DILLARD'S, INC. Earnings Per Share Disclosure
11. Earnings per Share
Basic earnings per share has been computed based upon the weighted average of Class A and Class B common shares outstanding. As no stock options or other dilutive securities were outstanding during any of the respective periods, the calculation of basic and dilutive earnings per share are the same.
Earnings per common share has been computed as follows:
| Fiscal 2025 | | Fiscal 2024 | | Fiscal 2023 | |||||||||||||
(in thousands, except per share data) | | Basic | | Diluted | | Basic | | Diluted | | Basic | | Diluted | ||||||
Net earnings available for per-share calculation | $ | 570,187 | $ | 570,187 | $ | 593,476 | $ | 593,476 | $ | 738,847 | $ | 738,847 | ||||||
Average shares of common stock outstanding |
| 15,655 | 15,655 |
| 16,120 | 16,120 |
| 16,517 | 16,517 | |||||||||
Dilutive effect of stock-based compensation |
| — |
| — |
| — |
| — |
| — |
| — | ||||||
Total average equivalent shares |
| 15,655 |
| 15,655 |
| 16,120 |
| 16,120 |
| 16,517 |
| 16,517 | ||||||
Per share of common stock: |
| |
| |
| |
| |
| |
| | ||||||
Net income | $ | 36.42 | $ | 36.42 | $ | 36.82 | $ | 36.82 | $ | 44.73 | $ | 44.73 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 27, 2026 | Showing above |
| 2025 | Mar 28, 2025 | |
| 2024 | Mar 29, 2024 | |
| 2023 | Mar 27, 2023 | |
| 2022 | Mar 29, 2022 | |
| 2021 | Mar 29, 2021 | |
| 2020 | Mar 31, 2020 | |
| 2019 | Mar 29, 2019 | |
| 2018 | Mar 30, 2018 | |
| 2017 | Mar 24, 2017 | |
| 2016 | Mar 23, 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.