Earnings Per Share
    The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share (EPS) computations: 
 Fiscal Year Ended September 27, 2025Fiscal Year Ended September 28, 2024Fiscal Year Ended September 30, 2023
 Net
Income
SharesPer
Share
Net
Income
SharesPer
Share
Net
Income
SharesPer
Share
 (in thousands, except per share amounts)
Basic EPS:
Net income available to common shareholders$162,843 63,094 $2.58 $107,983 65,711 $1.64 $125,643 65,493 $1.92 
Effect of dilutive securities:
Options to purchase common stock76 — 228 0.00 369 (0.01)
Restricted shares477 (0.02)741 (0.02)797 (0.03)
Performance stock units168 (0.01)180 — 124 — 
Diluted EPS:
Net income available to common shareholders$162,843 63,815 $2.55 $107,983 66,860 $1.62 $125,643 66,783 $1.88 
For fiscal 2025, options to purchase 0.3 million shares were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive.
For fiscal 2024, options to purchase 0.3 million shares were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive.
For fiscal 2023, options to purchase 0.6 million shares were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Nov 26, 2025Showing above
2024Nov 27, 2024
2023Nov 28, 2023
2022Nov 22, 2022
2021Nov 23, 2021
2020Nov 24, 2020
2019Nov 27, 2019
2018Nov 28, 2018
2017Nov 29, 2017
2016Dec 2, 2016
2015Dec 10, 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.