.105 EUR
+0.01 (+0.05%)
Last: Feb 9, 2026, 10:39 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SHELL. SHELL was compared to 74 industry peers in the Oil, Gas & Consumable Fuels industry. SHELL has only an average score on both its financial health and profitability. SHELL has a decent growth rate and is not valued too expensively. SHELL also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year SHELL was profitable.
  • SHELL had a positive operating cash flow in the past year.
  • In the past 5 years SHELL has always been profitable.
  • In the past 5 years SHELL always reported a positive cash flow from operatings.
SHELL.AS Yearly Net Income VS EBIT VS OCF VS FCFSHELL.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B 60B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 4.82%, SHELL is in the better half of the industry, outperforming 68.92% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 10.23%, SHELL is in line with its industry, outperforming 56.76% of the companies in the same industry.
  • SHELL has a Return On Invested Capital of 6.19%. This is comparable to the rest of the industry: SHELL outperforms 56.76% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SHELL is below the industry average of 8.91%.
Industry RankSector Rank
ROA 4.82%
ROE 10.23%
ROIC 6.19%
ROA(3y)4.58%
ROA(5y)5.65%
ROE(3y)9.88%
ROE(5y)12.71%
ROIC(3y)6.63%
ROIC(5y)7.06%
SHELL.AS Yearly ROA, ROE, ROICSHELL.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 6.68%, SHELL is in line with its industry, outperforming 45.95% of the companies in the same industry.
  • In the last couple of years the Profit Margin of SHELL has declined.
  • SHELL's Operating Margin of 11.51% is on the low side compared to the rest of the industry. SHELL is outperformed by 62.16% of its industry peers.
  • SHELL's Operating Margin has improved in the last couple of years.
  • The Gross Margin of SHELL (25.40%) is worse than 72.97% of its industry peers.
  • In the last couple of years the Gross Margin of SHELL has grown nicely.
Industry RankSector Rank
OM 11.51%
PM (TTM) 6.68%
GM 25.4%
OM growth 3Y-9.31%
OM growth 5Y70.64%
PM growth 3Y-15.55%
PM growth 5YN/A
GM growth 3Y-0.15%
GM growth 5Y3.06%
SHELL.AS Yearly Profit, Operating, Gross MarginsSHELL.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SHELL is destroying value.
  • The number of shares outstanding for SHELL has been reduced compared to 1 year ago.
  • Compared to 5 years ago, SHELL has less shares outstanding
  • The debt/assets ratio for SHELL is higher compared to a year ago.
SHELL.AS Yearly Shares OutstandingSHELL.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B
SHELL.AS Yearly Total Debt VS Total AssetsSHELL.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100B 200B 300B 400B

2.2 Solvency

  • SHELL has an Altman-Z score of 2.06. This is not the best score and indicates that SHELL is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a decent Altman-Z score value of 2.06, SHELL is doing good in the industry, outperforming 60.81% of the companies in the same industry.
  • The Debt to FCF ratio of SHELL is 3.16, which is a good value as it means it would take SHELL, 3.16 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 3.16, SHELL is in the better half of the industry, outperforming 77.03% of the companies in the same industry.
  • A Debt/Equity ratio of 0.38 indicates that SHELL is not too dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.38, SHELL is doing good in the industry, outperforming 66.22% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 3.16
Altman-Z 2.06
ROIC/WACC0.89
WACC6.92%
SHELL.AS Yearly LT Debt VS Equity VS FCFSHELL.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50B 100B 150B

2.3 Liquidity

  • A Current Ratio of 1.30 indicates that SHELL should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.30, SHELL is in line with its industry, outperforming 48.65% of the companies in the same industry.
  • A Quick Ratio of 1.03 indicates that SHELL should not have too much problems paying its short term obligations.
  • SHELL has a Quick ratio (1.03) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.3
Quick Ratio 1.03
SHELL.AS Yearly Current Assets VS Current LiabilitesSHELL.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The earnings per share for SHELL have decreased by -0.78% in the last year.
  • Measured over the past years, SHELL shows a very strong growth in Earnings Per Share. The EPS has been growing by 43.02% on average per year.
  • SHELL shows a decrease in Revenue. In the last year, the revenue decreased by -6.13%.
  • SHELL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.13% yearly.
EPS 1Y (TTM)-0.78%
EPS 3Y-11.76%
EPS 5Y43.02%
EPS Q2Q%93.55%
Revenue 1Y (TTM)-6.13%
Revenue growth 3Y-11.21%
Revenue growth 5Y8.13%
Sales Q2Q%0.67%

