FSGCY (First Gen) Shares Outstanding (Diluted Average): 179.8 Mil (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FSGCY First Gen Corp FSGCY
54 GF Score
Price $5.35
GF Value $2.20
Valuation Significantly Overvalued
! 12 Warning Signs
View Full Analysis

What is First Gen Shares Outstanding (Diluted Average)?

First Gen FSGCY 54 Shares Outstanding (Diluted Average) is 179.8 Mil as of Mar. 2026. GuruFocus rates FSGCY with a GF Score™ of 54/100 and a GF Value™ of $2.20 (Significantly Overvalued). The stock has 12 warning signs investors should review.

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. First Gen's average diluted shares outstanding for the quarter that ended in Mar. 2026 was 179.8 Mil.


First Gen  (OTCPK:FSGCY) Shares Outstanding (Diluted Average) 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.


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.


First Gen Shares Outstanding (Diluted Average) Related Terms


First Gen Shares Outstanding (Diluted Average) Historical Data

* Premium members only.

The historical data trend for First Gen's Shares Outstanding (Diluted Average) 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.

First Gen Shares Outstanding (Diluted Average) Chart

First Gen Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shares Outstanding (Diluted Average)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 177.97 179.83 179.83 179.83 179.83

First Gen Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Shares Outstanding (Diluted Average) Get a 7-Day Free Trial 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 179.83 179.83 179.83 179.83 179.83
FSGCY
54GF Score
First Gen Corp FSGCY
Shares Outstanding (Diluted Average) is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

First Gen Shares Outstanding (Diluted Average) 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 exact time point. 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.

What does a Shares Outstanding (Diluted Average) of 179.8 Mil mean?
First Gen (FSGCY) has a Shares Outstanding (Diluted Average) of 179.8 Mil as of Mar. 2026. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on First Gen and its competitors.
Is First Gen's Shares Outstanding (Diluted Average) too high?
First Gen's current Shares Outstanding (Diluted Average) is 179.8 Mil. Overall, First Gen has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Gen's Shares Outstanding (Diluted Average) compare to competitors?
First Gen's Shares Outstanding (Diluted Average) of 179.8 Mil can be compared against companies in the Utilities - Independent Power Producers 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 (Diluted Average) for an Utilities - Independent Power Producers company?
A good Shares Outstanding (Diluted Average) depends on the Utilities - Independent Power Producers industry context. However, Shares Outstanding (Diluted Average) 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 (Diluted Average) mean?
A high Shares Outstanding (Diluted Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods including dilutive securities like preferred shares and convertibles. View historical data on First Gen and its competitors. First Gen's current Shares Outstanding (Diluted Average) is 179.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Gen stock overvalued right now?
Based on GuruFocus' analysis, First Gen (FSGCY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.20, compared to a current price of $5.35 — trading 143.2% above its estimated fair value. The current Shares Outstanding (Diluted Average) is 179.8 Mil. First Gen's overall GF Score™ is 54/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Diluted Average) calculated?
Shares Outstanding (Diluted Average) is calculated from a company's financial statements. For First Gen (FSGCY), the current Shares Outstanding (Diluted Average) is 179.8 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 First Gen (FSGCY) Overvalued in 2026?

Based on GuruFocus' analysis, First Gen stock appears to be overvalued. The current stock price of $5.35 is trading 143.2% above its estimated GF Value™ of $2.20. GuruFocus considers First Gen to be Significantly Overvalued.

Key valuation signals for FSGCY:

  • Shares Outstanding (Diluted Average): 179.8 Mil
  • GF Value™: $2.20 vs. price of $5.35 (143.2% above fair value)
  • GF Score™: 54/100 with 12 warning signs

No single metric tells the full story. See the FSGCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


First Gen Business Description

Other Exchanges FGEN:Philippines
Address Ortigas Avenue, 6th Floor, Rockwell Business Center, Tower 3, Pasig, PHL, 1604
First Gen Corp is an independent electric utility company operating in the Philippines. First Gen develops, finances, builds, bids for, and operate power generation projects. The company generates a amount of Filipino energy needs through its portfolio of natural gas, wind, solar, hydro, and geothermal power plants located in the country. Majority of the power generated by First Gen is produced through natural gas and geothermal fuel sources. It operates in six segments: FGPC, FGP, EDC and Subsidiaries, FGEN LNG, FNPC, and Prime Meridian. The company only operates in Philippines.
54GF Score

Get the complete analysis for FSGCY

Shares Outstanding (Diluted Average) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$5.35
Price
$2.20
GF Value