Smurfit Westrock plc Earnings Per Share Disclosure
Years ended December 31, | |||||
2025 | 2024 | 2023 | |||
Numerator: | |||||
Net income attributable to common shareholders | $699 | $319 | $825 | ||
Denominator: | |||||
Basic weighted average shares outstanding | 522 | 386 | 258 | ||
Effect of dilutive share options | 4 | 3 | 2 | ||
Diluted weighted average shares outstanding | 526 | 389 | 260 | ||
Basic earnings per share attributable to common shareholders | $1.34 | $0.83 | $3.19 | ||
Diluted earnings per share attributable to common shareholders | $1.33 | $0.82 | $3.17 | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
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.