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LVMH Moet Hennessy Louis Vuitton SE  (OTCPK:LVMUY) Shares Outstanding (EOP): 2,513 Mil (As of Jun. 2017)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. LVMH Moet Hennessy Louis Vuitton SE's shares outstanding for the quarter that ended in Jun. 2017 was 2,513 Mil.

LVMH Moet Hennessy Louis Vuitton SE's quarterly shares outstanding increased from Dec. 2016 (2,510 Mil) to Jun. 2017 (2,513 Mil). It means LVMH Moet Hennessy Louis Vuitton SE issued new shares from Dec. 2016 to Jun. 2017 .

LVMH Moet Hennessy Louis Vuitton SE's annual shares outstanding declined from Dec. 2015 (2,514 Mil) to Dec. 2016 (2,510 Mil). It means LVMH Moet Hennessy Louis Vuitton SE bought back shares from Dec. 2015 to Dec. 2016 .


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

LVMH Moet Hennessy Louis Vuitton SE Annual Data

Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16
Shares Outstanding (EOP) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,540.82 2,502.01 2,509.30 2,514.00 2,510.14

LVMH Moet Hennessy Louis Vuitton SE Semi-Annual Data

Dec06 Dec07 Dec08 Jun09 Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17
Shares Outstanding (EOP) Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,512.66 2,514.00 2,516.50 2,510.14 2,513.09

Competitive Comparison
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap.


Calculation

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.

Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that end of period. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.


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.

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.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


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