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Third-Quarter 2013 Corporate Buyback Scorecard; 51–100

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%
51Flowserve Corp.Capital Goods8,7731,25114.338.42.642.1
52Fidelity National Information ServicesSoftware and Services13,5659246.830.18.841.6
53MasterCardSoftware and Services81,1543,4704.340.11.041.6
54The Home DepotRetailing108,65110,84410.054.6-8.641.3
55AmerisourceBergen Corp.Healthcare Equipment and Services14,1149987.124.013.741.0
56FLIR SystemsTechnology Hardware and Equipment4,4613848.69.328.941.0
57Raytheon Co.Capital Goods24,8541,4685.936.23.240.6
58BlackRockDiversified Financials46,0832,7315.931.86.640.5
59The Goldman Sachs GroupDiversified Financials74,12110,32313.918.818.140.3
60Unum GroupInsurance8,0247699.617.119.740.2
61Avery Dennison Corp.Materials4,26945910.825.811.340.1
62Southwest Airlines Co.Transportation10,2829669.422.614.240.1
63Dun & Bradstreet Corp.Commercial and Professional Services4,02993023.
64Tesoro Corp.Energy6,0614277.050.3-6.939.9
65VisaSoftware and Services123,3066,1395.047.0-5.139.5
66Torchmark Corp.Insurance6,62691313.837.80.838.9
67AetnaHealthcare Equipment and Services23,8222,97112.528.87.738.6
68The Allstate Corp.Insurance23,4272,39310.241.7-2.238.6
69Time Warner CableMedia31,8934,07212.831.65.338.6
70NetAppTechnology Hardware and Equipment14,4951,59011.0-0.639.038.1
71Adobe SystemsSoftware and Services26,0871,1054.234.42.637.8
72Scripps Networks InteractiveMedia11,3949548.432.04.437.8
73Prudential FinancialInsurance36,2611,4414.036.58.937.8
76The Sherwin-Williams Co.Materials18,7071,0885.853.8-10.637.5
77Symantec Corp.Software and Services17,3101,4968.620.214.337.4
78The Walt Disney Co.Media115,2087,1026.237.8-0.437.2
79Comcast Corp.Media117,5724,9914.242.0-3.637.0
80NVIDIA Corp.Semiconductors and Semiconductor Equipment9,00395010.64.530.936.7
81MedtronicHealthcare Equipment and Services53,1156.627.86.936.633.1%
82Fifth Third BancorpBanks16,0261,3148.234.41.536.4
83Harris Corp.Technology Hardware and Equipment6,3065899.322.810.836.0
84O'Reilly AutomotiveRetailing13,8512,26916.438.3-2.235.3
85Johnson & JohnsonPharmaceuticals, Biotechnology and Life Sciences244,29928,15211.521.910.935.2
86Applied MaterialsSemiconductors and Semiconductor Equipment21,1081,6617.910.412.235.1
87Computer Sciences Corp.Software and Services7,6415367.028.74.734.7
88The Hershey Co.Food, Beverage and Tobacco20,6458434.
90McKesson Corp.Healthcare Equipment and Services29,3322,5448.726.55.833.9
91Amphenol Corp.Technology Hardware and Equipment12,3168156.630.42.733.8
92CitigroupDiversified Financials147,5201,2710.924.97.133.8
95JPMorgan Chase & Co.Diversified Financials194,7967,0063.624.96.933.5
96Wells Fargo & Co.Banks194,7968,5503.932.10.933.4
97Union Pacific Corp.Transportation72,0543,2884.632.80.433.3
98FiservSoftware and Services13,1461,1388.731.01.733.2
99Walgreen Co.Food and Staples Retailing50,8411,8063.619.011.933.1
100Rockwell AutomationCapital Goods14,8296624.523.97.332.9
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.