Shell Valuation Multiples

Shell Overview

About Shell

Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2024, it produced 1.5 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At year-end 2024, reserves stood at 9.6 billion barrels of oil equivalent, 48% of which consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with a capacity of 1.6 mmb/d located in the Americas, Asia, and Europe, and sells about 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

Founded

2002

HQ

Employees

96.0K

Website

shell.com

Sectors

Energy ProductionOil & Gas

Financials (LTM)

Revenue: $268B

EBITDA: $56B

EV

$281B

Valuation Multiples

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Shell Financials

Shell reported last 12-month revenue of $268B and EBITDA of $56B.

In the same LTM period, Shell generated $90B in gross profit, $56B in EBITDA, and $19B in net income.

Shell P&L

In the most recent fiscal year, Shell reported revenue of $284B and EBITDA of $57B.

Shell expects next 12-month revenue of XXX and NTM EBITDA of XXX

Shell Stock Performance

Shell has current market cap of $236B, and enterprise value of $281B.

Shell's stock price is $41.83.

Shell Valuation Multiples

Shell trades at 1.1x EV/Revenue multiple, and 5.0x EV/EBITDA.

Shell Financial Valuation Multiples

As of March 14, 2026, Shell has market cap of $236B and EV of $281B.

Equity research analysts estimate Shell's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Shell has a P/E ratio of 12.7x.

Shell Margins & Growth Rates

Shell's revenue in the last 12 month grew by 2%.

Shell's revenue per employee in the last FY averaged $2.8M.

Shell's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shell's rule of X is 26% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Shell Public Comps

See public comps and valuation multiples for other Energy Production and Oil & Gas comps.

Shell M&A Activity

Shell acquired XXX companies to date.

Last acquisition by Shell was on XXXXXXXX, XXXXX. Shell acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Shell Investment Activity

Shell invested in XXX companies to date.

Shell made its latest investment on XXXXXXXX, XXXXX. Shell invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).