Willdan Group, Inc. Earnings Per Share Disclosure
12. EARNINGS PER SHARE (“EPS”)
Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding and dilutive potential common shares for the period. Potential common shares include the weighted-average dilutive effects of outstanding stock options and restricted stock awards using the treasury stock method.
The following table sets forth the number of weighted-average common shares outstanding used to compute basic and diluted EPS:
Fiscal Year | |||||||||
2025 | | 2024 | | 2023 | |||||
(in thousands, except per share amounts) | |||||||||
Net income (loss) | $ | 52,557 | $ | 22,570 | $ | 10,926 | |||
Weighted-average common shares outstanding |
| 14,461 |
| 13,818 |
| 13,394 | |||
Effect of dilutive stock options and restricted stock awards |
| 610 |
| 427 |
| 212 | |||
Weighted-average common shares outstanding-diluted |
| 15,071 |
| 14,245 |
| 13,606 | |||
Earnings (Loss) per share: | |||||||||
Basic | $ | 3.63 | $ | 1.63 | $ | 0.82 | |||
Diluted | $ | 3.49 | $ | 1.58 | $ | 0.80 | |||
For the fiscal years 2025, 2024, and 2023, the Company excluded 4,000, 71,000 and 363,000 common shares subject to outstanding equity awards, respectively, from the calculation of diluted shares because their impact would have been anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Feb 27, 2026 | Showing above |
| 2024 | Mar 7, 2025 | |
| 2023 | Mar 8, 2024 | |
| 2022 | Mar 10, 2023 | |
| 2021 | Mar 17, 2021 | |
| 2019 | Mar 6, 2020 | |
| 2018 | Mar 8, 2019 | |
| 2017 | Mar 9, 2018 | |
| 2016 | Mar 16, 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.