how to find float of a stock — complete guide

How to find the float of a stock

Short description: This guide explains how to find float of a stock (public/free float) for U.S. equities, shows where to look in filings and on public sites, demonstrates a worked example, and draws an analogy with crypto circulating supply. Read on to learn practical verification steps and troubleshooting tips to validate float figures before trading.

As of 2025-12-31, according to FinancialModelingPrep and other data providers, investors increasingly check float figures programmatically and via aggregators to monitor liquidity and short-risk. Knowing how to find float of a stock helps traders and analysts assess volatility and execution risk.

Definition and related terms

Public float (often called "free float" or simply "float") is the number of a company's shares that are available for public trading. In most contexts, float equals shares outstanding minus shares that are restricted, locked, held by insiders, or otherwise not freely tradable.

Related terms you should know:

• Outstanding shares: The total number of shares a company has issued and that exist at a point in time. This includes both public and restricted shares.
• Authorized shares: The maximum number of shares a company can issue under its corporate charter. Authorization does not mean the shares are issued.
• Restricted shares: Shares that cannot be sold immediately due to lockups, vesting schedules, or regulatory restrictions; common for founders, employees, and some pre-IPO investors.
• Treasury shares: Shares that a company has repurchased and holds in its treasury. These are issued but not outstanding.
• Insider holdings / beneficial ownership: Shares owned by officers, directors, and large institutional holders. Some insider shares may be freely traded while others are restricted.

Knowing the distinction between outstanding shares and float is crucial: outstanding is a legal count; float is a practical measure of what can change hands on the open market.

Why float matters

Float directly affects liquidity and price behavior. A small float means fewer shares are available to absorb buy or sell pressure, often increasing price volatility.

• Liquidity: Lower float usually implies lower available supply for trading, which can widen bid-ask spreads and make large orders move the price.
• Volatility: With fewer tradable shares, even modest demand changes can cause large percentage swings.
• Short squeezes: Short interest measured against float can create extreme price moves if short sellers rush to cover and available shares are limited.
• Index and ETF inclusion: Many indices and ETFs apply float adjustments when weighting constituents; float influences index representation and passive flows.

Traders, corporate analysts, and index providers rely on float to model market impact and risk. Institutional desks also use float to size orders and estimate slippage.

Official primary sources to determine float

Primary and authoritative sources for share counts and restrictions are company disclosures filed with regulators and published on investor relations pages.

Key documents to check:

• Annual report (Form 10-K) and quarterly reports (Form 10-Q): include shares outstanding and notes on stock-based compensation.
• Registration statements (S-1) and prospectuses: detail share classes, lockups, and pre-IPO holdings.
• Proxy statements (DEF 14A): include beneficial ownership tables showing insider and large-holder stakes.
• Current reports (Form 8-K): report material issuances, offerings, or share buybacks that change float.

These filings provide the legal counts and disclosures you need to compute float from raw data.

Which line items to look for in filings

When reading filings, look for the following line items and sections:

• Shares outstanding (commonly in the balance sheet under "Common stock, par value" and in the notes). The filing will usually state the number of shares outstanding as of a specific date.
• Stock-based compensation notes: describe unvested restricted stock units (RSUs), options, and their vesting schedules.
• Beneficial ownership tables (in the proxy): list shares held by executives, directors, and large shareholders—useful for estimating how many shares are likely locked up.
• "Lock-up" or "vested/unvested" language in registration statements: explicit locked periods for founder and early investor shares.
• Treasury stock and buyback disclosures: repurchased shares may lower outstanding shares if retired, or be held as treasury shares that reduce outstanding counts.

Primary filings will usually give the dates tied to share counts—always note the reporting date to reconcile timing differences.

Common public websites, screeners and aggregators

Secondary sources provide quick-access float figures and are helpful for screening and day-to-day checks. Common places to look include financial portals, stock screeners, and brokerage quote pages.

Examples of widely-used providers:

• Yahoo Finance: lists both "Shares Outstanding" and "Float" on company quote pages and has screeners to filter by float size.
• Finviz: provides float as a data column in its screener and quick snapshot pages, useful for scanning low-float names.
• Company investor relations: many IR pages display share counts and press releases summarizing share actions.

