Calculate the weighted average number of shares outstanding for accurate financial reporting and analysis.
Weighted Average Shares Outstanding Calculator
Total shares held by investors at the beginning of the period.
Total shares held by investors at the end of the period.
Number of new shares issued (e.g., through stock options, offerings).
Number of shares bought back by the company.
The total number of days in the reporting period (usually 365 for a year).
The date when the new shares were issued. Leave blank if N/A or if issuing throughout the period.
The date when shares were repurchased. Leave blank if N/A or if repurchasing throughout the period.
Calculation Results
Formula: Weighted Average Shares = Basic Shares Outstanding + (Shares Issued * Days Outstanding / Total Days in Period) – (Shares Repurchased * Days Outstanding / Total Days in Period)
Shares Outstanding Over Time
Visualizing the impact of share issuances and repurchases on outstanding shares.
Input Data Summary
Key Inputs and Period Analysis
Metric
Value
Period Weighting
Shares Outstanding at Period Start
100% (Start of Period)
Shares Issued During Period
Shares Repurchased During Period
Shares Outstanding at Period End
100% (End of Period)
What is Weighted Average Shares Outstanding?
The weighted average number of shares outstanding is a crucial financial metric used to calculate earnings per share (EPS). It represents the average number of a company's common shares that have been outstanding over a specific period, such as a quarter or a fiscal year. Unlike a simple average, the weighted average takes into account when shares were issued or repurchased during the period, giving more weight to shares that were outstanding for a longer duration. This calculation is vital for investors and analysts to accurately assess a company's profitability on a per-share basis and to compare performance across different periods or companies. Understanding weighted average shares outstanding is fundamental for anyone analyzing financial statements, as it forms the denominator in the EPS calculation.
Who should use it? This metric is primarily used by:
Publicly traded companies for financial reporting (GAAP and IFRS).
Investors and financial analysts to calculate and compare EPS.
Companies evaluating their capital structure and ownership dilution.
Shareholders tracking the value of their stake over time.
Common misconceptions include:
Confusing it with the simple average of shares at the start and end of the period.
Assuming it remains constant if no new shares are issued or repurchased.
Overlooking the impact of stock options or convertible securities (which are handled in diluted EPS calculations, a separate but related concept).
Accurate calculation of weighted average shares outstanding is essential for a true understanding of per-share performance. This calculation forms the basis for {{primary_keyword}}.
Weighted Average Shares Outstanding Formula and Mathematical Explanation
The formula for calculating the weighted average number of shares outstanding is designed to account for the timing of share issuances and repurchases throughout a reporting period. The core idea is to determine how many shares were outstanding for what portion of the period and then sum these weighted amounts.
The basic formula is:
Weighted Average Shares Outstanding = Basic Shares Outstanding + Σ (Shares Issued * Time Weighting) – Σ (Shares Repurchased * Time Weighting)
Where:
Basic Shares Outstanding: This refers to the total number of common shares outstanding at the beginning of the reporting period.
Shares Issued: The number of new shares issued by the company during the period.
Shares Repurchased: The number of shares bought back (treasury stock) by the company during the period.
Time Weighting: This is the crucial element that gives the "weighted" aspect. It's calculated as the number of days the specific set of shares was outstanding within the reporting period divided by the total number of days in the reporting period. For shares outstanding at the beginning of the period, the weighting is 1 (or 365/365). For shares issued or repurchased mid-period, the weighting is a fraction (e.g., shares issued on July 1st in a 365-day year would have a weighting of 182/365).
Step-by-Step Calculation:
Identify the reporting period: Determine the start and end dates (e.g., January 1 to December 31). Calculate the total number of days in this period.
Determine Shares Outstanding at Period Start: Note the number of shares outstanding on the first day of the period. These shares are considered outstanding for the entire period, thus having a weighting of 1 (or total days / total days).
Calculate Weighted Shares Issued: For each issuance of new shares during the period, calculate the number of days those shares were outstanding. Divide this by the total days in the period to get the time weighting. Multiply the number of shares issued by this weighting.
Calculate Weighted Shares Repurchased: For each repurchase of shares during the period, calculate the number of days the repurchased shares were *not* outstanding. Divide this by the total days in the period to get the time weighting. Multiply the number of shares repurchased by this weighting.
Sum the components: Add the shares outstanding at the start to the weighted shares issued and subtract the weighted shares repurchased.
The calculator above simplifies this by assuming a single issuance and single repurchase event for ease of use, using the provided dates. If there are multiple events, a more detailed calculation or summation would be required.
