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Buyback 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.
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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 Capitalization | $ Total Buyback | $ Total Buyback / Market Cap | Buyback Strategy | Buyback Effectiveness | Buyback ROI | |
| Average | $41,922 | $3,016 | 8.7% | 23.1% | 4.4% | 28.5% | ||
| Median | $17,310 | $1,400 | 7.8% | 22.0% | 3.5% | 28.4% | ||
| 151 | Macy's | Retailing | 16,280 | 2,514 | 15.4 | 33.9 | -6.7 | 24.9 |
| 152 | Rockwell Collins | Capital Goods | 9,162 | 1,303 | 14.2 | 18.3 | 5.4 | 24.6 |
| 153 | Franklin Resources | Diversified Financials | 32,109 | 1,288 | 4.0 | 13.9 | 9.3 | 24.5 |
| 154 | Pall Corp. | Capital Goods | 8,616 | 531 | 6.2 | 23.3 | 0.9 | 24.4 |
| 155 | Expedia | Retailing | 7,046 | 552 | 7.8 | 40.8 | -11.8 | 24.2 |
| 156 | eBay | Software and Services | 72,228 | 2,236 | 3.1 | 30.6 | -5.1 | 23.9 |
| 157 | DIRECTV | Media | 31,819 | 9,533 | 29.0 | 15.5 | 7.2 | 23.8 |
| 158 | Cintas Corp. | Commercial and Professional Services | 6,184 | 452 | 7.3 | 27.4 | -3.0 | 23.6 |
| 159 | Emerson Electric Co. | Capital Goods | 46,230 | 1,907 | 4.1 | 16.4 | 6.1 | 23.5 |
| 160 | Fossil Group | Consumer Durables and Apparel | 6,564 | 798 | 12.2 | 4.1 | 18.1 | 23.0 |
| 161 | Safeway | Food and Staples Retailing | 7,719 | 2,099 | 27.2 | 21.7 | 0.9 | 22.8 |
| 162 | International Game Technology | Consumer Services | 4,937 | 666 | 13.5 | 11.0 | 10.5 | 22.7 |
| 163 | Republic Services | Commercial and Professional Services | 12,077 | 571 | 4.7 | 12.0 | 9.5 | 22.7 |
| 164 | AutoNation | Retailing | 6,330 | 839 | 13.3 | 13.8 | 7.4 | 22.3 |
| 165 | Patterson Cos. | Healthcare Equipment and Services | 4,231 | 345 | 8.2 | 18.7 | 2.5 | 21.7 |
| 166 | Baxter International | Healthcare Equipment and Services | 35,656 | 2,513 | 7.0 | 15.8 | 5.0 | 21.6 |
| 167 | Humana | Healthcare Equipment and Services | 14,603 | 844 | 5.8 | 11.3 | 9.2 | 21.5 |
| 168 | Reynolds American | Food, Beverage and Tobacco | 26,538 | 1,858 | 7.0 | 23.1 | -1.3 | 21.5 |
| 169 | Covidien | Healthcare Equipment and Services | 28,032 | 2,289 | 8.2 | 18.3 | 2.6 | 21.3 |
| 170 | CA Technologies | Software and Services | 13,519 | 1,393 | 10.3 | 23.6 | -2.1 | 21.0 |
| 171 | KLA-Tencor Corp. | Semiconductors and Semiconductor Equipment | 10,145 | 531 | 5.2 | 27.4 | -5.1 | 20.9 |
| 172 | Pepsico | Food, Beverage and Tobacco | 122,606 | 5,820 | 4.7 | 16.7 | 3.6 | 20.9 |
| 173 | Kimberly-Clark Corp. | Household and Personal Products | 36,090 | 2,243 | 6.2 | 24.4 | -2.9 | 20.9 |
