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Emerson Electric Co (NYSE:EMR)
Shares Outstanding
703 Mil (As of Jun. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Emerson Electric Co's shares outstanding for the quarter that ended in Jun. 2014 was 703 Mil.

Emerson Electric Co's quarterly shares outstanding declined from Mar. 2014 (705 Mil) to Jun. 2014 (703 Mil). It means Emerson Electric Co bought back shares from Mar. 2014 to Jun. 2014 .

Emerson Electric Co's annual shares outstanding declined from Sep. 2012 (735 Mil) to Sep. 2013 (723 Mil). It means Emerson Electric 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.

Emerson Electric Co Annual Data

Sep04Sep05Sep06Sep07Sep08Sep09Sep10Sep11Sep12Sep13
Shares Outstanding 844836824804789759757754735723

Emerson Electric Co Quarterly Data

Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14
Shares Outstanding 737734729727725722717708705703
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