Earnings Per Share
The following table sets forth the computations of basic and diluted earnings per common share (amounts in millions, except per share data):
202520242023
Net income attributable to Teledyne$894.8 $819.2 $885.7 
Basic earnings per common share:
Weighted average common shares outstanding46.8 47.0 47.1 
Basic earnings per common share$19.12 $17.43 $18.80 
Diluted earnings per share:
Weighted average common shares outstanding46.8 47.0 47.1 
Effect of diluted securities (primarily stock options)0.6 0.6 0.8 
Weighted average diluted common shares outstanding47.4 47.6 47.9 
Diluted earnings per common share$18.88 $17.21 $18.49 
In 2024 and 2023, the Company excluded 0.2 million of stock options in the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive. In 2025, the amount of excluded stock options in the computation of diluted earnings per share was not material.

Historical Timeline

Fiscal YearFiled
2025Feb 20, 2026Showing above
2024Feb 21, 2025
2023Feb 23, 2024

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.