Shell Management
Management criteria checks 2/4
Shell's CEO is Wael Sawan, appointed in Jan 2023, has a tenure of 3.5 years. total yearly compensation is $18.54M, comprised of 11.2% salary and 88.8% bonuses, including company stock and options. directly owns 0.013% of the company’s shares, worth £21.23M. The average tenure of the management team and the board of directors is 3 years and 3.9 years respectively.
Key information
Wael Sawan
Chief executive officer
US$18.5m
Total compensation
| CEO salary percentage | 11.16% |
| CEO tenure | 3.5yrs |
| CEO ownership | 0.01% |
| Management average tenure | 3yrs |
| Board average tenure | 3.9yrs |
Recent management updates
Recent updates
Narrative Update • Jul 06
SHEL: Future Returns Will Reflect ARC Deal And Upstream Portfolio Reshaping
Analysts have adjusted Shell's fair value estimate down by about £1 to £37.91, reflecting slightly lower consolidated price targets as some firms reduced their Shell targets in light of sector-wide oil major adjustments and recent rating changes. Analyst Commentary Recent research on Shell highlights a mix of optimism and caution, with adjustments to price targets in multiple currencies and fresh views on the impact of the ARC Resources acquisition and sector wide oil major repricing.Narrative Update • Jun 22
SHEL: Future Returns Will Reflect ARC Deal And Integrated Gas Expansion
Shell's analyst price target is nudging higher by about £0.11 per share as analysts factor in the ARC Resources acquisition, reflecting updated assumptions around integrated gas earnings, cash flow, and medium term upstream visibility, despite some offsetting target cuts from more cautious houses. Analyst Commentary Recent research updates on Shell present a split picture, with some analysts adjusting targets higher after the ARC Resources acquisition and others trimming their numbers or downgrading the stock.Analysis Article • Jun 17
Shell (LSE:SHEL) Stock Could Be 14.5% Undervalued After Annual Results
Shell (LSE:SHEL) recently drew investor attention after its latest annual figures showed revenue of $267.3b and net income of $18.8b, prompting fresh interest in how the stock’s recent performance compares with its longer term record. See our latest analysis for Shell. Despite the latest figures, Shell’s share price has eased in the short term, with the stock down 6.3% over the past week and 12.3% over 90 days. The 1 year total shareholder return of 18.2% points to stronger, long term...Narrative Update • Jun 07
SHEL: Future Returns Will Reflect ARC Deal And Middle East Risk
Shell's analyst price target edges higher to about £39 from about £38, as analysts factor the ARC Resources acquisition, revised commodity assumptions, and updated earnings and cash flow estimates into their models. Analyst Commentary Recent research points to a mixed but generally constructive reassessment of Shell, with several firms adjusting price targets and ratings as they update models for the ARC Resources acquisition and revised commodity assumptions.Narrative Update • May 21
SHEL: Future Returns Will Reflect Middle East Risk Driven Cash Flows
Shell's analyst fair value estimate has increased by about £1.15 per share as analysts factor in higher cash flow expectations, modestly stronger revenue and margins, and updated P/E assumptions following recent price target changes and views on the ARC Resources deal. Analyst Commentary Recent research on Shell presents a mixed picture, with a cluster of higher price targets and rating upgrades sitting alongside fresh downgrades and trimmed targets.Narrative Update • May 03
SHEL: Future Returns Will Reflect Middle East Risk Driven Cash Flows
Shell's analyst price target has been adjusted slightly lower to £37.02 from £37.17, as analysts weigh mixed rating actions and price target changes against updated assumptions for margins and future P/E levels. Analyst Commentary Recent research on Shell shows a split tape, with several firms lifting price targets while others turn more cautious or trim estimates.Narrative Update • Apr 18
SHEL: Future Returns Will Reflect Middle East Supply Risk Premiums
Shell’s analyst fair value estimate has been revised higher from £34.65 to £37.17, as analysts factor in updated commodity price assumptions, refined revenue growth expectations, and slightly higher margin and P/E inputs following a mix of recent target hikes and downgrades across the Street. Analyst Commentary Recent research on Shell has been active, with several firms revising price targets and a mix of upgrades and downgrades.
New Narrative • Apr 15
Deepwater And LNG Expansion Will Reshape Earnings Power Over The Next Decade
Catalysts About Shell Shell is a large integrated energy company involved in oil and gas production, liquefied natural gas, refining, chemicals, power and low carbon energy solutions. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 02
SHEL: Future Returns Will Reflect LNG Disruptions And Middle East Supply Risks
Shell's updated analyst price target has moved higher to £34.65 from £32.62, as analysts factor in revised oil and gas price assumptions, tighter projected crude balances linked to Middle East supply risks, and a slightly higher future P/E multiple, offset in part by more modest profit margin expectations. Analyst Commentary Recent research on Shell shows a mix of optimism and caution, with several firms adjusting price targets in response to commodity assumptions, geopolitical risks and company specific execution.
