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ShellXPRA:SHELL +4.54%90 Piotroski F-Score is 8 as of Aug. 04, 2026, which is 14% above its 10-year median of 7.00. GuruFocus rates XPRA:SHELL with a GF Score™ of 90/100 and a GF Value™ of Kč819.39 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 976 Oil & Gas companies, Shell ranks better than 98.05% on this metric.
Good Sign:
Piotroski F-Score is 8, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Shell has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Shell's Piotroski F-Score or its related term are showing as below:
XPRA:SHELL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 7 Max: 9
Current: 8
During the past 13 years, the highest Piotroski F-Score of Shell was 9. The lowest was 3. And the median was 7.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Shell Piotroski F-Score Related Terms
Shell Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Shell's Piotroski F-Score 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.
XPRA:SHELL vs XOM, CVX: Piotroski F-Score Comparison
For the Oil & Gas Integrated subindustry, Shell's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Shell's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Shell's Piotroski F-Score falls into.
* 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was 110446.498 + 85626.284 + 120378.666 + 227458.895 = Kč543,910 Mil. Cash Flow from Operations was 253329.652 + 195486.422 + 128158.671 + 450503.562 = Kč1,027,478 Mil. Revenue was 1414366.818 + 1327538.802 + 1473359.604 + 1989850.188 = Kč6,205,115 Mil. Gross Profit was 240234.623 + 150788.424 + 284012.468 + 388347.019 = Kč1,063,383 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(8355593.61 + 7839128.038 + 7670946.833 + 8046343.41 + 7998435.143) / 5 = Kč7982089.4068 Mil. Total Assets at the begining of this year (Jun25) was Kč8,355,594 Mil. Long-Term Debt & Capital Lease Obligation was Kč1,356,513 Mil. Total Current Assets was Kč2,581,966 Mil. Total Current Liabilities was Kč1,799,618 Mil.
Net Income was 96969.653 + 22282.419 + 110597.136 + 77563.654 = Kč307,413 Mil.
Revenue was 1606496.304 + 1591488.154 + 1601900.027 + 1408810.981 = Kč6,208,695 Mil. Gross Profit was 251926.751 + 164092.727 + 293961.635 + 209536.025 = Kč919,517 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(9092701.264 + 8925207.962 + 9306967.789 + 9006216.336 + 8355593.61) / 5 = Kč8937337.3922 Mil. Total Assets at the begining of last year (Jun24) was Kč9,092,701 Mil. Long-Term Debt & Capital Lease Obligation was Kč1,404,762 Mil. Total Current Assets was Kč2,619,136 Mil. Total Current Liabilities was Kč1,982,041 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Shell's current Net Income (TTM) was 543,910.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Shell's return on assets of this year was 0.06509536. Shell's return on assets of last year was 0.03380875.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Shell's current Net Income (TTM) was 543,910. Shell's current Cash Flow from Operations (TTM) was 1,027,478.
==> 1,027,478 > 543,910 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Shell's current ratio of this year was 1.4347303. Shell's current ratio of last year was 1.32143362.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Shell's number of shares in issue this year was 5637. Shell's number of shares in issue last year was 6004.7.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Shell's gross margin of this year was 0.17137192. Shell's gross margin of last year was 0.1481015.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Shell's asset turnover of this year was 0.74263011. Shell's asset turnover of last year was 0.68282189.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Shell has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.
Shell (XPRA:SHELL) has a Piotroski F-Score of 8 as of Aug. 04, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shell and its competitors. This is 14% above median its historical median of 7.00. Over the past decade, Shell's Piotroski F-Score has ranged from 3.00 to 9.00. According to the industry distribution chart, Shell ranks #19 out of 976 companies in the Oil & Gas industry, placing it in the top 1.9%.
Is Shell's Piotroski F-Score too high?
Shell's current Piotroski F-Score of 8 is 14% above median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 9.00. The Oil & Gas industry median Piotroski F-Score is 5.00. Shell's value of 8 is 60% above this industry median. Based on the distribution chart, Shell ranks #19 out of 976 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Shell has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shell's Piotroski F-Score compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Shell ranks #19 out of 976 companies for Piotroski F-Score. This places Shell in the top 2% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Shell's value of 8 is 60% above this benchmark. Historically, Shell's own Piotroski F-Score has ranged from 3.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 5.00, Shell has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Oil & Gas company?
The median Piotroski F-Score among Oil & Gas companies is 5.00, based on 976 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Shell's current Piotroski F-Score of 8 is 60% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Shell and its competitors. For the Oil & Gas industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shell's current Piotroski F-Score is 8, which is 14% above median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shell stock overvalued right now?
Based on GuruFocus' analysis, Shell (XPRA:SHELL) is currently considered Modestly Overvalued. The stock's GF Value™ is Kč819.39, compared to a current price of Kč976.90 — trading 19.2% above its estimated fair value. The current Piotroski F-Score is 8, which is 14% above median its 10-year median of 7.00 and 60% above the Oil & Gas industry median of 5.00. Shell's overall GF Score™ is 90/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Shell (XPRA:SHELL), the current Piotroski F-Score is 8 as of Aug. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Shell (XPRA:SHELL) Overvalued in 2026?
Based on GuruFocus' analysis, Shell stock appears to be overvalued.
The current stock price of Kč976.90 is trading 19.2% above its estimated GF Value™ of Kč819.39.
GuruFocus considers Shell to be Modestly Overvalued.
Key valuation signals for XPRA:SHELL:
Piotroski F-Score: 8 (14% above median its 10-year median of 7.00)
GF Value™: Kč819.39 vs. price of Kč976.90 (19.2% above fair value)
Industry Position: 60% above the Oil & Gas median (#19 of 976)
No single metric tells the full story. See the XPRA:SHELL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2025, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At year-end 2025, reserves stood at 8.1 billion barrels of oil equivalent, 44% 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 a capacity of 1.4 mmb/d located in the Americas, Asia, and Europe, and sells about 9 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Northwestern Europe, China, and North America.
90GF Score
Get the complete analysis for XPRA:SHELL
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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