3.2 Future

  • The Earnings Per Share is expected to grow by 12.62% on average over the next years. This is quite good.
  • SHELL is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -2.36% yearly.
EPS Next Y-13.44%
EPS Next 2Y-0.36%
EPS Next 3Y6.63%
EPS Next 5Y12.62%
Revenue Next Year-2.2%
Revenue Next 2Y2.66%
Revenue Next 3Y0.21%
Revenue Next 5Y-2.36%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SHELL.AS Yearly Revenue VS EstimatesSHELL.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 100B 200B 300B
SHELL.AS Yearly EPS VS EstimatesSHELL.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.19, the valuation of SHELL can be described as reasonable.
  • 82.43% of the companies in the same industry are more expensive than SHELL, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of SHELL to the average of the S&P500 Index (27.93), we can say SHELL is valued rather cheaply.
  • SHELL is valuated reasonably with a Price/Forward Earnings ratio of 11.79.
  • SHELL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SHELL is cheaper than 67.57% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 27.77. SHELL is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.19
Fwd PE 11.79
SHELL.AS Price Earnings VS Forward Price EarningsSHELL.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SHELL is valued cheaper than 86.49% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, SHELL is valued cheaply inside the industry as 93.24% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 4.49
EV/EBITDA 2.73
SHELL.AS Per share dataSHELL.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.24
EPS Next 2Y-0.36%
EPS Next 3Y6.63%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • SHELL has a Yearly Dividend Yield of 3.89%. Purely for dividend investing, there may be better candidates out there.
  • SHELL's Dividend Yield is a higher than the industry average which is at 5.14.
  • SHELL's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 3.89%

5.2 History

  • On average, the dividend of SHELL grows each year by 8.63%, which is quite nice.
Dividend Growth(5Y)8.63%
Div Incr Years3
Div Non Decr Years3
SHELL.AS Yearly Dividends per shareSHELL.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

  • SHELL pays out 47.49% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of SHELL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP47.49%
EPS Next 2Y-0.36%
EPS Next 3Y6.63%
SHELL.AS Yearly Income VS Free CF VS DividendSHELL.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B
SHELL.AS Dividend Payout.SHELL.AS Dividend Payout, showing the Payout Ratio.SHELL.AS Dividend Payout.PayoutRetained Earnings

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SHELL PLC

AMS:SHELL (2/9/2026, 10:39:26 AM)

