09/24/2026
A company can grow sales and earnings while shareholders see much less benefit than expected.
One reason: dilution.
When the share count keeps rising, improving results are divided among more shares. That’s why The Bowser Report includes share-count discipline as one of the 13 factors in the Bowser Rating System.
Our latest article explains why dilution matters, when issuing new shares can actually create value, and what small-cap investors should watch.
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