EPS Differences Using Different Earnings Measurement Methods Evidence from Spain

This paper examines how EPS differs when calculated using two different measures of income: net income and comprehensive income. To examine how the measures differ in practice Spanish companies listed on the IBEX-35, during the period 2004-2008 are examined. This period covers a time of serious financial crisis. The Wilcoxon Signed-Rank Test was used to identify differences. The results show statistically significant differences in EPS depending upon calculation method for three of the years studied. Results in 2008 are specifically noteworthy. The evidence suggests a new dimension in fundamental analysis