New Narrative • Apr 01
LNG Expansion And Aggressive Buybacks Will Increase Risk To Future Earnings Quality
Catalysts About Shell Shell is a large integrated energy company engaged in exploration, production, LNG, refining, chemicals, marketing and low carbon energy solutions. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 18
SHEL: Future Returns Will Reflect LNG Exposure And Geopolitical Supply Risks
Shell's analyst price target has risen in the model as fair value moved from £31.76 to £32.62, with analysts pointing to higher oil and gas price forecasts, tighter expected crude balances, and LNG growth assumptions as key drivers behind recent upward target revisions across the stock. Analyst Commentary Recent research paints a mixed picture for Shell, with several price target increases alongside a few trims and a downgrade.Narrative Update • Mar 04
SHEL: Future Returns Will Balance LNG Expansion With Cost Discipline And Asset Sales
Our analyst fair value estimate for Shell edges up from £30.96 to £31.76. This reflects a series of higher Street price targets in the £2,950 to £3,600 range, as analysts point to valuation support for integrated energy names and company specific drivers such as cost discipline, higher shareholder returns and LNG growth expectations.Narrative Update • Feb 18
SHEL: Future Returns Will Balance LNG Ambitions With Refining And Asset Sales
Analysts have trimmed their average price target for Shell by about £0.07. This reflects slightly higher discount rate assumptions, a modestly lower fair value estimate, and updated views on growth, margins and future P/E after a mix of recent target cuts, raises and rating changes across the Street.Narrative Update • Jan 22
SHEL: Future Returns Will Reflect LNG Strength And Refining Cash Generation
Our Shell fair value estimate edges up to €31.04 from €31.03 as analysts lift price targets across US dollar and GBp lines, pointing to expectations for resilient refining conditions, disciplined capital allocation and LNG driven growth targets, even as views on crude and valuation remain mixed. Analyst Commentary Bullish Takeaways Bullish analysts lifting US dollar and GBp targets point to confidence in Shell's ability to keep capital allocation disciplined, with a focus on cost control and shareholder returns that they view as supportive for equity value.Narrative Update • Jan 08
SHEL: Future Returns Will Reflect Resilient Cash Flow And Shareholder Distributions
Our updated view on Shell reflects a small trim in fair value to €31.03 from €31.31, as analysts balance slightly softer growth and margin assumptions with higher price targets associated with resilient cash generation, tighter refining conditions, and a more disciplined focus on costs and shareholder returns. Analyst Commentary Street research on Shell is mixed, with several price target increases reflecting confidence in execution and cash generation, while a few more cautious voices highlight valuation and medium term growth constraints.Analysis Article • Jan 06
Shell (LON:SHEL) Has A Pretty Healthy Balance Sheet
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Narrative Update • Dec 19
SHEL: Future Returns Will Reflect Free Cash Flow Amid Buyback Funding Debate
Shell's analyst price target has edged lower by approximately $0.12, as analysts weigh still resilient free cash flow and recent target hikes against valuation concerns following the year-to-date rally, as well as medium-term growth and resource replenishment challenges. Analyst Commentary Recent Street research reflects a nuanced view on Shell, with a mix of target price increases and rating downgrades as the stock reprices higher and investors reassess medium term growth and capital return risks.Narrative Update • Dec 05
SHEL: Future Returns Will Reflect Resilient Free Cash Flow Amid Capital Allocation Debate
Shell's analyst price target is nudged lower, with fair value edging down from about $31.78 to $31.43 per share. Analysts are balancing recent target hikes, which cite resilient free cash flow and strong positioning, against fresh downgrades that flag a less compelling valuation, slower medium term growth, and concerns over capital allocation.Narrative Update • Nov 21
SHEL: Future Returns Will Reflect Resilient Cash Flow Amid Energy Sector Volatility
Shell's analyst price target has been raised, with new targets ranging as high as $91. Analysts point to resilient free cash flow, steady growth, and ongoing cost reductions as supporting factors for the upward revision of Shell’s valuation.Narrative Update • Nov 06
SHEL: Future Performance Will Reflect Capital Returns and Energy Sector Uncertainties
Shell's analyst price target has increased from $80 to $82. Analysts cite stronger-than-expected operational and trading performance, improved profit margins, and a lower discount rate, which are supporting upward revisions in fair value estimates.Analysis Article • Nov 02
Shell plc Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Last week saw the newest third-quarter earnings release from Shell plc ( LON:SHEL ), an important milestone in the...Narrative Update • Oct 23
Analysts Weigh In on Shell Amid Mixed Outlook and Updated Valuation Targets
Shell's analyst price target saw a modest increase to $91 from $80, as analysts cite stronger-than-expected recent results and a continued focus on capital returns. This comes despite softer demand indicators and cash flow considerations.Narrative Update • Oct 09
LNG Investments And Cost Cuts Will Support Future Energy Resilience
Shell's analyst price target has increased modestly to $87 from $82, as analysts cite stronger-than-expected Q3 performance and robust underlying operations as key drivers for the upward revision. Analyst Commentary Recent Street research reveals a mix of optimism and caution regarding Shell’s outlook, as analysts assess the company’s operational momentum, balance sheet decisions, and capital allocation strategies following the latest quarterly updates.Narrative Update • Sep 25
LNG Investments And Cost Cuts Will Support Future Energy Resilience
Shell’s price target has edged up to £30.50 as analysts remain broadly supportive, citing strong growth prospects and a favorable refining outlook despite some concerns about near-term momentum. Analyst Commentary Bullish analysts cited Shell's distinctive mix of growth, resource depth, and sustainable shareholder returns, with medium-term refining outlook becoming increasingly favorable.Narrative Update • Sep 10
LNG Investments And Cost Cuts Will Support Future Energy Resilience
Shell’s consensus price target was slightly reduced to £30.10 as bullish sentiment on strong Q2 results and sector tailwinds was tempered by concerns over near-term momentum, resulting in minor downward revisions rather than a fundamental change in outlook. Analyst Commentary Bullish analysts highlight Shell’s robust second quarter results, emphasizing the company’s distinctive growth prospects, deep resource base, and commitment to sustainable shareholder returns.Analysis Article • Sep 09
Is Shell (LON:SHEL) A Risky Investment?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Aug 07
Shell's (LON:SHEL) Soft Earnings Don't Show The Whole Picture
LSE:SHEL 1 Year Share Price vs Fair Value Explore Shell's Fair Values from the Community and select yours Soft earnings...
