Ladder Capital Corp Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||||||||
| ($ in thousands except share amounts) | 2025 | 2024 | 2023 | |||||||||||||||||
| Basic and Diluted Net income (loss) available for Class A common shareholders | $ | 64,182 | $ | 108,255 | $ | 101,125 | ||||||||||||||
| Weighted average shares outstanding: | ||||||||||||||||||||
| Basic | 125,483,693 | 125,576,784 | 124,667,877 | |||||||||||||||||
| Diluted | 126,194,691 | 125,785,295 | 124,882,398 | |||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
| (In thousands except share and per share amounts) (1) | 2025 | 2024 | 2023 | |||||||||||||||||
| Basic Net Income (Loss) Per Share of Class A Common Stock | ||||||||||||||||||||
Numerator: | ||||||||||||||||||||
| Net income (loss) attributable to Class A common shareholders | $ | 64,182 | $ | 108,255 | $ | 101,125 | ||||||||||||||
Denominator: | ||||||||||||||||||||
| Weighted average number of shares of Class A common stock outstanding | 125,483,693 | 125,576,784 | 124,667,877 | |||||||||||||||||
| Basic net income (loss) per share of Class A common stock | $ | 0.51 | $ | 0.86 | $ | 0.81 | ||||||||||||||
| Diluted Net Income (Loss) Per Share of Class A Common Stock | ||||||||||||||||||||
| Numerator: | ||||||||||||||||||||
| Net income (loss) attributable to Class A common shareholders | $ | 64,182 | $ | 108,255 | $ | 101,125 | ||||||||||||||
| Diluted net income (loss) attributable to Class A common shareholders | 64,182 | 108,255 | 101,125 | |||||||||||||||||
| Denominator: | ||||||||||||||||||||
| Basic weighted average number of shares of Class A common stock outstanding | 125,483,693 | 125,576,784 | 124,667,877 | |||||||||||||||||
| Add - dilutive effect of: | ||||||||||||||||||||
| Incremental shares of unvested Class A restricted stock(1) | 710,998 | 208,511 | 214,521 | |||||||||||||||||
| Diluted weighted average number of shares of Class A common stock outstanding (2)(3) | 126,194,691 | 125,785,295 | 124,882,398 | |||||||||||||||||
| Diluted net income (loss) per share of Class A common stock | $ | 0.51 | $ | 0.86 | $ | 0.81 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 9, 2026 | Showing above |
| 2024 | Feb 10, 2025 | |
| 2023 | Feb 12, 2024 | |
| 2022 | Feb 13, 2023 | |
| 2021 | Feb 14, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Mar 7, 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.