OMEGA HEALTHCARE INVESTORS INC Earnings Per Share Disclosure
NOTE 22 - EARNINGS PER SHARE
The following tables set forth the computation of basic and diluted earnings per share:
Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
(in thousands, except per share amounts) | |||||||||
Numerator: | | | | | | ||||
Net income | $ | 609,467 | $ | 417,804 | $ | 248,796 | |||
Less: adjustments to basic numerator(1) |
| (37,437) |
| (11,478) |
| (6,616) | |||
Net income available to common stockholders – basic | $ | 572,030 | $ | 406,326 | $ | 242,180 | |||
Add: net income attributable to OP Units |
| 19,356 |
| 12,060 |
| 7,077 | |||
Net income available to common stockholders – diluted | $ | 591,386 | $ | 418,386 | $ | 249,257 | |||
Denominator: |
| |
| |
| | |||
Denominator for basic earnings per share |
| 291,648 |
| 258,118 |
| 240,493 | |||
Effect of dilutive securities: |
|
| |
| | ||||
Common stock equivalents |
| 3,614 |
| 4,664 |
| 2,923 | |||
Noncontrolling interest – Omega OP Units |
| 9,690 |
| 7,668 |
| 7,035 | |||
Denominator for diluted earnings per share |
| 304,952 |
| 270,450 |
| 250,451 | |||
Earnings per share – basic: |
| |
| |
| | |||
Net income available to common stockholders | $ | 1.96 | $ | 1.57 | $ | 1.01 | |||
Earnings per share – diluted: |
| |
| |
| | |||
Net income available to common stockholders | $ | 1.94 | $ | 1.55 | $ | 1.00 | |||
| (1) | Includes adjustments to remove income related to non-controlling interests and participating shares including time-based and performance-based PIUs and time-based and performance-based RSUs. |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 9, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 12, 2024 | |
| 2022 | Feb 14, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 22, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 29, 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.