UPBOUND GROUP, INC. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| (in thousands, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||
| Numerator: | |||||||||||||||||
| Net earnings (loss) | $ | 73,242 | $ | 123,478 | $ | (5,179) | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average shares outstanding | 56,479 | 54,654 | 54,978 | ||||||||||||||
Effect of dilutive stock awards (1) (2) | 2,133 | 1,279 | — | ||||||||||||||
| Weighted-average dilutive shares | 58,612 | 55,933 | 54,978 | ||||||||||||||
| Basic earnings (loss) per common share | $ | 1.30 | $ | 2.26 | $ | (0.09) | |||||||||||
| Diluted earnings (loss) per common share | $ | 1.25 | $ | 2.21 | $ | (0.09) | |||||||||||
| Anti-dilutive securities excluded from diluted earnings (loss) per common share: | |||||||||||||||||
Anti-dilutive time-vesting restricted share units (3) | 652 | — | 1,163 | ||||||||||||||
| Anti-dilutive performance share units | — | 475 | 1,292 | ||||||||||||||
| Anti-dilutive stock options | 264 | 53 | 656 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 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.