MERCURY GENERAL CORP Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income (Numerator) | Weighted Average Shares (Denominator) | Per-Share Amount | Net Income (Numerator) | Weighted Average Shares (Denominator) | Per-Share Amount | Net Income (Numerator) | Weighted Average Shares (Denominator) | Per-Share Amount | |||||||||||||||||||||||||||||||||||||||||||||
| (Amounts and numbers in thousands, except per-share data) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic EPS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income available to common stockholders | $ | 541,094 | 55,389 | $ | 9.77 | $ | 467,953 | 55,373 | $ | 8.45 | $ | 96,336 | 55,371 | $ | 1.74 | ||||||||||||||||||||||||||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Options | — | — | — | 4 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
| Diluted EPS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income available to common stockholders after assumed conversions | $ | 541,094 | 55,389 | $ | 9.77 | $ | 467,953 | 55,377 | $ | 8.45 | $ | 96,336 | 55,371 | $ | 1.74 | ||||||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 17, 2026 | Showing above |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 12, 2020 | |
| 2018 | Feb 13, 2019 | |
| 2017 | Feb 8, 2018 | |
| 2016 | Feb 9, 2017 | |
| 2015 | Feb 9, 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.