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Third-Quarter 2013 Corporate Buyback Scorecard; 251–263

Scorecard The Most and Least Effective Stock Buyback Programs Best and Worst Programs Industry Comparisons

The table below ranks the 268 companies in the S&P 500 that bought back at least 4 percent of their shares from September 30, 2011, through September 30, 2013. 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—263
Company Industry Market
$ Total
$ Total
/ Market Cap
Buyback ROI
 Average $41,922$3,0168.7%23.1%4.4%28.5%
 Median $17,310$1,4007.8%22.0%3.5%28.4%
251Intel Corp.Semiconductors and Semiconductor Equipment114,19211,1629.87.6-7.4-0.4
252International Business Machines Corp.Software and Services202,85123,63811.76.7-7.6-1.4
253Cameron International Corp.Energy14,3665824.010.1-11.6-2.7
254CH Robinson WorldwideTransportation9,4981,04911.0-7.2-4.5-3.0
255The Mosaic Co.Materials18,3191,1636.3-15.510.7-6.4
256AllerganPharmaceuticals, Biotechnology and Life Sciences26,8511,6466.16.0-12.1-6.8
257CoachConsumer Durables and Apparel15,3231,2167.9-1.1-5.7-6.8
258Teradata Corp.Software and Services9,0424965.54.6-10.9-6.8
259CenturyLinkTelecommunication Services18,8491,2896.84.8-17.6-13.6
260F5 NetworksTechnology Hardware and Equipment6,7193855.7-1.5-13.6-15.0
261Edwards Lifesciences Corp.Healthcare Equipment and Services7,81811.4-3.8-12.4-15.7-7.8%
262Broadcom Corp.Semiconductors and Semiconductor Equipment15,0666284.2-8.3-30.4-36.2
263Intuitive SurgicalHealthcare Equipment and Services14,9421,3489.03.6-39.2-37.0
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from Septmeber 2011 to September 2013. Includes the 489 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 09/30/2013. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.