Shell plc
- Open
- 92.04
- Day high
- 92.55
- Day low
- 91.02
- Prev close
- 90.91
- Volume
- 6.1M
- Mkt cap
- $251.6B
- P/E (TTM)
- 10.0
- EPS (TTM)
- $9.14
- P/B
- 1.4
- P/S
- 0.8
- Yield
- 2.52%
- Per share
- $2.31
Shell plc (SHEL) is a Energy company listed on NYSE. The stock is up 24% over the past year. Drillr has 15 published research articles covering SHEL.
Shell plc (SHEL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SHEL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $3.19 | $3.52 | +10.3% | $94.7B | +11.3% |
| May 7, 2026 | $2.13 | $2.44 | +14.8% | $69.7B | -9.4% |
| Feb 5, 2026 | $1.20 | $1.14 | -5.2% | $64.0B | -7.4% |
| Oct 30, 2025 | $1.72 | $1.86 | +7.9% | $67.7B | +0.3% |
| Jul 31, 2025 | $1.14 | $1.42 | +24.1% | $65.4B | -6.8% |
| May 2, 2025 | $1.55 | $1.84 | +18.4% | $69.2B | -1.9% |
| Jan 30, 2025 | $1.75 | $1.20 | -31.4% | $66.3B | +1.6% |
| Oct 31, 2024 | $1.66 | $2.36 | +42.3% | $71.1B | +15.6% |
| Aug 1, 2024 | $1.80 | $1.97 | +9.1% | $74.5B | +21.7% |
| May 2, 2024 | $1.88 | $2.38 | +26.9% | $72.5B | -11.1% |
| Feb 1, 2024 | $1.95 | $2.22 | +13.7% | $78.7B | +1.3% |
| Nov 2, 2023 | $1.87 | $1.86 | -0.7% | $76.4B | -9.9% |
SHEL research & analysis
CVX, SHEL Confirm Oil Inflection — Trafigura $4.1B H1 Profit
Trafigura H1 profit doubles to $4.1B; CEO calls oil 'inflection point'. CVX at $189, SHEL at $86 — commodity trader confirms supply-side oil thesis.
CVXSHEL: Hormuz Blockade Tightens LNG Supply for Majors
The Hormuz blockade creates a bifurcated outcome: LNG producers with Middle East assets (Shell, ExxonMobil, TotalEnergies) face 2-3 quarter supply disruptions and margin compression, while refining-heavy majors and integrated producers with refining exposure benefit from crude-product spread widening. Consensus has treated all majors symmetrically on Brent upside, missing the structural divergence. LNG-heavy names should underperform the refining basket by 5-10% over the next 2-3 quarters.
XOMCVXBPSHEL: Brent Holds as Trump Rejects Iran Peace Overture
Trump's rejection of Iran's truce proposal extends the diplomatic impasse supporting oil's $75-$85 range, removing near-term risk of a breakthrough that would flood markets with Iranian barrels. Shell and BP have captured this tailwind, but the trade now hinges on whether sustained tension can push oil above $90 — driving margin expansion — or whether the base-case range holds and sets up valuation compression.
BPUSOXOM and CVX Up 26-28% YTD — Why the UK Refusing Hormuz Blockade Could Widen Their Lead
The UK's April 12, 2026, refusal to join Trump's Hormuz blockade plan exposes oil majors to extended disruptions in the 20% global oil chokepoint, but XOM and CVX's robust finances and production ramps set up margin gains. YTD stock surges of 26-28% reflect market bets on higher crack spreads, with Middle East assets (20% of output) offset by US shale strength. Bullish stance: Buy supermajors for FCF upside amid geopolitical limbo.
XOMCVXBPStrait of Hormuz Crisis Sparks China Cancellations — XOM and CVX Margins Set to Surge
April 11, 2026, reports detail Hormuz crisis damaging Middle East oil/gas supplies and sparking Chinese order cancellations, tightening global markets. ExxonMobil and Chevron—fortified by $40B+ FCF, low debt, and downstream leverage—stand to gain most from elevated cracks and prices. Bullish: Buy dips for 20-30% FCF upside.
