ONITY GROUP INC.ONIT

ONITY GROUP INC. Earnings Per Share Disclosure

10-KFiled Feb 17, 20262 min read
Note 22 — Basic and Diluted Earnings (Loss) per Share
Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the year. We calculate diluted earnings or loss per share by dividing net income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding including the potential dilutive shares of common stock related to outstanding restricted stock awards, stock options and warrants as determined using the treasury stock method. For 2023, we have excluded the effect of all stock options, common stock awards, and warrants from the computation of diluted loss per share because of the anti-dilutive effect of our reported net loss.
Years Ended December 31,
202520242023
Basic earnings (loss) per share
Net income (loss) attributable to common stockholders
$185.4 $33.4 $(63.7)
Weighted average shares of common stock outstanding8,035,942 7,816,093 7,635,584 
Basic earnings (loss) per share$23.07 $4.28 $(8.34)
Diluted earnings (loss) per share
Net income (loss) attributable to common stockholders
$185.4 $33.4 $(63.7)
Weighted average shares of common stock outstanding
8,035,942 7,816,093 7,635,584 
Effect of dilutive elements
Common stock warrants (1)
308,874 83,260 — 
Stock option awards31 — — 
Common stock awards292,462 188,182 — 
Dilutive weighted average shares of common stock8,637,309 8,087,535 7,635,584 
Diluted earnings (loss) per share$21.46 $4.13 $(8.34)
Stock options and common stock awards excluded from the computation of diluted earnings (loss) per share
Anti-dilutive (2)
18,764 87,879 66,710 
Market-based (3)
22,565 64,085 58,397 
(1)Refer to Note 17 — Stockholders’ Equity for description of the exercise of warrants by Oaktree in 2025. At December 31, 2025, there were no common stock warrants outstanding.
(2)Includes stock options and stock awards that are anti-dilutive based on the application of the treasury stock method.
(3)Shares that are issuable upon the achievement of certain market-based performance criteria related to Onity’s stock price.

Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2016Feb 23, 2017

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.

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