Buyback Scorecard Have Stock Buybacks Lost Their Credibility?Best & Worst CompaniesIndustry ComparisonsThe 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 March 31, 2014 to March 31, 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 | $45,750 | $3,542 | 10.2% | 3.0% | -8.6% | -5.3% | ||
| Median | $20,394 | $1,726 | 7.8% | 3.6% | -7.4% | -5.3% | ||
| 201 | Unum Group | Insurance | 7,386 | 732 | 9.9 | -5.4 | -8.7 | -13.6 |
| 202 | Hanesbrands | Consumer Durables and Apparel | 10,997 | 731 | 6.7 | 27.9 | -32.6 | -13.8 |
| 203 | Marathon Petroleum Corp. | Energy | 19,677 | 2,482 | 12.6 | -4.7 | -9.6 | -13.9 |
| 204 | The Goldman Sachs Group | Diversified Financials | 65,850 | 9,441 | 14.3 | -2.8 | -11.4 | -13.9 |
| 205 | TE Connectivity | Technology Hardware and Equipment | 22,890 | 3,732 | 16.3 | 2.6 | -16.3 | -14.1 |
| 206 | Prudential Financial | Insurance | 32,086 | 2,890 | 9.0 | -7.4 | -7.3 | -14.1 |
| 207 | Monsanto Co. | Materials | 38,629 | 10,154 | 26.3 | -8.3 | -6.7 | -14.5 |
| 208 | AutoNation | Retailing | 4,813 | 980 | 20.4 | -2.4 | -12.4 | -14.6 |
| 209 | H&R Block | Consumer Services | 5,929 | 1,909 | 32.2 | 4.8 | -18.5 | -14.6 |
| 210 | Occidental Petroleum Corp. | Energy | 52,263 | 2,154 | 4.1 | -10.2 | -4.9 | -14.6 |
| 211 | AbbVie | Pharmaceuticals, Biotechnology and Life Sciences | 92,405 | 8,300 | 9.0 | 8.6 | -21.6 | -14.9 |
| 212 | PulteGroup | Consumer Durables and Apparel | 6,481 | 698 | 10.8 | -5.7 | -9.9 | -15.1 |
| 213 | Carnival Corp. | Consumer Services | 39,865 | 1,449 | 3.6 | 13.2 | -25.0 | -15.1 |
| 214 | Capital One Financial Corp. | Diversified Financials | 35,977 | 5,417 | 15.1 | -3.4 | -12.3 | -15.2 |
| 215 | Abbott Laboratories | Healthcare Equipment and Services | 61,626 | 2,759 | 4.5 | 3.6 | -18.4 | -15.5 |
| 216 | Pitney Bowes | Commercial and Professional Services | 4,085 | 321 | 7.8 | -9.3 | -6.8 | -15.5 |
| 217 | Scripps Networks Interactive | Media | 8,441 | 1,237 | 14.7 | -11.5 | -4.6 | -15.5 |
| 218 | United Technologies Corp. | Capital Goods | 83,757 | 10,405 | 12.4 | -8.0 | -9.0 | -16.3 |
| 219 | Chevron Corp. | Energy | 179,653 | 3,222 | 1.8 | -9.7 | -7.4 | -16.4 |
| 220 | International Business Machines Corp. | Software and Services | 145,525 | 9,304 | 6.4 | -12.3 | -4.7 | -16.4 |
| 221 | Xerox Corp. | Software and Services | 11,304 | 2,098 | 18.6 | -4.0 | -12.9 | -16.5 |
| 222 | Twenty-First Century Fox | Media | 53,728 | 10,917 | 20.3 | -7.5 | -10.0 | -16.8 |
| 223 | Dover Corp. | Capital Goods | 9,979 | 909 | 9.1 | -9.7 | -8.0 | -16.9 |
| 224 | Schlumberger | Energy | 92,426 | 4,408 | 4.8 | -9.9 | -7.8 | -17.0 |
