💰 Fundamental Analysis
EPS Calculator
Earnings Per Share — Basic, Diluted & YoY Growth
Calculate Basic EPS, Diluted EPS, and year-over-year EPS growth. Understand what a company earns for each share — the foundation of P/E ratio and stock valuation.
Basic EPSDiluted EPSEPS Growth %
NSE · BSENYSE · NASDAQNet Income / Shares
Basic EPS Inputs
Currency:
Examples:
Net Profit (Net Income)
Total earnings after tax, excluding minority interest
₹
Cr
₹1 Cr₹50,000 Cr
Preferred Dividends
Deducted before calculating EPS for common shareholders
₹
Cr
₹0₹1,000 Cr
Weighted Avg Shares Outstanding
Common shares — weighted average over the period
Cr
1 Cr5,000 Cr
Prior Year EPS (optional, for YoY)
Last year's EPS to calculate growth rate
₹
0₹500
Earnings Breakdown
₹20
EPS
EPS earnings
₹20.00
Pref. dividend
₹0.00
Total shares
250 Cr
EPS Quality Meter
Loss / 0LowGoodStrong
💪
EPS Quality
Strong Earnings
Solid profitability per share
Current EPS
₹20.00
YoY Growth
+25.0%
Basic EPS
₹20.00
Per share earnings
Net Income (Adj.)
₹5,000 Cr
After pref. dividends
YoY EPS Growth
+25.0%
vs prior year
EPS Yield
—
Enter price for yield
Diluted EPS — Accounting for Options, Warrants & Convertibles
Dilutive Shares:
Cr
(options/warrants/convertibles that could become shares)
Stock Price (for yield):
₹
Diluted EPS — Detailed Calculation
Diluted EPS is always ≤ Basic EPS. It assumes all dilutive securities (stock options, warrants, convertible bonds, RSUs) were exercised and converted to common shares. This gives the most conservative ("worst case") view of earnings per share.
Use the Basic EPS tab inputs — just enter the dilutive share count in the section below the results. The diluted EPS cards update automatically.
Use the Basic EPS tab inputs — just enter the dilutive share count in the section below the results. The diluted EPS cards update automatically.
Multi-Year EPS Growth Tracker
EPS Growth Chart (SVG)
EPS growth over 5 years — enter values above
EPS Formula — How to Calculate Earnings Per Share
Basic EPS = (Net Income − Preferred Dividends) ÷ Weighted Avg Shares Outstanding
Diluted EPS = (Net Income − Preferred Dividends) ÷ (Shares + Dilutive Securities)
EPS Yield (%) = EPS ÷ Market Price × 100
YoY EPS Growth (%) = ((Current EPS − Prior EPS) ÷ Prior EPS) × 100
Example: Net Profit ₹5,000 Cr ÷ 250 Cr shares = Basic EPS ₹20
Diluted EPS = (Net Income − Preferred Dividends) ÷ (Shares + Dilutive Securities)
EPS Yield (%) = EPS ÷ Market Price × 100
YoY EPS Growth (%) = ((Current EPS − Prior EPS) ÷ Prior EPS) × 100
Example: Net Profit ₹5,000 Cr ÷ 250 Cr shares = Basic EPS ₹20
Basic EPS vs Diluted EPS — Key Difference
| Metric | What It Includes | When Used | Which Is Better? |
|---|---|---|---|
| Basic EPS | Current outstanding common shares only | Income statements, quick screening | Optimistic — higher number |
| Diluted EPS | Common shares + options + warrants + convertibles | Annual reports, analyst consensus | Conservative — lower, more realistic |
| Rule of Thumb | Diluted EPS < Basic EPS always. Large gap = high dilution risk. Most analysts use diluted EPS for P/E calculation. | ||
EPS Benchmarks — What Is Good EPS?
