Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) (SHEL) Stock
Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) (SHEL) is a Energy stock trading at $94.54 (as of 2026-09-18). Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Shell plc is an energy and petrochemical company that explores for and produces crude oil, natural gas, and natural gas liquids, and markets and transports these products. It operates through segments including Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions, serving customers across multiple regions worldwide.
Understand Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares): how it makes money
Shell operates energy and petrochemical businesses, exploring and producing oil, natural gas, and natural gas liquids, making fuels and chemical products, and marketing and trading energy including LNG. Its model spans upstream production, gas infrastructure, mobility and lubricants, and renewables and energy solutions, so earnings reflect both commodity prices and value-chain execution.
Shell's profit model combines commodity-exposed upstream production with trading, infrastructure, marketing, and customer businesses, so results depend on both energy prices and the value captured across the chain.
Business quality (Weak): Weak, with quarterly revenue of $65.4B, down 12% YoY.
Bull case
Returns remain shareholder-focused: Management said, "Shareholder returns remain prioritized through a 4% dividend increase and $3.5 billion buyback." Continued cash returns can support the shareholder case even when operating conditions are mixed.
Customer businesses are strengthening: Management said, "Mobility and lubricants delivered their best-ever results in 2025." Stronger customer-facing performance could make earnings less reliant on upstream production.
Bear case
Chemicals face shutdown pressure: Management warned, "Chemicals may require unit shutdowns if depressed margins persist." Shutdowns could reduce operating capacity and earnings in that business.
Reserves leave a future gap: Management said, "Reserve life fell to 7.8 years, leaving a resource gap beyond 2030." Replacing those resources could require substantial development activity to sustain longer-term production.
Kazakhstan disputes delay investment: Management said, "Legal disputes in Kazakhstan have paused further investment decisions." Delayed decisions can slow project development and limit future growth from that area.
Valuation — source: SEC EDGAR (first-party)
Price
$94.54
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)
$266.89B
Net Margin
6.8%
Return on Equity
10.4%
Current Ratio
1.30
Revenue Growth (YoY)
-3.4%
EPS Growth (YoY)
380.0%
FCF Growth (YoY)
-48.3%
Valuation vs Sector & Industry
Sector P/E (Energy)
15.8
Industry P/E (Petroleum & Natural Gas)
17.0
Company
Sector
Energy
Industry
Petroleum & Natural Gas
CEO
Wael Sawan
Employees
96,000
Country
GB
IPO Date
1994-10-31
Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) earnings call transcripts