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What is EPS? Basic vs diluted profit per share, with real US companies

EPS is net income divided by shares. How basic and diluted EPS are worked out, where they sit in a 10-K or 10-Q, and real US company figures.

By · Checked against filings: , 1 min read, Seen in 90 companies on Cityfort. Editorial policy. Corrections

For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

What is earnings per share (EPS)?

Earnings per share (EPS) is a company's net income for a period divided by its number of shares.[S1] Diluted EPS also counts shares that could still be created, for example from employee stock awards.[S2]

How are basic and diluted EPS worked out?

Basic EPS divides net income by the weighted average number of shares outstanding during the period.[S4] Diluted EPS adds the shares that would exist if awards vested, options were used or convertible debt became stock.[S2]

Cityfort's US stock pages show diluted GAAP EPS for the fiscal year. Costco's is $20.76 (FY2026). See stock-based pay and dilution for where the extra shares come from.

Where do you find EPS in a 10-K or 10-Q?

It is on the income statement, inside the financial statements: 10-K Item 8, or 10-Q Part I, Item 1.[S6][S7] SEC rules list earnings per share data as a line on that statement.[S3]

Costco's 10-K shows "Net income per common share", basic and diluted, with the shares used for each.[S4] Its Note 9 lists the extra shares from restricted stock units (shares promised to employees that vest over time).[S4]

What does EPS leave out?

  • Cash. EPS starts from net income. The cash flow statement shows whether the company actually brought in cash.[S1]
  • Why the share count moved. EPS changes when the number of shares changes, even if net income does not. Costco, for example, retires the shares it buys back.[S4]
  • A company's own adjusted EPS. That is a non-GAAP measure, which the SEC staff says should be reconciled to GAAP EPS.[S5] See non-GAAP measures.

See it in real companies

Diluted earnings per share (EPS) at companies on Cityfort

90 companies on Cityfort, listed A–Z (not ranked).

AbbVie
$2.36FY2025 · consolidated · source S1
Adobe
$16.70FY2025 · consolidated · source S1
Airbnb
$4.03FY2025 · consolidated · source S1
Alphabet
$10.81FY2025 · consolidated · source S1
Amaero
−$0.95FY2025 · consolidated · source S1
Amazon
$7.17FY2025 · consolidated · source S1
AMD
$2.65FY2025 · consolidated · source S1
Apple
$7.46FY2025 · consolidated · source S1, S9
Arm
$0.85FY2026 · consolidated · source S1
Aspen Neuroscience
−$59.43FY2025 · the company alone (it has no subsidiaries) · source S1
AT&T
$3.04FY2025 · consolidated · source S1, S24
Bambusa
−$6.08FY2025 · consolidated · source S1
Berkshire Hathaway
$31.04FY2025 · consolidated · source S1
Block
$2.10FY2025 · consolidated · source S1
Bloom Energy
−$0.37FY2025 · consolidated · source S1
Boeing
$2.48FY2025 · consolidated · source S1
Booking Holdings
$6.62FY2025 · consolidated · source S1
Broadcom
$4.77FY2025 · consolidated · source S1
Caterpillar
$18.81FY2025 · consolidated · source S1
Cerebras
$1.38FY2025 · consolidated · source S1
Chevron
$6.63FY2025 · consolidated · source S1
Chipotle
$1.14FY2025 · consolidated · source S1
Cisco
$3.33FY2026 · consolidated · source S1
City Therapeutics
−$11.34FY2025 · consolidated · source S1

And 66 more companies on Cityfort; each stock page shows it in context.

From each company's filings, as cited on its Cityfort stock page. These figures change when a stock page is updated.

Questions people ask

What is the difference between basic and diluted EPS?
Basic EPS divides net income by the weighted average number of shares outstanding in the period. Diluted EPS also adds the shares that would have existed if dilutive awards, options or convertible securities had turned into stock.[S2][S4]
Which shares does diluted EPS add?
FASB's rules add options, warrants and unvested stock awards using the treasury stock method. Convertible debt and convertible preferred stock are added using the if-converted method.[S2]
Why can basic and diluted EPS be the same in a loss year?
FASB's guidance says that when there is a year-to-date loss, potential shares are never added to diluted EPS. Adding them would shrink the loss per share, which the rules call antidilutive.[S2]
Is a company's adjusted EPS the same as GAAP EPS?
No. Adjusted EPS is a company's own non-GAAP measure. The SEC staff says non-GAAP per-share performance measures should be reconciled to GAAP earnings per share.[S5]
How is EPS used in the P/E ratio?
The P/E ratio divides a share price by earnings per share. Investor.gov describes the EPS used there as earnings for the past 12 months divided by common shares outstanding.[S8]

Sources

  1. S1Beginners' Guide to Financial Statements: income statements (earnings per share) and cash flow statements, last reviewed or updated Feb 6, 2017 · U.S. Securities and Exchange CommissionTier 1: company or exchange filing · Feb 6, 2017
  2. S2Accounting Standards Update No. 2020-06 (Subtopics 470-20 and 815-40), incl. paragraphs 260-10-45-16, 260-10-45-22, 260-10-45-23, 260-10-45-40 and 260-10-55-3B as shown in the update (Earnings per Share) · Financial Accounting Standards Board (FASB)Tier 1: company or exchange filing · Aug 5, 2020
  3. S317 CFR 210.5-03 (Regulation S-X Rule 5-03): statements of comprehensive income, caption 25, earnings per share data (eCFR, up to date as of Nov 4, 2026) · Electronic Code of Federal Regulations (eCFR)Tier 1: company or exchange filing · Nov 4, 2026
  4. S4Costco Wholesale Corporation: Form 10-K for fiscal year 2026 (ended Aug 30, 2026): consolidated statements of income, Note 1 (net income per common share; stock repurchase programs) and Note 9 (net income per common and common equivalent share) · Costco Wholesale Corporation (SEC EDGAR)Tier 1: company or exchange filing · Oct 7, 2026
  5. S5Non-GAAP Financial Measures: Corporation Finance Interpretations (formerly C&DIs), Question 102.05, last updated Dec 13, 2022 · U.S. Securities and Exchange Commission, Division of Corporation FinanceTier 1: company or exchange filing · Dec 13, 2022
  6. S6Investor Bulletin: How to Read a 10-K, September 2011 (Item 8, Financial Statements and Supplementary Data) · U.S. Securities and Exchange Commission, Office of Investor Education and AdvocacyTier 1: company or exchange filing · Sep 1, 2011
  7. S7Form 10-Q, General Instructions and Part I, Item 1 (Financial Statements) (form version SEC 1296, 02-25) · U.S. Securities and Exchange CommissionTier 1: company or exchange filing · Feb 1, 2025
  8. S8Glossary: Price-earnings (P/E) Ratio, accessed Nov 6, 2026 · U.S. Securities and Exchange Commission (Investor.gov)Tier 1: company or exchange filing · Nov 6, 2026

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For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

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All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.

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