Variables Table:
Key Variables for Weighted Average Shares Outstanding
Variable
Meaning
Unit
Typical Range
Shares Outstanding at Period Start
Number of common shares held by owners at the beginning of the period.
Shares
≥ 0
Shares Outstanding at Period End
Number of common shares held by owners at the end of the period.
Shares
≥ 0
Shares Issued During Period
New shares added to outstanding count (e.g., new stock offering, employee stock options exercised).
Shares
≥ 0
Shares Repurchased During Period
Shares bought back by the company (treasury stock).
Shares
≥ 0
Date of Share Issuance/Repurchase
Specific date(s) when changes to the number of outstanding shares occurred.
Date
Within the reporting period
Total Days in Period
Total calendar days in the reporting period (e.g., 90 for a quarter, 365 for a year).
Days
≥ 1
Time Weighting
Fraction of the period that a specific block of shares was outstanding.
Ratio (0 to 1)
0 to 1
Weighted Average Shares Outstanding
The average number of shares outstanding, adjusted for the timing of issuances/repurchases.
Shares
≥ 0
Practical Examples (Real-World Use Cases)
Example 1: Mid-Year Stock Offering
Company A has 1,000,000 shares outstanding at the beginning of its fiscal year (January 1st). On July 1st, it issues an additional 200,000 shares through a public offering. The fiscal year has 365 days.
Inputs:
Shares Outstanding at Period Start: 1,000,000
Shares Issued During Period: 200,000
Shares Repurchased During Period: 0
Total Days in Period: 365
Date of Share Issuance: July 1st (182 days into the year)
Calculation:
Shares outstanding at start: 1,000,000 (outstanding for 365 days)
Financial Interpretation: Even though the company ended the year with 1,200,000 shares (1,000,000 + 200,000), the weighted average is lower (1,100,000) because the new shares were only outstanding for roughly half the year. This leads to a more accurate EPS calculation for the period, reflecting the actual ownership structure throughout the year. This impacts how we view {{primary_keyword}}'s effect on profitability metrics.
Example 2: Share Buyback Program
Company B starts the quarter with 5,000,000 shares outstanding. During the 90-day quarter, it repurchases 500,000 shares on day 60.
Inputs:
Shares Outstanding at Period Start: 5,000,000
Shares Issued During Period: 0
Shares Repurchased During Period: 500,000
Total Days in Period: 90
Date of Share Repurchase: Day 60 (assuming quarter starts Day 1)
Calculation:
Shares outstanding at start: 5,000,000 (outstanding for 90 days)
Financial Interpretation: The share buyback reduces the weighted average number of shares outstanding. The company effectively had 5,000,000 shares outstanding for 60 days and 4,500,000 shares outstanding for the remaining 30 days. The calculated weighted average of 4,833,333 accurately reflects this dilution reduction, leading to a higher EPS compared to using the simple end-of-period number (4,500,000). Analyzing {{primary_keyword}} trends helps understand capital allocation strategies.
How to Use This Weighted Average Shares Outstanding Calculator
Our calculator simplifies the process of determining the weighted average number of shares outstanding. Follow these steps for an accurate calculation:
Enter Shares Outstanding at Period Start: Input the total number of common shares that were outstanding on the very first day of your reporting period (e.g., January 1st for a calendar year).
Enter Shares Outstanding at Period End: Input the total number of shares outstanding on the last day of your reporting period. This is mainly for reference and intermediate calculation display.
Enter Shares Issued During Period: If your company issued any new shares during the period (e.g., through stock options, acquisitions, or offerings), enter the total number here.
Enter Shares Repurchased During Period: If your company bought back any of its own shares during the period, enter the total number here.
Enter Total Days in Period: Specify the total number of calendar days in the reporting period (e.g., 90 for Q1, 365 for a full year).
Enter Dates of Issuance/Repurchase: Crucially, select the specific date(s) when shares were issued or repurchased using the date pickers. If there were multiple events, you would typically sum the shares issued/repurchased on the same date or perform separate calculations and sum the weighted impacts. This calculator assumes one primary date for issuance and one for repurchase. If shares were issued/repurchased gradually, an approximation might be needed, or a more complex model used.
Click "Calculate": Once all relevant fields are populated, click the "Calculate" button.
How to Read Results:
Primary Result (Weighted Average Shares Outstanding): This is your main output. It represents the average number of shares outstanding, properly weighted for timing. This is the figure you'll use in your EPS calculations.
Intermediate Values: These show the weighted impact of shares issued and repurchased, and the effective shares outstanding based on the end-of-period figure.
