Shell plc (SHEL) Financial Ratios
28 years of historical data (1998–2025) · Energy · Oil & Gas Integrated
EV/EBITDA
↑
7.69
↑+60% vs avg
5yr avg: 4.80
30Y Low2.8·High45.8
P/FCF
↑
11.31
↑+67% vs avg
5yr avg: 6.79
30Y Low4.6·High194.8
P/B Ratio
↑
1.48
↑+32% vs avg
5yr avg: 1.12
30Y Low0.9·High12.1
ROE
↓
10.1%
↑-21% vs avg
5yr avg: 12.8%
30Y Low-12%·High27%
Debt/EBITDA
↑
2.50
↑+50% vs avg
5yr avg: 1.66
30Y Low0.2·High3.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SHEL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Shell plc trades at 14.5x earnings, 46% above its 5-year average of 9.9x, sitting at the 58th percentile of its historical range. Compared to the Energy sector median P/E of 16.8x, the stock trades at a discount of 14%. On a free-cash-flow basis, the stock trades at 11.3x P/FCF, 67% above the 5-year average of 6.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $246.8B | $218.6B | $199.3B | $223.7B | $211.0B | $169.4B | $137.0B | $239.2B | $243.2B | $276.8B | $214.6B |
| Enterprise Value | $321.2B | $292.9B | $237.4B | $266.6B | $254.6B | $221.5B | $213.2B | $317.6B | $293.3B | $342.2B | $287.9B |
| P/E Ratio → | 14.48 | 12.21 | 12.38 | 11.54 | 4.99 | 8.44 | — | 15.12 | 10.41 | 21.38 | 46.88 |
| P/S Ratio | 0.92 | 0.82 | 0.70 | 0.71 | 0.55 | 0.65 | 0.76 | 0.69 | 0.63 | 0.91 | 0.92 |
| P/B Ratio | 1.48 | 1.25 | 1.11 | 1.19 | 1.10 | 0.97 | 0.86 | 1.26 | 1.20 | 1.40 | 1.14 |
| P/FCF | 11.31 | 10.02 | 5.68 | 7.17 | 4.61 | 6.49 | 7.82 | 12.46 | 8.09 | 18.70 | — |
| P/OCF | 6.05 | 5.36 | 3.65 | 4.13 | 3.08 | 3.76 | 4.02 | 5.67 | 4.58 | 7.76 | 10.41 |
P/E links to full P/E history page with 30-year chart
SHEL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Shell plc's enterprise value stands at 7.7x EBITDA, 60% above its 5-year average of 4.8x. This is roughly in line with the Energy sector median of 7.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.09 | 0.83 | 0.84 | 0.67 | 0.85 | 1.18 | 0.92 | 0.76 | 1.12 | 1.23 |
| EV / EBITDA | 7.69 | 7.01 | 4.17 | 4.95 | 2.98 | 4.88 | — | 6.61 | 5.55 | 8.20 | 10.52 |
| EV / EBIT | 16.41 | 9.51 | 6.83 | 7.16 | 3.63 | 6.63 | — | 10.57 | 7.48 | 15.51 | 31.62 |
| EV / FCF | — | 13.42 | 6.77 | 8.54 | 5.56 | 8.49 | 12.17 | 16.54 | 9.75 | 23.11 | — |
SHEL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Shell plc earns an operating margin of 7.3%, below the Energy sector average of 14.4%. Operating margins have compressed from 9.7% to 7.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 10.1% is modest. ROIC of 6.3% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.7% | 16.7% | 16.2% | 14.9% | 20.7% | 13.7% | -7.2% | 10.7% | 11.6% | 9.5% | 7.5% |
| Operating Margin | 7.3% | 7.3% | 10.5% | 9.7% | 16.6% | 8.5% | -14.1% | 6.7% | 8.0% | 5.1% | 1.0% |
| Net Profit Margin | 6.7% | 6.7% | 5.7% | 6.1% | 11.1% | 7.7% | -12.0% | 4.6% | 6.0% | 4.3% | 2.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 8.7% | 10.2% | 23.0% | 12.0% | -12.4% | 8.1% | 11.7% | 6.7% | 2.6% |
| ROA | 4.7% | 4.7% | 4.1% | 4.6% | 10.0% | 5.1% | -5.5% | 3.9% | 5.8% | 3.2% | 1.2% |
| ROIC | 6.3% | 6.3% | 10.0% | 9.9% | 20.4% | 7.2% | -7.6% | 6.6% | 9.1% | 4.4% | 0.8% |
| ROCE | 6.7% | 6.7% | 9.9% | 9.7% | 20.0% | 7.3% | -8.1% | 7.1% | 9.6% | 4.7% | 0.8% |
SHEL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Shell plc carries a Debt/EBITDA ratio of 2.5x, which is moderately leveraged (5% above the sector average of 2.4x). Net debt stands at $74.4B ($104.6B total debt minus $30.2B cash). Interest coverage of 6.6x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.43 | 0.43 | 0.44 | 0.51 | 0.68 | 0.51 | 0.38 | 0.43 | 0.49 |
| Debt / EBITDA | 2.50 | 2.50 | 1.36 | 1.52 | 0.98 | 1.96 | — | 2.01 | 1.45 | 2.05 | 3.38 |
| Net Debt / Equity | — | 0.42 | 0.21 | 0.23 | 0.23 | 0.30 | 0.48 | 0.41 | 0.25 | 0.33 | 0.39 |
| Net Debt / EBITDA | 1.78 | 1.78 | 0.67 | 0.80 | 0.51 | 1.15 | — | 1.63 | 0.95 | 1.57 | 2.68 |
| Debt / FCF | — | 3.41 | 1.08 | 1.37 | 0.95 | 2.00 | 4.35 | 4.08 | 1.67 | 4.41 | — |
| Interest Coverage | 6.58 | 6.58 | 7.16 | 8.05 | 13.12 | 9.27 | -5.41 | 6.59 | 10.96 | 5.62 | 2.60 |