These sites are convenient but may differ due to update frequency and interpretation of restricted shares.

Aggregator tools and sites that compare float values

Specialized services aggregate float values from multiple providers and highlight discrepancies. Know The Float is an example that compares float across sources to help spot conflicts.

Why aggregators are useful:

• Cross-checking: Spot providers that are out of date or use different definitions.
• Time-stamp awareness: Aggregators usually display the time of the latest update so you can pick the freshest figure.
• Bulk analysis: Useful when screening many tickers for low-float opportunities.

As of 2025-12-31, according to Know The Float comparisons, discrepancies between data providers are common—validate with primary filings when precision matters.

Using APIs and programmatic access

For repeated checks, research, or automation, financial data APIs provide endpoints that return float and related share counts in machine-readable form.

Example of API functionality:

• FinancialModelingPrep: provides endpoints for "Company Share Float" and "All Shares Float" that return fields such as sharesOutstanding, float, and timestamp. The API can be queried by ticker and typically returns JSON with numeric fields and dates.

Typical parameters and response fields you’ll see:

• Ticker symbol (required)
• Date or period (optional)
• sharesOutstanding: total issued shares
• float: provider’s computed public float
• lastUpdated or timestamp: when the provider updated the record

As of 2025-12-31, FinancialModelingPrep documents that their share float endpoints are designed for programmatic ingestion; check rate limits and field definitions when integrating.

Practical tips for API use:

• Always capture timestamp fields and cache them with your queries.
• Cross-check API float values with filings when building trading models.
• Handle multiple share classes by mapping class-specific float fields where available.

Step-by-step practical method to find float (quick guide)

A concise checklist to determine float quickly and reliably:

1. Look up the company’s latest SEC filing (10-K, 10-Q, or S-1) and find shares outstanding as of the report date.
2. Read the notes on stock-based compensation, restricted stock, and vesting to estimate locked shares.
3. Check the proxy (DEF 14A) for beneficial ownership tables to see insider holdings and potential locked volumes.
4. Visit the company IR page for press releases that may change share counts (e.g., buybacks, secondary offerings).
5. Verify the figure on at least two major public sites (Yahoo Finance, Finviz) and note their update timestamps.
6. Use an aggregator (e.g., Know The Float) or an API (FinancialModelingPrep) to compare and automate checks.
7. Reconcile differences by checking filing dates and recent corporate actions; if necessary, contact Investor Relations for clarification.

Following these steps ensures your float figure reflects the latest authoritative data and practical trading availability.

How float is calculated (formula and example)

Typical formula:

float ≈ shares outstanding − restricted/locked shares

Note: Some providers exclude certain large passive holdings or apply additional adjustments; the above is the common baseline.

Worked numeric example (simple):

• Shares outstanding (from latest 10-Q): 200,000,000
• Restricted shares (insider locked + unvested RSUs): 30,000,000
• Float = 200,000,000 − 30,000,000 = 170,000,000
• Float as percent of outstanding = 170,000,000 / 200,000,000 = 85%

This example shows how to compute float and interpret the share of public tradable supply relative to total issuance.

Reasons for discrepancies between sources

Multiple factors cause different float figures across providers:

• Timing differences: Providers update at different frequencies; a secondary offering or repurchase may be reported on one site before another updates.
• Definition differences: Some services consider certain large institutional holdings as part of float, others do not; definitions of "restricted" can vary.
• Multiple share classes: If a company has Class A and Class B shares, some providers aggregate classes differently or omit one class in float totals.
• Corporate actions: Recent splits, mergers, offerings, or cancellations can change counts; look for effective dates in filings.
• Data errors: Transcription or parsing errors can happen; always reconcile with primary filings if numbers drive trading decisions.

When sources disagree, prioritize SEC filings and company IR statements, then seek confirmation from aggregators and API timestamps.

