The company exhibits a very strong anti-dilutive profile due to its robust financial position and aggressive share repurchase program. Dilution is minimal and limited to employee stock plans, which is more than offset by buybacks.
Float & OS: 23,279,551,470 / 24,300,000,000
Est. Runway: >10 years
Risk Metrics
Overall Risk
LOW
Offering Ability
HIGH
Cash Need
LOW
Float Risk
LOW
Dilution Data
Warrants
No dilutive warrants issued by the company were identified. The company received warrants from a partner as part of a facility lease guarantee, but these are an investment and not dilutive to its own stock.
Convertible Notes
No convertible notes were identified. The company's outstanding notes are fixed-rate and not convertible into equity.
Convertible Preferred
The company's balance sheets show no preferred stock outstanding.
ATMs
No At-The-Market (ATM) programs were identified.
Equity Lines
No equity lines of credit were identified.
Additional Notes
Stock-Based Compensation: The company has ongoing dilution from its equity incentive plans (RSUs, PSUs, ESPP).
As of October 26, 2025, there were 203 million awards outstanding.
Dilutive impact on weighted average shares was 156 million for the three months ended October 26, 2025.
Common Stock Issuance: Issuances are primarily related to employee stock plans.
42 million shares were issued in the three months ended October 26, 2025.
129 million shares were issued in the nine months ended October 26, 2025.
Share Repurchases (Anti-Dilutive): The company actively repurchases shares, significantly offsetting dilution from employee plans.
Repurchased 70 million shares in the three months ended October 26, 2025.
Repurchased 262 million shares in the nine months ended October 26, 2025, more than double the shares issued in the same period.
A repurchase authorization of $62.2 billion remained as of October 26, 2025.
Tax Withholding on Equity Awards (Anti-Dilutive): The company withholds shares for tax purposes, reducing the number of shares entering the market.
14 million shares were withheld in the three months ended October 26, 2025.
39 million shares were withheld in the nine months ended October 26, 2025.