This content is from: Home

First-Quarter 2016 Corporate Buyback Scorecard; 1–50

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%
1Tyson FoodsFood, Beverage and Tobacco26,0341,3415.227.235.472.2
2NVIDIA Corp.Semiconductors and Semiconductor Equipment19,3111,4017.335.87.045.3
3NasdaqDiversified Financials10,8795845.428.27.137.4
4Darden RestaurantsConsumer Services8,5026437.623.59.735.5
5Global PaymentsSoftware and Services8,4466717.931.42.334.4
6VeriSignSoftware and Services9,6921,55316.
7O'Reilly AutomotiveRetailing26,5532,2938.633.8-1.132.2
8Dr Pepper Snapple GroupFood, Beverage and Tobacco16,7389505.738.1-6.029.8
9Northrop Grumman Corp.Capital Goods35,8095,56215.528.80.529.4
10McDonald's Corp.Consumer Services113,31413,17011.615.611.328.7
11NIKEConsumer Durables and Apparel104,6936,1445.927.80.628.6
12Altria GroupFood, Beverage and Tobacco122,8171,3891.134.7-4.928.1
13Starbucks Corp.Consumer Services88,2433,4894.
14Cigna Corp.Healthcare Equipment and Services35,1011,8075.129.2-2.026.5
15Sysco Corp.Food and Staples Retailing26,3841,7116.513.111.926.5
16Electronic ArtsSoftware and Services20,4481,3556.654.3-18.026.5
17Ross StoresRetailing23,2351,3966.
18The Home DepotRetailing167,18113,9078.327.8-1.426.0
19Alaska Air GroupTransportation10,2309509.335.0-6.925.7
20FiservSoftware and Services22,8692,43710.728.8-2.425.7
21HasbroConsumer Durables and Apparel9,9965015.021.63.425.6
22Avery Dennison Corp.Materials6,4415308.216.85.523.2
23UnitedHealth GroupHealthcare Equipment and Services122,5424,7973.927.4-3.423.1
24Masco Corp.Capital Goods10,4695575.319.92.122.4
26Intuitive SurgicalHealthcare Equipment and Services22,6461,1995.314.75.921.5
27Raytheon Co.Capital Goods36,6661,8925.216.73.520.8
29Microsoft Corp.Software and Services436,83127,9056.421.4-0.920.3
30Henry ScheinHealthcare Equipment and Services14,1466254.416.92.319.6
31AetnaHealthcare Equipment and Services39,2781,0492.724.3-3.919.4
32Kimberly-Clark Corp.Household and Personal Products48,5142,4995.215.62.919.1
33Republic ServicesCommercial and Professional Services16,4287594.620.3-2.117.8
34Waste ManagementCommercial and Professional Services26,2341,4505.518.4-0.617.7
35HumanaHealthcare Equipment and Services27,2631,2964.830.0-9.717.4
36KLA-Tencor Corp.Semiconductors and Semiconductor Equipment11,3348457.517.3-0.117.2
37AccentureSoftware and Services71,9855,0387.
38Lockheed Martin Corp.Capital Goods67,6664,3666.520.7-3.516.5
39Lowe's Cos.Retailing67,9818,17312.022.9-5.316.3
40Southwest Airlines Co.Transportation28,5862,3208.137.4-15.516.0
41Costco Wholesale Corp.Food and Staples Retailing69,1831,0891.618.3-2.015.9
42Adobe SystemsSoftware and Services46,9201,1752.516.3-0.515.7
43Kellogg Co.Food, Beverage and Tobacco26,9641,2984.813.71.715.5
44VisaSoftware and Services183,6638,7794.815.2-0.214.9
45DENTSPLY SIRONAHealthcare Equipment and Services14,9006644.513.51.114.7
46Valero Energy Corp.Energy30,1713,94413.
47Tesoro Corp.Energy10,3127447.231.0-12.814.3
48Intercontinental ExchangeDiversified Financials27,9901,4065.
50The TJX Cos.Retailing51,9143,4606.710.83.014.1
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.