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Shell (MEX:SHEL N) Cyclically Adjusted FCF per Share : MXN68.03 (As of Mar. 2025)


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What is Shell Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Shell's adjusted free cash flow per share for the three months ended in Mar. 2025 was MXN18.594. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is MXN68.03 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Shell's average Cyclically Adjusted FCF Growth Rate was 15.00% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 23.20% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 21.20% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 16.90% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Shell was 26.00% per year. The lowest was -5.20% per year. And the median was 20.75% per year.

As of today (2025-05-28), Shell's current stock price is MXN647.50. Shell's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was MXN68.03. Shell's Cyclically Adjusted Price-to-FCF of today is 9.52.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Shell was 46.83. The lowest was 7.53. And the median was 14.67.


Shell Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Shell's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Shell Cyclically Adjusted FCF per Share Chart

Shell Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 45.26 49.22 69.51

Shell Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 48.00 52.39 69.15 69.51 68.03

Competitive Comparison of Shell's Cyclically Adjusted FCF per Share

For the Oil & Gas Integrated subindustry, Shell's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Shell's Cyclically Adjusted Price-to-FCF Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Shell's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Shell's Cyclically Adjusted Price-to-FCF falls into.


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Shell Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Shell's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=18.594/136.1000*136.1000
=18.594

Current CPI (Mar. 2025) = 136.1000.

Shell Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 -0.381 100.100 -0.518
201509 12.730 100.200 17.291
201512 -5.028 100.400 -6.816
201603 -11.102 100.400 -15.050
201606 -8.047 101.000 -10.844
201609 7.655 101.500 10.264
201612 8.721 102.200 11.614
201703 11.912 102.700 15.786
201706 12.262 103.500 16.124
201709 5.589 104.300 7.293
201712 3.324 105.000 4.309
201803 10.156 105.100 13.152
201806 9.912 105.900 12.739
201809 14.090 106.600 17.989
201812 35.232 107.100 44.772
201903 8.290 107.000 10.545
201906 13.855 107.900 17.476
201909 15.319 108.400 19.234
201912 8.432 108.500 10.577
202003 31.749 108.600 39.789
202006 -2.587 108.800 -3.236
202009 18.986 109.200 23.663
202012 2.762 109.400 3.436
202103 11.507 109.700 14.276
202106 21.301 111.400 26.024
202109 30.095 112.400 36.441
202112 5.121 114.700 6.076
202203 27.490 116.500 32.115
202206 32.051 120.500 36.200
202209 19.922 122.300 22.170
202212 43.749 125.300 47.520
202303 20.648 126.800 22.162
202306 26.303 129.400 27.665
202309 18.288 130.100 19.131
202312 14.362 130.500 14.978
202403 23.857 131.600 24.673
202406 24.001 133.000 24.560
202409 31.132 133.500 31.738
202412 22.417 135.100 22.583
202503 18.594 136.100 18.594

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Shell  (MEX:SHEL N) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Shell's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=647.50/68.03
=9.52

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Shell was 46.83. The lowest was 7.53. And the median was 14.67.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Shell Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Shell's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Shell Business Description

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Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At end-2023, reserves stood at 9.6 billion barrels of oil equivalent, 49% of which, consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with capacity of 1.6 mmb/d located in the Americas, Asia, Africa, and Europe and sells about 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

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