In thinking about how to calculate common stock outstanding, there are many ways available to analyze data surrounding the value of common stock. Pieces of information that are valuable, besides the price of the stock itself, is how much each share earns, the ratio of the price to the earnings, the net asset value per share, and the yield of the stock. There is also what is called a diluted
. earnings per share, which is calculated by taking the income available to stock holders and dividing it by the number of outstanding common stock shares available plus any shares of employee stock options and similar other securities. You can find more information here: http://e-articles.info/e/a/title/VALUING-COMMON-STOCK/