To evaluate the composite composed of Shell-Oil Co. itself and its sub-sidiary companies, the account data for 10 years from 1964 to 1973 was analyzed. Before analyzing, the formula needed to it was deduced and by synthesizing the deduced formula, the price earning ratio (R) was computed as the trial and error method. Resultantly the earning power (ic) was less than 5% ie. R=17.03. So this company showed the normal company earnings and allotment from 1964 to 1968. From 1968 to 1970, the allotment was increased but the earnings was decreased. And in spite of the successive increase of the allotment from 1970 to 1973, the company showed that it was the stable and profitable one with stable increase of earnings. In conclusion, this company showed the stable trend of increase in the allotment of earnings and earnings itself.