QuoteMedia has introduced two new shares outstanding values to our xml/json services and will work towards deprecating the legacy <sharesoutstanding> field in favor of the following. These values will be added to our QMod component tools as well.
(a) totalsharesoutstanding (Total Shares)
The Total Shares Outstanding amount is considered equal to the entity level Shares Outstanding (aka includes shares outstanding based on all instruments for the company).
(b) shareclasslevelsharesoutstanding (Shares Out. - or - could be referred to as Shares Issued and Outstanding)
The Shares Outstanding amount is considered equal to the instrument level Share Class Level Shares Outstanding (aka includes shares outstanding based solely on the one instrument).
The Shares Out. amount can sometimes be higher than Total Shares Outstanding because it includes both issued and outstanding shares for the instrument whereas Total Shares Outstanding includes outstanding shares only. In addition, Treasury stock consists of shares issued but not outstanding. That is the reason as why they are not included in TSO calculation but instead included in the Share class level value.
Market cap for TSX/TSXV symbols will start to be calculated based on Total Shares Outstanding for companies that have more than one share class. This will bring it in line with how QuoteMedia calculates market cap for US symbols as well and is the industry standard. This was anticipated completed in xml/json and QMod services in summer 2019.
Note: getCompanyBySymbol and getCompanyByExchange missed the update to marketcap output for TSX/TSXV symbols and will be updated in April 2020.