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Updated 1mo ago.
Updated 1mo ago.
Total shares issued by the company and held by all shareholders (public + private + insiders). It's the denominator of EPS and market cap. A company that regularly buys back shares reduces this count — mechanically, EPS and per-share value rise. Conversely, share issuance dilutes existing holders.
A company with 100M shares outstanding at $50 has a $5B market cap (100M × $50). If it buys back 10M shares, 90M remain: each remaining share represents a larger slice of the company.
Shares outstanding is the basis for market cap, EPS and most per-share ratios. A company buying back shares (buyback) shrinks the count and mechanically lifts EPS; issuing new shares dilutes it.