• Shell average price to free cash flow ratio for 2023 was 5.32, a 19.02% increase from 2022.
• Shell average price to free cash flow ratio for 2022 was 4.47, a 28.14% increase from 2021.
• Shell average price to free cash flow ratio for 2021 was 6.22, a 27.98% decline from 2020.

Price to free cash flow ratio can be defined as