Shell (SHEL) EV to CFO (2010 - 2026)
Shell's (SHEL) EV to CFO was 4.05 for Q3 2026, down 25.2% from 5.42 a year earlier but up 10.2% from the prior quarter.
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Analysis
Shell (SHEL) EV to CFO (2010 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Shell's EV to CFO came in at 2.27, down 16.1% year-over-year; for FY2025, it was 3.98, up 51.5% from FY2024.
- By year, EV to CFO came in at 2.63 in FY2024 (-19.3%), 3.25 in FY2023 (+38.8%), 2.34 in FY2022 (-21.6%) and 2.99 in FY2021 (-5.9%).
- Five-year quarterly EV to CFO spans a low of 2.63 in Q4 2024 and a high of 6.12 in Q1 2026.
- Year over year, EV to CFO gained in five of the last eight quarters, with growth averaging 11.5%.
- The high point for year-over-year EV to CFO in five years was Q1 2026 (growth of 63.7%); the low point was Q3 2026 (a decline of 25.2%).
- Per Business Quant data, the three quarters before Q3 2026 came in at 3.68 (Q2 2026), 6.12 (Q1 2026) and 3.98 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 678.46 Bn | 636.61 Bn | - |
| 2 | Shell | 572.35 Bn | 454.96 Bn | - |
| 3 | Chevron | 410.31 Bn | 377.35 Bn | 31.26 Bn |
| 4 | TotalEnergies SE | 190.98 Bn | 74.26 Bn | - |
| 5 | Eni Spa | 166.41 Bn | 117.77 Bn | - |
| 6 | Conocophillips | 163.94 Bn | 136.65 Bn | 12.81 Bn |
| 7 | Equinor Asa | 104.52 Bn | 35.38 Bn | 12.28 Bn |
| 8 | Canadian Natural Resources | 100.46 Bn | 98.53 Bn | - |
| 9 | Phillips 66 | 99.08 Bn | 82.87 Bn | 10.69 Bn |
| 10 | Suncor Energy | 82.03 Bn | 74.17 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.05 |
| Jun 30, 2026 | 3.68 |
| Mar 31, 2026 | 6.12 |
| Dec 31, 2025 | 3.98 |
| Sep 30, 2025 | 5.42 |
| Jun 30, 2025 | 3.55 |
| Mar 31, 2025 | 3.74 |
| Dec 31, 2024 | 2.63 |
| Sep 30, 2024 | 4.77 |
| Jun 30, 2024 | 3.82 |
| Mar 31, 2024 | 3.36 |
| Dec 31, 2023 | 3.25 |
| Sep 30, 2023 | 3.38 |
| Jun 30, 2023 | 2.76 |
| Mar 31, 2023 | 2.67 |
| Sep 30, 2022 | 2.97 |
| Jun 30, 2022 | 2.91 |
| Mar 31, 2022 | 3.45 |
| Dec 31, 2021 | 2.99 |
| Sep 30, 2021 | 3.21 |
API Access
Shell EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=SHEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "SHEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=SHEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();