Buyback
Scorecard
CFOs Share Their Stock Buyback Secrets
Best and Worst Programs
Industry Comparisons
The table below ranks the 274 companies in the S&P 500 that bought back at least 4 percent of their shares from June 30, 2012, through June 30, 2014. 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—274
Company Industry Market
Capitalization $ Total
Buyback $ Total
Buyback
/ Market Cap Buyback
Strategy Buyback
Effectiveness Buyback ROI Average $47,210 $3,341 8.5% 24.7% 0.0% 24.5% Median $21,878 $1,619 7.4% 24.9% 0.1% 24.0% 201 JPMorgan Chase & Co. Banks 218,048 6,550 3.0 24.6 -8.1 14.5 202 Cisco Systems Technology Hardware and Equipment 127,299 12,946 10.2 18.4 -3.5 14.3 203 The Goldman Sachs Group Diversified Financials 74,875 11,918 15.9 26.5 -9.7 14.3 204 Apache Corp. Energy 38,810 2,279 5.9 2.6 11.3 14.2 205 The TJX Cos. Retailing 37,222 3,019 8.1 18.7 -3.9 14.1 206 People's United Financial Banks 4,543 575 12.6 15.6 -1.4 14.0 207 Express Scripts Holding Co. Healthcare Equipment and Services 53,638 6,715 12.5 13.7 0.1 13.7 208 Exxon Mobil Corp. Energy 432,358 33,213 7.7 13.1 0.4 13.6 209 Monster Beverage Corp. Food, Beverage and Tobacco 11,867 795 6.7 -0.6 14.1 13.4 210 Sysco Corp. Food and Staples Retailing 21,892 1,054 4.8 17.1 -3.2 13.4 211 Tesoro Corp. Energy 7,587 641 8.4 56.3 -27.5 13.3 212 Accenture Software and Services 51,030 5,142 10.1 18.2 -4.2 13.2 213 CenturyLink Telecommunication Services 20,733 2,096 10.1 3.4 9.4 13.1 214 The Boeing Co. Capital Goods 92,779 5,799 6.3 37.0 -17.5 13.1 215 Yum! Brands Consumer Services 35,840 1,746 4.9 7.9 4.6 12.8 216 The Home Depot Retailing 110,722 13,400 12.1 27.3 -11.5 12.7 217 Deere & Co. Capital Goods 32,941 3,525 10.7 11.4 1.0 12.6 218 Airgas Materials 8,091 600 7.4 12.5 0.1 12.6 219 Baxter International Healthcare Equipment and Services 39,110 1,883 4.8 20.7 -7.4 11.8 220 The Chubb Corp. Insurance 22,534 2,403 10.7 15.7 -3.5 11.8 221 Waters Corp. Pharmaceuticals, Biotechnology and Life Sciences 8,855 611 6.9 12.4 -0.6 11.7 222 The Procter & Gamble Co. Household and Personal Products 212,661 11,991 5.6 16.1 -4.0 11.4 223 Newell Rubbermaid Consumer Durables and Apparel 8,575 686 8.0 32.1 -15.9 11.2 224 Chevron Corp. Energy 248,522 7,665 3.1 14.1 -3.3 10.4 225 Pfizer Pharmaceuticals, Biotechnology and Life Sciences 189,091 16,059 8.5 19.9 -8.0 10.3 226 McDonald's Corp. Consumer Services 99,573 3,953 4.0 8.0 2.2 10.3 227 Expeditors International of Washington Transportation 8,716 816 9.4 4.6 5.3 10.2 228 The J. M. Smucker Co. Food, Beverage and Tobacco 10,854 879 8.1 16.5 -5.6 10.1 229 Edwards Lifesciences Corp. Healthcare Equipment and Services 9,056 998 11.0 -2.1 12.2 9.9 230 W.W. Grainger Capital Goods 17,400 804 4.6 15.4 -4.8 9.9 231 Bank of America Corp. Banks 161,626 4,895 3.0 40.5 -22.0 9.6 232 EMC Corp. Technology Hardware and Equipment 53,926 4,434 8.2 1.0 8.3 9.3 233 CA Technologies Software and Services 12,835 964 7.5 10.4 -1.1 9.2 234 Kohl's Corp. Retailing 10,921 1,890 17.3 9.4 -0.4 9.0 235 Patterson Cos. Healthcare Equipment and Services 4,106 284 7.1 10.2 -1.5 8.6 236 AFLAC Insurance 28,270 1,443 5.1 25.0 -13.6 8.0 237 The Western Union Co. Software and Services 9,345 1,182 12.6 -0.1 7.4 7.4 238 The Gap Retailing 18,321 2,248 12.3 24.7 -14.1 7.2 239 Laboratory Corp. of America Healthcare Equipment and Services 8,684 1,444 16.6 7.3 -0.4 6.9 240 CarMax Retailing 11,363 697 6.1 24.3 -14.0 6.9 241 The Coca-Cola Co. Food, Beverage and Tobacco 186,180 8,734 4.7 7.0 -0.3 6.7 242 Wal-Mart Stores Food and Staples Retailing 241,996 10,077 4.2 13.2 -5.8 6.7 243 Ross Stores Retailing 13,993 1,126 8.0 6.2 -0.1 6.1 244 International Paper Co. Materials 21,863 1,197 5.5 27.0 -16.9 5.5 245 Symantec Corp. Software and Services 15,840 1,150 7.3 17.5 -10.3 5.5 246 AT&T Telecommunication Services 183,536 22,553 12.3 8.7 -3.1 5.3 247 Dollar General Corp. Retailing 17,398 1,792 10.3 8.7 -3.7 4.6 248 Denbury Resources Energy 6,423 757 11.8 2.6 1.7 4.4 249 VeriSign Software and Services 6,416 1,655 25.8 10.7 -6.5 3.5 250 Jabil Circuit Technology Hardware and Equipment 4,176 246 5.9 -4.1 7.4 3.0 Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2012 to June 2014. Includes the 490 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/01/2014. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.