Formula Explanation: A brief text reiterates the formula used for clarity.
Table & Chart: These provide a visual and tabular summary of your inputs and the calculated weightings, helping you understand the breakdown.
Decision-Making Guidance: A lower weighted average {{primary_keyword}} generally leads to higher EPS, assuming net income remains constant. Companies use this metric to track ownership dilution and assess the impact of corporate actions like stock buybacks or new equity financing. Consistent monitoring of {{primary_keyword}} is key to understanding a company's financial health and shareholder value creation. For detailed analysis of {{primary_keyword}}, consider exploring our [related tools](URL_Placeholder_1).
Key Factors That Affect Weighted Average Shares Outstanding Results
Several factors influence the calculation and the resulting weighted average number of shares outstanding. Understanding these is crucial for accurate reporting and analysis:
Timing of Share Transactions: This is the most significant factor. Shares issued on the last day of the period have minimal impact, while those issued on the first day are weighted at 100%. Similarly, repurchases mid-period reduce the average more than those at the end.
Frequency of Share Issuances/Repurchases: Multiple issuances or buybacks throughout a period require careful calculation for each event or summation of their weighted effects. A single large event can skew results significantly compared to several small, spread-out events.
Company Growth Strategy: Companies pursuing aggressive growth may issue significant stock to fund acquisitions or R&D, increasing shares outstanding. Conversely, mature companies might engage in share buyback programs to return capital to shareholders and boost EPS, reducing shares outstanding.
Stock Option Plans and Employee Compensation: Exercising employee stock options leads to the issuance of new shares, increasing the count. The timing of these exercises within the period impacts the weighted average.
Convertible Securities and Warrants: While not directly included in basic {{primary_keyword}}, the potential conversion of convertible bonds or exercise of warrants can lead to future share issuances. These are considered in the calculation of *diluted* EPS, a related but distinct metric.
Accounting Standards (GAAP/IFRS): Both Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) provide specific guidance on calculating weighted average shares outstanding, ensuring consistency and comparability across financial statements. Adherence to these standards is mandatory for public companies.
Definition of "Period": Whether calculating for a quarter, a year, or another interval, the total number of days within that defined period directly affects the time-weighting calculation.
Changes in Share Structure: Stock splits and reverse stock splits also affect the number of shares outstanding but are typically applied retrospectively to all periods presented to maintain comparability. This calculator assumes no splits occurred within the period unless inputs are adjusted accordingly.
Frequently Asked Questions (FAQ)
Q1: What is the difference between basic and diluted weighted average shares outstanding?
Basic weighted average shares outstanding is calculated using only the shares currently outstanding. Diluted weighted average shares outstanding includes the potential effect of all dilutive securities (like stock options, warrants, and convertible bonds) as if they were exercised or converted. Diluted {{primary_keyword}} is generally lower than basic {{primary_keyword}}, reflecting potential future dilution.
Q2: Why is weighted average shares outstanding important for EPS?
Earnings Per Share (EPS) is calculated as Net Income divided by the number of outstanding shares. Using the weighted average shares outstanding ensures that the EPS reflects the company's profitability spread over the *entire* reporting period, accounting for changes in the number of shares. This provides a more accurate and stable measure of performance compared to using only the end-of-period share count.
Q3: How do stock splits affect weighted average shares outstanding?
Stock splits (and reverse stock splits) are typically applied retrospectively to all periods presented in financial statements. This means that if a company has a 2-for-1 stock split during the year, the shares outstanding at the beginning of the year and any shares issued/repurchased mid-year are also retroactively adjusted as if the split had occurred at the beginning of the earliest period shown. This ensures comparability across periods. This calculator does not automatically adjust for splits; you would need to input the adjusted numbers.
Q4: What if shares were issued or repurchased multiple times during the period?
For multiple transactions, you would calculate the weighted impact of each issuance and repurchase separately based on its date and duration outstanding. Then, you sum these weighted impacts. For example, if shares were issued on March 1st and again on August 1st, you calculate the weighted portion for the first issuance (e.g., ~304/365) and the second issuance (e.g., ~153/365) and sum their contributions. Our calculator handles one primary issuance and one repurchase event for simplicity. You can adapt by summing results or using more advanced tools for complex scenarios.
Q5: Does the calculator handle preferred stock?
No, this calculator is specifically for common {{primary_keyword}}. Preferred stock typically does not have voting rights and has a fixed dividend. For EPS calculations, only common shares are considered in the denominator. Preferred dividends are subtracted from net income to arrive at earnings available to common shareholders.
Q6: Can I use this for past financial periods?