New Narrative • Mar 18
AI And Robotics Adoption Will Improve Long-Term Operational Performance
New technologies enhancing safety and efficiency may lead to improved long-term performance and higher net margins.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$19b |
| Dec 31 2025 | US$19m | US$2m | US$18b |
| Sep 30 2025 | n/a | n/a | US$15b |
| Jun 30 2025 | n/a | n/a | US$14b |
| Mar 31 2025 | n/a | n/a | US$14b |
| Dec 31 2024 | US$11m | US$2m | US$16b |
| Sep 30 2024 | n/a | n/a | US$16b |
| Jun 30 2024 | n/a | n/a | US$18b |
| Mar 31 2024 | n/a | n/a | US$18b |
| Dec 31 2023 | US$10m | US$2m | US$19b |
Compensation vs Market: Wael's total compensation ($USD18.54M) is above average for companies of similar size in the UK market ($USD7.52M).
Compensation vs Earnings: Wael's compensation has increased by more than 20% in the past year.
CEO
Wael Sawan (52 yo)
3.5yrs
Tenure
US$18,543,332
Compensation
Mr. Wael Sawan serves as the Chief Executive Officer and Director of Shell plc (Formerly known as Royal Dutch Shell plc) since January 01, 2023. Mr. Sawan served as Upstream Director at Royal Dutch Shell p...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3.5yrs | US$18.54m | 0.013% £ 21.2m | |
| CFO & Director | 4.3yrs | US$11.42m | 0.0074% £ 12.5m | |
| Chief Legal Officer | 3yrs | no data | no data | |
| Chief Human Resources & Corporate Officer | 2.5yrs | no data | no data | |
| Executive Vice President of Chemicals | 13.5yrs | no data | no data | |
| Executive Vice President of Finance Downstream | no data | no data | no data | |
| Senior Vice President of Finance Mobility | no data | no data | no data | |
| President of Integrated Gas | no data | no data | no data | |
| Chairman for Kazakhstan | 1.8yrs | no data | no data | |
| President of Upstream | 4.7yrs | no data | no data | |
| President of Downstream | 1.3yrs | no data | no data | |
| President of Trading & Supply | 1.3yrs | no data | no data |
3.0yrs
Average Tenure
52yo
Average Age
Experienced Management: SHEL's management team is considered experienced (3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3.5yrs | US$18.54m | 0.013% £ 21.2m | |
| CFO & Director | 4.3yrs | US$11.42m | 0.0074% £ 12.5m | |
| Independent Non-Executive Director | 8.2yrs | US$310.04k | 0.00018% £ 304.7k | |
| Independent Non-Executive Director | less than a year | no data | 0.00018% £ 304.7k | |
| Deputy Chair & Senior Independent Director | 6.2yrs | US$316.78k | 0.00018% £ 304.7k | |
| Independent Chairman of the Board | 5.8yrs | US$1.15m | 0.00067% £ 1.1m | |
| Independent Non-Executive Director | 3.3yrs | US$297.91k | 0.00018% £ 304.7k | |
| Independent Non-Executive Director | 5.2yrs | US$253.43k | 0.00013% £ 220.1k | |
| Independent Non-Executive Director | 5.8yrs | US$214.33k | no data | |
| Independent Non-Executive Director | less than a year | no data | no data | |
| Independent Non-Executive Director | 3.3yrs | US$249.38k | 0.000090% £ 152.3k | |
| Independent Non-Executive Director | 3.3yrs | US$225.12k | no data |
3.9yrs
Average Tenure
66.5yo
Average Age
Experienced Board: SHEL's board of directors are considered experienced (3.9 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/12 01:47 |
| End of Day Share Price | 2026/07/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Shell plc is covered by 54 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| John Eade | Argus Research Company |
| Alejandro Vigil | Banco Santander |
| Lydia Rainforth | Barclays |