Special situations and caveats

Several situations complicate float calculations:

• Dual-/multi-class shares: Different classes may have different voting rights and tradability. Determine whether float refers to one class or combined classes.
• Recent issuances and buybacks: Newly issued shares or repurchases can alter outstanding and float; note effective dates.
• Treasury shares: Treatment depends on whether repurchased shares are retired or held in treasury; check the filing’s treatment.
• Share lending and shortable supply: The number of shares that can be borrowed for shorting is not always equal to float—borrow availability depends on broker inventory and prime brokers’ lending programs.
• Cross-listed securities and ADRs: Float for ADRs may reflect only the ADR layer while the issuer’s domestic float remains separate. Reconcile both when needed.

These caveats mean a precise float number may require reading multiple company disclosures and considering market microstructure.

Float-related metrics traders watch

Common derived metrics that use float:

• Short interest as percent of float: shortInterest / float. High values indicate significant short exposure relative to available shares.
• Float-to-outstanding ratio: float / sharesOutstanding. A low ratio signals a large portion is locked or held by insiders.
• Average daily volume (ADV) as percent of float: ADV / float. This helps estimate how many days it would take to execute a large order.
• Days to cover (short interest / ADV): combined with float to estimate potential squeeze pressure.

These metrics help traders size positions, estimate slippage, and gauge short squeeze risk.

Low-float stocks and market behavior

Low-float stocks (often defined arbitrarily as float below certain thresholds like 5–20 million shares) exhibit distinct market behavior:

• Higher volatility and larger intraday swings due to limited supply available to trade.
• Wider bid-ask spreads and more pronounced price impact for sizeable orders.
• Greater susceptibility to manipulation or rapid momentum runs in thinly-traded venues.
• Potentially attractive to high-risk day traders seeking quick moves, but risky for long-term investors due to potential illiquidity.

Risk management is essential when trading low-float names: keep position sizing conservative and be prepared for rapid price moves and limited exit liquidity.

Float vs crypto circulating supply — analogy and differences

Analogy:

• Stock float ≈ Crypto circulating supply: both represent the amount of an asset available for market trading and price formation.

Key differences:

• Issuance and control: Stocks are issued by corporations and subject to regulatory filings; tokens may have predefined issuance schedules and smart-contract rules.
• Vesting and lockups: Both sides can have vesting, but crypto often has tokenomics with scheduled unlocks visible on-chain, while shares rely on filings.
• On-chain transparency: For tokens, transfers and supply are visible on-chain; for stocks, ownership is often off-chain and only disclosed periodically.

For Web3 projects, Bitget Wallet and token explorers provide on-chain summaries of circulating supply and vesting schedules, while for equities you must rely on filings and aggregators.

Advanced: calculating float from raw filings (worked example)

This worked example walks through deriving float from public filings for a hypothetical company, "Acme Tech, Inc." (fictional):

1. Find shares outstanding on the balance sheet (10-Q dated 2025-09-30): the notes state 120,000,000 shares outstanding as of that date.
2. Search the 10-Q notes for stock-based compensation and RSUs: the filing shows 12,000,000 unvested RSUs and 3,000,000 unexercised options that are not yet vested.
3. Check the proxy (DEF 14A) dated 2025-04-15 for beneficial ownership: five insiders own 35,000,000 shares, of which 28,000,000 are contractually restricted for 12 months after the IPO.
4. Confirm any treasury holdings or retirements: the 8-K dated 2025-10-01 announced a repurchase of 2,000,000 shares which the company retired, so retired shares are excluded from outstanding (the 10-Q already reflects this if dated after the repurchase).

Compute float:

• Adjusted shares outstanding = 120,000,000 (as of 2025-09-30)
• Restricted/locked shares = 12,000,000 (RSUs unvested) + 28,000,000 (insider lockup) = 40,000,000
• Float = 120,000,000 − 40,000,000 = 80,000,000
• Float % = 80,000,000 / 120,000,000 = 66.7%

Cross-check:

• Visit Yahoo Finance and Finviz to see their float estimates and timestamps. If Yahoo lists float as 82,000,000 but shows last update before the latest 8-K repurchase, the difference likely arises from timing. Reconcile using filing dates.

This hands-on method demonstrates how to extract numbers, apply logical adjustments, and reconcile provider differences.

