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 |
$2,912 |
9.3% |
13.5% |
10.4% |
25.0% |
|
Median |
|
$15,858 |
$1,350 |
8.1% |
13.5% |
9.7% |
24.1% |
1 |
Constellation Brands |
Food, Beverage and Tobacco |
$9,809 |
$797 |
8.1% |
52.3% |
30.9% |
99.4% |
2 |
Gilead Sciences |
Pharmaceuticals, Biotechnology and Life Sciences |
$78,205 |
$1,860 |
2.4% |
60.0% |
13.3% |
81.3% |
3 |
Tesoro Corp. |
Energy |
$7,210 |
$360 |
5.0% |
52.9% |
16.7% |
78.5% |
4 |
Western Digital Corp. |
Technology Hardware and Equipment |
$14,677 |
$1,446 |
9.9% |
26.5% |
37.9% |
74.5% |
5 |
Tenet Healthcare |
Healthcare Equipment and Services |
$4,771 |
$620 |
13.0% |
31.1% |
31.9% |
72.9% |
6 |
H&R Block |
Consumer Services |
$7,567 |
$521 |
6.9% |
37.2% |
24.3% |
70.5% |
7 |
Seagate Technology |
Technology Hardware and Equipment |
$16,074 |
$4,080 |
25.4% |
63.8% |
1.1% |
65.6% |
8 |
GameStop Corp. |
Retailing |
$4,944 |
$523 |
10.6% |
19.5% |
36.3% |
62.9% |
9 |
Celgene Corp. |
Pharmaceuticals, Biotechnology and Life Sciences |
$48,795 |
$5,454 |
11.2% |
43.2% |
13.7% |
62.8% |
10 |
Biogen Idec |
Pharmaceuticals, Biotechnology and Life Sciences |
$51,083 |
$1,137 |
2.2% |
51.6% |
6.0% |
60.7% |
11 |
The Sherwin-Williams Co. |
Materials |
$18,219 |
$1,025 |
5.6% |
48.8% |
7.8% |
60.4% |
12 |
General Motors Co. |
Automobiles and Components |
$45,791 |
$5,101 |
11.1% |
1.5% |
55.6% |
58.0% |
13 |
The Gap |
Retailing |
$19,517 |
$1,820 |
9.3% |
41.0% |
11.9% |
57.7% |
14 |
Yahoo! |
Software and Services |
$27,207 |
$4,605 |
16.9% |
24.6% |
26.5% |
57.7% |
15 |
Life Technologies Corp. |
Pharmaceuticals, Biotechnology and Life Sciences |
$12,750 |
$914 |
7.2% |
16.9% |
34.3% |
57.0% |
16 |
The Home Depot |
Retailing |
$113,168 |
$9,549 |
8.4% |
47.2% |
5.8% |
55.8% |
17 |
Gannett Co. |
Media |
$5,599 |
$249 |
4.4% |
27.3% |
21.1% |
54.2% |
18 |
Twenty-First Century Fox |
Media |
$75,649 |
$6,423 |
8.5% |
37.1% |
11.7% |
53.0% |
19 |
Time Warner |
Media |
$53,898 |
$4,907 |
9.1% |
31.8% |
15.6% |
52.4% |
20 |
Expedia |
Retailing |
$8,129 |
$711 |
8.8% |
57.4% |
-3.4% |
52.1% |
21 |
NYSE Euronext |
Diversified Financials |
$10,060 |
$552 |
5.5% |
8.2% |
40.3% |
51.8% |
22 |
Lincoln National Corp. |
Insurance |
$9,791 |
$943 |
9.6% |
10.2% |
37.7% |
51.7% |
23 |
State Street Corp. |
Diversified Financials |
$29,740 |
$3,052 |
10.3% |
19.7% |
26.7% |
51.6% |
24 |
Discovery Communications |
Media |
$27,172 |
$2,067 |
7.6% |
36.2% |
11.2% |
51.5% |
25 |
Moody's Corp. |
