SIEBERT FINANCIAL CORP Earnings Per Share Disclosure
20. Earnings Per Common Share
The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2024 and 2023.
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Net income | $ | 13,303,000 | $ | 7,844,000 | ||||
| Less net income attributable to noncontrolling interests | 17,000 | 18,000 | ||||||
| Net income available to common stockholders | $ | 13,286,000 | $ | 7,826,000 | ||||
| Weighted-average common shares outstanding - basic | 39,951,510 | 37,070,366 | ||||||
| Dilutive effect of unvested shares | 223,170 | |||||||
| Weighted-average common shares used to compute diluted loss per share | 40,174,680 | 37,070,366 | ||||||
| Net income per share attributable to common stockholders: | ||||||||
| Basic | $ | 0.33 | $ | 0.21 | ||||
| Diluted | $ | 0.33 | $ | 0.21 | ||||
Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by adjusting the weighted-average number of common shares outstanding for the potential dilutive effect of securities, including the effect of unvested shares, if applicable. For the years ended December 31, 2024 and 2023, the Company had antidilutive shares outstanding.
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.