Yes, provided you have accurate data for the shares outstanding at the start and end of that period, the number of shares issued or repurchased during that period, and the dates those transactions occurred. Ensure you use the correct total days for the specific period (e.g., 366 for a leap year).
Q7: What if I don't know the exact date of issuance/repurchase?
If exact dates aren't available, companies often use approximations. For example, if shares were issued throughout a quarter, a company might assume they were issued mid-quarter (effectively weighting them 50%). For simplicity and accuracy, using the exact date is best. If an estimate is necessary, document the assumption clearly.
Q8: How often should weighted average shares outstanding be calculated?
Public companies are required to calculate and report basic and diluted {{primary_keyword}} on their quarterly (10-Q) and annual (10-K) financial statements. Investors and analysts may calculate it more frequently for ongoing performance monitoring.
var ctx = null; // Global variable for chart context
var sharesChart = null; // Global variable for chart instance
function formatDateForInput(date) {
var d = new Date(date);
var month = " + (d.getMonth() + 1);
var day = " + d.getDate();
var year = d.getFullYear();
if (month.length < 2) month = '0' + month;
if (day.length < 2) day = '0' + day;
return [year, month, day].join('-');
}
function daysBetween(date1, date2) {
var oneDay = 24 * 60 * 60 * 1000; // hours*minutes*seconds*milliseconds
var diffMs = date2.getTime() – date1.getTime();
return Math.round(diffMs / oneDay) + 1; // +1 to include both start and end day
}
function calculateWeightedAverageShares() {
// Get input values
var sharesOutstandingStart = parseFloat(document.getElementById("sharesOutstandingStart").value);
var sharesOutstandingEnd = parseFloat(document.getElementById("sharesOutstandingEnd").value);
var sharesIssued = parseFloat(document.getElementById("sharesIssued").value);
var sharesRepurchased = parseFloat(document.getElementById("sharesRepurchased").value);
var periodDays = parseInt(document.getElementById("periodDays").value);
var sharesIssuedDateStr = document.getElementById("sharesIssuedDate").value;
var sharesRepurchasedDateStr = document.getElementById("sharesRepurchasedDate").value;
// — Input Validation —
var isValid = true;
// Clear previous errors
document.getElementById("sharesOutstandingStartError").style.display = 'none';
document.getElementById("sharesOutstandingEndError").style.display = 'none';
document.getElementById("sharesIssuedError").style.display = 'none';
document.getElementById("sharesRepurchasedError").style.display = 'none';
document.getElementById("periodDaysError").style.display = 'none';
document.getElementById("sharesIssuedDateError").style.display = 'none';
document.getElementById("sharesRepurchasedDateError").style.display = 'none';
if (isNaN(sharesOutstandingStart) || sharesOutstandingStart < 0) {
document.getElementById("sharesOutstandingStartError").textContent = "Please enter a valid non-negative number for shares outstanding at start.";
document.getElementById("sharesOutstandingStartError").style.display = 'block';
isValid = false;
}
if (isNaN(sharesOutstandingEnd) || sharesOutstandingEnd < 0) {
document.getElementById("sharesOutstandingEndError").textContent = "Please enter a valid non-negative number for shares outstanding at end.";
document.getElementById("sharesOutstandingEndError").style.display = 'block';
isValid = false;
}
if (isNaN(sharesIssued) || sharesIssued < 0) {
document.getElementById("sharesIssuedError").textContent = "Please enter a valid non-negative number for shares issued.";
document.getElementById("sharesIssuedError").style.display = 'block';
isValid = false;
}
if (isNaN(sharesRepurchased) || sharesRepurchased < 0) {
document.getElementById("sharesRepurchasedError").textContent = "Please enter a valid non-negative number for shares repurchased.";
document.getElementById("sharesRepurchasedError").style.display = 'block';
isValid = false;
}
if (isNaN(periodDays) || periodDays <= 0) {
document.getElementById("periodDaysError").textContent = "Please enter a valid positive number for total days in the period.";
document.getElementById("periodDaysError").style.display = 'block';
isValid = false;
}
// Date validation requires a reference date for the period start.
// For simplicity, we'll assume the reporting period STARTS at the beginning of the year
// and ENDS at the end of the year if no specific dates are given for the period itself.
// If specific dates for the *period start/end* were inputs, we'd use those.
// For now, we'll check if the entered dates are within a reasonable range or plausible.