EPS has no universal benchmark — it depends on share count, sector, and stage of business. A ₹5 EPS on a ₹50 stock gives 10% EPS yield (excellent); the same ₹5 on a ₹500 stock is only 1% (poor). Context matters.
| EPS Quality | EPS Yield Range | YoY Growth | Interpretation |
|---|---|---|---|
| 🔴 Loss | Negative | N/A | Company losing money — use other metrics |
| 🟡 Low | 0 – 1% | < 5% | Marginally profitable; watch closely |
| 🔵 Moderate | 1 – 3% | 5–10% | Decent — check vs sector peers |
| 🟢 Strong | 3 – 6% | 10–20% | Healthy profitability; attractive for investors |
| 🟣 Elite | > 6% | > 20% | Outstanding — rare for large caps |
EPS of Top Indian Stocks (NSE/BSE) — Reference
| Company | Approx Net Profit | Shares (Cr) | EPS (Approx) | P/E (Approx) |
|---|---|---|---|---|
| Reliance Industries | ₹79,020 Cr | 676 Cr | ₹117 | ~25× |
| TCS | ₹45,908 Cr | 367 Cr | ₹125 | ~27× |
| HDFC Bank | ₹60,812 Cr | 759 Cr | ₹80 | ~17× |
| Infosys | ₹26,248 Cr | 415 Cr | ₹63 | ~24× |
| ITC | ₹20,458 Cr | 1,250 Cr | ₹16 | ~22× |
| Bajaj Finance | ₹14,451 Cr | 62 Cr | ₹233 | ~30× |
| Coal India | ₹33,122 Cr | 616 Cr | ₹54 | ~6× |
Approximate figures — verify on NSE/BSE or Screener.in for latest data.
EPS of Top Global Stocks — Reference
| Company | Market | Approx EPS (USD) | P/E | Note |
|---|---|---|---|---|
| Apple (AAPL) | NASDAQ | $6.42 | ~28× | Buybacks reduce share count, boosting EPS |
| Microsoft (MSFT) | NASDAQ | $11.45 | ~35× | Cloud+AI margins expanding |
| Alphabet (GOOGL) | NASDAQ | $7.75 | ~22× | Post-20:1 split adjusted EPS |
| Berkshire Hathaway B | NYSE | $22.40 | ~21× | Operating EPS — excludes investment gains |
| HSBC Holdings | LSE | $1.52 | ~7× | UK banking — typically lower P/E |
How Buybacks Boost EPS Without Profit Growth
Share buybacks are a legal and common way companies increase EPS without actually earning more money. When a company buys back its own shares, the share count (denominator) falls, so EPS rises even if net income is flat. Apple has spent over $600 billion on buybacks, significantly boosting its EPS per share each year.
Example: Net Income = ₹10,000 Cr (unchanged)
Before buyback: 500 Cr shares → EPS = ₹20
After buyback of 50 Cr shares: 450 Cr shares → EPS = ₹22.22
EPS grew 11.1% with zero increase in profit — just fewer shares!
Before buyback: 500 Cr shares → EPS = ₹20
After buyback of 50 Cr shares: 450 Cr shares → EPS = ₹22.22
EPS grew 11.1% with zero increase in profit — just fewer shares!
This is why savvy investors look at EPS growth alongside revenue growth and profit margin trends. EPS growing faster than revenue for many years is a signal to investigate buybacks.
Frequently Asked Questions
What is EPS and why does it matter?▾
EPS (Earnings Per Share) tells you how much profit a company generated for each outstanding share. It's the foundation of most stock valuation metrics — P/E ratio = Price ÷ EPS. PEG ratio = (P/E) ÷ EPS growth rate. Dividend payout ratio = Dividend per share ÷ EPS. Without EPS, you can't calculate any of these. For investors, consistent EPS growth over years is one of the best indicators of a compounding business.
Why do I subtract preferred dividends to calculate EPS?▾
Preferred shareholders have a fixed claim on profits before common shareholders. Their dividends are mandatory — like interest on debt — so common shareholders only "own" what's left after preferred dividends are paid. If preferred dividends are not deducted, EPS overstates what common shareholders actually earned. Most Indian companies don't have significant preferred share structures, but this is important for US stocks and financial companies.
What is weighted average shares and why not just use current shares?▾
Companies issue or buy back shares throughout the year. If a company had 200 Cr shares for 6 months and 300 Cr shares for the other 6 months, using year-end shares (300 Cr) would misrepresent EPS. The weighted average = (200 × 6/12) + (300 × 6/12) = 250 Cr shares — which fairly represents the average capital base that generated profits. NSE/BSE quarterly results always use weighted average shares for EPS calculation per SEBI guidelines.
Which EPS does Zerodha/Screener.in show — Basic or Diluted?▾
Screener.in, Zerodha Kite, Moneycontrol, and most Indian financial platforms show Basic EPS for Indian stocks by default. The difference between basic and diluted is usually small for Indian companies since ESOPs (employee stock options) are typically a small fraction of total shares. For US stocks on platforms like Yahoo Finance, analysts generally use diluted EPS — P/E ratios on US stocks are almost always calculated using diluted EPS.
