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Yum Brands Inc (NYSE:YUM)
Shares Outstanding
456 Mil (As of Mar. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Yum Brands Inc's shares outstanding for the quarter that ended in Mar. 2014 was 456 Mil.

Yum Brands Inc's quarterly shares outstanding increased from Dec. 2013 (455 Mil) to Mar. 2014 (456 Mil). It means Yum Brands Inc issued new shares from Dec. 2013 to Mar. 2014 .

Yum Brands Inc's annual shares outstanding declined from Dec. 2012 (473 Mil) to Dec. 2013 (461 Mil). It means Yum Brands Inc bought back shares from Dec. 2012 to Dec. 2013 .


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.


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.

Yum Brands Inc Annual Data

Shares Outstanding 610596564541491483486481473461

Yum Brands Inc Quarterly Data

Shares Outstanding 478477472464465464461455456455
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