Shares outstanding are all the
share Share may refer to: * Share, to make joint use of a resource (such as food, money, or space); see Sharing * Share (finance), a stock or other financial security (such as a mutual fund) * Share, Kwara, a town and LGA in Kwara State, Nigeria Share ma ...
s of a
corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ...

that have been authorized, issued and purchased by investors and are held by them. They are distinguished from treasury shares, which are shares held by the corporation itself, thus representing no exercisable rights. Shares outstanding and treasury shares together amount to the number of
issued sharesIn finance Finance is the study of financial institutions, financial markets and how they operate within the financial system. It is concerned with the creation and management of money and investments. Savers and investors have money available w ...
. Shares outstanding can be calculated as either basic or fully diluted. The basic count is the current number of shares.
Dividend A dividend is a distribution of profit Profit may refer to: Business and law * Profit (accounting), the difference between the purchase price and the costs of bringing to market * Profit (economics), normal profit and economic profit * Profit ...

distributions and voting in the general meeting of shareholders are calculated according to this number. The fully diluted shares outstanding count, on the other hand, includes diluting securities, such as warrants,
capital note {{Unreferenced, date=June 2019, bot=noref (GreenC bot) Capital notes are several types of securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument Finance is the study of financial i ...
s or
convertibles A convertible or cabriolet () is a passenger car Passenger car may refer to: * A car (automobile) as opposed to a truck * Passenger car (Ferris wheel), a compartment for carrying passengers * Passenger car (rail), railway rolling stock for car ...
. If the company has any diluting securities, this indicates the potential future increased number of shares outstanding.

Finding the number of shares outstanding

The number of outstanding shares may change due to changes in the number of issued shares as well as the change in treasury shares. Both can occur at any time of the year. There are several useful public sources to find the number of shares outstanding of a given corporation.

Public traded companies' investor relations

The financial reporting obligation of the publicly traded company also ensures the publication of issued and outstanding shares. The reports are usually available in the investor relations section of the company's website. Web directories are supporting direct access to company websites. Publicly traded companies bundle the reports in the investor relations section, e.g.
Deutsche Bank Deutsche Bank AG () is a German multinational investment bank Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effo ...

Deutsche Bank
, Eni S.p.a.,
AB InBev Anheuser-Busch InBev SA/NV, commonly known as AB InBev, is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple co ...
, EDP - Energias do Brasil SA or Accor SA.

Authorized information service

In many countries, there is an information service authorized or provided by the local financial authority which gives access to companies' financial reporting. In the United States, the number of shares outstanding may be obtained from quarterly filings with the
U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is a large independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Great Crash ...
. Quarterly filings are accessible using the US EDGAR. In Germany, those figures are available using the German company register, the central platform for storage of company data. In the Netherlands, the
Netherlands Authority for the Financial Markets The Netherlands Authority for the Financial Markets ( nl, Autoriteit Financiële Markten) is the financial services regulatory authority for the Netherlands. Its role is comparable to the role of the U.S. Securities and Exchange Commission, SEC in ...
(AFM) provides on its website a register of issued capital. In Italy, the Commissione Nazionale per le Società e la Borsa (CONSOB) provides on its website a register of issuers with latest total shares.

Local stock exchanges

Since outstanding shares are an essential detail of publicly traded companies the number can be found on the local stock exchange websites. Beyond stock charts and listed prices, they also provide the companies' number of outstanding shares. Examples include the Brazilian BM&FBOVESPA, the Swiss SIX, the Borsa Italiana and the
Tel Aviv Stock Exchange The Tel Aviv Stock Exchange (TASE; ; colloquially known as The Bursa, ) is a public company that has been traded on the Tel-Aviv Stock Exchange since August 1, 2019 and the Israel, Israel's only public stock exchange. Legally, the exchange is ...

Tel Aviv Stock Exchange
(where shares outstanding are termed "Capital Listed for Trading").

See also

Share capital __NOTOC__ A corporation's share capitalGlossary on Trade Financing Terms - S
in the U ...
Public float In the context of stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed o ...


External links

Investopedia: Outstanding Shares
{{DEFAULTSORT:Shares outstanding Corporate finance Fundamental analysis he:הון עומד