XOMCVXBPSaudi Infrastructure Attacks Squeeze SHEL Margins — LMT Up 30% YTD as Defense Benefits
Attacks on Saudi infrastructure on April 9, 2026, held oil prices higher, pressuring Shell's margins amid Middle East risks while boosting Lockheed Martin's defense prospects. SHEL trades at attractive 6.1x EV/EBITDA with strong FCF, but volatility looms; LMT's 30% YTD gains signal backlog tailwinds. Bullish LMT, hold SHEL.
LMTStrait of Hormuz Blocked: XOM Cuts Q1 Output 6% as Oil Majors Drop 3–5%
Shipping halted in the Strait of Hormuz on April 9, 2026, as Iran imposes terms, with the US prioritizing free passage. Exxon reports 6% Q1 production cuts from related Middle East disruptions; majors' stocks fell 3-5% but YTD gains exceed 20%, backed by $50B+ FCF and low leverage. Bullish setup if oil prices surge on sustained risks.
XOMCVXBPHormuz Blockade Risks 20% Oil Supply Squeeze — XOM, CVX, SHEL Surge
Strait of Hormuz blockade has halted Iraqi oil exports at Basra hub, risking 20% global supply squeeze and $100 oil. XOM, CVX, and SHEL's low-debt profiles and strong FCF position them for explosive margins. Stocks surging 7-16% monthly signal investor bets on profit windfalls.
XOMCVXIran War Drives Record Capital Flight: EEM Down 12% While SPY Gains Safe-Haven Flows
Record bullish positions in EU natural gas futures are spiking volatility amid supply shocks, per Bloomberg, boosting SHEL and BP's LNG trading margins. Both delivered robust FY2025 FCF and returns, with guidance for sustained growth. Bullish on their leverage to Europe's crunch.
BPQatar Tanker Strike Confirmed: XLE, EURN, SHEL Poised to Surge as Gulf Oil Routes Reroute
UKMTO-confirmed tanker strike off Qatar—one projectile unexploded—heightens Gulf of Oman risks, potentially spiking tanker rates and benefiting XLE, EURN, and SHEL. Shell's robust $21.8B FCF and 26% 3-month gains position it strongly, while disruptions could reroute 20% of global oil flows.
XLEEURNSHEL and BP Up 14–16% After Ust-Luga Strike — EU Supply Crunch Has Further to Run
Ukraine's April 7 strike on Russia's Ust-Luga oil port threatens EU supply, potentially boosting crude prices and refining margins for Shell and BP. Both majors showed FY2025 resilience with strong FCF and low leverage, shares up 14-16% in the past month. Bullish stance: Expect margin expansion if disruptions persist.
BPSHEL and BP Up 10-16% Despite Gas Futures Plunge — Why LNG Is Their Shield
European gas futures tumbled on April 8, 2026, post-US-Iran ceasefire, easing supply fears—but SHEL and BP stocks rose 10-16% in the prior month, buoyed by LNG resilience and strong 2025 financials ($21B+ FCF each). Integrated portfolios and low leverage position them for continued outperformance. Bullish: Buy the reversal with 15% upside potential.
BPLNG & SHEL vs. XOM: Who Wins as Iran Ceasefire Crashes Asian Energy Prices
The US-Iran ceasefire on April 8, 2026, is crashing Asian LNG and crude prices, pressuring global suppliers while easing Vietnam's energy security woes. Cheniere and Shell stand out as resilient winners due to contracts and growth, while Exxon faces bigger oil headwinds. Ranked picks favor low-cost, contract-heavy LNG plays.
LNGXOMKMIGulf Conflict Escalation: Mapping the Energy Winners from Middle East Supply Disruption
Gulf conflict escalation threatens Middle East oil supply through the Strait of Hormuz and Red Sea, creating a risk premium that benefits non-Gulf energy producers and LNG exporters. Cheniere Energy and Shell are the top picks for structural LNG upside, while ConocoPhillips, Canadian Natural Resources, and Dorian LPG offer upstream, heavy-oil substitution, and shipping-rate leverage respectively.
LNGCOPCNQAt what oil price level does Gulf conflict risk trigger demand destruction in EM economies?
Gulf conflict escalation creates a geopolitical risk premium benefiting oil producers in the $80–100 Brent range, but sustained prices above $100–110 risk triggering demand destruction in import-dependent emerging markets. EOG Resources and Shell offer the best risk-adjusted positioning, while BP carries the highest combined balance sheet and operational risk.