| 225 | Whole Foods Market | Food and Staples Retailing | 10,099 | 1,708 | 16.9 | -22.4 | 6.7 | -17.2 |
| 226 | TEGNA | Media | 5,129 | 218 | 4.3 | 4.2 | -20.6 | -17.3 |
| 227 | Mead Johnson Nutrition Co. | Food, Beverage and Tobacco | 15,843 | 1,493 | 9.4 | -2.5 | -15.3 | -17.4 |
| 228 | Fifth Third Bancorp | Banks | 13,082 | 1,645 | 12.6 | -10.9 | -7.3 | -17.4 |
| 229 | Fluor Corp. | Capital Goods | 7,476 | 1,102 | 14.7 | -21.2 | 4.5 | -17.7 |
| 230 | KeyCorp. | Banks | 9,225 | 683 | 7.4 | -6.8 | -11.7 | -17.7 |
| 231 | Discover Financial Services | Diversified Financials | 21,091 | 3,337 | 15.8 | -5.5 | -13.1 | -17.9 |
| 232 | Garmin | Consumer Durables and Apparel | 7,581 | 384 | 5.1 | -9.6 | -9.4 | -18.1 |
| 233 | MetLife | Insurance | 48,188 | 3,000 | 6.2 | -7.2 | -11.8 | -18.2 |
| 234 | Kohl’s Corp. | Retailing | 8,631 | 1,681 | 19.5 | -3.6 | -15.5 | -18.6 |
| 235 | F5 Networks | Technology Hardware and Equipment | 7,277 | 1,307 | 18.0 | -4.8 | -14.6 | -18.8 |
| 236 | Weyerhaeuser Co. | Real Estate | 24,455 | 1,396 | 5.7 | -2.3 | -17.0 | -18.9 |
| 237 | CarMax | Retailing | 10,002 | 1,908 | 19.1 | 0.5 | -19.9 | -19.5 |
| 238 | Discovery Communications | Media | 15,855 | 2,480 | 15.6 | -19.5 | -0.8 | -20.1 |
| 239 | State Street Corp. | Diversified Financials | 23,409 | 3,386 | 14.5 | -7.8 | -13.5 | -20.2 |
| 240 | Pentair | Capital Goods | 9,804 | 1,103 | 11.3 | -19.7 | -1.1 | -20.6 |
| 241 | Best Buy Co. | Retailing | 10,489 | 1,107 | 10.6 | 8.7 | -27.1 | -20.8 |
| 242 | Regions Financial Corp. | Banks | 10,025 | 1,046 | 10.4 | -10.8 | -11.5 | -21.0 |
| 243 | Johnson Controls | Automobiles and Components | 25,262 | 1,412 | 5.6 | -11.3 | -11.2 | -21.2 |
| 244 | DaVita HealthCare Partners | Healthcare Equipment and Services | 15,392 | 826 | 5.4 | 0.8 | -22.5 | -21.9 |
| 245 | Comerica | Banks | 6,623 | 469 | 7.1 | -11.9 | -11.5 | -22.1 |
| 246 | Caterpillar | Capital Goods | 44,571 | 4,526 | 10.2 | -12.7 | -10.8 | -22.1 |
| 247 | Union Pacific Corp. | Transportation | 67,332 | 6,752 | 10.0 | -4.7 | -18.4 | -22.2 |
| 248 | Martin Marietta Materials | Materials | 10,262 | 670 | 6.5 | 10.6 | -29.8 | -22.4 |
| 249 | CSX Corp. | Transportation | 24,651 | 1,443 | 5.9 | -4.4 | -19.0 | -22.6 |
| 250 | The AES Corp. | Utilities | 7,785 | 869 | 11.2 | -13.7 | -10.8 | -23.0 |
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from March 2014 to March 2016. Includes the 486 members of the Market Capitalization as of: 3/31/2016. Companies Included here if $ Total Buyback / Market Capitalization is greater than | ||||||||
