TD SYNNEX CORP Earnings Per Share Disclosure
| Fiscal Years Ended November 30, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
(currency and share amounts in thousands, except per share amounts) | |||||||||||||||||
| Basic earnings per common share: | |||||||||||||||||
Net income attributable to common stockholders(1) | $ | 820,165 | $ | 682,987 | $ | 622,045 | |||||||||||
| Weighted-average number of common shares - basic | 82,104 | 85,494 | 92,572 | ||||||||||||||
| Basic earnings per common share | $ | 9.99 | $ | 7.99 | $ | 6.72 | |||||||||||
| Diluted earnings per common share: | |||||||||||||||||
Net income attributable to common stockholders(1) | $ | 820,189 | $ | 683,009 | $ | 622,056 | |||||||||||
| Weighted-average number of common shares - basic | 82,104 | 85,494 | 92,572 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Stock options and RSUs | 326 | 380 | 281 | ||||||||||||||
| Weighted-average number of common shares - diluted | 82,430 | 85,874 | 92,853 | ||||||||||||||
| Diluted earnings per common share | $ | 9.95 | $ | 7.95 | $ | 6.70 | |||||||||||
| Anti-dilutive shares excluded from diluted earnings per share calculation | 17 | 123 | 287 | ||||||||||||||
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.