CHEMED CORP Earnings Per Share Disclosure
The computation of earnings per share follows (in thousands, except per share data):
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For the Years Ended December 31, |
| Net Income |
| Shares |
| Earnings per Share | |||
2025 |
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| Earnings |
| $ | 265,238 |
| 14,398 |
| $ | 18.42 |
| Dilutive stock options |
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| - |
| 35 |
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| Nonvested stock awards |
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| - |
| 27 |
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| Diluted earnings |
| $ | 265,238 |
| 14,460 |
| $ | 18.34 |
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2024 |
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| Earnings |
| $ | 301,999 |
| 15,024 |
| $ | 20.10 |
| Dilutive stock options |
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| - |
| 114 |
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| Nonvested stock awards |
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| - |
| 48 |
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| Diluted earnings |
| $ | 301,999 |
| 15,186 |
| $ | 19.89 |
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2023 |
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| Earnings |
| $ | 272,509 |
| 15,050 |
| $ | 18.11 |
| Dilutive stock options |
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| - |
| 103 |
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| Nonvested stock awards |
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| - |
| 47 |
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| Diluted earnings |
| $ | 272,509 |
| 15,200 |
| $ | 17.93 |
During 2025, 1.0 million stock options were excluded from the computation of diluted earnings per share as their exercise prices were greater than the average market price during most of the year. During 2024, 619,000 stock options were excluded. During 2023, 601,000 stock options were excluded.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 26, 2018 | |
| 2016 | Feb 27, 2017 | |
| 2015 | Feb 26, 2016 | |
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.