Glossary
Shares Outstanding
The total number of a company's common shares currently held by all shareholders.
Shares outstanding is the total number of a company's common shares currently held by all shareholders, including insiders, institutions, and retail investors. It is the denominator of EPS and the multiplier in market-cap calculations.
The number moves with corporate actions: share issuances (secondary offerings, employee stock grants, convertible conversions) increase it; buybacks and reverse splits decrease it.
Basic shares outstanding excludes dilutive instruments; diluted shares outstanding includes options, warrants, and convertibles that could be exercised. Diluted is the figure used for diluted EPS and most valuation work.