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Outstanding Shares, Issued Shares, and Book Value per Share

Article Quant Q&A · Author: THausl
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Summary

The document raises a practical question about deriving Activision Blizzard’s book value per share from a quarterly balance sheet. The author proposes dividing shareholders’ equity by shares outstanding, then asks how to determine the relevant outstanding share count when the filing’s common-stock section gives authorized and issued shares instead. They also ask why issued shares might appear to exceed the authorized amount.

No answers or calculations are included, so the document does not resolve the accounting questions or provide evidence from the filing. Its useful focus is the distinction an analyst must investigate: book value per share requires an appropriate period-end share count, and authorized, issued, and outstanding shares are different concepts. Treasury shares and the filing’s detailed disclosures may matter when reconciling those figures. The post is best treated as a prompt for checking a company’s filings and definitions, rather than as guidance that establishes a particular ATVI share count or valuation.

Key ideas

  • Book value per share is commonly calculated using shareholders’ equity and an appropriate outstanding share count.
  • Authorized shares are the maximum a company may issue under its corporate authorization.
  • Issued shares and outstanding shares are distinct measures and should not be treated as interchangeable.
  • The document poses questions about ATVI’s filing but supplies no answers or computed valuation.

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Full text
# How to calculate Share Price based on Outstanding Shares of $ATVI?


# How to calculate Share Price based on Outstanding Shares of $ATVI?












I am looking at the latest 10-Q SEC Filing of ATVI stock (March 31, 2022). (RefLink: https://investor.activision.com/sec-filings/sec-filing/10-q/0001628280-22-011987)

The Balance Sheet states the following:

I would like to know how to calculate the Price Per Share (Book Value). Based on my understanding (I am not a finance guy) this is done by taking the Shareholders Equity and divide the number by the Outstanding shares. How do I get the outstanding shares as of March 31,2022 which is where this Balance Sheet is from ? Websites tell me it should be mentioned in the Common Stock section but as you can see it does not mentioning outstanding shares only, authorized and issued. I also do not understand when I add the issued shares, how can they be large than the authorized amount?

How do I calculate the outstanding shares and the the Price Per Share as of this Balance Sheet ?

Shown in full with attribution under the source's licence. Licence: CC BY-SA 4.0 (Stack Exchange)

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.