32.105

+0.01 (+0.05%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-05
Earnings (Next)05-07
Inst Owners37.89%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap91.04B
Revenue(TTM)266.89B
Net Income(TTM)17.84B
Analysts72.31
Price Target38.48 (19.86%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.89%
Yearly Dividend1.21
Dividend Growth(5Y)8.63%
DP47.49%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)43.47%
Min EPS beat(2)7.6%
Max EPS beat(2)79.35%
EPS beat(4)2
Avg EPS beat(4)16.54%
Min EPS beat(4)-16.35%
Max EPS beat(4)79.35%
EPS beat(8)5
Avg EPS beat(8)8.93%
EPS beat(12)7
Avg EPS beat(12)6.01%
EPS beat(16)10
Avg EPS beat(16)6.33%
Revenue beat(2)1
Avg Revenue beat(2)-2.96%
Min Revenue beat(2)-8.18%
Max Revenue beat(2)2.25%
Revenue beat(4)1
Avg Revenue beat(4)-5.49%
Min Revenue beat(4)-13.37%
Max Revenue beat(4)2.25%
Revenue beat(8)1
Avg Revenue beat(8)-7.52%
Revenue beat(12)2
Avg Revenue beat(12)-9.49%
Revenue beat(16)4
Avg Revenue beat(16)-7.01%
PT rev (1m)0.8%
PT rev (3m)2.75%
EPS NQ rev (1m)-4.42%
EPS NQ rev (3m)18.62%
EPS NY rev (1m)-3.11%
EPS NY rev (3m)-2.72%
Revenue NQ rev (1m)-1.44%
Revenue NQ rev (3m)-3%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.78%
Valuation
Industry RankSector Rank
PE 10.19
Fwd PE 11.79
P/S 0.4
P/FCF 4.49
P/OCF 2.51
P/B 0.62
P/tB 0.73
EV/EBITDA 2.73
EPS(TTM)3.15
EY9.81%
EPS(NY)2.72
Fwd EY8.48%
FCF(TTM)7.15
FCFY22.27%
OCF(TTM)12.82
OCFY39.92%
SpS79.8
BVpS52.14
TBVpS44.17
PEG (NY)N/A
PEG (5Y)0.24
Graham Number60.79
Profitability
Industry RankSector Rank
ROA 4.82%
ROE 10.23%
ROCE 10.67%
ROIC 6.19%
ROICexc 6.92%
ROICexgc 7.72%
OM 11.51%
PM (TTM) 6.68%
GM 25.4%
FCFM 8.96%
ROA(3y)4.58%
ROA(5y)5.65%
ROE(3y)9.88%
ROE(5y)12.71%
ROIC(3y)6.63%
ROIC(5y)7.06%
ROICexc(3y)7.53%
ROICexc(5y)8.03%
ROICexgc(3y)8.37%
ROICexgc(5y)8.89%
ROCE(3y)11.43%
ROCE(5y)12.19%
ROICexgc growth 3Y-16.58%
ROICexgc growth 5Y88.73%
ROICexc growth 3Y-16.97%
ROICexc growth 5Y87.78%
OM growth 3Y-9.31%
OM growth 5Y70.64%
PM growth 3Y-15.55%
PM growth 5YN/A
GM growth 3Y-0.15%
GM growth 5Y3.06%
F-Score5
Asset Turnover0.72
Health
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 3.16
Debt/EBITDA 1.19
Cap/Depr 74.89%
Cap/Sales 7.1%
Interest Coverage 7.48
Cash Conversion 76.53%
Profit Quality 134.09%
Current Ratio 1.3
Quick Ratio 1.03
Altman-Z 2.06
F-Score5
WACC6.92%
ROIC/WACC0.89
Cap/Depr(3y)73.77%
Cap/Depr(5y)82.77%
Cap/Sales(3y)7.09%
Cap/Sales(5y)6.89%
Profit Quality(3y)171.08%
Profit Quality(5y)150.28%
High Growth Momentum
Growth
EPS 1Y (TTM)-0.78%
EPS 3Y-11.76%
EPS 5Y43.02%
EPS Q2Q%93.55%
EPS Next Y-13.44%
EPS Next 2Y-0.36%
EPS Next 3Y6.63%
EPS Next 5Y12.62%
Revenue 1Y (TTM)-6.13%
Revenue growth 3Y-11.21%
Revenue growth 5Y8.13%
Sales Q2Q%0.67%
Revenue Next Year-2.2%
Revenue Next 2Y2.66%
Revenue Next 3Y0.21%
Revenue Next 5Y-2.36%
EBIT growth 1Y-7.86%
EBIT growth 3Y-19.48%
EBIT growth 5Y84.52%
EBIT Next Year61.29%
EBIT Next 3Y21.51%
EBIT Next 5Y14.41%
FCF growth 1Y-31.83%
FCF growth 3Y-19.48%
FCF growth 5Y6.42%
OCF growth 1Y-21.62%
OCF growth 3Y-14.43%
OCF growth 5Y4.68%

SHELL PLC / SHELL.AS FAQ

What is the ChartMill fundamental rating of SHELL PLC (SHELL.AS) stock?

ChartMill assigns a fundamental rating of 5 / 10 to SHELL.AS.


Can you provide the valuation status for SHELL PLC?

ChartMill assigns a valuation rating of 6 / 10 to SHELL PLC (SHELL.AS). This can be considered as Fairly Valued.


Can you provide the profitability details for SHELL PLC?

SHELL PLC (SHELL.AS) has a profitability rating of 4 / 10.


What are the PE and PB ratios of SHELL PLC (SHELL.AS) stock?

The Price/Earnings (PE) ratio for SHELL PLC (SHELL.AS) is 10.19 and the Price/Book (PB) ratio is 0.62.


What is the earnings growth outlook for SHELL PLC?

The Earnings per Share (EPS) of SHELL PLC (SHELL.AS) is expected to decline by -13.44% in the next year.