Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. NEL ASA's shares outstanding for the quarter that ended in Mar. 2026 was 61.27 Mil.
NEL ASA's quarterly shares outstanding
stayed the same
from Dec. 2025 (61.27 Mil) to Mar. 2026 (61.27 Mil).
NEL ASA's annual shares outstanding
increased
from Dec. 2024 (55.70 Mil) to Dec. 2025 (61.27 Mil).
It means NEL ASAissued new shares from Dec. 2024 to Dec. 2025 .
NEL ASA (OTCPK:NLLSY) Shares Outstanding (EOP) 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.
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.
NEL ASA Shares Outstanding (EOP) Related Terms
NEL ASA Shares Outstanding (EOP) Historical Data
* Premium members only.
The historical data trend for NEL ASA's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NLLSY vs GEV, ETN, PH: Shares Outstanding (EOP) Comparison
For the Specialty Industrial Machinery subindustry, NEL ASA's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* 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. Note that "N/A" values will not show up in the chart.
NEL ASA Shares Outstanding (EOP) vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NEL ASA's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where NEL ASA's Shares Outstanding (EOP) falls into.
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.
What does a Shares Outstanding (EOP) of 61.27 Mil mean?
NEL ASA (NLLSY) has a Shares Outstanding (EOP) of 61.27 Mil as of Mar. 2026. The total shares a company has outstanding, at period-end. View historical data on NEL ASA and its competitors.
Is NEL ASA's Shares Outstanding (EOP) too high?
NEL ASA's current Shares Outstanding (EOP) is 61.27 Mil. Overall, NEL ASA has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's Shares Outstanding (EOP) compare to GEV and ETN?
NEL ASA's Shares Outstanding (EOP) of 61.27 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for an Industrial Products company?
A good Shares Outstanding (EOP) depends on the Industrial Products industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on NEL ASA and its competitors. NEL ASA's current Shares Outstanding (EOP) is 61.27 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NEL ASA stock overvalued right now?
Based on GuruFocus' analysis, NEL ASA (NLLSY) is currently considered Fairly Valued. The stock's GF Value™ is $8.22, compared to a current price of $7.76 — trading 5.6% below its estimated fair value. The current Shares Outstanding (EOP) is 61.27 Mil. NEL ASA's overall GF Score™ is 79/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For NEL ASA (NLLSY), the current Shares Outstanding (EOP) is 61.27 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NEL ASA (NLLSY) Overvalued in 2026?
Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued.
The current stock price of $7.76 is trading 5.6% below its estimated GF Value™ of $8.22.
GuruFocus considers NEL ASA to be Fairly Valued.
Key valuation signals for NLLSY:
Shares Outstanding (EOP): 61.27 Mil
GF Value™: $8.22 vs. price of $7.76 (5.6% below fair value)
No single metric tells the full story. See the NLLSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NEL ASA is a hydrogen company delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser is a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
79GF Score
Get the complete analysis for NLLSY
Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NLLSY has been successfully added to your 
