Shares Outstanding

The total number of shares of a company's stock currently held by all shareholders, including institutional investors, insiders, and the public. Shares outstanding is a critical input in calculating earnings per share, market capitalization, and ownership percentages. The number changes over time as companies issue new shares (dilution), repurchase stock (buybacks), or when employees exercise stock options. The "float" is a related but narrower concept, representing only the shares available for public trading.