ARKO Corp. Earnings Per Share Disclosure
21. Earnings per Share
The following table sets forth the computation of basic and diluted net income per share of common stock:
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For the Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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(in thousands) |
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Net income attributable to common stockholders |
|
$ |
16,994 |
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|
$ |
15,095 |
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|
$ |
28,619 |
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|
|
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|
|
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Weighted average common shares outstanding — Basic |
|
|
113,312 |
|
|
|
116,139 |
|
|
|
118,782 |
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Effect of dilutive securities: |
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|
|
|
|
|
|
|
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RSUs and PSUs |
|
|
1,664 |
|
|
|
810 |
|
|
|
823 |
|
Weighted average common shares outstanding — Diluted |
|
|
114,976 |
|
|
|
116,949 |
|
|
|
119,605 |
|
Net income per share attributable to common stockholders — Basic |
|
$ |
0.15 |
|
|
$ |
0.13 |
|
|
$ |
0.24 |
|
Net income per share attributable to common stockholders — Diluted |
|
$ |
0.15 |
|
|
$ |
0.13 |
|
|
$ |
0.24 |
|
The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive:
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As of December 31, |
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2025 |
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2024 |
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2023 |
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(in thousands) |
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Ares Warrants |
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— |
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|
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1,100 |
|
|
|
1,100 |
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Public and Private Warrants |
|
|
— |
|
|
|
17,333 |
|
|
|
17,333 |
|
Series A redeemable preferred stock |
|
|
8,658 |
|
|
|
8,569 |
|
|
|
8,482 |
|
Stock options |
|
|
1,306 |
|
|
|
1,306 |
|
|
|
1,306 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 28, 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.