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Buyback Scorecard CFOs Share Their Stock Buyback Secrets Best and Worst Programs Industry Comparisons |
The table below ranks the 270 companies in the S&P 500 that bought back at least 4 percent of their shares from March 31, 2012, through March 31, 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.
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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—270 | ||||||||
| Company | Industry | Market Capitalization | $ Total Buyback | $ Total Buyback / Market Cap | Buyback Strategy | Buyback Effectiveness | Buyback ROI | |
| Average | $46,040 | $3,349 | 8.6% | 22.3% | 4.3% | 27.5% | ||
| Median | $21,057 | $1,530 | 7.2% | 22.4% | 3.4% | 27.4% | ||
| 151 | The Sherwin-Williams Co. | Materials | 19,736 | 1,403 | 7.1 | 40.2 | -10.9 | 24.9 |
| 152 | UnitedHealth Group | Healthcare Equipment and Services | 81,104 | 6,174 | 7.6 | 19.9 | 4.1 | 24.8 |
| 153 | QUALCOMM | Technology Hardware and Equipment | 133,359 | 7,828 | 5.9 | 12.5 | 10.8 | 24.7 |
| 154 | Dun & Bradstreet Corp. | Commercial and Professional Services | 3,677 | 1,026 | 27.9 | 25.6 | 7.9 | 24.7 |
| 155 | KLA-Tencor Corp. | Semiconductors and Semiconductor Equipment | 11,507 | 521 | 4.5 | 17.0 | 6.6 | 24.7 |
| 156 | Microsoft Corp. | Software and Services | 340,247 | 12,536 | 3.7 | 14.1 | 9.3 | 24.6 |
| 157 | The Allstate Corp. | Insurance | 25,297 | 3,553 | 14.0 | 35.0 | -7.8 | 24.5 |
| 158 | CA Technologies | Software and Services | 13,872 | 1,000 | 7.2 | 17.1 | 5.6 | 23.7 |
| 159 | CareFusion Corp. | Healthcare Equipment and Services | 8,381 | 857 | 10.2 | 27.3 | -3.5 | 22.9 |
| 160 | U.S. Bancorp | Banks | 78,008 | 4,113 | 5.3 | 21.1 | 1.5 | 22.9 |
| 161 | Franklin Resources | Diversified Financials | 34,179 | 1,188 | 3.5 | 21.7 | 1.0 | 22.9 |
| 162 | Mondelez International | Food, Beverage and Tobacco | 58,769 | 1,261 | 2.1 | 19.8 | 2.4 | 22.7 |
| 163 | F5 Networks | Technology Hardware and Equipment | 7,219 | 650 | 9.0 | -7.4 | 32.3 | 22.5 |
| 164 | Kimberly-Clark Corp. | Household and Personal Products | 41,750 | 2,503 | 6.0 | 26.4 | -3.1 | 22.5 |
| 165 | The Home Depot | Retailing | 109,306 | 12,649 | 11.6 | 33.7 | -8.5 | 22.3 |
| 166 | Emerson Electric Co. | Capital Goods | 46,959 | 2,174 | 4.6 | 17.2 | 4.3 | 22.3 |
| 167 | Pfizer | Pharmaceuticals, Biotechnology and Life Sciences | 205,020 | 17,399 | 8.5 | 24.9 | -2.5 | 21.8 |
| 168 | Caterpillar | Capital Goods | 63,380 | 3,738 | 5.9 | -4.7 | 27.7 | 21.8 |
| 169 | Tenet Healthcare Corp. | Healthcare Equipment and Services | 4,177 | 500 | 12.0 | 42.6 | -14.9 | 21.3 |
| 170 | Varian Medical Systems | Healthcare Equipment and Services | 8,697 | 916 | 10.5 | 10.0 | 10.2 | 21.2 |
| 171 | Ball Corp. | Materials | 7,708 | 971 | 12.6 | 17.1 | 3.3 | 21.0 |
