Share count +5.8% in a year
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 1 sale of new shares, 2 shelf registrations; also 2 notes offerings, 2 resales by holders.
- Aug 12, 2026 Sale of 210.5M new shares 424B5
- Aug 10, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR
- Jan 23, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR
Every offering filing →“We are offering 210,526,315 shares of our common stock, par value $0.001 per share (“common stock”).”
424B5, Aug 12, 2026 ↗
Bought back
-
no buyback line in the 10-K XBRL, year to Dec 27, 2025
Diluted shares: 4.53B in the year to Dec 27, 2025 2025 +5.8%2024 +1.6%2023 +2.2%2022 +0.8%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
FY2025, from the cash flow statement in the 10-K, added up.
Came from
| Operating cash flow | $9.7B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$15.2B |
Went to
| Capital spending | $14.6B |
| Debt repaid | $3.8B |
| Added to cash | $6.5B |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2025-12-27 | - | $0 | $2.4B | - | 4.53B |
| 2024-12-28 | - | $1.6B | $3.4B | - | 4.28B |
| 2023-12-30 | $0 | $3.1B | $3.2B | - | 4.21B |
| 2022-12-31 | $0 | $6.0B | $3.1B | - | 4.12B |
| 2021-12-25 | $2.4B | $5.6B | $2.0B | - | 4.09B |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.