Apple Inc. Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
| Net income | $ | 112,010 | $ | 93,736 | $ | 96,995 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average basic shares outstanding | 14,948,500 | 15,343,783 | 15,744,231 | ||||||||||||||
| Effect of dilutive share-based awards | 56,197 | 64,312 | 68,316 | ||||||||||||||
| Weighted-average diluted shares | 15,004,697 | 15,408,095 | 15,812,547 | ||||||||||||||
| Basic earnings per share | $ | 7.49 | $ | 6.11 | $ | 6.16 | |||||||||||
| Diluted earnings per share | $ | 7.46 | $ | 6.08 | $ | 6.13 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 31, 2025 | Showing above |
| 2024 | Nov 1, 2024 | |
| 2023 | Nov 3, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.