Shares outstanding
Shares outstanding is how many shares of the company existed at the reporting date — the number of slices the business is currently cut into.
How it is computed here
| Formula | as reported on the cover of the annual filing |
|---|---|
| Unit | Number of shares |
| Period | One fiscal year, as reported |
| Source | Extracted from SEC filings; every value on an asset page carries the accounting tag and the filing it came from |
| Identifier | acoes_em_circulacao |
What goes into the formula
| Shares issued and outstanding | The count the company itself states, at a date it states. Not an average, and not adjusted by this site for anything that happened afterwards. |
|---|---|
| Treasury shares | Shares the company has bought back and holds. They are already excluded from the outstanding count — a buyback reduces this number, it does not create a second one. |
A formula without its inputs explained is decoration. Where an input is missing from a filing, the metric is left empty here rather than completed with a zero or an estimate.
How to calculate shares outstanding, step by step
A company that bought back stock steadily for five years.
| Shares outstanding, five years ago | 1.20B |
|---|---|
| Shares outstanding, now | 1.00B |
| Net income, five years ago | $2,400M |
| Net income, now | $2,400M |
- Earnings per share then = 2,400 ÷ 1,200 = $2.00.
- Earnings per share now = 2,400 ÷ 1,000 = $2.40.
- Change in the share count = 1,000 ÷ 1,200 − 1 = −16.7%.
- Earnings per share rose 20% while the company earned exactly the same amount.
Result: 1.00B shares, down 16.7% in five years
The company did not become more profitable. The same profit is simply divided among fewer owners, so each one owns more of it.
The figures in this example are illustrative and rounded — they are not a real company. The real figures on this site are the live ones below and on every asset page, each carrying the filing it came from.
What shares outstanding is good for
Every per-share figure on this site — earnings per share, dividend per share — has this number as its denominator. A series of per-share figures that is rising while profit is flat is a share count story, not an earnings story, and this is where you check.
What this number does not tell you
The count is recorded AS REPORTED AT THE TIME, which means a stock split shows up here as a sudden jump that no business activity explains — a 7-for-1 split multiplies the number by seven overnight. This site detects those jumps and refuses to compute a change across one rather than publishing '+165% more shares' for a company that has been buying its stock back without pause. The figure also ignores options and convertibles that have not been exercised yet; for those, see diluted shares.
Every metric on this site is published with its blind spot stated. A figure without its limit is half a fact.
Highest reported shares outstanding
| BBDBANK BRADESCO | 10577.01B |
|---|---|
| WHENWORLD HEALTH ENERGY HOLDINGS, INC. | 550.83B |
| HCMCHEALTHIER CHOICES MANAGEMENT CORP. | 525.16B |
| TVGrupo Televisa, S.A.B. | 315.45B |
| LYGLloyds Banking Group plc | 59.18B |
| RWAXTAP REAL ESTATE TECHNOLOGIES, INC. | 53.62B |
| ECECOPETROL S.A. | 41.12B |
| NVDANVIDIA CORP | 24.30B |
From the most recent fiscal year of each company.
See it in a published filing
These pages show the figure across up to nineteen fiscal years, with the accounting tag and the filing behind every value.