STARWOOD PROPERTY TRUST, INC. Earnings Per Share Disclosure
For the Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Basic Earnings | ||||||||||||||||||||
| Income attributable to STWD common stockholders | $ | 411,544 | $ | 359,933 | $ | 339,213 | ||||||||||||||
| Less: Income attributable to participating shares not already deducted as non-controlling interests | (9,188) | (7,201) | (6,412) | |||||||||||||||||
| Basic earnings | $ | 402,356 | $ | 352,732 | $ | 332,801 | ||||||||||||||
| Diluted Earnings | ||||||||||||||||||||
| Income attributable to STWD common stockholders | $ | 411,544 | $ | 359,933 | $ | 339,213 | ||||||||||||||
| Less: Income attributable to participating shares not already deducted as non-controlling interests | (9,188) | (7,201) | (6,412) | |||||||||||||||||
| Diluted earnings | $ | 402,356 | $ | 352,732 | $ | 332,801 | ||||||||||||||
| Number of Shares: | ||||||||||||||||||||
| Basic — Average shares outstanding | 349,687 | 319,921 | 309,771 | |||||||||||||||||
| Effect of dilutive securities — Contingently issuable shares | 95 | 331 | 450 | |||||||||||||||||
| Effect of dilutive securities — Unvested non-participating shares | 209 | 317 | 286 | |||||||||||||||||
| Diluted — Average shares outstanding | 349,991 | 320,569 | 310,507 | |||||||||||||||||
| Earnings Per Share Attributable to STWD Common Stockholders: | ||||||||||||||||||||
| Basic | $ | 1.15 | $ | 1.10 | $ | 1.07 | ||||||||||||||
| Diluted | $ | 1.15 | $ | 1.10 | $ | 1.07 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 23, 2017 | |
| 2015 | Feb 25, 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.