Buyback Scorecard
Stock Buyback
ROI Edges into the Black, Barely
Best & Worst Companies
Industry Comparisons

The table below ranks the 305 companies in the S&P 500 that bought back at least 4 percent or more than $1 billion of their shares from June 30, 2014 to June 30, 2016. 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—300 | 301—305
  Company Industry Market
Capitalization 		$ Total
Buyback 		$ Total
Buyback
/ Market Cap 		Buyback
Strategy 		Buyback
Effectiveness 		Buyback ROI
  Average   $45,780 $3,582 10.6% 5.1% -3.3% 1.7%
  Median   $20,113 $1,700 7.7% 5.4% -2.2% 1.8%
201 The AES Corp. Utilities 8,224 565 6.9 -8.8 4.8 -4.4
202 Occidental Petroleum Corp. Energy 57,708 1,532 2.7 -7.5 3.3 -4.5
203 Monsanto Co. Materials 45,250 10,004 22.1 -6.2 1.4 -4.9
204 Fifth Third Bancorp Banks 13,504 1,520 11.3 -5.5 0.7 -4.9
205 Wells Fargo & Co. Banks 240,297 18,375 7.6 1.3 -6.3 -5.1
206 LyondellBasell Industries N.V. Materials 31,757 9,059 28.5 -3.9 -1.3 -5.1
207 Dover Corp. Capital Goods 10,755 884 8.2 -10.1 5.5 -5.2
208 Huntington Bancshares Banks 7,142 341 4.8 4.6 -9.4 -5.2
209 Best Buy Co. Retailing 9,876 1,326 13.4 12.3 -15.6 -5.2
210 PulteGroup Consumer Durables and Apparel 6,744 693 10.3 -0.2 -5.2 -5.4
211 F5 Networks Technology Hardware and Equipment 7,625 1,307 17.1 -0.1 -5.5 -5.6
212 Johnson Controls Automobiles and Components 28,697 1,887 6.6 -3.7 -2.5 -6.0
213 Fluor Corp. Capital Goods 6,861 1,102 16.1 -16.2 11.9 -6.2
214 International Paper Co. Materials 17,426 943 5.4 -1.4 -4.9 -6.3
215 Chevron Corp. Energy 197,573 2,393 1.2 -6.2 -0.1 -6.3
216 Twenty-First Century Fox Media 51,399 10,843 21.1 -5.2 -1.2 -6.3
217 Pentair Capital Goods 10,534 905 8.6 -10.7 4.6 -6.6
218 Pitney Bowes Commercial and Professional Services 3,357 387 11.5 -12.0 6.0 -6.7
219 V.F. Corp. Consumer Durables and Apparel 25,642 1,570 6.1 2.8 -9.3 -6.8
220 Michael Kors Holdings Consumer Durables and Apparel 8,731 2,051 23.5 -26.9 27.1 -7.0
221 Norfolk Southern Corp. Transportation 25,176 1,693 6.7 -4.5 -2.7 -7.1
222 Marriott International Consumer Services 16,896 3,019 17.9 7.7 -14.0 -7.4
223 Apple Technology Hardware and Equipment 523,642 75,949 14.5 10.1 -16.1 -7.6
224 Ametek Capital Goods 10,791 814 7.5 -3.7 -4.3 -7.8
225 Celgene Corp. Pharmaceuticals, Biotechnology and Life Sciences 76,399 5,766 7.5 16.6 -21.1 -7.9
226 Skyworks Solutions Semiconductors and Semiconductor Equipment 12,038 740 6.1 28.4 -28.6 -8.4
227 Ford Motor Co. Automobiles and Components 49,938 1,376 2.8 -5.4 -3.2 -8.4
228 Capital One Financial Corp. Diversified Financials 32,523 5,105 15.7 -3.6 -5.0 -8.4
229 Express Scripts Holding Co. Healthcare Equipment and Services 47,966 10,653 22.2 2.2 -10.8 -8.8
230 Wyndham Worldwide Corp. Consumer Services 7,974 1,315 16.5 0.8 -9.7 -8.9
231 McKesson Corp. Healthcare Equipment and Services 42,126 1,674 4.0 -0.2 -8.9 -9.1
232 Abbott Laboratories Healthcare Equipment and Services 57,752 2,759 4.8 2.9 -12.3 -9.7
233 Scripps Networks Interactive Media 8,030 937 11.7 -7.4 -2.7 -9.9
234 Flowserve Corp. Capital Goods 5,889 397 6.7 -20.4 12.8 -10.2
235 MetLife Insurance 43,760 2,996 6.8 -6.0 -4.5 -10.2
236 Archer-Daniels-Midland Co. Food, Beverage and Tobacco 25,201 3,217 12.8 -2.6 -8.0 -10.4
237 Caterpillar Capital Goods 44,265 4,526 10.2 -12.4 2.2 -10.5
238 Principal Financial Group Insurance 11,916 583 4.9 -2.5 -8.4 -10.6
239 KeyCorp. Banks 9,308 577 6.2 -5.1 -6.0 -10.7
240 CSX Corp. Transportation 24,929 1,579 6.3 -3.3 -7.8 -10.8
241 CarMax Retailing 9,438 1,891 20.0 6.3 -16.2 -10.9
242 Union Pacific Corp. Transportation 73,380 6,492 8.8 -4.5 -7.2 -11.3
243 Host Hotels & Resorts Real Estate 12,114 837 6.9 -10.8 -0.6 -11.4
244 HP Technology Hardware and Equipment 21,468 4,792 22.3 -6.6 -5.6 -11.9
245 Xerox Corp. Software and Services 9,613 1,894 19.7 -6.9 -5.5 -12.0
246 Gilead Sciences Pharmaceuticals, Biotechnology and Life Sciences 111,101 22,702 20.4 7.7 -18.3 -12.0
247 Whole Foods Market Food and Staples Retailing 10,279 1,542 15.0 -14.4 2.5 -12.3
248 AutoNation Retailing 4,844 965 19.9 -6.9 -5.9 -12.3
249 The Goldman Sachs Group Diversified Financials 64,959 9,929 15.3 -0.3 -12.3 -12.6
250 Quanta Services Capital Goods 3,492 1,655 47.4 -18.3 6.4 -13.1
Source: Fortuna Advisors Analysis using data from the Capital IQ database.

Financial Data from June 2014 to June 2016. Includes the 487 members of the current S&P 500 that were public for the full period.

Market Capitalization as of: 6/30/2016.

Companies included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 billion.