Short answer: Based on the excerpt you provided, there isn’t enough quantitative information to tell whether the share‑count change reflects dilution, a share‑buy‑back, or simply a neutral administrative update.
Why the numbers matter
A dilution event typically shows an increase in the total number of outstanding shares (or voting rights). This can happen when:
| Dilution Trigger | Typical Effect on Share Count |
|---|---|
| New equity issuance (e.g., a secondary offering, employee‑stock‑option exercises, convertible securities being converted) | ↑ Outstanding shares |
| Acquisition paid for with stock | ↑ Outstanding shares |
| Capital raise (rights issue, private placement) | ↑ Outstanding shares |
A share‑buy‑back (or share‑repurchase) shows a decrease in the total number of outstanding shares because the company reacquires its own stock and retires or holds it in treasury. This typically reduces the share count and can boost earnings‑per‑share (EPS).
| Buy‑back Trigger | Typical Effect on Share Count |
|---|---|
| Voluntary repurchase program announced/completed | ↓ Outstanding shares |
| Mandatory tender offer or open‑market purchases | ↓ Outstanding shares |
If the press release simply restates the same figure as the previous reporting date, the change is neutral (no dilution or buy‑back).
How to interpret Dassault Systèmes’ filing
Locate the actual figures – The full press release (usually filed with the French Autorité des marchés financiers or posted on Dassault Systèmes’ investor‑relations site) will list the exact number of outstanding shares and voting rights as of 31 July 2025, along with a comparable figure from the prior reporting period (e.g., 31 July 2024).
Compare the two numbers
- If the 2025 figure is higher → The company has issued additional shares (possible dilution).
- If the 2025 figure is lower → The company has repurchased shares (possible buy‑back).
- If the numbers are unchanged → No net dilution or buy‑back.
- If the 2025 figure is higher → The company has issued additional shares (possible dilution).
Read the accompanying commentary – Companies often explain the reason for any change (e.g., “exercise of stock options granted under our employee incentive plan” or “completion of a €500 million share‑repurchase program”).
Check related disclosures – Look for:
- Details on stock‑option exercises or restricted stock unit (RSU) vestings (dilutive).
- Announcements of a share‑repurchase program (buy‑back).
- Any conversion of convertible bonds or preferred shares (dilutive).
- Dividend reinvestment plans (DRIPs) (may be dilutive if new shares are issued).
- Details on stock‑option exercises or restricted stock unit (RSU) vestings (dilutive).
What you can do next
- Visit Dassault Systèmes’ Investor Relations page (usually
www.3ds.com/investors). - Download the complete “Declaration of the number of outstanding shares and voting rights” for the July‑31‑2025 date.
- Compare it with the same filing from the prior year (or the most recent prior filing).
- Look for a press release or shareholder communication that explains any change (e.g., “Share Repurchase Program – 2025”).
Only after performing that side‑by‑side comparison can you definitively state whether the change signals dilution, a buy‑back, or neither.
Bottom line: The snippet you provided does not include the actual share‑count figures, so we cannot conclude whether the change indicates dilution or share buy‑backs. Review the full declaration and any accompanying commentary to make an informed assessment.