Noble Investments (UK) (LSE:NBL) Shares Outstanding (Diluted Average) : 15.37 Mil (As of Feb. 2013)

Noble Investments (UK) Shares Outstanding (Diluted Average) Chart

Noble Investments (UK) Annual Data
	Trend	Aug03	Aug04	Aug05	Aug06	Aug07	Aug08	Aug09	Aug10	Aug11	Aug12
Shares Outstanding (Diluted Average)		Get a 7-Day Free Trial					17.92	16.22	15.72	14.75	14.94

Noble Investments (UK) Semi-Annual Data
	Aug03	Feb04	Aug04	Feb05	Aug05	Feb06	Aug06	Feb07	Aug07	Feb08	Aug08	Feb09	Aug09	Feb10	Aug10	Feb11	Aug11	Feb12	Aug12	Feb13
Shares Outstanding (Diluted Average)	Get a 7-Day Free Trial															14.75	14.76	14.91	14.97	15.37

Noble Investments (UK) 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.

Noble Investments (UK)  (LSE:NBL) 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.

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Noble Investments (UK) (LSE:NBL) Business Description