Shares outstanding

Common shares reported at the exact balance-sheet date.

Worked example · a round-number company

This period200M÷A year before205M− 1 =Change−2.4%

How to read it

↕Neither higher nor lower is better. Helps track changes in ownership units over time.

Keep in mind

  • Cover-page counts often use a later date and are excluded unless dates match; stock splits are not economic dilution.