Login to your new FMVA dashboard today.

Weighted Average Shares Outstanding Template

Weighted Average Shares Outstanding Template

This weighted average shares outstanding template shows you how to calculate the weighted average shares outstanding using quarterly data.

Below is a preview of the weighted average shares outstanding template:

Weighted Average Shares Outstanding Template Screenshot


Download the Free Template

Enter your name and email in the form below and download the free template now!

Weighted Average Shares Outstanding Template

Download the free Excel template now to advance your finance knowledge!


Weighted average shares outstanding refers to the number of shares of a company calculated after adjusting for changes in the share capital over a reporting period. The number of shares of a company outstanding is not constant and may change at various times throughout the year, due to a share buyback, new issues, conversion, etc. The number of weighted average shares outstanding is used in calculating metrics such as Earnings per Share (EPS) in order to provide a fair view of a company’s financial condition.


Basic EPS vs. Diluted EPS

The EPS calculated using the “Weighted Average Shares Outstanding” is actually the “Basic EPS.”

The formula is as follows:

Basic EPS = Net Income – Preference Dividend/ Weighted Average Shares Outstanding


Basic EPS uses outstanding shares, which are actually held by the public and company insiders. These shares are non-dilutive because they do not include any options or securities that can be converted. On the other hand, while calculating the dilutive EPS, the denominator includes all possible conversions that can take place and increase the number of shares held by parties. Diluted EPS is always less than the basic EPS as the denominator in the latter is higher. Companies with options, convertible bonds, etc. disclose both basic as well as diluted EPS in their financial disclosures.


More Free Templates

For more resources, check out our business templates library to download numerous free Excel modeling, PowerPoint presentation and Word document templates.

  • Excel Modeling Templates
  • PowerPoint Presentation Templates
  • Transaction Document Templates

Financial Analyst Certification

Become a certified Financial Modeling and Valuation Analyst (FMVA)® by completing CFI’s online financial modeling classes and training program!