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First-Quarter 2016 Corporate Buyback Scorecard; 101–150

Buyback Scorecard Have Stock Buybacks Lost Their Credibility?Best & Worst CompaniesIndustry 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 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
$ Total
$ Total
/ Market Cap
Buyback ROI
 Average $45,750$3,54210.2%3.0%-8.6%-5.3%
 Median $20,394$1,7267.8%3.6%-7.4%-5.3%
101MasterCardSoftware and Services104,9656,5926.37.1-3.13.8
102XL GroupInsurance10,7471,45013.511.3-7.03.5
104CASoftware and Services12,8329227.2-
105General Dynamics Corp.Capital Goods40,8776,21115.215.5-10.92.9
106General Electric Co.Capital Goods295,1748,1042.710.6-7.02.9
107The Procter & Gamble Co.Household and Personal Products222,6137,6073.44.4-1.82.6
108Automatic Data ProcessingSoftware and Services41,0382,6486.513.7-9.82.5
109PerkinElmerPharmaceuticals, Biotechnology and Life Sciences5,4502895.35.0-2.42.5
110Comcast Corp.Media149,18211,5007.76.8-4.12.4
111Illinois Tool WorksCapital Goods36,9663,92310.69.3-6.42.4
112Brown-Forman Corp.Food, Beverage and Tobacco20,3941,2246.010.0-7.41.9
113Expeditors International of WashingtonTransportation8,9111,02411.57.3-5.21.7
114Colgate-Palmolive Co.Household and Personal Products63,0282,8574.55.1-3.31.5
115HCA HoldingsHealthcare Equipment and Services30,8904,76815.418.5-14.31.5
116Amphenol Corp.Technology Hardware and Equipment17,8117164.09.0-6.91.4
117The Macerich Co.Real Estate11,8198006.821.8-16.91.3
118L-3 Communications HoldingsCapital Goods9,1861,19613.04.4-3.01.2
119The Western Union Co.Software and Services9,5601,05711.18.4-6.81.1
120Cisco SystemsTechnology Hardware and Equipment143,2649,9827.011.3-9.40.8
121Lam Research Corp.Semiconductors and Semiconductor Equipment13,1257455.718.3-14.90.7
122Wal-Mart StoresFood and Staples Retailing215,3567,2363.4-
124Analog DevicesSemiconductors and Semiconductor Equipment18,3508174.55.9-5.50.0
125Stanley Black & DeckerCapital Goods15,7711,0136.412.5-11.1-0.1
126FLIR SystemsTechnology Hardware and Equipment4,5332615.8-2.01.9-0.1
127The Allstate Corp.Insurance25,4864,45017.510.3-9.7-0.4
128eBaySoftware and Services27,2634,34015.92.3-2.9-0.7
129AlphabetSoftware and Services518,9173,8780.713.4-12.4-0.7
130The Dow Chemical Co.Materials56,8164,1097.24.3-4.8-0.8
131The Walt Disney Co.Media162,03113,7598.513.0-12.3-1.0
132Intel Corp.Semiconductors and Semiconductor Equipment152,82114,8519.714.3-13.4-1.0
133United Parcel ServiceTransportation93,2045,3675.82.7-3.6-1.0
134JPMorgan Chase & Co.Banks216,92311,6865.43.2-4.4-1.3
135Target Corp.Retailing49,3674,3458.816.4-15.7-1.9
136Torchmark Corp.Insurance6,5676329.62.8-5.2-2.6
137The Priceline GroupRetailing63,9544,0026.3-1.5-1.4-2.9
138JB Hunt Transport ServicesTransportation9,5005365.62.4-5.4-3.1
139PfizerPharmaceuticals, Biotechnology and Life Sciences183,52713,6407.41.3-4.4-3.2
141Celgene Corp.Pharmaceuticals, Biotechnology and Life Sciences78,2376,0847.814.0-15.8-4.0
142BlackRockDiversified Financials56,3972,6624.74.4-8.2-4.2
143The PNC Financial Services GroupBanks42,3783,8389.14.5-8.5-4.4
144U.S. BancorpBanks70,4614,5256.40.8-5.4-4.6
145Wells Fargo & Co.Banks244,56819,1157.85.4-9.6-4.7
146Time WarnerMedia57,3267,63013.36.7-10.8-4.8
147S&P GlobalDiversified Financials26,2771,3985.38.6-12.4-4.9
148AutodeskSoftware and Services13,0908296.30.3-5.3-5.0
149AmerisourceBergen Corp.Healthcare Equipment and Services19,7472,79814.215.9-18.0-5.0
150Sealed Air Corp.Materials9,4091,03811.017.3-19.1-5.0
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
current S&P 500 that were public for the full period.

Market Capitalization as of: 3/31/2016.

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