New Mountain Finance Corp Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Earnings per share—basic | |||||||||||||||||
| Numerator for basic earnings per share: | $ | 16,488 | $ | 113,443 | $ | 135,343 | |||||||||||
| Denominator for basic weighted average share: | 106,150,261 | 106,570,782 | 101,118,302 | ||||||||||||||
| Basic earnings per share: | $ | 0.16 | $ | 1.06 | $ | 1.34 | |||||||||||
| Earnings per share—diluted(1) | |||||||||||||||||
| Numerator for increase in net assets per share | $ | 16,488 | $ | 113,443 | $ | 135,343 | |||||||||||
| Adjustment for interest on Convertible Notes and incentive fees, net (2) (3) | 13,433 | 15,600 | 18,214 | ||||||||||||||
| Numerator for diluted earnings per share: | $ | 29,921 | $ | 129,043 | $ | 153,557 | |||||||||||
| Denominator for basic weighted average share | 106,150,261 | 106,570,782 | 101,118,302 | ||||||||||||||
| Adjustment for dilutive effect of Convertible Notes (4) | 14,943,056 | 18,892,607 | 22,370,580 | ||||||||||||||
| Denominator for diluted weighted average share | 121,093,317 | 125,463,389 | 123,488,882 | ||||||||||||||
| Diluted earnings per share | $ | 0.16 | $ | 1.03 | $ | 1.24 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 27, 2023 | |
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.