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Fourth-Quarter 2013 Corporate Buyback Scorecard; 1–50

Scorecard A Tale of Two Stock Buybacks Best and Worst Programs Industry Comparisons

The table below ranks the 269 companies in the S&P 500 that bought back at least 4 percent of their shares from December 31, 2011, through December 31, 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—269
Company Industry Market
$ Total
$ Total
/ Market Cap
Buyback ROI
 Average $45,904$3,0978.1%26.7%2.3%29.5%
 Median $19,140$1,4527.0%25.6%1.3%29.3%
1The Boeing Co.Capital Goods102,5661,8011.842.451.3115.6
2Gilead SciencesPharmaceuticals, Biotechnology and Life Sciences115,1551,2491.
3Yahoo!Software and Services41,0245,51213.451.329.896.5
4GameStop Corp.Retailing5,70561410.850.526.089.5
5Celgene Corp.Pharmaceuticals, Biotechnology and Life Sciences69,6274,8086.956.815.180.4
6Boston Scientific Corp.Healthcare Equipment and Services16,0491,1006.946.317.471.7
7Western Digital Corp.Technology Hardware and Equipment19,8451,7468.863.84.170.5
8Lincoln National Corp.Insurance13,5429427.062.34.469.5
9Southwest Airlines Co.Transportation13,1269407.245.714.466.7
10Ameriprise Financial Diversified Financials22,3822,96413.255.56.766.0
12Northrop Grumman Corp.Capital Goods25,4423,68714.542.712.560.5
13Seagate Technology Public Co.Technology Hardware and Equipment18,3165,59130.587.6-15.059.4
14Biogen Idec Pharmaceuticals, Biotechnology and Life Sciences66,0391,3852.
15Johnson Controls Automobiles and Components34,7381,6514.826.524.056.8
16McGraw Hill Financial Diversified Financials21,1771,2475.935.115.856.4
17Gannett Co. Media6,7412714.059.0-1.756.4
18Moody's Corp.Diversified Financials16,8791,0906.550.53.956.3
19MylanPharmaceuticals, Biotechnology and Life Sciences16,6162,00012.
20H&R BlockConsumer Services7,9583464.442.98.555.0
21Flowserve Corp.Capital Goods10,9941,23011.
22MasterCardSoftware and Services100,2554,1914.244.95.552.8
23Thermo Fisher Scientific Pharmaceuticals, Biotechnology and Life Sciences40,2381,2403.144.55.652.7
24Starbucks Corp.Consumer Services59,0751,1602.038.210.452.6
25Twenty-First Century Fox Media79,7965,6817.151.30.752.4
26Biogen IdecCapital Goods47,3492,7525.839.39.352.2
27CBS Corp.Media38,245.,0247.956.0-2.552.1
28PentairCapital Goods15,4821,0506.839.68.651.6
29Halliburton Co.Energy43,0474,43510.323.122.851.2
30The Kroger Co.Food and Staples Retailing20,4181,8709.236.410.650.9
31AmerisourceBergen Corp.Healthcare Equipment and Services16,1748905.535.511.250.6
32PPG Industries Materials26,9361,0924.150.7-0.450.2
33SanDisk Corp.Technology Hardware and Equipment15,9341,82011.418.326.950.1
34McKesson Corp.Healthcare Equipment and Services37,0752,5446.941.56.050.0
35Ingersoll-RandCapital Goods17,7462,05311.652.3-1.749.7
36Cigna Corp.Healthcare Equipment and Services24,1811,2115.038.07.948.8
37FedEx Corp.Transportation44,8891,4653.329.614.748.7
38Adobe Systems Software and Services29,9331,5055.042.04.648.6
39General Motors Co.Automobiles and Components56,7717,53913.330.712.947.6
40Harris Corp.Technology Hardware and Equipment7,4616228.336.67.747.0
42St. Jude Medical Healthcare Equipment and Services18,0781,82510.128.014.646.7
43Tyson Foods Food, Beverage and Tobacco11,4969878.626.815.746.7
44TE ConnectivityTechnology Hardware and Equipment22,6161,2225.430.212.746.7
45Time Warner Media63,0775,5658.844.41.546.6
46SLM Corp.Diversified Financials11,4651,1299.843.71.946.5
47Assurant Insurance4,82680516.729.013.145.9
49Raytheon Co.Capital Goods28,9761,1554.042.12.545.7
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from December 2011 to December 2013. Includes the 486 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 12/31/2013. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.