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National Oilwell Varco, Inc. (NYSE:NOV)
Shares Outstanding
428 Mil (As of Dec. 2013)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. National Oilwell Varco, Inc.'s shares outstanding for the quarter that ended in Dec. 2013 was 428 Mil.

National Oilwell Varco, Inc.'s quarterly shares outstanding stayed the same from Sep. 2013 (428 Mil) to Dec. 2013 (428 Mil).

National Oilwell Varco, Inc.'s annual shares outstanding increased from Dec. 2012 (427 Mil) to Dec. 2013 (428 Mil). It means National Oilwell Varco, Inc. issued new 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.

National Oilwell Varco, Inc. Annual Data

Shares Outstanding 173317354355399417419424427428

National Oilwell Varco, Inc. Quarterly Data

Shares Outstanding 425425426427427430428428428428
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