// A more robust check would need the actual period start/end dates.
var periodStartDate = new Date(new Date().getFullYear(), 0, 1); // Assume Jan 1st of current year for example
var periodEndDate = new Date(new Date().getFullYear(), 11, 31); // Assume Dec 31st of current year for example
if (periodEndDate.getFullYear() !== periodStartDate.getFullYear()) {
// Adjust if period spans across year change, but for simplicity assume same year
}
if (periodDays !== daysBetween(periodStartDate, periodEndDate) && periodDays !== 365 && periodDays !== 366) {
// Optional: Add a warning if periodDays doesn't match typical year lengths, but allow custom values.
// console.log("Warning: periodDays might not match standard year lengths.");
}
var issuedDate = sharesIssuedDateStr ? new Date(sharesIssuedDateStr) : null;
var repurchasedDate = sharesRepurchasedDateStr ? new Date(sharesRepurchasedDateStr) : null;
// Basic date plausibility check
if (sharesIssuedDateStr && isNaN(issuedDate.getTime())) {
document.getElementById("sharesIssuedDateError").textContent = "Invalid date format for issuance.";
document.getElementById("sharesIssuedDateError").style.display = 'block';
isValid = false;
} else if (issuedDate && issuedDate periodEndDate) {
// More precise check: Is the date within the implicit period?
// Assuming periodStartDate and periodEndDate are representative.
// If the period itself was an input, we'd use those actual dates.
// document.getElementById("sharesIssuedDateError").textContent = "Issuance date must be within the reporting period.";
// document.getElementById("sharesIssuedDateError").style.display = 'block';
// isValid = false;
}
if (sharesRepurchasedDateStr && isNaN(repurchasedDate.getTime())) {
document.getElementById("sharesRepurchasedDateError").textContent = "Invalid date format for repurchase.";
document.getElementById("sharesRepurchasedDateError").style.display = 'block';
isValid = false;
} else if (repurchasedDate && repurchasedDate periodEndDate) {
// document.getElementById("sharesRepurchasedDateError").textContent = "Repurchase date must be within the reporting period.";
// document.getElementById("sharesRepurchasedDateError").style.display = 'block';
// isValid = false;
}
if (!isValid) {
document.getElementById("results-section").style.display = 'none';
return;
}
// — Calculations —
var weightedSharesIssued = 0;
var daysIssued = 0;
if (sharesIssued > 0 && sharesIssuedDateStr) {
issuedDate = new Date(sharesIssuedDateStr);
// Assuming periodStartDate is Jan 1st of current year for calculation simplicity
daysIssued = daysBetween(periodStartDate, issuedDate);
weightedSharesIssued = sharesIssued * (daysIssued / periodDays);
} else if (sharesIssued > 0 && !sharesIssuedDateStr) {
// If shares issued but no date, assume issued evenly throughout the period.
// This is a simplification. A common approach is to average.
// For a strict weighted average, a date is needed. If no date, maybe treat as issued at midpoint?
// Or simply weight 50% as a common convention for gradual issuance.
// Let's default to weighting 50% if no date is provided but shares were issued.
weightedSharesIssued = sharesIssued * 0.5; // Approximate weighting
console.log("Warning: No issuance date provided. Assuming 50% weighting for issued shares.");
}
var weightedSharesRepurchased = 0;
var daysRepurchasedOutstanding = 0;
if (sharesRepurchased > 0 && sharesRepurchasedDateStr) {
repurchasedDate = new Date(sharesRepurchasedDateStr);
// Days repurchased shares were OUTSTANDING = Total Period Days – Days they existed before repurchase
// Days they existed before repurchase = daysBetween(periodStartDate, repurchasedDate)
// Number of days they were NOT outstanding = daysBetween(repurchasedDate, periodEndDate)
// Weighting should reflect days they were OUTSTANDING before repurchase for the subtraction.
// A simpler way for subtraction: calculate days they were *not* outstanding.
var daysSinceRepurchase = daysBetween(repurchasedDate, periodEndDate);
weightedSharesRepurchased = sharesRepurchased * (daysSinceRepurchase / periodDays);
} else if (sharesRepurchased > 0 && !sharesRepurchasedDateStr) {
// If shares repurchased but no date, assume repurchased mid-period.
weightedSharesRepurchased = sharesRepurchased * 0.5; // Approximate weighting
console.log("Warning: No repurchase date provided. Assuming 50% weighting for repurchased shares.");
}
// The standard formula:
// Weighted Avg = Start Shares + Weighted Issued – Weighted Repurchased
// Where Start Shares are weighted 100%.
// Shares Issued are weighted by their time outstanding.
// Shares Repurchased are weighted by the time they were *not* outstanding (or equivalently, subtracted based on their duration outstanding before repurchase).
