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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% | ||
| 201 | Lorillard | Food, Beverage and Tobacco | 16,744 | 1,343 | 8.0 | 16.1 | 0.2 | 16.3 |
| 202 | ONEOK | Utilities | 10,995 | 601 | 5.5 | 22.9 | -5.4 | 16.2 |
| 203 | Microsoft Corp. | Software and Services | 277,221 | 10,643 | 3.8 | 15.6 | 0.3 | 16.0 |
| 204 | Chevron Corp. | Energy | 234,741 | 8,595 | 3.7 | 14.9 | 0.9 | 16.0 |
| 205 | Target Corp. | Retailing | 40,379 | 3,485 | 8.6 | 19.1 | -2.6 | 16.0 |
| 206 | Hewlett-Packard Co. | Technology Hardware and Equipment | 40,339 | 3,151 | 7.8 | -6.9 | 24.3 | 15.8 |
| 207 | AutoZone | Retailing | 14,497 | 2,750 | 19.0 | 19.2 | -3.0 | 15.6 |
| 208 | Wal-Mart Stores | Food and Staples Retailing | 240,774 | 13,037 | 5.4 | 23.2 | -6.5 | 15.2 |
| 209 | Wisconsin Energy Corp. | Utilities | 9,193 | 400 | 4.3 | 19.9 | -4.0 | 15.1 |
| 210 | Monsanto Co. | Materials | 55,641 | 1,527 | 2.7 | 22.0 | -5.7 | 15.1 |
| 211 | Juniper Networks | Technology Hardware and Equipment | 10,066 | 983 | 9.8 | -6.8 | 23.0 | 14.5 |
| 212 | Motorola Solutions | Technology Hardware and Equipment | 15,786 | 4,136 | 23.2 | 18.6 | -4.1 | 13.8 |
| 213 | Marriott International | Consumer Services | 12,752 | 1,989 | 15.6 | 22.0 | -6.9 | 13.7 |
| 214 | Nordstrom | Retailing | 10,953 | 1,246 | 11.4 | 15.6 | -1.9 | 13.4 |
| 215 | Yum! Brands | Consumer Services | 31,856 | 1,665 | 5.2 | 19.2 | -5.5 | 12.6 |
| 216 | Dr Pepper Snapple Group | Food, Beverage and Tobacco | 9,124 | 760 | 8.3 | 13.3 | -0.9 | 12.4 |
| 217 | Praxair | Materials | 35,443 | 1,260 | 3.6 | 11.5 | 0.3 | 11.8 |
| 218 | Intuit | Software and Services | 18,747 | 2,357 | 12.6 | 18.3 | -5.5 | 11.8 |
| 219 | Varian Medical Systems | Healthcare Equipment and Services | 8,045 | 677 | 8.4 | 10.6 | 0.6 | 11.3 |
| 220 | Schlumberger | Energy | 116,916 | 2,136 | 1.8 | 3.7 | 7.0 | 11.0 |
| 221 | QUALCOMM | Technology Hardware and Equipment | 115,482 | 5,923 | 5.1 | 13.6 | -2.4 | 10.8 |
| 222 | Corning | Technology Hardware and Equipment | 21,307 | 1,941 | 9.1 | 1.9 | 8.4 | 10.5 |
| 223 | Sysco Corp. | Food and Staples Retailing | 18,891 | 1,111 | 5.9 | 12.1 | -1.5 | 10.4 |
| 224 | Laboratory Corp. of America | Healthcare Equipment and Services | 8,933 | 1,457 | 16.3 | 6.5 | 3.5 | 10.2 |
| 225 | EMC Corp. | Technology Hardware and Equipment | 53,187 | 2,750 | 5.2 | 4.9 | 4.8 | 10.0 |
| 226 | Expeditors International of Washington | Transportation | 9,094 | 431 | 4.7 | -3.0 | 13.3 | 9.8 |
| 227 | Ball Corp. | Materials | 6,512 | 940 | 14.4 | 12.9 | -2.8 | 9.8 |
| 228 | Denbury Resources | Energy | 6,851 | 674 | 9.8 | 4.0 | 5.5 | 9.7 |
| 229 | Ralph Lauren Corp. | Consumer Durables and Apparel | 14,905 | 759 | 5.1 | 14.1 | -3.9 | 9.6 |
| 230 | LSI Corp. | Semiconductors and Semiconductor Equipment | 4,281 | 463 | 10.8 | 7.2 | 1.4 | 8.7 |
| 231 | The Coca-Cola Co. | Food, Beverage and Tobacco | 167,928 | 9,356 | 5.6 | 10.4 | -1.6 | 8.7 |
| 232 | Kohl's Corp. | Retailing | 11,239 | 2,210 | 19.7 | 5.6 | 2.3 | 8.1 |
| 233 | Norfolk Southern Corp. | Transportation | 24,130 | 2,292 | 9.5 | 6.9 | 1.0 | 8.0 |
| 234 | Exxon Mobil Corp. | Energy | 378,716 | 39,186 | 10.3 | 11.8 | -4.0 | 7.4 |
| 235 | Monster Beverage Corp. | Food, Beverage and Tobacco | 8,747 | 768 | 8.8 | 19.7 | -10.6 | 7.1 |
| 236 | McDonald's Corp. | Consumer Services | 96,176 | 4,258 | 4.4 | 9.2 | -2.2 | 6.7 |
| 237 | Oracle Corp. | Software and Services | 151,171 | 19,045 | 12.6 | 6.4 | -0.5 | 5.9 |
| 238 | The AES Corp. | Utilities | 9,856 | 418 | 4.2 | 7.6 | -1.7 | 5.8 |
| 239 | Philip Morris International | Food, Beverage and Tobacco | 140,150 | 12,046 | 8.6 | 17.8 | -10.4 | 5.6 |
| 240 | CF Industries | Materials | 12,077 | 1,810 | 15.0 | 9.9 | -4.1 | 5.3 |
| 241 | Darden Restaurants | Consumer Services | 6,044 | 337 | 5.6 | 4.3 | 1.0 | 5.3 |
| 242 | Deere & Co. | Capital Goods | 31,160 | 3,119 | 10.0 | 6.7 | -1.3 | 5.3 |
| 243 | AT&T | Telecommunication Services | 179,618 | 23,886 | 13.3 | 15.1 | -9.0 | 4.7 |
| 244 | Autodesk | Software and Services | 9,181 | 814 | 8.9 | 9.1 | -4.1 | 4.6 |
| 245 | Eli Lilly and Co. | Pharmaceuticals, Biotechnology and Life Sciences | 55,043 | 1,919 | 3.5 | 24.4 | -15.9 | 4.6 |
| 246 | Quest Diagnostics | Healthcare Equipment and Services | 9,385 | 1,244 | 13.3 | 9.2 | -4.2 | 4.6 |
| 247 | Iron Mountain | Commercial and Professional Services | 5,164 | 475 | 9.2 | 0.6 | 3.6 | 4.2 |
| 248 | Red Hat | Software and Services | 8,734 | 396 | 4.5 | 12.1 | -8.9 | 2.1 |
| 249 | Catepillar | Capital Goods | 54,011 | 2,000 | 3.7 | -1.9 | 2.6 | 0.6 |
| 250 | Abercrombie & Fitch Co. | Retailing | 2,702 | 536 | 19.8 | -17.8 | 21.4 | -0.2 |
| 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. | ||||||||