It seem that Yahoo Finance has recently included a new (?) field they call Implied Shares Outstanding. However, I cannot find the exact definition of this term anywhere. The only thing I can find is Implied Value Per Share, which is better known as earnings per share, but I don't think that is what they mean.

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Q: So what is the meaning of Implied Shares Outstanding (in Yahoo Finance's Statistics)?

2 Answers 2


Footnote 6 explains what that means:

6 Implied Shares Outstanding of common equity, assuming the conversion of all convertible subsidiary equity into common.

There could be shares of subsidiaries of TSLA (probably through acquisition) that are convertible to TSLA shares. The Implied Shares Outstanding shows you how many shares outstanding TSLA would have if all of those shares were to be converted to TSLA stock.

  • Thanks, I was reading that, but it didn't make any sense at the time. Now it does.
    – not2qubit
    Commented May 7, 2021 at 22:11

This has to do with Class A and Class B shares. Class A is usually Shares outstanding, combining both A and B gives you implied

  • how should an investor think about it then? It can make the market cap look significantly different
    – james6125
    Commented Jan 21, 2022 at 16:56
  • For Yahoo Finance they use the implied shares outstanding to calculate the market cap. Implied shares outstanding should be a more accurate description for trading and investing purposes since there's nothing about Class B shares that can't also be traded or sold
    – Daniel Lee
    Commented May 2, 2022 at 20:47

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