Frequently asked questions (FAQ)

Q: Is float the same as outstanding shares? A: No. Float is typically shares outstanding minus restricted/locked shares. Outstanding is the total legally issued shares at a reporting date.

Q: Where do I find float for ADRs or dual-class shares? A: For ADRs, check issuer disclosures and the ADR depositary’s statements. For dual-class shares, identify which class you’re examining and compute float per class if providers separate them.

Q: How often does float update? A: Float updates when companies file changes (10-Q, 10-K, 8-K, proxy) or when data providers refresh their databases. Some providers update daily; others update only after filings.

Q: Do buybacks reduce float? A: Buybacks may reduce outstanding shares if shares are retired. If held as treasury shares, they typically reduce the public availability of shares but treatment can vary; check company disclosures.

Q: Does float include shares lent out for shorting? A: Shares on loan are still part of float; however, shortable supply depends on broker lending inventories which can fluctuate independently of float.

Practical checklist and troubleshooting

Quick checklist when verifying float:

• Check the filing date: ensure your source’s timestamp is newer than the last filing.
• Verify shares outstanding in the balance sheet and confirm whether repurchases were retired.
• Add up clearly restricted/unvested shares from notes and proxy statements.
• Compare at least two public data providers and use an aggregator if numbers differ materially.
• If discrepancies persist, contact the company’s Investor Relations for clarification.

Troubleshooting steps:

• If a provider’s float seems off by a material amount, look for recent 8-K or 10-Q that changed share counts.
• For ADRs or cross-listings, reconcile local and ADR-layer supplies.
• When dealing with stock splits, reverse splits, or mergers, pay attention to effective dates and ratio conversions.

References and further reading

Primary and authoritative sources:

• SEC filings (10-K, 10-Q, S-1, DEF 14A, 8-K) — primary legal disclosures of share counts.
• Company investor relations pages and press releases — official company statements on share actions.

Useful secondary sources and explainers:

• Know The Float — aggregator and cross-provider comparisons of float.
• FinancialModelingPrep API — programmatic endpoints for shares outstanding and float.
• Yahoo Finance and Finviz — convenient public screens and float figures.
• Motley Fool and SoFi explainers — accessible explanations of float and outstanding shares.
• Wikipedia entry on public float — general overview of definitions and uses.

As of 2025-12-31, data provider documentation and aggregator comparisons remain essential for timely verification.

Notes on sourcing and usage

• Primary SEC filings and company IR disclosures are authoritative. Secondary websites are convenient but can use different definitions or lags.
• APIs and aggregators are useful for automation, but always track timestamps and reconcile via filings for high-stakes decisions.
• This guide is informational and not investment advice. Base trading decisions on verified, up-to-date filings and your own risk management.

Brand note and practical tools

For traders and investors interacting with both equities and tokens, Bitget provides market data and trading services alongside Bitget Wallet for on-chain verification of token circulating supply and vesting schedules.

If you monitor crypto circulating supply as an analogue to equity float, Bitget Wallet and Bitget’s market data tools can help you inspect token holdings and vesting events in a user-friendly interface.

Further exploration and action

Now that you know how to find float of a stock, implement a short verification routine:

• Start by checking the latest 10-Q/10-K for your ticker.
• Confirm restricted shares in the notes and proxy.
• Use a data API for automation and an aggregator to spot discrepancies.
• For token projects, complement filings with on-chain checks via Bitget Wallet.

Want real-time monitoring? Consider integrating a data API for automated checks and setting alerts for corporate actions that change float.

Final practical example recap (short)

• Example company: outstanding 200M, restricted 30M → float 170M (85%).
• Check filings, then cross-check with Yahoo Finance and an aggregator. If providers disagree, prioritize the filing dates and contact IR if necessary.

As of 2025-12-31, according to FinancialModelingPrep and Yahoo Finance documentation and aggregator observations, this verification pattern remains the most reliable way to confirm float.

Call to action

Explore Bitget’s market tools and Bitget Wallet to monitor both stock-like metrics for tokens and crypto circulating supply with timestamped on-chain data. Use this guide’s checklist to validate float figures before trading or modeling.