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Second-Quarter 2013 Corporate Buyback Scorecard: 1-50

Second-Quarter 2013 Corporate Buyback Scorecard: 1-50

Buyback
Scorecard

The table below ranks the 268 companies in the S&P 500 that bought back at least 4 percent or $1 billion of their shares from June 30, 2011 through June 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
Company Industry Market
Capitalization
$ Total
Buyback
$ Total
Buyback
/ Market Cap
Buyback
Strategy
Buyback
Effectiveness
Buyback ROI
Average$38,681$2,9129.3%13.5%10.4%25.0%
Median$15,858$1,3508.1%13.5%9.7%24.1%
1Constellation BrandsFood, Beverage and Tobacco$9,809$7978.1%52.3%30.9%99.4%
2Gilead SciencesPharmaceuticals, Biotechnology and Life Sciences$78,205$1,8602.4%60.0%13.3%81.3%
3Tesoro Corp.Energy$7,210$3605.0%52.9%16.7%78.5%
4Western Digital Corp.Technology Hardware and Equipment$14,677$1,4469.9%26.5%37.9%74.5%
5Tenet HealthcareHealthcare Equipment and Services$4,771$62013.0%31.1%31.9%72.9%
6H&R BlockConsumer Services$7,567$5216.9%37.2%24.3%70.5%
7Seagate TechnologyTechnology Hardware and Equipment$16,074$4,08025.4%63.8%1.1%65.6%
8GameStop Corp.Retailing$4,944$52310.6%19.5%36.3%62.9%
9Celgene Corp.Pharmaceuticals, Biotechnology and Life Sciences$48,795$5,45411.2%43.2%13.7%62.8%
10Biogen IdecPharmaceuticals, Biotechnology and Life Sciences$51,083$1,1372.2%51.6%6.0%60.7%
11The Sherwin-Williams Co.Materials$18,219$1,0255.6%48.8%7.8%60.4%
12General Motors Co.Automobiles and Components$45,791$5,10111.1%1.5%55.6%58.0%
13The GapRetailing$19,517$1,8209.3%41.0%11.9%57.7%
14Yahoo!Software and Services$27,207$4,60516.9%24.6%26.5%57.7%
15Life Technologies Corp.Pharmaceuticals, Biotechnology and Life Sciences$12,750$9147.2%16.9%34.3%57.0%
16The Home DepotRetailing$113,168$9,5498.4%47.2%5.8%55.8%
17Gannett Co.Media$5,599$2494.4%27.3%21.1%54.2%
18Twenty-First Century FoxMedia$75,649$6,4238.5%37.1%11.7%53.0%
19Time WarnerMedia$53,898$4,9079.1%31.8%15.6%52.4%
20ExpediaRetailing$8,129$7118.8%57.4%-3.4%52.1%
21NYSE EuronextDiversified Financials$10,060$5525.5%8.2%40.3%51.8%
22Lincoln National Corp.Insurance$9,791$9439.6%10.2%37.7%51.7%
23State Street Corp.Diversified Financials$29,740$3,05210.3%19.7%26.7%51.6%
24Discovery CommunicationsMedia$27,172$2,0677.6%36.2%11.2%51.5%
25Moody's Corp.Diversified Financials$13,581$7535.5%28.8%16.6%50.2%
26BlackRockDiversified Financials$43,948$2,5915.9%21.4%23.6%50.0%
27VisaSoftware and Services$118,742$5,2524.4%51.2%-1.2%49.5%
28CBS Corp.Media$31,051$2,6908.7%37.2%8.9%49.4%
29AmgenPharmaceuticals, Biotechnology and Life Sciences$73,993$13,00917.6%36.7%9.0%49.0%
30Avery Dennison Corp.Materials$4,258$3849.0%6.1%39.6%48.1%
31Valero Energy Corp.Energy$18,962$1,1115.9%27.6%15.4%47.2%
32Ameriprise FinancialDiversified Financials$16,300$2,88817.7%16.6%26.0%46.9%
33The Allstate Corp.Insurance$22,551$2,2199.8%27.8%14.9%46.8%
34Thermo Fisher ScientificPharmaceuticals, Biotechnology and Life Sciences$30,478$1,8156.0%17.7%24.5%46.5%
35PentairCapital Goods$11,786$7,67.6.7%26.4%15.2%45.6%
36The Walt Disney Co.Media$113,729$2,1629.7%39.3%-1.4%37.4%
37Flowserve Corp.Capital Goods$7,723$1,20215.6%18.0%23.2%45.3%
38Discover Financial ServicesDiversified Financials$23,364$2,32510.0%39.4%3.8%44.7%
39SLM Corp.Diversified Financials$10,155$1,07310.6%20.3%19.7%44.0%
40Southwest Airlines Co.Transportation$9,310$99110.6%8.5%32.6%43.8%
41Wyndham Worldwide Corp.Consumer Services$7,776$1,46718.9%38.6%3.3%43.1%
42Lowe's Cos.Retailing$43,862$6,92415.8%29.8%10.1%42.9%
43American International GroupInsurance$65,993$13,07019.8%18.6%20.2%42.5%
44CareFusion Corp.Healthcare Equipment and Services$8,100$4505.6%11.6%27.3%42.2%
45SanDisk Corp.Technology Hardware and Equipment$14,867$6044.1%11.9%26.6%41.7%
46Comcast Corp.Media$108,917$5,0914.7%31.7%7.5%41.5%
47Bristol-Myers Squibb Co.Pharmaceuticals, Biotechnology and Life Sciences$73,406$2,6243.6%29.4%8.9%40.9%
48Ingersoll-RandCapital Goods$16,594$2,41914.6%9.8%28.3%40.8%
49KeyCorp.Banks$10,162$4284.2%12.7%24.4%40.2%
50ConAgra FoodsFood, Beverage and Tobacco$14,559$5974.1%22.8%13.9%39.8%
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2011 to June 2013. Includes the 487 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/30/2013. 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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