// Let's use the structure:
// Basic Shares = SharesOutstandingStart
// Weighted Issued = sharesIssued * (daysIssued / periodDays)
// Weighted Repurchased = sharesRepurchased * (daysRepurchasedOutstanding / periodDays) — where daysRepurchasedOutstanding refers to the days they were *not* outstanding
// Correct interpretation for subtraction:
// Shares outstanding from start: sharesOutstandingStart
// Add shares issued: sharesIssued * (days issued were outstanding / periodDays)
// Subtract shares repurchased: sharesRepurchased * (days repurchased shares were outstanding before repurchase / periodDays)
// Let's recalculate `weightedSharesRepurchased` to reflect the time they were outstanding before repurchase.
// If repurchased on Day X, they were outstanding for X days.
// This seems counterintuitive for subtraction. The common method is:
// Weighted Avg = S_start + S_issued*(t_i/T) – S_repurchased*(t_r/T)
// Where t_i is days outstanding for issued shares, T is total days.
// And t_r is days outstanding for repurchased shares *before* repurchase.
// Let's simplify using the structure from the formula explanation.
// Weighted Avg = Basic Shares Outstanding + Σ (Shares Issued * Time Weighting) – Σ (Shares Repurchased * Time Weighting)
// The issue lies in how "Time Weighting" for repurchase is interpreted.
// It's typically the fraction of the period the shares were *outstanding*.
// If repurchased on Day X, they were outstanding for X days.
// So, `weightedSharesRepurchased` should be: sharesRepurchased * (daysIssued / periodDays) if using issuedDate for repurchase logic.
// Re-evaluating the formula and calculator logic:
// 1. Shares at start are weighted 100%.
// 2. Shares issued are weighted by the fraction of the period they were outstanding.
// 3. Shares repurchased are weighted by the fraction of the period they were *not* outstanding (because they reduce the average).
// Let's stick to the direct implementation:
// Weighted Issued = sharesIssued * (daysIssued / periodDays)
// Weighted Repurchased = sharesRepurchased * (days remaining in period after repurchase / periodDays)
// This seems to be the standard interpretation.
var finalWeightedSharesRepurchased = 0;
if (sharesRepurchased > 0 && sharesRepurchasedDateStr) {
repurchasedDate = new Date(sharesRepurchasedDateStr);
var daysAfterRepurchase = daysBetween(repurchasedDate, periodEndDate); // days from repurchase date TO end of period
finalWeightedSharesRepurchased = sharesRepurchased * (daysAfterRepurchase / periodDays);
} else if (sharesRepurchased > 0 && !sharesRepurchasedDateStr) {
finalWeightedSharesRepurchased = sharesRepurchased * 0.5; // Approx
}
var weightedAverageShares = sharesOutstandingStart + weightedSharesIssued – finalWeightedSharesRepurchased;
// Ensure result is not negative due to calculation quirks or extreme inputs
if (weightedAverageShares 0 ? (sharesIssuedDateStr ? (sharesIssued * (daysIssued / periodDays)) : (sharesIssued * 0.5)) : 0;
var componentRepurchased = sharesRepurchased > 0 ? (sharesRepurchasedDateStr ? (sharesRepurchased * (daysAfterRepurchase / periodDays)) : (sharesRepurchased * 0.5)) : 0;
// Display results
document.getElementById("weightedSharesIssued").textContent = "Weighted Effect of Shares Issued: " + componentIssued.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("weightedSharesRepurchased").textContent = "Weighted Effect of Shares Repurchased: " + componentRepurchased.toLocaleString(undefined, {maximumFractionDigits: 0});
// The 'effectiveSharesOutstandingEnd' might be confusing. Let's just display the main result clearly.
// Or, show the calculation step-by-step.
