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Katherine · 2023年05月05日

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NO.PZ2016012102000037

问题如下：

At the beginning of the year, PZ company had 200,000 shares of common stock outstanding. On May 31, Share issued 50,000 shares of common stock. And Share issued a 15% stock dividend on June1. On October 1, the company issued 1,000, 10% bonds, each can be converted into 10 shares of common stock. In computing basic and diluted EPS, what is the weighted average number of shares to be used assuming the convertible bonds are dilutive?

选项：

Average shares, basic
Average shares, dilutive

A.

263,542
273,542

B.

263,542
230,200

C.

178,900
236.042

解释：

Basic shares = {[200,000 x (12 / 12)] + [50,000 x (7 / 12)]} x 1.15 = 263,542

Diluted shares = 263,542 + 10,000 =273,542

考点：股数计算

Basic shares = {[200,000 x (12 / 12)] + [50,000 x (7 / 12)]} x 1.15 = 263,542

* 5月底发行的50,000股，需要按时间加权。

** 乘以 1.15，是因为发了15%的股票股利

Diluted shares = 263,542 + 10,000 =273,542

在算diluted EPS的时候，如果有convertible bond的话，convertible bond转成的股票是不考虑时间加权的，就视同最初发行的一样。是直接加上convertible bond转股后的股份数。

什么是shares 怎么计算

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1 个答案

王园圆_品职助教 · 2023年05月05日

同学你好，这是基础班一个视频课的内容，助教这里只能简单跟你描述一下，建议你还是回去听一下基础班相关课程：在基础班Module1understanding income statement里面的Earnings per share （EPS）里面的Basic EPS这个视频里

shares就是公司在外发行的股票数量，这里其实计算的是weighted average number of common shares的值

因为公司历史就有20万shares，所以这20万shares是全额计入的，而5月1号发行的5万shares则需要按照时间加权（*5/12),由于公司还进行了股票分红，股票分红不进行时间加权，所以需要把5万shares另外乘以（1+15%），计算就是 {[200,000 x (12 / 12)] + [50,000 x (7 / 12)]} x 1.15= 263,542

而可转债因为是带有稀释效应的，也需要计算导致新增的shares数量：1000*10

所以最后的shares = Diluted shares = 263,542 + 10,000 =273,542

对应的是以下两个讲义截图中黄色部分的内容


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