Meritage Homes CORPMTH

Meritage Homes CORP Earnings Per Share Disclosure

10-KFiled Feb 13, 20262 min read
EARNINGS PER SHARE; STOCKHOLDERS' EQUITY
Basic and diluted earnings per common share were calculated as follows (in thousands, except per share amounts):
 
Years Ended December 31,
202520242023
Basic weighted average number of shares outstanding70,819 72,476 73,238 
Effect of dilutive securities:
Unvested restricted stock529 856 900 
Diluted average shares outstanding71,348 73,332 74,138 
Net earnings$453,013 $786,186 $738,748 
Basic earnings per share$6.40 $10.85 $10.09 
Diluted earnings per share$6.35 $10.72 $9.96 

Stock Split
On November 21, 2024, our Board of Directors declared a two-for-one stock split of Meritage’s common stock in the form of a stock dividend. Each stockholder of record at the close of business on December 31, 2024 received one additional share of common stock for each share of common stock held, payable after the close of market on January 2, 2025. Trading began on a split-adjusted basis on January 3, 2025. There was no adjustment to the number of authorized shares or the par value.
Dividends
During the years ended December 31, 2025, 2024, and 2023 our Board of Directors approved, and we paid, a quarterly cash dividend on common stock of $0.43, $0.375, and $0.135 per share, respectively. Quarterly dividends declared and paid during the years ended December 31, 2025, 2024, and 2023 totaled $1.72, $1.50, and $0.54 per share, respectively.
Excise Tax on Stock Repurchases
The Inflation Reduction Act of 2022 (the "IRA"), which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. The applicable excise tax is reflected in Additional paid-in capital as part of the cost basis of the stock repurchased and a corresponding liability for the excise taxes payable is recorded in Accrued liabilities on the accompanying consolidated balance sheets.
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Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 20, 2025
2023Feb 14, 2024
2022Feb 15, 2023
2021Feb 16, 2022

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.

Other Available Disclosures

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