document.getElementById("effectiveSharesOutstandingEnd").textContent = "Shares Outstanding at Start (Weighted): " + sharesOutstandingStart.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("weightedAverageShares").textContent = weightedAverageShares.toLocaleString(undefined, {maximumFractionDigits: 0}) + " Shares";
document.getElementById("results-section").style.display = 'block';
// Update Table
document.getElementById("tableSharesStart").textContent = sharesOutstandingStart.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("tableSharesIssued").textContent = sharesIssued.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("tableSharesRepurchased").textContent = sharesRepurchased.toLocaleString(undefined, {maximumFractionDigits: 0});
document.getElementById("tableSharesEnd").textContent = sharesOutstandingEnd.toLocaleString(undefined, {maximumFractionDigits: 0});
var weightIssuedDisplay = sharesIssuedDateStr ? (daysIssued + "/" + periodDays) : "Approx. 50%";
var weightRepurchasedDisplay = sharesRepurchasedDateStr ? (daysAfterRepurchase + "/" + periodDays) : "Approx. 50%";
document.getElementById("weightingIssued").textContent = weightIssuedDisplay;
document.getElementById("weightingRepurchased").textContent = weightRepurchasedDisplay;
// Update Chart
updateChart(sharesOutstandingStart, componentIssued, componentRepurchased, sharesOutstandingEnd, periodDays);
}
function updateChart(startShares, weightedIssuedEffect, weightedRepurchasedEffect, endShares, totalDays) {
if (!ctx) {
var canvas = document.getElementById('sharesChart');
ctx = canvas.getContext('2d');
}
// Destroy previous chart instance if it exists
if (sharesChart) {
sharesChart.destroy();
}
// Calculate intermediate points for a smoother chart representation
var midPointDay = Math.floor(totalDays / 2);
var startOfPeriodDate = new Date(new Date().getFullYear(), 0, 1); // Assume Jan 1st
var issuedDate = document.getElementById("sharesIssuedDate").value ? new Date(document.getElementById("sharesIssuedDate").value) : null;
var repurchasedDate = document.getElementById("sharesRepurchasedDate").value ? new Date(document.getElementById("sharesRepurchasedDate").value) : null;
var sharesAtMidpoint = startShares;
var issuedDayOffset = issuedDate ? daysBetween(startOfPeriodDate, issuedDate) : -1;
var repurchasedDayOffset = repurchasedDate ? daysBetween(startOfPeriodDate, repurchasedDate) : -1;
// Simplified chart data representing key points
var chartLabels = ['Start', 'End'];
var chartDataShares = [startShares, endShares]; // Raw start and end
// Add issuance point if exists
if (issuedDate && issuedDayOffset > 0 && issuedDayOffset 0 && repurchasedDayOffset 0 && issuedDayOffset 0 ? (sharesIssued * (issuedDayOffset / totalDays)) : 0); // This calculation is complex.
// Let's simplify: plot start, a mid-point based on average, and end.
// Charting the components:
// Series 1: Shares Outstanding at Start (constant)
// Series 2: Weighted Average Shares Outstanding (final calculated value)
// Series 3: Shares Outstanding at End (constant)
chartLabels = ['Period Start', 'Period End'];
var seriesStart = [startShares, startShares];
var seriesEnd = [endShares, endShares];
var seriesWeightedAvg = [finalWeightedAverage, finalWeightedAverage];
sharesChart = new Chart(ctx, {
type: 'line',
data: {
labels: chartLabels,
datasets: [
{
label: 'Shares Outstanding (Start)',
data: seriesStart,
borderColor: 'rgba(0, 74, 153, 1)', // Primary color
backgroundColor: 'rgba(0, 74, 153, 0.1)',
fill: false,
tension: 0.1,
pointRadius: 5,
pointHoverRadius: 7
},
{
label: 'Weighted Average Shares',
data: seriesWeightedAvg,
borderColor: 'rgba(40, 167, 69, 1)', // Success color
backgroundColor: 'rgba(40, 167, 69, 0.1)',
fill: false,
tension: 0.1,
pointRadius: 5,
pointHoverRadius: 7
},
{
label: 'Shares Outstanding (End)',
data: seriesEnd,
borderColor: 'rgba(255, 193, 7, 1)', // Warning color
backgroundColor: 'rgba(255, 193, 7, 0.1)',
fill: false,
tension: 0.1,
pointRadius: 5,
pointHoverRadius: 7
}
]
},
options: {
responsive: true,
maintainAspectRatio: true,
plugins: {
title: {
display: true,
text: 'Weighted Average Shares Outstanding vs. Period Extremes',
font: { size: 16 }
},
legend: {
position: 'top',
}
},
scales: {
x: {
title: {
display: true,
text: 'Period Point'
}
},
y: {
title: {
display: true,
text: 'Number of Shares'
},
beginAtZero: true
}
}
}
});
} else {
// Handle case where chart context might not be ready yet
// Or if there's an error initializing Chart.js
console.error("Chart context not available or Chart.js not loaded.");
}
}
function resetCalculator() {
document.getElementById("sharesOutstandingStart").value = "1000000";
document.getElementById("sharesOutstandingEnd").value = "1200000";
document.getElementById("sharesIssued").value = "200000";
