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Shell

RYDAF
53
Oil & Gas Integrated · Energy
Price
$43.34
-1.16 (-2.61%)
Market Cap
$241.67B
Exchange
Other OTC
Winston Score
53
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

23.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 7.81B (2021) → 5.95B (2025)

Shell is one of the largest energy companies in the world. It finds and drills for oil and natural gas underground, refines crude oil into fuels like gasoline and diesel, and sells energy products to customers ranging from everyday drivers at gas stations to large industrial companies and utilities. Shell also has a growing business in liquefied natural gas (LNG), which is natural gas cooled into liquid form so it can be shipped by sea.

Shell makes money by selling oil, gas, refined fuels, chemicals, and electricity. It operates in more than 70 countries, with major production in the Americas, Europe, Asia, and Africa, generating revenues well above $300 billion annually. Its scale, global supply chain, and integrated structure — controlling everything from drilling to retail fuel sales — give it a cost and logistics advantage over smaller rivals. The biggest risk Shell faces is the long-term decline in fossil fuel demand as governments and consumers shift toward cleaner energy sources.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+42.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+208.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$1.2B/ year

Rising (+11% vs prior year)

0.4% of revenue

Below sector average (1%)

R&D investment increasing — building for the future

Insider Activity

1.7%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$69.3B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Shell grew revenue 43% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
20.1%
Thin — 20.1% gross margin
Operating Margin
16.8%
Healthy — 16.8% operating margin
ROCE
7.0%
Weak — 7.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+10.3%
Steady sales growth (+10.3% YoY)
EPS YoY
+100.9%
Earnings growing fast (+100.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
100%
Turns 100% of profit into real cash
FCF Margin
4.1%
Thin free cash flow (4.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
0.24
Conservative — low debt load (0.24)
Interest Cover
10.64x
Comfortably covers interest (10.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
9.5x
Attractive valuation — P/E 9.5

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
-0.1
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield
3.27%
Moderate income — 3.27% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth
+6.6%
Dividend growing modestly (6.6% YoY)

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