| 172 | United Parcel Service | Transportation | 89,526 | 5,582 | 6.2 | 16.0 | 4.3 | 20.9 |
| 173 | Accenture | Software and Services | 50,468 | 5,354 | 10.6 | 21.1 | -0.3 | 20.8 |
| 174 | Discovery Communications | Media | 28,399 | 2,209 | 7.8 | 34.9 | -10.5 | 20.8 |
| 175 | Motorola Solutions | Technology Hardware and Equipment | 16,335 | 2,824 | 17.3 | 18.2 | 1.8 | 20.2 |
| 176 | Oracle Corp. | Software and Services | 182,413 | 21,261 | 11.7 | 16.4 | 3.2 | 20.1 |
| 177 | Abbott Laboratories | Healthcare Equipment and Services | 59,424 | 5,174 | 8.7 | 23.2 | -3.4 | 19.1 |
| 178 | Waters Corp. | Pharmaceuticals, Biotechnology and Life Sciences | 9,234 | 622 | 6.7 | 11.9 | 6.4 | 19.0 |
| 179 | Capital One Financial Corp. | Diversified Financials | 44,194 | 1,703 | 2.4 | 23.0 | -3.5 | 18.8 |
| 180 | General Electric Co. | Capital Goods | 259,547 | 16,895 | 6.5 | 19.8 | -1.0 | 18.5 |
| 181 | Allergan | Pharmaceuticals, Biotechnology and Life Sciences | 37,119 | 1,741 | 4.7 | 16.8 | 1.4 | 18.5 |
| 182 | Monster Beverage Corp. | Food, Beverage and Tobacco | 11,590 | 795 | 6.9 | 13.1 | 4.7 | 18.4 |
| 4 | Tesoro Corp. | Energy | 6,627 | 561 | 8.5 | 41.5 | -16.5 | 18.2 |
| 184 | ConocoPhillips | Energy | 86,256 | 3,199 | 3.7 | 13.7 | 3.6 | 17.7 |
| 185 | Reynolds American | Food, Beverage and Tobacco | 28,659 | 1,599 | 5.6 | 17.1 | 0.2 | 17.3 |
| 186 | Monsanto Co. | Materials | 59,719 | 1,992 | 3.3 | 20.3 | -2.6 | 17.3 |
| 187 | Praxair | Materials | 38,432 | 1,324 | 3.4 | 11.1 | 5.4 | 17.1 |
| 188 | International Paper Co. | Materials | 20,132 | 900 | 4.5 | 23.4 | -5.2 | 16.9 |
| 189 | Schlumberger Limited | Energy | 127,378 | 3,145 | 2.5 | 11.8 | 4.5 | 16.8 |
| 190 | AFLAC | Insurance | 28,670 | 1,342 | 4.7 | 19.6 | -2.5 | 16.7 |
| 191 | Joy Global | Capital Goods | 5,808 | 336 | 5.8 | -17.7 | 41.7 | 16.6 |
| 192 | People's United Financial | Banks | 4,445 | 628 | 14.1 | 11.7 | 4.3 | 16.5 |
| 193 | Dr Pepper Snapple Group | Food, Beverage and Tobacco | 10,812 | 865 | 8.0 | 18.1 | -1.7 | 16.2 |
| 194 | Fossil Group | Consumer Durables and Apparel | 6,296 | 905 | 14.4 | 3.0 | 12.5 | 15.9 |
| 195 | Airgas | Materials | 7,878 | 600 | 7.6 | 16.6 | 6-0.9 | 15.6 |
| 196 | The Gap | Retailing | 17,907 | 2,217 | 12.4 | 37.3 | -15.9 | 15.5 |
| 197 | Colgate-Palmolive Co. | Household and Personal Products | 59,464 | 3,454 | 5.8 | 19.5 | -3.5 | 15.3 |
| 198 | MeadWestvaco Corp. | Materials | 6,295 | 431 | 6.8 | 20.4 | -4.3 | 15.2 |
| 199 | Murphy Oil Corp. | Energy | 11,279 | 1,000 | 8.9 | 12.5 | 2.3 | 15.0 |
| 200 | Patterson Cos. | Healthcare Equipment and Services | 4,340 | 290 | 6.7 | 15.4 | -1.0 | 14.3 |
| Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from March 2012 to March 2014. Includes the 490 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 03/31/2014. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion. | ||||||||