Shell Plc - ADR (Representing - Ordinary Shares)
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+ FollowMarket Cap$253.96B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 2026 financial & cash delivery (core “headline”)
- Shell reported ~$10.8bn adjusted earnings and ~$21bn cash flow from operations in Q3.
- Management framed results as achieved despite high commodity-price volatility and ongoing operational disruptions (notably in Integrated Gas).
- Investment case message: performance + portfolio actions + trading/optimization capabilities are working together to convert volatility into cash.
Operational momentum across segments (with some known headwinds)
- Upstream: “Exceptional operational performance”; Gulf of America hit highest monthly production in 2+ decades (in August).
- Integrated Gas: strong results supported by advantaged LNG trading/optimization, but Pearl (Qatar) disruption is expected to create headwinds into Q4 (and affects throughput/product movement; full normalization implied later).
- Products/Refining: refining strength with utilization >100% excluding Rheinland (Rheinland impacted by low Rhine water levels); company emphasized agility in a dislocated market.
- Chemicals: free cash flow positive for a second quarter in a row; strategy focus remains value unlocking.
Portfolio transformation: growth + high-grading, with major catalysts
- ARC Resources acquisition completed (Sept): adds/strengthens Canada position with ~370,000 boe/d; management highlighted longevity + advantaged, lower-intensity resource synergy.
- LNG Canada Phase 2 Final Investment Decision (announced last month): expansion doubles liquefaction capacity; Shell receives ~6 million tonnes per annum additional LNG volumes.
- Tri Star Energy acquisition (U.S.): more than doubles company-owned convenience retail sites—expanding marketing/retail footprint.
- Ongoing high-grading example mentioned: divestment/sale progress across geographies (e.g., Aphrodite gas asset; Netherlands onshore low-carbon asset sale referenced; other completions/asset moves).
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$319.40
222.3% upside
Current Fair Value
222.3% upsideUndervalued by 222.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $253.96 Billion |
|---|---|
| Enterprise Value | $292.99 Billion |
| Annual dividend | $3.02 |
| Dividend yield | 3.03% |
| Earnings per Share | $6.06 |
| Beta | -0.22 |
| Outstanding Shares | 2,802,000,000 |
Return
| Return on Equity | 16.79% |
|---|---|
| Return on Assets | 7.92% |
| Return on Invested Capital | 15.83% |
Valuation & Multiples
| P/E Ratio | 8.53 |
|---|---|
| PEG | 6.57 |
| Price to Sales | 0.86 |
| Price to Book Ratio | 1.42 |
| Enterprise Value to Revenue | 0.91 |
| Enterprise Value to EBIT | 5.92 |
| Enterprise Value to Net Income | 8 |
| Total Debt to Enterprise | 0.26 |
| Debt to Equity | 0.38 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$3.54
Consensus analyst estimateRevenue Estimate
$93.25 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 4, 2027
EPS Estimate
$3.49
Consensus analyst estimateRevenue Estimate
$100.68 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 57.39% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.64%▼ 12.50% |
|---|---|
| Total Invested | $1.71B▼ 94.05% |
| Investors Holding | 702▼ 884.00% |
About Shell Plc
87,000 employees
CEO: Ben van Beurden
Royal Dutch Shell plc is a global group of energy and petrochemical companies with more than 80,000 employees in more than 70 countries. It uses advanced technologies and take an innovative approach to help build a sustainable energy future.