SHEL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.30x means Shell plc can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.40x to 1.30x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.30 | 1.30 | 1.35 | 1.40 | 1.37 | 1.35 | 1.25 | 1.16 | 1.25 | 1.20 | 1.17 |
| Quick Ratio | 1.03 | 1.03 | 1.10 | 1.13 | 1.10 | 1.08 | 0.98 | 0.86 | 0.98 | 0.88 | 0.88 |
| Cash Ratio | 0.37 | 0.37 | 0.41 | 0.41 | 0.33 | 0.39 | 0.43 | 0.23 | 0.34 | 0.25 | 0.26 |
| Asset Turnover | — | 0.72 | 0.73 | 0.78 | 0.86 | 0.65 | 0.48 | 0.85 | 0.97 | 0.75 | 0.57 |
| Inventory Turnover | 10.03 | 10.03 | 10.18 | 10.35 | 9.49 | 8.93 | 9.95 | 12.80 | 16.27 | 10.96 | 9.92 |
| Days Sales Outstanding | — | 60.85 | 40.09 | 42.03 | 37.85 | 48.78 | 44.41 | 32.20 | 25.88 | 36.74 | 40.26 |
SHEL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Shell plc returns 9.4% to shareholders annually — split between a 3.3% dividend yield and 6.2% buyback yield. A payout ratio of 47.5% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.3% | 3.9% | 4.3% | 3.8% | 3.5% | 3.7% | 5.4% | 6.4% | 6.4% | 3.9% | 4.5% |
| Payout Ratio | 47.5% | 47.5% | 53.9% | 43.4% | 17.5% | 31.1% | — | 95.9% | 67.1% | 83.8% | 211.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 8.2% | 8.1% | 8.7% | 20.1% | 11.8% | — | 6.6% | 9.6% | 4.7% | 2.1% |
| FCF Yield | 8.8% | 10.0% | 17.6% | 13.9% | 21.7% | 15.4% | 12.8% | 8.0% | 12.4% | 5.3% | — |
| Buyback Yield | 6.2% | 7.0% | 7.4% | 6.9% | 9.0% | 1.9% | 1.5% | 4.7% | 2.1% | 0.3% | 0.1% |
| Total Shareholder Yield | 9.4% | 10.8% | 11.7% | 10.7% | 12.5% | 5.6% | 6.9% | 11.1% | 8.5% | 4.2% | 4.6% |
| Shares Outstanding | — | $3.0B | $3.2B | $3.4B | $3.7B | $3.9B | $3.9B | $4.1B | $4.2B | $4.1B | $3.9B |
Peer Comparison
Compare SHEL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SHELYou | $247B | 14.5 | 7.7 | 11.3 | 16.7% | 7.3% | 10.1% | 6.3% | 2.5 |
 XOM | $630B | 22.2 | 11.1 | 26.7 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
 CVX | $369B | 27.9 | 11.0 | 22.3 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
 BP | $117B | 2187.7 | 4.9 | 10.3 | 17.7% | 8.2% | 0.1% | 9.8% | 2.5 |
 TTE | $200B | 15.6 | 7.0 | 18.5 | 28.4% | 10.9% | 11.0% | 9.9% | 1.8 |
 E | $79B | 30.6 | 7.7 | 15.2 | 5.5% | 7.3% | 4.6% | 5.2% | 3.0 |
 COP | $145B | 18.7 | 7.0 | 8.6 | 24.6% | 19.6% | 12.4% | 10.4% | 1.0 |
 EOG | $72B | 14.8 | 6.1 | 18.4 | 68.1% | 35.1% | 16.8% | 19.1% | 0.7 |
 OXY | $55B | 34.2 | 6.7 | 13.3 | 33.8% | 17.2% | 6.7% | 4.7% | 2.1 |
 MPC | $72B | 18.5 | 11.4 | 15.2 | 7.5% | 4.3% | 16.7% | 8.3% | 3.8 |
 PSX | $69B | 15.9 | 13.3 | 25.2 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
| Energy Median | — | 16.8 | 7.9 | 13.3 | 33.2% | 14.4% | 8.5% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
Full SHEL Stock Analysis
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Bull case, key risks, Wall St analyst verdict, and what council investors are saying — updated daily.
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DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare SHEL vs XOM
Side-by-side business, growth, and profitability comparison vs Exxon Mobil Corporation.
Start ComparisonSHEL — Frequently Asked Questions
Quick answers to the most common questions about buying SHEL stock.
What is Shell plc's P/E ratio?
Shell plc's current P/E ratio is 14.5x. The historical average is 23.1x. This places it at the 58th percentile of its historical range.
What is Shell plc's EV/EBITDA?
Shell plc's current EV/EBITDA is 7.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.0x.
What is Shell plc's ROE?
Shell plc's return on equity (ROE) is 10.1%. The historical average is 12.9%.
Is SHEL stock overvalued?
Based on historical data, Shell plc is trading at a P/E of 14.5x. This is at the 58th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Shell plc's dividend yield?
Shell plc's current dividend yield is 3.27% with a payout ratio of 47.5%.
What are Shell plc's profit margins?
Shell plc has 16.7% gross margin and 7.3% operating margin.
How much debt does Shell plc have?
Shell plc's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.