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Flextronics International, Ltd. (NAS:FLEX)
Shares Outstanding
619 Mil (As of Dec. 2013)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Flextronics International, Ltd.'s shares outstanding for the quarter that ended in Dec. 2013 was 619 Mil.

Flextronics International, Ltd.'s quarterly shares outstanding declined from Sep. 2013 (624 Mil) to Dec. 2013 (619 Mil). It means Flextronics International, Ltd. bought back shares from Sep. 2013 to Dec. 2013 .

Flextronics International, Ltd.'s annual shares outstanding declined from Mar. 2012 (728 Mil) to Mar. 2013 (675 Mil). It means Flextronics International, Ltd. bought back shares from Mar. 2012 to Mar. 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.

Flextronics International, Ltd. Annual Data

Mar04Mar05Mar06Mar07Mar08Mar09Mar10Mar11Mar12Mar13
Shares Outstanding 526585601597721821821790728675

Flextronics International, Ltd. Quarterly Data

Sep11Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13
Shares Outstanding 731721699688678669664640624619
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