COPEOGCVX
Shell plc company profile
Overview
Shell plc (LSE:SHEL) is one of the world's largest integrated energy companies, with origins tracing back to 1907 through the merger of Royal Dutch Petroleum Company and Shell Transport and Trading Company. Originally known as Royal Dutch Shell plc, the company simplified its name to Shell plc in January 2022 as part of a corporate restructuring. Headquartered in London, United Kingdom, Shell operates across the entire energy value chain, from oil and gas exploration and production to refining, marketing, and increasingly, renewable energy solutions. The company has evolved from a traditional oil and gas giant into a diversified energy company actively participating in the global energy transition while maintaining its position as a major player in conventional energy markets.
Business
Shell operates as an integrated energy and petrochemical company across five main business segments. The Integrated Gas segment explores for, extracts, and processes natural gas, including the production and marketing of liquefied natural gas (LNG). LNG is natural gas that has been cooled to liquid form for easier storage and transportation, making it a crucial component of global energy trade. This segment also includes gas-to-liquids technology, which converts natural gas into synthetic liquid fuels. The Upstream segment focuses on the exploration and production of crude oil, natural gas, and natural gas liquids from conventional and unconventional sources worldwide. This includes offshore drilling platforms, onshore wells, and oil sands operations. The segment operates upstream and midstream infrastructure to extract hydrocarbons and deliver them to market. Shell's Marketing segment encompasses the retail fuel business through Shell-branded service stations, commercial fuel sales, lubricants, and bitumen products. This consumer-facing business includes mobility solutions and is expanding into electric vehicle charging infrastructure as transportation electrifies. The Chemicals and Products segment operates refineries that process crude oil into gasoline, diesel, aviation fuel, and marine fuel. It also produces petrochemicals including base chemicals like ethylene and propylene, which serve as building blocks for plastics, synthetic materials, and other industrial products. The segment includes intermediate chemicals such as solvents and detergent alcohols. The Renewables and Energy Solutions segment represents Shell's newest business area, focusing on renewable electricity generation through wind and solar projects, hydrogen production, electric vehicle charging networks, and carbon capture and storage technologies. While still a smaller portion of overall revenue, this segment reflects Shell's strategic pivot toward lower-carbon energy sources as global energy systems transition away from fossil fuels.
Revenue model
Shell generates revenue through multiple interconnected business models across the energy value chain. The company primarily makes money through product sales of crude oil, natural gas, refined petroleum products, and petrochemicals to industrial customers, utilities, and consumers. The Upstream segment sells crude oil and natural gas to third parties and to Shell's own downstream operations. The Integrated Gas business sells LNG and natural gas to utilities, industrial customers, and other energy companies globally. The Marketing segment operates on both wholesale and retail models, selling refined products like gasoline and diesel through Shell-branded retail stations and direct sales to commercial customers. The company also generates revenue through trading and optimization activities, leveraging its global scale and market intelligence to profit from price differentials and supply-demand imbalances across different markets and time periods. Shell's integrated business model creates synergies where upstream production feeds downstream refining operations, which in turn supply the marketing network. This vertical integration provides some protection against commodity price volatility, as margins in one segment may offset weakness in another. Several factors significantly impact Shell's profitability. Commodity price cycles for oil, gas, and refined products directly affect revenues and margins. Higher oil and gas prices generally boost upstream earnings but can pressure downstream refining margins if product prices don't rise proportionally. Refining crack spreads - the difference between crude oil costs and refined product prices - are crucial for the Products segment. Global economic growth drives energy demand, while geopolitical events can disrupt supply chains and create price volatility. Currency fluctuations affect international operations, and regulatory changes around carbon pricing, environmental standards, and energy transition policies increasingly influence long-term investment decisions and operating costs. Competition from renewable energy and changing consumer preferences toward electric vehicles pose longer-term challenges to traditional fossil fuel demand.
