Hamilton Insurance Group, Ltd. Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| ($ and shares in thousands, except per share information) | 2025 | 2024 | 2023 | ||||||||||||||
| Numerator: | |||||||||||||||||
Net income (loss) attributable to common shareholders | $ | 576,670 | $ | 400,429 | $ | 258,727 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted average common shares outstanding - basic | 100,364 | 105,133 | 104,563 | ||||||||||||||
| Effect of dilutive securities | 3,480 | 3,968 | 1,640 | ||||||||||||||
| Weighted average common shares outstanding - diluted | 103,844 | 109,101 | 106,203 | ||||||||||||||
| Basic income (loss) per share attributable to common shareholders | $ | 5.75 | $ | 3.81 | $ | 2.47 | |||||||||||
| Diluted income (loss) per share attributable to common shareholders | $ | 5.55 | $ | 3.67 | $ | 2.44 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Mar 7, 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.