{"slug":"warrants-vs-call-options","qid":"dilution_wedge","label":"Basic and diluted share counts across eight large caps","post_title":"Warrants vs Call Options: Key Differences","post_url":"/blog/warrants-vs-call-options#q-dilution_wedge","columns":["ticker","basic_shares_m","diluted_shares_m","dilution_gap_pct"],"rows":[{"ticker":"TSLA","basic_shares_m":3214.7,"diluted_shares_m":3514.8,"dilution_gap_pct":9.34},{"ticker":"AMZN","basic_shares_m":10590.7,"diluted_shares_m":10787.8,"dilution_gap_pct":1.86},{"ticker":"F","basic_shares_m":3977.3,"diluted_shares_m":4009.5,"dilution_gap_pct":0.81},{"ticker":"NVDA","basic_shares_m":24430.6,"diluted_shares_m":24619.6,"dilution_gap_pct":0.77},{"ticker":"PFE","basic_shares_m":5675.2,"diluted_shares_m":5707,"dilution_gap_pct":0.56},{"ticker":"MSFT","basic_shares_m":7433.2,"diluted_shares_m":7465,"dilution_gap_pct":0.43},{"ticker":"AAPL","basic_shares_m":15003.2,"diluted_shares_m":15063.1,"dilution_gap_pct":0.4},{"ticker":"KO","basic_shares_m":4305,"diluted_shares_m":4315.7,"dilution_gap_pct":0.25}],"shape":"ranking","sql":"SELECT\n    ticker,\n    round(avg(basic_m), 1)                              AS basic_shares_m,\n    round(avg(diluted_m), 1)                            AS diluted_shares_m,\n    round(100 * (avg(diluted_m) / avg(basic_m) - 1), 2) AS dilution_gap_pct\nFROM\n(\n    SELECT\n        t                                                AS ticker,\n        period_end,\n        max(toFloat64(basic_shares_outstanding)) / 1e6   AS basic_m,\n        max(toFloat64(diluted_shares_outstanding)) / 1e6 AS diluted_m\n    FROM global_markets.stocks_income_statements\n    ARRAY JOIN tickers AS t\n    WHERE t IN ('AAPL', 'MSFT', 'NVDA', 'AMZN', 'TSLA', 'KO', 'F', 'PFE')\n      AND timeframe = 'quarterly'\n      AND period_end >= '2024-07-01'\n      AND basic_shares_outstanding > 0\n      AND diluted_shares_outstanding > 0\n    GROUP BY ticker, period_end\n)\nGROUP BY ticker\nORDER BY dilution_gap_pct DESC","computed_at":"2026-08-22T04:32:27.558704+00:00","elapsed":0.043085434}