What is TTM EPS and how is it different from annual EPS?▾
TTM stands for Trailing Twelve Months — the sum of EPS from the last 4 quarters (not necessarily matching the fiscal year). If a company's fiscal year ends March 31 but you're analyzing it in November, TTM EPS = Q2 FY25 + Q1 FY25 + Q4 FY24 + Q3 FY24. TTM is more current than annual EPS and is what Screener.in, Tickertape, and most platforms use when showing current P/E ratios. Always check whether a platform uses TTM or fiscal year EPS when comparing P/E across sources.
How do I use EPS to find the fair value of a stock?▾
The simplest method: Fair Value = EPS × Appropriate P/E multiple. The "appropriate" P/E depends on the sector (use our P/E Calculator for sector benchmarks). Example: If TCS has EPS of ₹125 and the IT sector average P/E is 25×, a rough fair value = ₹125 × 25 = ₹3,125. More sophisticated: use EPS × (1 + growth rate)^n × terminal P/E discounted back. This forms the backbone of the DCF model. For growth companies, combine EPS with PEG ratio using our PEG Calculator.
What does negative EPS mean? How to handle it?▾
Negative EPS means the company posted a net loss — it spent more than it earned. This is common for: (1) Early-stage startups investing in growth (Zomato, Paytm in early years), (2) Cyclical companies during downturns (steel, airlines during COVID), (3) Companies with high interest expenses or extraordinary write-offs. When EPS is negative, P/E ratio becomes meaningless. Use alternative metrics: P/S (Price/Sales), EV/EBITDA, or P/B (Price/Book). For Indian startups: focus on EBITDA-level profitability and path to positive EPS.
Is this EPS calculator free?▾
100% free, no signup required. Calculates Basic EPS, Diluted EPS, EPS yield, year-over-year EPS growth, dilution impact, and multi-year EPS growth tracking. Works for Indian stocks (NSE/BSE, values in Crores) and global stocks (USD, GBP, EUR). All calculations run instantly in your browser.
💰 Fundamental Analysis
EPS Calculator
Earnings Per Share — Basic, Diluted & YoY Growth
Calculate Basic EPS, Diluted EPS, and year-over-year EPS growth. Understand what a company earns for each share — the foundation of P/E ratio and stock valuation.
Basic EPSDiluted EPSEPS Growth %
NSE · BSENYSE · NASDAQNet Income / Shares
Basic EPS Inputs
Currency:
Examples:
Net Profit (Net Income)
Total earnings after tax, excluding minority interest
₹
Cr
₹1 Cr₹50,000 Cr
Preferred Dividends
Deducted before calculating EPS for common shareholders
₹
Cr
₹0₹1,000 Cr
Weighted Avg Shares Outstanding
Common shares — weighted average over the period
Cr
1 Cr5,000 Cr
Prior Year EPS (optional, for YoY)
Last year's EPS to calculate growth rate
₹
0₹500
Earnings Breakdown
₹20
EPS
EPS earnings
₹20.00
Pref. dividend
₹0.00
Total shares
250 Cr
EPS Quality Meter
Loss / 0LowGoodStrong
💪
EPS Quality
Strong Earnings
Solid profitability per share
Current EPS
₹20.00
YoY Growth
+25.0%
Basic EPS
₹20.00
Per share earnings
Net Income (Adj.)
₹5,000 Cr
After pref. dividends
YoY EPS Growth
+25.0%
vs prior year
EPS Yield
—
Enter price for yield
Diluted EPS — Accounting for Options, Warrants & Convertibles
Dilutive Shares:
Cr
(options/warrants/convertibles that could become shares)
Stock Price (for yield):
₹
Diluted EPS — Detailed Calculation
Diluted EPS is always ≤ Basic EPS. It assumes all dilutive securities (stock options, warrants, convertible bonds, RSUs) were exercised and converted to common shares. This gives the most conservative ("worst case") view of earnings per share.
Use the Basic EPS tab inputs — just enter the dilutive share count in the section below the results. The diluted EPS cards update automatically.
Use the Basic EPS tab inputs — just enter the dilutive share count in the section below the results. The diluted EPS cards update automatically.
