Amentum Holdings, Inc.AMTM

Amentum Holdings, Inc. Earnings Per Share Disclosure

10-KFiled Nov 25, 20252 min read
Earnings (Loss) Per Share
For the periods prior to September 27, 2024, the Company retrospectively adjusted the weighted average shares used in determining loss per share to reflect the conversion of the ownership interests of Amentum Parent Holdings LLC held by AJVLP that converted into 90,021,804 shares of the Company’s common stock at Transaction close. As discussed in Note 11 — Stock-Based Compensation certain employees of the Company were granted stock-based compensation in the form of Class B Time-Vested and Performance-Vested units of AJVLP. The compensation expense associated with such awards is recognized in the Company’s financial statements, however as such shares represent outstanding equity of AJVLP, and not of the Company, such awards do not impact the Company’s calculation of the weighted average shares outstanding.
For the year ended September 27, 2024, Jacobs’ restricted stock units converted to Amentum time-based restricted stock were excluded from the computation of diluted loss per share because inclusion of these amounts would have had an anti-dilutive effect. There were no anti-dilutive shares in fiscal year 2025 or 2023.
Basic and diluted earnings (loss) per share are computed as follows (in millions, except per share data):
For the years ended
October 3, 2025September 27, 2024September 29, 2023
Net income (loss) attributable to common shareholders$66 $(82)$(314)
Weighted-average number of basic shares outstanding during the period2439190
Dilutive effect of RSUs1— — 
Weighted-average number of diluted shares outstanding during the period2449190
Basic earnings (loss) per share$0.27 $(0.90)$(3.49)
Diluted earnings (loss) per share$0.27 $(0.90)$(3.49)

Historical Timeline

Fiscal YearFiled
2025Nov 25, 2025Showing above
2024Dec 17, 2024

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.

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