Float Shares

Returns the number of shares available for public trading, also known as the "public float" or "free float". This excludes restricted shares held by insiders, employees, and major shareholders.

Float = Shares Outstanding - Restricted Shares

Float vs Outstanding Shares

Metric Definition
Shares Outstanding Total shares issued by the company
Float Shares Shares available for public trading
Restricted Shares Shares held by insiders, not freely tradeable

Why Float Matters

  • Liquidity: Higher float = more liquid stock
  • Volatility: Lower float can lead to more volatility
  • Short Squeeze: Low float stocks are more susceptible
  • Index Inclusion: Many indices use float-weighted calculations

Float Percentage

To calculate float as percentage of outstanding shares: =FloatShares("AAPL") / Shares_Outstanding("AAPL")

Examples

=FloatShares("AAPL")
Apple float shares
=FloatShares("TSLA")
Tesla float shares
=FloatShares("GME")
GameStop float shares
=FloatShares(A1)
Symbol from cell reference
=FloatShares("AAPL")/1000000000
Float in billions

When to Use

  • Liquidity analysis
  • Short squeeze screening
  • Volatility assessment
  • Float-weighted calculations
  • Finding low-float momentum stocks

When NOT to Use

Scenario Use Instead
Need total shares Shares_Outstanding()
Need market cap MarketCapitalization()
Need insider ownership SharePercentHeldByInsiders()
Need short interest SharesShort()

Common Issues & FAQ

Q: Why is float lower than shares outstanding? A: Float excludes restricted shares that cannot be freely traded, including:

  • Shares held by company executives
  • Employee stock options not yet vested
  • Shares held by major institutional investors with lockup agreements

Q: How do I calculate float percentage? A: =FloatShares("SYMBOL") / Shares_Outstanding("SYMBOL")

Q: What is considered low float? A: Generally, stocks with less than 10-20 million float shares are considered "low float" and may be more volatile.

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MarketXLS Excel Add-in Tutorial - How to Use Float Shares and Other Financial Formulas
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