document.getElementById("sharesRepurchased").value = "0";
document.getElementById("periodDays").value = "365";
document.getElementById("sharesIssuedDate").value = formatDateForInput(new Date(new Date().getFullYear(), 6, 1)); // July 1st
document.getElementById("sharesRepurchasedDate").value = "";
// Clear errors and hide results
document.getElementById("sharesOutstandingStartError").style.display = 'none';
document.getElementById("sharesOutstandingEndError").style.display = 'none';
document.getElementById("sharesIssuedError").style.display = 'none';
document.getElementById("sharesRepurchasedError").style.display = 'none';
document.getElementById("periodDaysError").style.display = 'none';
document.getElementById("sharesIssuedDateError").style.display = 'none';
document.getElementById("sharesRepurchasedDateError").style.display = 'none';
document.getElementById("results-section").style.display = 'none';
// Clear chart
if (sharesChart) {
sharesChart.destroy();
sharesChart = null;
}
var canvas = document.getElementById('sharesChart');
if (canvas && ctx) {
ctx.clearRect(0, 0, canvas.width, canvas.height);
}
}
function copyResults() {
var weightedAverageShares = document.getElementById("weightedAverageShares").textContent;
var weightedSharesIssued = document.getElementById("weightedSharesIssued").textContent;
var weightedSharesRepurchased = document.getElementById("weightedSharesRepurchased").textContent;
var effectiveSharesOutstandingEnd = document.getElementById("effectiveSharesOutstandingEnd").textContent; // This is likely redundant or mislabeled.
// Let's copy the key intermediate values shown
var intermediateValues = [];
var elements = document.querySelectorAll('.intermediate-results div');
elements.forEach(function(el) {
intermediateValues.push(el.textContent);
});
var startShares = document.getElementById("sharesOutstandingStart").value;
var endShares = document.getElementById("sharesOutstandingEnd").value;
var issuedShares = document.getElementById("sharesIssued").value;
var repurchasedShares = document.getElementById("sharesRepurchased").value;
var periodDays = document.getElementById("periodDays").value;
var issuedDate = document.getElementById("sharesIssuedDate").value;
var repurchasedDate = document.getElementById("sharesRepurchasedDate").value;
var copyText = "— Weighted Average Shares Outstanding Calculation —" + "\n\n";
copyText += "Key Assumptions:" + "\n";
copyText += "- Shares Outstanding at Period Start: " + startShares + "\n";
copyText += "- Shares Issued During Period: " + issuedShares + "\n";
copyText += "- Shares Repurchased During Period: " + repurchasedShares + "\n";
copyText += "- Total Days in Period: " + periodDays + "\n";
copyText += "- Date of Share Issuance: " + (issuedDate || 'N/A') + "\n";
copyText += "- Date of Share Repurchase: " + (repurchasedDate || 'N/A') + "\n\n";
copyText += "Results:" + "\n";
copyText += "- Weighted Average Shares Outstanding: " + weightedAverageShares + "\n";
intermediateValues.forEach(function(val) {
copyText += "- " + val + "\n";
});
navigator.clipboard.writeText(copyText).then(function() {
alert("Results copied to clipboard!");
}, function(err) {
console.error("Failed to copy results: ", err);
alert("Failed to copy results. Please copy manually.");
});
}
function toggleFaq(element) {
var answer = element.nextElementSibling;
if (answer.style.display === "block") {
answer.style.display = "none";
} else {
answer.style.display = "block";
}
}
// Initialize default dates for date inputs if possible
document.addEventListener('DOMContentLoaded', function() {
var today = new Date();
var year = today.getFullYear();
var defaultIssuedDate = new Date(year, 6, 1); // July 1st
var defaultRepurchasedDate = new Date(year, 9, 1); // October 1st
document.getElementById('sharesIssuedDate').value = formatDateForInput(defaultIssuedDate);
document.getElementById('sharesRepurchasedDate').value = formatDateForInput(defaultRepurchasedDate); // Optional: set a default repurchase date too
// Set initial values for calculation upon load if desired
// resetCalculator(); // Or call calculateWeightedAverageShares() directly after setting defaults
// calculateWeightedAverageShares(); // To show initial calculation based on defaults
// Initialize chart
var canvas = document.getElementById('sharesChart');
if (canvas) {
ctx = canvas.getContext('2d');
// Initial chart render with default values
updateChart(
parseFloat(document.getElementById("sharesOutstandingStart").value),
0, // placeholder for initial calc
0, // placeholder for initial calc
parseFloat(document.getElementById("sharesOutstandingEnd").value),
parseInt(document.getElementById("periodDays").value)
);
} else {
console.error("Canvas element not found for chart initialization.");
}
});