NCS Multistage Holdings, Inc. Earnings Per Share Disclosure
Note 18. Earnings Per Common Share
The following table presents the reconciliation of the numerator and denominator for calculating earnings per common share (in thousands, except per share data):
| Year Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Numerator | ||||||||
| Net income | $ | 26,037 | $ | 8,138 | ||||
| Less: income attributable to non-controlling interest | 2,289 | 1,545 | ||||||
| Net income attributable to NCS Multistage Holdings, Inc. | $ | 23,748 | $ | 6,593 | ||||
| Denominator | ||||||||
| Basic weighted average number of shares | 2,589 | 2,539 | ||||||
| Dilutive effect of other equity awards | 157 | 51 | ||||||
| Diluted weighted average number of shares | 2,746 | 2,590 | ||||||
| Earnings per common share | ||||||||
| Basic | $ | 9.17 | $ | 2.60 | ||||
| Diluted | $ | 8.65 | $ | 2.55 | ||||
| Potentially dilutive securities excluded as anti-dilutive | 2 | 48 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2019 | Mar 3, 2020 | |
| 2018 | Mar 8, 2019 | |
| 2017 | Mar 9, 2018 | |
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.