Shell plc (SHELL) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Shell plc €40.56, price €42.40, upside -4.3%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Shell plc
SHELL · ASNeutralThe stock looks roughly fairly valued with average quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range €13.56 – €42.73 · fair‑value band €30.42 – €52.14 · the €42.40 price screens above the €40.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.
Company profile
Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas. It operates through the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions.
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Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas. It operates through the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions. The company explores for and extracts natural gas to produce liquefied natural gas or convert it into gas-to-liquids (GTL) fuels and other products; explores for and extracts crude oil, natural gas, and natural gas liquids; and operates marketing and transportation of oil, gas, and liquids, supported by the infrastructure required to deliver them to market or to process them within Shell's chemical manufacturing plants and refineries. It is also involved in marketing, which includes mobility, lubricants, and sectors focused on decarbonization; operates a retail network, including electric vehicle charging, convenience retail, and the wholesale commercial fuels business for transport and industry; sells products for road transport and machinery in manufacturing, mining, power generation, agriculture, and construction; and provides low-carbon energy solutions, such as biofuels, to a broad range of commercial customers, including those in the aviation, marine, and agriculture sectors. In addition, the company offers chemicals and products, including chemicals manufacturing plants with their own marketing network, and refineries that turn crude oil and other feedstocks into a range of oil products, which are moved and marketed around the world for domestic, industrial, and transport use; and operates a pipeline business, trading, and optimization of crude oil, oil products, and petrochemicals. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1897 and is headquartered in London, United Kingdom.
Stock analysis
Shell plc (SHELL) currently trades at €42.40, while our model-based Fair Value estimate is €40.56, so the stock looks roughly fairly valued today (gap 4.5%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of €52.13 per share, and 15 of the 24 models we run sit above the €42.40 price.
Bear case: the Dividend Discount group reads lowest at €14.69, and 9 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: €30.42 (bear) to €52.14 (bull), the price of €42.40 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Energy sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Shell plc reported revenue of $273B in FY2025 versus $262B in FY2021, a compound +1.1%/yr. Reported net income was $18.2B in FY2025, compounding −2.4%/yr from FY2021.
Key figures
Market cap €252B · P/E ratio 15.0 · P/S ratio 1.00 · EPS (TTM) €2.82 · Dividend yield 3.5% · Net margin 6.7% · Return on equity 10.7% · Return on assets (EBIT) 9.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −13% fair-value upside, at −4%, SHELL screens cheaper than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 78
Revenue & earnings trend
Growth Forecast
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Recent news
- What Is Shell (LSE:SHEL) Facing With A $5.2 Billion Fine And LNG Bet?
- Shell Greenlights LNG Canada Phase 2, Doubling Export Capacity
Compare Shell plc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 45 stocks
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Energy
- Undervalued stocks: Dutch Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Saudi Arabian Oil Company 2222 | 25.28 SAR | 20.14 SAR | −20% |
| Exxon Mobil Corporation XOM | $162.75 | $90.40 | −44% |
| Chevron Corporation CVX | $204.38 | $92.05 | −55% |
| PetroChina Company 601857 | ¥11.21 | ¥15.47 | +38% |
| TotalEnergies SE TTE | €74.51 | €70.97 | −5% |
| Petróleo Brasileiro S.A PBR | $20.37 | $28.71 | +41% |
| Equinor ASA EQNR | kr 398.40 | kr 345.87 | −13% |
| China Petroleum & Chemical Corporation 600028 | ¥5.28 | ¥3.74 | −29% |
| Suncor Energy Inc SU | $67.87 | $70.17 | +3% |
| Imperial Oil Limited IMO | $122.34 | $94.61 | −23% |
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