2012 Corporate Buyback Scorecard
The table below ranks the buyback programs of the S&P 500 companies by the industries to which they belong, according to their return on investment on purchases of at least 4 percent of their shares from June 30, 2010, to June 30, 2012. As calculated by Fortuna Advisors, a New York City-based consultancy that compiled the data for Institutional Investor, buyback ROI measures the overall rate of return of buybacks, based on the internal rate of return of the cash flows associated with them. Buyback strategy tracks the performance of the underlying stock in terms of annualized total shareholder return. Once Fortuna determines buyback ROI and buyback strategy, buyback effectiveness can then be calculated as simply the difference between the two, determined as compounded return.
|
How Industries Compare as Stock Repurchasers |
| Telecom |
$398,393 |
$5,037 |
1.3% |
3.3% |
34.2% |
38.7% |
| Banks |
$357,851 |
$7,031 |
2.0% |
3.2% |
21.4% |
25.3% |
| Retailing |
$508,986 |
$50,291 |
9.9% |
82.9% |
-32.6% |
23.4% |
| Real Estate |
$101,334 |
$590 |
0.6% |
5.0% |
16.5% |
22.4% |
| Consumer Drbls |
$135,978 |
$10,196 |
7.5% |
61.5% |
-25.0% |
21.2% |
| Pharma |
$984,782 |
$62,835 |
6.4% |
26.7% |
-5.1% |
20.2% |
| Food and Bev |
$829,033 |
$41,435 |
5.0% |
23.6% |
-3.0% |
19.9% |
| Consumer Svcs |
$264,558 |
$15,986 |
6.0% |
20.2% |
-0.3% |
19.8% |
| Semiconductors |
$287,115 |
$28,337 |
9.9% |
27.5% |
-6.2% |
19.6% |
| Software and Svcs |
$1,311,242 |
$87,074 |
6.6% |
54.0% |
-23.4% |
18.0% |
| Materials |
$416,067 |
$14,443 |
3.5% |
27.0% |
-7.7% |
17.2% |
| Autos |
$76,307 |
$1,228 |
1.6% |
26.7% |
-7.6% |
17.0% |
| Media |
$399,153 |
$47,072 |
11.8% |
90.9% |
-39.5% |
15.4% |
| Food and Staples |
$414,205 |
$29,852 |
7.2% |
19.0% |
-5.7% |
12.2% |
| Insurance |
$330,303 |
$29,064 |
8.8% |
23.2% |
-9.2% |
11.9% |
| Healthcare |
$482,553 |
$46,759 |
9.7% |
67.6% |
-33.6% |
11.2% |
| Household |
$287,823 |
$18,905 |
6.6% |
33.9% |
-17.3% |
10.8% |
| Utilities |
$442,842 |
$5,657 |
1.3% |
2.7% |
7.8% |
10.7% |
| Transportation |
$234,869 |
$14,806 |
6.3% |
22.5% |
-10.5% |
9.7% |
| Cap Goods |
$946,682 |
$43,531 |
4.6% |
12.0% |
-2.8% |
8.9% |
| Energy |
$1,192,665 |
$73,954 |
6.2% |
24.1% |
-12.7% |
8.3% |
| Comm and Prof Svcs |
$64,757 |
$5,375 |
8.3% |
7.5% |
-4.6% |
2.6% |
| Financials |
$1,038,511 |
$46,223 |
4.5% |
1.2% |
-3.4% |
-2.3% |
| S&P 500 |
$12,497,551 |
$735,130 |
5.9% |
12.5% |
-0.2% |
12.2% |