Earnings Per Share
Basic and diluted earnings per share amounts are calculated by dividing net income attributable to common shareholders by the weighted average number of shares of common stock outstanding during the period, as follows: 
Year Ended
September 27,
2025
September 28,
2024
September 30,
2023
(In thousands, except per share amounts)
Numerator:
 Net income attributable to common shareholders$245,893 $222,536 $309,970 
Denominator:
Weighted average common shares outstanding53,947 55,592 57,847 
Effect of dilutive stock options and restricted stock units1,231 1,378 1,968 
Denominator for diluted earnings per share55,178 56,970 59,815 
Net income attributable to common shareholders per share:
Basic$4.56 $4.00 $5.36 
Diluted$4.46 $3.91 $5.18 
 
Weighted-average dilutive securities that were excluded from the above calculation because their inclusion would have had an anti-dilutive effect under ASC Topic 260, Earnings per Share, due to application of the treasury stock method were not material for any period presented.

Historical Timeline

Fiscal YearFiled
2025Nov 13, 2025Showing above
2024Nov 27, 2024
2023Nov 16, 2023
2022Nov 10, 2022
2021Nov 12, 2021
2020Nov 13, 2020
2019Nov 8, 2019
2018Nov 15, 2018
2017Nov 13, 2017
2016Nov 18, 2016
2015Nov 19, 2015

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.