Earnings Per Share
Basic earnings per share (EPS) excludes dilution and is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income attributable to AECOM by the weighted average number of common shares outstanding and potential common shares for the period. The Company includes as potential common shares the weighted average dilutive effects of equity awards using the treasury stock method. For the periods presented, equity awards excluded from the calculation of potential common shares were not significant.
The following table sets forth a reconciliation of the denominators of basic and diluted earnings per share:
Fiscal Year Ended
September 30,
2025
September 30,
2024
September 30,
2023
(in millions)
Denominator for basic earnings per share132.4 135.5 138.6 
Potential common shares0.9 1.0 1.5 
Denominator for diluted earnings per share133.3 136.5 140.1 

Historical Timeline

Fiscal YearFiled
2025Nov 19, 2025Showing above
2024Nov 19, 2024
2023Nov 15, 2023
2022Nov 17, 2022
2021Nov 17, 2021
2020Nov 19, 2020
2019Nov 13, 2019
2018Nov 13, 2018
2017Nov 14, 2017
2016Nov 16, 2016
2015Nov 25, 2015

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.