Weighted Average Shares (Historical)
Returns the weighted average number of basic common shares outstanding during a fiscal period. This is the denominator used in basic EPS calculations.
Parameters
| Parameter | Required | Description |
|---|---|---|
| Symbol | Yes | Stock ticker symbol (e.g., AAPL, MSFT) |
| Year | Yes | Fiscal year (2023) or period code (lq, ly) |
| Quarter | No | Quarter number 1-4 (default: 1) |
| TTM | No | Set to "TTM" for trailing twelve months |
Period Codes
| Code | Description |
|---|---|
lq |
Last reported quarter |
lq-1 |
One quarter ago |
ly |
Last fiscal year |
ly-1 |
Previous fiscal year |
lt |
Last twelve months (TTM) |
Notes
- Excludes potentially dilutive securities
- Time-weighted to reflect when shares were outstanding
- Used as denominator for basic EPS calculation
- Account for stock splits and share issuances/buybacks
Syntax
=hf_Weighted_Average_Shares(Symbol, Year, [Quarter], [TTM])Parameters
Stock ticker symbol
Fiscal year or period code (e.g., 2023, lq, ly)
Calendar quarter (1-4)
Set to 'TTM' for trailing twelve months
Returns
Weighted average basic shares outstanding
Examples
=hf_Weighted_Average_Shares("AAPL", 2023, 4)=hf_Weighted_Average_Shares("MSFT", "ly")=hf_Weighted_Average_Shares("GOOGL", 2023, , "TTM")=hf_Weighted_Average_Shares(A1, B1, C1)=hf_Weighted_Average_Shares("NVDA", "lq-1")When to Use
- Calculating basic EPS manually
- Tracking share count changes over time
- Analyzing buyback program impact
- Understanding dilution from issuances
- Computing market cap with period-average shares
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need diluted shares | hf_Weighted_Average_Shares_Diluted() |
| Need current shares | Shares_Outstanding() |
| Need tradeable shares | FloatShares() |
| Need basic EPS directly | hf_Earnings_per_Basic_Share() |
Common Issues & FAQ
Why is this different from shares outstanding?
Weighted average accounts for timing of share changes. Shares outstanding is a point-in-time measure.
How do I verify EPS calculation?
Basic EPS = Net Income Common / Weighted Average Shares. Verify: =hf_Net_Income_Common_Stock_USD("AAPL",2023) / hf_Weighted_Average_Shares("AAPL",2023)
Are stock splits reflected?
Yes, historical share counts are typically adjusted for stock splits to enable comparison.
Excel Templates Using Weighted Average Shares (Historical)
These ready-made MarketXLS templates call hf_Weighted_Average_Shares() in their worksheet formulas. Open one to see the function working inside a complete model.
Related Formulas
More MarketXLS Historical Fundamentals formulas you can use in the same worksheet:
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