Free research worksheet
GAAP to adjusted EPS calculator
Rebuild an issuer’s EPS reconciliation one adjustment at a time. See whether the numbers add up, and keep any unexplained difference visible.
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2. Inspect the calculation
Enter figures and calculate, or load a clearly labeled example.
3. Review a source-checking question
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Method and worked examples
The formula
Calculated adjusted EPS = GAAP EPS + the sum of signed adjustments. Unexplained difference = issuer-reported adjusted EPS − calculated adjusted EPS. A positive adjustment increases EPS; removing a gain can require a negative adjustment.
A worked example
Hypothetical GAAP EPS of 1.20, an after-tax expense add-back of +0.20 and a gain removal of −0.10 produce adjusted EPS of 1.30. If the issuer reports 1.35, the unexplained difference is +0.05. Keep that gap visible instead of inventing an adjustment to make it disappear.
Use the issuer’s reconciliation
Enter effects already expressed after tax and per share, on the same share denominator. Do not mix total-dollar adjustments with EPS or infer missing tax and share-count effects. If the issuer changes the denominator, use its disclosed per-share bridge or research the income and share-count reconciliation separately.
What a matching total means
A match verifies only the arithmetic at the precision entered. It does not show that an exclusion is economically appropriate or that a presentation complies with reporting rules. Published rounding can explain a small gap; read the source and compare definitions across periods.
Sources and further research
- SEC: non-GAAP reconciliation and presentation guidance
- GAAP versus adjusted EPS research guide
- Find published FN2 earnings reports