Multi-Year EPS Growth Tracker
EPS Growth Chart (SVG)
EPS growth over 5 years — enter values above
EPS Formula — How to Calculate Earnings Per Share
Basic EPS = (Net Income − Preferred Dividends) ÷ Weighted Avg Shares Outstanding
Diluted EPS = (Net Income − Preferred Dividends) ÷ (Shares + Dilutive Securities)
EPS Yield (%) = EPS ÷ Market Price × 100
YoY EPS Growth (%) = ((Current EPS − Prior EPS) ÷ Prior EPS) × 100
Example: Net Profit ₹5,000 Cr ÷ 250 Cr shares = Basic EPS ₹20
Diluted EPS = (Net Income − Preferred Dividends) ÷ (Shares + Dilutive Securities)
EPS Yield (%) = EPS ÷ Market Price × 100
YoY EPS Growth (%) = ((Current EPS − Prior EPS) ÷ Prior EPS) × 100
Example: Net Profit ₹5,000 Cr ÷ 250 Cr shares = Basic EPS ₹20
Basic EPS vs Diluted EPS — Key Difference
| Metric | What It Includes | When Used | Which Is Better? |
|---|---|---|---|
| Basic EPS | Current outstanding common shares only | Income statements, quick screening | Optimistic — higher number |
| Diluted EPS | Common shares + options + warrants + convertibles | Annual reports, analyst consensus | Conservative — lower, more realistic |
| Rule of Thumb | Diluted EPS < Basic EPS always. Large gap = high dilution risk. Most analysts use diluted EPS for P/E calculation. | ||
EPS Benchmarks — What Is Good EPS?
EPS has no universal benchmark — it depends on share count, sector, and stage of business. A ₹5 EPS on a ₹50 stock gives 10% EPS yield (excellent); the same ₹5 on a ₹500 stock is only 1% (poor). Context matters.
| EPS Quality | EPS Yield Range | YoY Growth | Interpretation |
|---|---|---|---|
| 🔴 Loss | Negative | N/A | Company losing money — use other metrics |
| 🟡 Low | 0 – 1% | < 5% | Marginally profitable; watch closely |
| 🔵 Moderate | 1 – 3% | 5–10% | Decent — check vs sector peers |
| 🟢 Strong | 3 – 6% | 10–20% | Healthy profitability; attractive for investors |
| 🟣 Elite | > 6% | > 20% | Outstanding — rare for large caps |
EPS of Top Indian Stocks (NSE/BSE) — Reference
| Company | Approx Net Profit | Shares (Cr) | EPS (Approx) | P/E (Approx) |
|---|---|---|---|---|
| Reliance Industries | ₹79,020 Cr | 676 Cr | ₹117 | ~25× |
| TCS | ₹45,908 Cr | 367 Cr | ₹125 | ~27× |
| HDFC Bank | ₹60,812 Cr | 759 Cr | ₹80 | ~17× |
| Infosys | ₹26,248 Cr | 415 Cr | ₹63 | ~24× |
| ITC | ₹20,458 Cr | 1,250 Cr | ₹16 | ~22× |
| Bajaj Finance | ₹14,451 Cr | 62 Cr | ₹233 | ~30× |
| Coal India | ₹33,122 Cr | 616 Cr | ₹54 | ~6× |
Approximate figures — verify on NSE/BSE or Screener.in for latest data.
EPS of Top Global Stocks — Reference
| Company | Market | Approx EPS (USD) | P/E | Note |
|---|---|---|---|---|
| Apple (AAPL) | NASDAQ | $6.42 | ~28× | Buybacks reduce share count, boosting EPS |
| Microsoft (MSFT) | NASDAQ | $11.45 | ~35× | Cloud+AI margins expanding |
| Alphabet (GOOGL) | NASDAQ | $7.75 | ~22× | Post-20:1 split adjusted EPS |
| Berkshire Hathaway B | NYSE | $22.40 | ~21× | Operating EPS — excludes investment gains |
| HSBC Holdings | LSE | $1.52 | ~7× | UK banking — typically lower P/E |
How Buybacks Boost EPS Without Profit Growth
Share buybacks are a legal and common way companies increase EPS without actually earning more money. When a company buys back its own shares, the share count (denominator) falls, so EPS rises even if net income is flat. Apple has spent over $600 billion on buybacks, significantly boosting its EPS per share each year.