Competitive moat
Shell's competitive moat stems from several interconnected advantages, though the strength of these moats faces increasing challenges from the energy transition. The company's integrated global scale provides significant advantages through operational synergies, risk diversification, and the ability to optimize across the entire value chain. Shell's extensive LNG portfolio and trading capabilities create a particularly strong moat, as LNG requires massive capital investments, long-term contracts, and specialized infrastructure that few competitors can replicate at Shell's scale. The company's deep-water exploration and production expertise in technically challenging environments like Brazil's pre-salt fields and the Gulf of Mexico creates barriers to entry for smaller competitors. Shell's global trading and supply chain optimization capabilities, built over decades, provide ongoing competitive advantages through superior market intelligence and logistical flexibility. However, Shell's traditional moats face significant long-term challenges. The energy transition toward renewables threatens demand for fossil fuels over the coming decades, potentially eroding the value of Shell's upstream assets and refining infrastructure. Electric vehicle adoption poses a direct threat to gasoline demand and the retail fuel business. Renewable energy technologies are becoming increasingly cost-competitive and don't require the same geological expertise or capital-intensive infrastructure that historically protected traditional energy companies. Shell is attempting to build new moats in low-carbon energy solutions, leveraging its project management capabilities, customer relationships, and balance sheet strength to compete in renewable electricity, hydrogen, and carbon capture technologies. However, these new energy markets are highly competitive with many well-funded participants, and Shell lacks the same natural advantages it enjoys in traditional energy markets. The company's ultimate competitive position will depend on how successfully it can transition its capabilities while maintaining profitability during the energy transition period.
Risks & safety
Shell maintains a relatively strong financial position with moderate safety margins, though commodity price volatility creates inherent risks. **Overall Assessment:** Financially stable with strong cash generation capabilities but exposed to commodity price cycles and energy transition risks. **Cash and Debt Position:** - Cash and short-term investments: $35.6 billion (Q1 2025) - Debt-to-equity ratio: 0.43 (Q1 2025), indicating moderate leverage - Strong free cash flow generation: $5.5 billion (Q1 2025), $35.1 billion (FY 2024) - No immediate solvency concerns given cash position and operational cash flow **Valuation Metrics:** - P/E ratio: 12.1 (Q1 2025), suggesting reasonable valuation relative to earnings - EV/EBITDA: 8.3 (Q1 2025), within typical range for integrated energy companies - Price-to-book: 1.29, indicating stock trades near book value - Current ratio: 1.32, adequate short-term liquidity coverage **Other Considerations:** - Significant capital expenditure requirements ($22-25 billion annually) for maintaining operations - Commodity price sensitivity creates earnings volatility - Long-term energy transition risks to asset values and cash flows - Strong dividend history but payments depend on commodity prices and cash flow generation
Recent development
Over the past few years, Shell has undergone significant strategic transformation focused on portfolio optimization and energy transition. The company has been actively high-grading its asset portfolio through strategic divestments, including the completed sales of its Singapore Energy and Chemicals Park, onshore Nigeria operations, and Shell Pakistan, while making selective acquisitions like Pavilion Energy to strengthen its LNG capabilities. Shell has made substantial operational efficiency improvements, delivering $1.7 billion of its targeted $2-3 billion in structural cost reductions through organizational simplification, workforce optimization, and supply chain improvements. The company has focused on improving asset reliability and controllable availability, achieving over 98% availability rates in key assets like Norway, Nigeria offshore, and Kazakhstan operations. In terms of growth investments, Shell has sanctioned several major projects including final investment decisions for Gato do Mato in Brazil, Northern Lights carbon capture and storage Phase 2 in Norway, and brought online new production from projects like Penguins FPSO in the UK North Sea and Dover in the Gulf of America. The company is nearing completion of LNG Canada Phase 1, with first cargos expected in mid-2025. Shell's energy transition strategy has evolved to become more selective and value-focused. While the company paused construction of its Rotterdam biofuels plant, it has made targeted investments in areas where it sees competitive advantages, including biogas through the Nature Energy acquisition, carbon capture and storage projects, and selective hydrogen investments. The company has maintained its commitment to consistent shareholder returns, completing 12 consecutive quarters of share buybacks exceeding $3 billion each, while increasing its dividend by approximately 20% over recent years. The company has also strengthened its LNG portfolio positioning for expected market growth, targeting 20-30% LNG volume growth by the end of the decade while maintaining disciplined capital allocation focused on projects that exceed hurdle rates and deliver free cash flow per share growth.
SHEL company profile · for informational purposes only — not investment advice.
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