Diversified Financials |
$13,581 |
$753 |
5.5% |
28.8% |
16.6% |
50.2% |
26 |
BlackRock |
Diversified Financials |
$43,948 |
$2,591 |
5.9% |
21.4% |
23.6% |
50.0% |
27 |
Visa |
Software and Services |
$118,742 |
$5,252 |
4.4% |
51.2% |
-1.2% |
49.5% |
28 |
CBS Corp. |
Media |
$31,051 |
$2,690 |
8.7% |
37.2% |
8.9% |
49.4% |
29 |
Amgen |
Pharmaceuticals, Biotechnology and Life Sciences |
$73,993 |
$13,009 |
17.6% |
36.7% |
9.0% |
49.0% |
30 |
Avery Dennison Corp. |
Materials |
$4,258 |
$384 |
9.0% |
6.1% |
39.6% |
48.1% |
31 |
Valero Energy Corp. |
Energy |
$18,962 |
$1,111 |
5.9% |
27.6% |
15.4% |
47.2% |
32 |
Ameriprise Financial |
Diversified Financials |
$16,300 |
$2,888 |
17.7% |
16.6% |
26.0% |
46.9% |
33 |
The Allstate Corp. |
Insurance |
$22,551 |
$2,219 |
9.8% |
27.8% |
14.9% |
46.8% |
34 |
Thermo Fisher Scientific |
Pharmaceuticals, Biotechnology and Life Sciences |
$30,478 |
$1,815 |
6.0% |
17.7% |
24.5% |
46.5% |
35 |
Pentair |
Capital Goods |
$11,786 |
$7,67. |
6.7% |
26.4% |
15.2% |
45.6% |
36 |
The Walt Disney Co. |
Media |
$113,729 |
$2,162 |
9.7% |
39.3% |
-1.4% |
37.4% |
37 |
Flowserve Corp. |
Capital Goods |
$7,723 |
$1,202 |
15.6% |
18.0% |
23.2% |
45.3% |
38 |
Discover Financial Services |
Diversified Financials |
$23,364 |
$2,325 |
10.0% |
39.4% |
3.8% |
44.7% |
39 |
SLM Corp. |
Diversified Financials |
$10,155 |
$1,073 |
10.6% |
20.3% |
19.7% |
44.0% |
40 |
Southwest Airlines Co. |
Transportation |
$9,310 |
$991 |
10.6% |
8.5% |
32.6% |
43.8% |
41 |
Wyndham Worldwide Corp. |
Consumer Services |
$7,776 |
$1,467 |
18.9% |
38.6% |
3.3% |
43.1% |
42 |
Lowe's Cos. |
Retailing |
$43,862 |
$6,924 |
15.8% |
29.8% |
10.1% |
42.9% |
43 |
American International Group |
Insurance |
$65,993 |
$13,070 |
19.8% |
18.6% |
20.2% |
42.5% |
44 |
CareFusion Corp. |
Healthcare Equipment and Services |
$8,100 |
$450 |
5.6% |
11.6% |
27.3% |
42.2% |
45 |
SanDisk Corp. |
Technology Hardware and Equipment |
$14,867 |
$604 |
4.1% |
11.9% |
26.6% |
41.7% |
46 |
Comcast Corp. |
Media |
$108,917 |
$5,091 |
4.7% |
31.7% |
7.5% |
41.5% |
47 |
Bristol-Myers Squibb Co. |
Pharmaceuticals, Biotechnology and Life Sciences |
$73,406 |
$2,624 |
3.6% |
29.4% |
8.9% |
40.9% |
48 |
Ingersoll-Rand |
Capital Goods |
$16,594 |
$2,419 |
14.6% |
9.8% |
28.3% |
40.8% |
49 |
KeyCorp. |
Banks |
$10,162 |
$428 |
4.2% |
12.7% |
24.4% |
40.2% |
50 |
ConAgra Foods |
Food, Beverage and Tobacco |
$14,559 |
$597 |
4.1% |
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. |
||||||||