Example: Net Income = ₹10,000 Cr (unchanged)
Before buyback: 500 Cr shares → EPS = ₹20
After buyback of 50 Cr shares: 450 Cr shares → EPS = ₹22.22
EPS grew 11.1% with zero increase in profit — just fewer shares!
Before buyback: 500 Cr shares → EPS = ₹20
After buyback of 50 Cr shares: 450 Cr shares → EPS = ₹22.22
EPS grew 11.1% with zero increase in profit — just fewer shares!
This is why savvy investors look at EPS growth alongside revenue growth and profit margin trends. EPS growing faster than revenue for many years is a signal to investigate buybacks.
Frequently Asked Questions
What is EPS and why does it matter?▾
EPS (Earnings Per Share) tells you how much profit a company generated for each outstanding share. It's the foundation of most stock valuation metrics — P/E ratio = Price ÷ EPS. PEG ratio = (P/E) ÷ EPS growth rate. Dividend payout ratio = Dividend per share ÷ EPS. Without EPS, you can't calculate any of these. For investors, consistent EPS growth over years is one of the best indicators of a compounding business.
Why do I subtract preferred dividends to calculate EPS?▾
Preferred shareholders have a fixed claim on profits before common shareholders. Their dividends are mandatory — like interest on debt — so common shareholders only "own" what's left after preferred dividends are paid. If preferred dividends are not deducted, EPS overstates what common shareholders actually earned. Most Indian companies don't have significant preferred share structures, but this is important for US stocks and financial companies.
What is weighted average shares and why not just use current shares?▾
Companies issue or buy back shares throughout the year. If a company had 200 Cr shares for 6 months and 300 Cr shares for the other 6 months, using year-end shares (300 Cr) would misrepresent EPS. The weighted average = (200 × 6/12) + (300 × 6/12) = 250 Cr shares — which fairly represents the average capital base that generated profits. NSE/BSE quarterly results always use weighted average shares for EPS calculation per SEBI guidelines.
Which EPS does Zerodha/Screener.in show — Basic or Diluted?▾
Screener.in, Zerodha Kite, Moneycontrol, and most Indian financial platforms show Basic EPS for Indian stocks by default. The difference between basic and diluted is usually small for Indian companies since ESOPs (employee stock options) are typically a small fraction of total shares. For US stocks on platforms like Yahoo Finance, analysts generally use diluted EPS — P/E ratios on US stocks are almost always calculated using diluted EPS.
What is TTM EPS and how is it different from annual EPS?▾
TTM stands for Trailing Twelve Months — the sum of EPS from the last 4 quarters (not necessarily matching the fiscal year). If a company's fiscal year ends March 31 but you're analyzing it in November, TTM EPS = Q2 FY25 + Q1 FY25 + Q4 FY24 + Q3 FY24. TTM is more current than annual EPS and is what Screener.in, Tickertape, and most platforms use when showing current P/E ratios. Always check whether a platform uses TTM or fiscal year EPS when comparing P/E across sources.
How do I use EPS to find the fair value of a stock?▾
The simplest method: Fair Value = EPS × Appropriate P/E multiple. The "appropriate" P/E depends on the sector (use our P/E Calculator for sector benchmarks). Example: If TCS has EPS of ₹125 and the IT sector average P/E is 25×, a rough fair value = ₹125 × 25 = ₹3,125. More sophisticated: use EPS × (1 + growth rate)^n × terminal P/E discounted back. This forms the backbone of the DCF model. For growth companies, combine EPS with PEG ratio using our PEG Calculator.
What does negative EPS mean? How to handle it?▾
Negative EPS means the company posted a net loss — it spent more than it earned. This is common for: (1) Early-stage startups investing in growth (Zomato, Paytm in early years), (2) Cyclical companies during downturns (steel, airlines during COVID), (3) Companies with high interest expenses or extraordinary write-offs. When EPS is negative, P/E ratio becomes meaningless. Use alternative metrics: P/S (Price/Sales), EV/EBITDA, or P/B (Price/Book). For Indian startups: focus on EBITDA-level profitability and path to positive EPS.
Is this EPS calculator free?▾
100% free, no signup required. Calculates Basic EPS, Diluted EPS, EPS yield, year-over-year EPS growth, dilution impact, and multi-year EPS growth tracking. Works for Indian stocks (NSE/BSE, values in Crores) and global stocks (USD, GBP, EUR). All calculations run instantly in your browser.