This content is from: Home

First-Quarter 2014 Corporate Buyback Scorecard; 1–50

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.

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
$ Total
$ Total
/ Market Cap
Buyback ROI
 Average $46,040$3,3498.6%22.3%4.3%27.5%
 Median $21,057$1,5307.2%22.4%3.4%27.4%
1Keurig Green MountainFood, Beverage and Tobacco17,0841,1466.732.494.3157.2
2Gilead SciencesPharmaceuticals, Biotechnology and Life Sciences108,9721,6791.581.45.090.4
3Southwest Airlines Co.Transportation16,5741,2057.357.417.084.1
4Yahoo!Software and Services36,2375,89116.357.713.278.6
5Boston Scientific Corp.Healthcare Equipment and Services17,8931,0876.149.217.374.9
6Western Digital Corp.Technology Hardware and Equipment21,6941,9909.253.2


7Tyson FoodsFood, Beverage and Tobacco14,9761,0256.841.522.072.6
8The Dow Chemical Co.Materials58,7691,5572.622.137.167.4
9McKesson Corp.Healthcare Equipment and Services40,6341,3443.346.913.366.4
10Lincoln National Corp.Insurance13,3629427.147.012.966.0
11Lockheed Martin Corp.Capital Goods52,1173,6166.941.116.564.3
12MylanPharmaceuticals, Biotechnology and Life Sciences18,1612,00011.046.911.363.4
13Northrop Grumman Corp.Capital Goods26,7413,99414.944.912.062.3
14Delphi Automotive Automobiles and Components20,7921,0134.949.78.161.9
15Ameriprise FinancialDiversified Financials20,9793,12914.944.911.561.5
16Celgene Corp.Pharmaceuticals, Biotechnology and Life Sciences56,6806,20811.046.59.660.7
17St. Jude MedicalHealthcare Equipment and Services18,5642,00110.828.624.960.6
18Adobe SystemsSoftware and Services32,7211,6255.041.512.859.6
19Seagate Technology Technology Hardware and Equipment18,4634,79426.053.92.457.6
20Valero Energy Corp.Energy28,2871,3294.753.61.255.4
21Flowserve Corp.Capital Goods10,7791,31812.244.36.653.9
22Harris Corp.Technology Hardware and Equipment7,8136628.534.913.853.5
23McGraw Hill FinancialDiversified Financials20,8791,4116.835.612.852.9
24SanDisk Corp.Technology Hardware and Equipment18,3091,87310.
25Gannett Co.Media6,2802734.444.45.752.6
26H&R BlockConsumer Services8,2793464.239.97.850.8
27Hewlett-Packard Co.Technology Hardware and Equipment61,3263,4175.68.538.950.7
28LyondellBasell Industries Materials48,2922,1694.550.9-0.450.3
29Cardinal HealthHealthcare Equipment and Services23,9959894.131.913.449.6
30Legg MasonDiversified Financials5,84179713.630.114.949.5
31Moody's Corp.Diversified Financials16,9731,2917.644.63.048.9
32Assurant Insurance4,66372815.628.515.648.5
33CBS Corp.Media36,6744,79613.147.10.648.0
34Bank of America Corp.Banks181,0864,6622.646.20.847.3
35Ingersoll-RandCapital Goods15,9152,84117.842.82.947.0
36MasterCard Software and Services88,6355,6126.342.03.546.9
37Express Scripts Holding Co.Healthcare Equipment and Services58,2334,6738.020.121.646.0
38TE Connectivity Ltd.Technology Hardware and Equipment24,6871,4045.730.212.246.0
39AmerisourceBergen Corp.Healthcare Equipment and Services15,0339226.135.37.845.9
40Time Warner CableMedia38,0614,26211.238.63.944.1
41Bristol-Myers Squibb Co.Pharmaceuticals, Biotechnology and Life Sciences86,0802,0242.431.79.243.9
42Fidelity National Information ServicesSoftware and Services15,5369296.
43L-3 CommunicationsCapital Goods10,2181,47814.532.67.542.5
44VisaSoftware and Services136,7738,3576.142.9-0.342.5
45The Walt Disney Co.Media140,2878,6876.
46GameStop Corp.Retailing4,76054611.531.57.941.9
47Computer Sciences Corp.Software and Services8,8618049.146.0-3.041.6
48Rockwell AutomationCapital Goods17,2858344.824.413.741.5
49Agilent TechnologiesPharmaceuticals, Biotechnology and Life Sciences18,6451,1446.117.020.941.5
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.