| 174 | The Western Union Co. | Software and Services | 10,299 | 1,107 | 10.7 | 4.4 | 15.4 | 20.5 |
| 175 | Ross Stores | Retailing | 15,775 | 1,038 | 6.6 | 35.2 | -11.0 | 20.3 |
| 176 | U.S. Bancorp | Banks | 67,280 | 3,766 | 5.6 | 27.7 | -5.8 | 20.3 |
| 177 | PetSmart | Retailing | 7,924 | 792 | 10.0 | 31.0 | -8.3 | 20.1 |
| 178 | Waters Corp. | Pharmaceuticals, Biotechnology and Life Sciences | 9,051 | 595 | 6.6 | 11.1 | 7.9 | 20.0 |
| 179 | ConocoPhillips | Energy | 85,011 | 8,250 | 9.7 | 17.7 | 1.8 | 19.9 |
| 180 | The Procter & Gamble Co. | Household and Personal Products | 206,992 | 11,251 | 5.4 | 16.4 | 2.9 | 19.8 |
| 181 | Airgas | Materials | 7,795 | 600 | 7.7 | 27.6 | -6.2 | 19.7 |
| 182 | Apple | Technology Hardware and Equipment | 433,126 | 22,860 | 5.3 | 11.9 | 6.9 | 19.5 |
| 183 | Abbott Laboratories | Healthcare Equipment and Services | 51,581 | 3,933 | 7.6 | 24.4 | -3.9 | 19.5 |
| 184 | Dollar Tree | Retailing | 12,747 | 1,752 | 13.7 | 24.5 | -4.2 | 19.3 |
| 185 | Merck & Co. | Pharmaceuticals, Biotechnology and Life Sciences | 139,322 | 9,473 | 6.8 | 25.2 | -4.8 | 19.2 |
| 186 | CR Bard | Healthcare Equipment and Services | 9,118 | 1,145 | 12.6 | 10.1 | 8.1 | 19.0 |
| 187 | Kimco Realty Corp. | Real Estate | 8,267 | 720 | 8.7 | 15.3 | 2.7 | 18.4 |
| 188 | Staples | Retailing | 9,676 | 788 | 8.1 | 7.2 | 10.4 | 18.3 |
| 189 | Colgate-Palmolive Co. | Household and Personal Products | 55,011 | 3,478 | 6.3 | 19.0 | -0.8 | 18.1 |
| 190 | The Chubb Corp. | Insurance | 22,807 | 2,301 | 10.1 | 22.0 | -3.2 | 18.1 |
| 191 | Jabil Circuit | Technology Hardware and Equipment | 4,394 | 252 | 5.7 | 16.1 | 1.6 | 18.0 |
| 192 | Bed Bath & Beyond | Retailing | 16,544 | 2,269 | 13.7 | 14.7 | 2.7 | 17.9 |
| 193 | The Clorox Co. | Household and Personal Products | 10,659 | 474 | 4.4 | 14.6 | 2.7 | 17.7 |
| 194 | Altria Group | Food, Beverage and Tobacco | 68,808 | 1,656 | 2.4 | 22.0 | -4.2 | 16.9 |
| 195 | United Parcel Service | Transportation | 85,730 | 4,979 | 5.8 | 17.7 | -0.8 | 16.7 |
| 196 | Accenture | Software and Services | 46,835 | 4,643 | 9.9 | 18.1 | -1.2 | 16.6 |
| 197 | VeriSign | Software and Services | 7,307 | 1,137 | 15.6 | 24.9 | -6.6 | 16.6 |
| 198 | Valero Energy Corp. | Energy | 18,514 | 870 | 4.7 | 34.3 | -13.2 | 16.6 |
| 199 | Dollar General Corp. | Retailing | 18,271 | 1,263 | 6.9 | 27.1 | -8.4 | 16.5 |
| 200 | General Electric Co. | Capital Goods | 243,291 | 13,322 | 5.5 | 19.6 | -2.7 | 16.4 |
| 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. | ||||||||