LINCOLN ELECTRIC HOLDINGS INC Earnings Per Share Disclosure
NOTE 3 - EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
Numerator: |
| |
| |
| | |||
Net income | $ | 520,533 | $ | 466,108 | $ | 545,248 | |||
Denominator (shares in 000's): |
| |
| |
| | |||
Basic weighted average shares outstanding |
| 55,410 |
| 56,639 |
| 57,364 | |||
Effect of dilutive securities - Stock options and awards |
| 465 |
| 555 |
| 857 | |||
Diluted weighted average shares outstanding |
| 55,875 |
| 57,194 |
| 58,221 | |||
Basic earnings per share | $ | 9.39 | $ | 8.23 | $ | 9.50 | |||
Diluted earnings per share | $ | 9.32 | $ | 8.15 | $ | 9.37 | |||
For the years ended December 31, 2025, 2024 and 2023, common shares subject to equity-based awards of 19,194, 20,495 and 69,901, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 25, 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.