攤薄每股收益

出自 MBA智库百科(https://wiki.mbalib.com/)

攤薄每股收益（diluted earning per share / diluted share / Diluted EPS）

　　攤薄每股收益是指凈利潤扣除了非經常損益後得到的每股收益。非經常損益指那些一次性的資產轉讓或者股權轉讓帶來的非經營性利潤。

　　國外一般不要求計算攤薄每股收益,所以該指標沒有國際可比性。

A performance metric used to gauge the quality of a company's earnings per share (EPS) if all convertible securities were exercised. Convertible securities refers to all outstanding convertible preferred shares, convertible debentures, stock options (primarily employee based) and warrants. Unless the company has no additional potential shares outstanding (a relatively rare circumstance) the diluted EPS will always be lower than the simple EPS.^[1]

Diluted earnings per share (Diluted EPS) takes the basic earnings per share figure one step further. Basic EPS only takes into account the number of shares outstanding at the time. Diluted EPS, on the other hand, estimates how many shares could theoretically exist after all stock options, warrants, preferred stock and / or convertible bonds have been exercised. The theory goes that because some or all of these investments could be converted or exercised, the number of shares outstanding could increase at any time. This reduces the amount of a company's earnings each share is entitled to. In doing so, the price to earnings ratio becomes higher, and the stock appears more expensive. In most cases, the diluted earnings-per-share figure is far more accurate estimation of the total earnings per share and receive special attention when valuing a company. ^[2]

Investopedia Says^[1]

Investopedia explains Diluted Earnings Per Share - Diluted EPS

Remember that earnings per share is calculated by dividing the company's profit by the number of shares outstanding. Warrants, stock options, convertible preferred shares, etc. all serve to increasing the number of shares outstanding. As a shareholder, this is a bad thing. If the denominator in the equation (shares outstanding) is larger, the earnings per share is reduced (the same profit figure is used in the numerator). This is a conservative metric because it indicates somewhat of a worst-case scenario. On one hand, everyone holding options, warrants, convertible preferred shares, etc. is unlikely convert their shares all at once. At the same time, if things go well, there is a good chance that all options and convertibles will be converted into common stock. A big difference in a company's EPS and diluted EPS can indicate high potential dilution for the company's shares, an attribute almost unanimously ostracized by analysts and investors alike.

　　攤薄每股收益＝凈利潤/報告期末股本

　　企業應當按照歸屬於普通股股東的當期凈利潤，除以發行在外普通股的加權平均數計算基本每股收益。

　　收益公式

　　發行在外普通股加權平均數按下列公式計算：

　　發行在外普通股加權平均數＝期初發行在外普通股股數＋當期新發行普通股股數×已發行時間÷報告期時間－當期回購普通股股數×已回購時間÷報告期時間 

　　稀釋每股收益是以基本每股收益為基礎，假設企業所有發行在外的稀釋性潛在普通股均已轉換為普通股，從而分別調整歸屬於普通股股東的當期凈利潤以及發行在外普通股的加權平均數計算而得的每股收益。簡單點說，比如某個公司有權證、可轉債、即將執行的股權激勵，那麼就意味著股份有潛在的增加可能，那麼為了準確評估每股收益，就必須用稀釋每股收益了

　　而攤薄每股收益是指凈利潤扣除了非經常損益後得到的每股收益，非經常損益指那些一次性的資產轉讓或者股權轉讓帶來的非經營性利潤。

　　全麵攤薄每股收益是指計算時按照期末數計算，不取平均數，如用年末的股數計算的全麵攤薄每股收益。

　　加權平均法是計算平均值的一種方法，是按照平均權數來進行平均。

　　資產負債表中的數據是一個時點數，而利潤表中的數據是一個時期數，財務比率是財務報表中數據的比值，如果計算某一比率時，其中一個數據來自於資產負債表，而另一個數據來自於利潤表，來自於資產負債表的數據在整個期間（如一年）內可能是變化的，如股本數、凈資產、總資產等，由於取數方法的不同就出現了全麵攤薄和加權平均的概念。

• 稀釋每股收益