Buyback Scorecard CFOs Share Their Stock Buyback Secrets Best and Worst Programs Industry Comparisons

The table below ranks the 274 companies in the S&P 500 that bought back at least 4 percent of their shares from June 30, 2012, through June 30, 2014. The companies are ranked according to their return on investment from these repurchases. 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 the S&P 500 Stack Up as Stock Repurchasers 1—50 | 51—100 | 101—150 | 151—200 | 201—250 | 251—274
	Company	Industry	Market Capitalization	$ Total Buyback	$ Total Buyback / Market Cap	Buyback Strategy	Buyback Effectiveness	Buyback ROI
	Average		$47,210	$3,341	8.5%	24.7%	0.0%	24.5%
	Median		$21,878	$1,619	7.4%	24.9%	0.1%	24.0%
101	Ball Corp.	Materials	8,738	958	11.0	20.2	6.9	28.5
102	Johnson & Johnson	Pharmaceuticals, Biotechnology and Life Sciences	295,980	17,687	6.0	29.3	-0.7	28.4
103	Marsh & McLennan Cos.	Insurance	28,480	1,172	4.1	27.1	1.1	28.4
104	Hasbro	Consumer Durables and Apparel	6,887	406	5.9	28.2	0.1	28.3
105	CR Bard	Healthcare Equipment and Services	10,906	1,560	14.3	20.7	6.1	28.1
106	Time Warner	Media	61,967	5,831	9.4	40.9	-9.2	28.0
107	Agilent Technologies	Pharmaceuticals, Biotechnology and Life Sciences	19,143	1,194	6.2	18.5	7.9	27.9
108	Reynolds American	Food, Beverage and Tobacco	32,376	1,198	3.7	23.8	3.0	27.6
109	Twenty-First Century Fox	Media	77,522	5,606	7.2	41.1	-9.7	27.4
110	AutoZone	Retailing	17,481	2,779	15.9	17.8	8.1	27.4
111	Avery Dennison Corp.	Materials	4,879	455	9.3	33.5	-4.8	27.1
112	Mondelez International	Food, Beverage and Tobacco	63,616	1,513	2.4	23.3	2.9	26.9
113	Rockwell Collins	Capital Goods	10,588	704	6.6	24.7	1.8	26.9
114	Viacom	Media	37,279	7,344	19.7	36.7	-7.2	26.8
115	Huntington Bancshares	Banks	7,897	481	6.1	24.4	1.8	26.7
116	Cigna Corp.	Healthcare Equipment and Services	24,708	2,240	9.1	37.1	-7.7	26.5
117	QUALCOMM	Technology Hardware and Equipment	133,680	8,805	6.6	16.7	8.4	26.5
118	BlackRock	Diversified Financials	54,057	2,415	4.5	33.8	-5.5	26.4
119	Honeywell International	Capital Goods	71,791	1,941	2.7	30.3	-3.1	26.2
120	UnitedHealth Group	Healthcare Equipment and Services	80,104	6,382	8.0	19.0	6.0	26.1
121	Medtronic	Healthcare Equipment and Services	63,517	4,395	6.9	29.9	-2.9	26.1
122	MasterCard	Software and Services	85,842	6,099	7.1	32.5	-4.9	26.1
123	Comcast Corp.	Media	139,405	5,000	3.6	33.9	-5.9	26.0
124	Starbucks Corp.	Consumer Services	58,252	1,717	2.9	16.1	8.5	26.0
125	Pall Corp.	Capital Goods	9,366	522	5.6	24.7	1.0	25.9
126	The Bank of New York Mellon Corp.	Diversified Financials	42,741	2,293	5.4	28.3	-1.9	25.8
127	Dr Pepper Snapple Group	Food, Beverage and Tobacco	11,504	904	7.9	20.8	4.1	25.8
128	The Allstate Corp.	Insurance	25,484	3,421	13.4	33.9	-6.1	25.7
129	Merck & Co.	Pharmaceuticals, Biotechnology and Life Sciences	169,059	11,535	6.8	26.4	-0.5	25.7
130	Fifth Third Bancorp	Banks	18,026	2,144	11.9	27.9	-1.7	25.7
131	Marathon Petroleum Corp.	Energy	22,534	4,441	19.7	53.4	-18.3	25.3
132	Intuit	Software and Services	22,861	1,889	8.3	17.1	6.9	25.1
133	Eastman Chemical Co.	Materials	13,203	600	4.5	35.1	-7.4	25.0
134	Joy Global	Capital Goods	6,166	344	5.6	-1.9	27.3	24.9
135	Amgen	Pharmaceuticals, Biotechnology and Life Sciences	89,609	2,859	3.2	31.5	-5.4	24.4
136	CSX Corp.	Transportation	30,944	1,044	3.4	18.9	4.5	24.2
137	Invesco	Diversified Financials	16,334	755	4.6	28.6	-3.5	24.2
138	Nike	Consumer Durables and Apparel	68,100	3,889	5.7	19.6	3.6	23.9
139	United Technologies Corp.	Capital Goods	105,837	1,870	1.8	26.2	-1.8	23.9
140	Oracle Corp.	Software and Services	180,557	20,834	11.5	23.0	0.7	23.8
141	AutoNation	Retailing	7,125	293	4.1	25.7	-1.5	23.8
142	KLA-Tencor Corp.	Semiconductors and Semiconductor Equipment	12,046	514	4.3	19.3	3.5	23.5
143	Wyndham Worldwide Corp.	Consumer Services	9,640	1,191	12.4	23.5	0.0	23.5
144	F5 Networks	Technology Hardware and Equipment	8,439	751	8.9	-4.0	28.4	23.2
145	Morgan Stanley	Diversified Financials	63,732	1,691	2.7	43.4	-14.1	23.1
146	Prudential Financial	Insurance	41,012	1,388	3.4	30.7	-5.9	23.0
147	Capital One Financial Corp.	Diversified Financials	47,213	2,014	4.3	22.4	0.1	22.5
148	Visa	Software and Services	132,405	9,050	6.8	33.5	-8.3	22.5
149	CBS Corp.	Media	35,497	4,928	13.9	37.2	-11.0	22.2
150	Expedia	Retailing	10,226	760	7.4	35.0	-9.6	22.0
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2012 to June 2014. Includes the 490 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/01/2014. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.