Switch to:
Walt Disney Co (NYSE:DIS)
Shares Outstanding
1,784 Mil (As of Dec. 2013)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Walt Disney Co's shares outstanding for the quarter that ended in Dec. 2013 was 1,784 Mil.

Walt Disney Co's quarterly shares outstanding declined from Sep. 2013 (1,804 Mil) to Dec. 2013 (1,784 Mil). It means Walt Disney Co bought back shares from Sep. 2013 to Dec. 2013 .

Walt Disney Co's annual shares outstanding declined from Sep. 2012 (1,818 Mil) to Sep. 2013 (1,813 Mil). It means Walt Disney Co bought back shares from Sep. 2012 to Sep. 2013 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Walt Disney Co Annual Data

Sep04Sep05Sep06Sep07Sep08Sep09Sep10Sep11Sep12Sep13
Shares Outstanding 2,1922,1292,0762,0921,9481,8751,9481,9091,8181,813

Walt Disney Co Quarterly Data

Sep11Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13
Shares Outstanding 1,8641,8241,8181,8121,8181,8001,8251,8211,8041,784
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Hide