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Second-Quarter 2015 Corporate Buyback Scorecard; Best & Worst Companies

The table below ranks the 284 companies in the S&P 500 that bought back at least 4 percent of their shares from June 30, 2013, through June 30, 2015. The Best and Worst Corporate Stock Buyback Programs.

Buyback
Scorecard


The table below ranks the 284 companies in the S&P 500 that bought back at least 4 percent of their shares from June 30, 2013, through June 30, 2015. 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.


The Best and Worst Corporate
Stock Buyback Programs
Best
Company Industry Market
Cap ($ Millions)
Total
Buyback (S Millions)
$ Total
Buyback as %
Market Cap
Buyback
Strategy
Buyback
Effectiveness
Buyback ROI
1 Darden RestaurantsConsumer Services8,941 5035.618.137.862.7
2 HumanaHealthcare Equipment and Services28,650 1,559 5.455.04.962.6
3 AmerisourceBergen Corp.Healthcare Equipment and Services23,361 1,637 7.046.09.159.4
4 Southwest Airlines Co.Transportation22,114 1,824 8.270.8-8.157.0
5 The Kroger Co.Food and Staples Retailing35,219 2,284 6.548.25.456.2
6 AnthemHealthcare Equipment and Services43,421 4,964 11.448.64.655.5
7 Edwards Lifesciences Corp.Healthcare Equipment and Services15,319 7314.838.112.355.1
8 Tesoro Corp.Energy10,621 4684.426.820.252.4
9 Cigna Corp.Healthcare Equipment and Services41,693 2,8746.943.25.050.3
10 Red HatSoftware and Services13,931 595 4.325.619.049.5
Worst
Company Industry Market
Cap ($ Millions)
Total
Buyback (S Millions)
$ Total
Buyback as %
Market Cap
Buyback
Strategy
Buyback
Effectiveness
Buyback ROI
1 Michael Kors Holdings Ltd.Consumer Durables and Apparel8,372 84910.1-1.9-42.9 -44.0
2 National Oilwell VarcoEnergy18,726 2,556 13.6-6.7-26.4-31.3
3 Fossil GroupConsumer Durables and Apparel3,385 1,007 29.7-12.3-16.9-27.2
4 Apache Corp.Energy21,732 2,612 12.0-9.9-18.1-26.2
5 MattelConsumer Durables and Apparel8,692 5196.0-20.0-4.2-23.3
6 FMC TechnologiesEnergy9,5814074.2-13.1-11.6-23.2
7 Joy GlobalCapital Goods3,528 53315.1-13.3-6.7-19.1
8 Murphy Oil Corp.Energy7,398 87511.8-6.1-13.6-18.9
9 Fluor Corp.Capital Goods7,815 1,189 15.2-1.4-15.8 -17.0
10 CoachConsumer Durables and Apparel9,562 5255.5-15.0-2.1-16.8
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2013 to June 2015. Includes the 488 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/30/2015. Companies included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 billion.


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