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 or $1 billion of their shares from June 30, 2011 through June 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.
How the S&P 500 Stack Up as Stock Repurchasers
1—50 | 51—100 | 101—150 | 151—200 | 201—250 | 251—268
Company Industry Market
Capitalization $ Total
Buyback $ Total
Buyback
/ Market Cap Buyback
Strategy Buyback
Effectiveness Buyback ROI Average $38,681 $2,912 9.3% 13.5% 10.4% 25.0% Median $15,858 $1,350 8.1% 13.5% 9.7% 24.1% 151 VeriSign Software and Services $6,732 $1,043 15.5% 16.0% 5.2% 22.0% 152 Covidien Healthcare Equipment and Services $29,565 $2,238 7.6% 11.5% 9.1% 21.7% 153 The Procter & Gamble Co. Household and Personal Products $211,012 $10,010 4.7% 13.8% 6.9% 21.7% 154 Murphy Oil Corp. Energy $11,628 $500 4.3% -0.6% 22.4% 21.6% 155 Republic Services Commercial and Professional Services $12,283 $659 5.4% 7.8% 12.2% 21.0% 156 Stanley Black & Decker Capital Goods $12,516 $1,099 8.8% 6.5% 13.5% 20.9% 157 L-3 Communications Capital Goods $7,716 $1,460 18.9% 6.6% 13.4% 20.9% 158 Motorola Solutions Technology Hardware and Equipment $15,683 $4,455 28.4% 15.4% 4.6% 20.7% 159 Reynolds American Food, Beverage and Tobacco $26,463 $1,858 7.0% 18.6% 1.3% 20.1% 160 Rockwell Automation Capital Goods $11,611 $655 5.6% 2.9% 16.8% 20.1% 161 Prudential Financial Insurance $34,032 $1,886 5.5% 6.1% 12.8% 19.7% 162 Hasbro Consumer Durables and Apparel $5,800 $405 7.0% 3.5% 15.4% 19.4% 163 Iron Mountain Commercial and Professional Services $5,074 $762 15.0% 12.8% 5.7% 19.3% 164 Sysco Corp. Food and Staples Retailing $20,273 $994 4.9% 10.4% 7.8% 19.0% 165 PetSmart Retailing $6,921 $808 11.7% 26.0% -5.6% 19.0% 166 KLA-Tencor Corp. Semiconductors and Semiconductor Equipment $9,245 $537 5.8% 17.4% 1.4% 19.0% 167 Microsoft Corp. Software and Services $288,489 $10,389 3.6% 17.6% 1.2% 19.0% 168 Dr Pepper Snapple Group Food, Beverage and Tobacco $9,372 $723 7.7% 12.5% 5.6% 18.8% 169 Safeway Food and Staples Retailing $5,704 $2,294 40.2% 4.6% 13.5% 18.7% 170 UnitedHealth Group Healthcare Equipment and Services $66,790 $6,157 9.2% 14.9% 3.3% 18.6% 171 Patterson Companies Healthcare Equipment and Services $3,954 $482 12.2% 8.0% 9.7% 18.4% 172 United Parcel Service Transportation $81,667 $5,101 6.2% 12.0% 5.5% 18.2% 173 Rockwell Collins Capital Goods $8,603 $1,238 14.4% 3.7% 13.9% 18.1% 174 Philip Morris International Food, Beverage and Tobacco $141,668 $12,003 8.5% 21.6% -3.1% 17.9% 175 Airgas Materials $6,990 $600 8.6% 22.8% -4.1% 17.8% 176 Parker-Hannifin Corp. Capital Goods $14,239 $693 4.9% 4.1% 13.0% 17.7% 177 Eli Lilly and Co. Pharmaceuticals, Biotechnology and Life Sciences $53,720 $1,919 3.6% 26.5% -7.0% 17.7% 178 AutoNation Retailing $5,264 $3,489 5.2% 19.3% -1.7% 17.3% 179 U.S. Bancorp Banks $66,865 $18,663 9.3% 17.8% -5.2% 11.6% 180 Xerox Corp. Technology Hardware and Equipment $11,137 $1,763 15.8% -4.6% 22.8% 17.2% 181 Chevron Corp. Energy $229,403 $8,477 3.7% 11.6% 5.0% 17.1% 182 WellPoint Healthcare Equipment and Services $24,582 $4,696 19.1% 1.2% 15.6% 17.0% 183 The Coca-Cola Co. Food, Beverage and Tobacco $178,640 $10,679 6.0% 14.4% 1.9% 16.6% 184 Ralph Lauren Corp. Consumer Durables and Apparel $15,793 $843 5.3% 18.5% -1.8% 16.4% 185 Dollar Tree. Retailing $11,380 $958 8.4% 26.9% -8.6% 15.9% 186 AT&T. Telecommunication Services $190,452 $21,969 11.5% 15.0% .07% 15.9% 187 Lorillard Food, Beverage and Tobacco $16,500 $1,531 9.3% 15.4% 0.3% 15.8% 188 People's United Financial Banks $4,778 $709 14.8% 7.2% 7.9% 15.7% 189 AutoZone Retailing $15,050 $2,624 17.4% 19.6% -3.4% 15.5% 190 Denbury Resources Energy $6,446 $560 8.7% -8.0% 25.6% 15.5% 191 E. I. du Pont de Nemours and Co. Materials $48,324 $1,800 3.7% 3.5% 11.4% 15.4% 192 Emerson Electric Co. Capital Goods $39,207 $1,810 4.6% 4.0% 10.9% 15.3% 193 United Technologies Corp. Capital Goods $85,440 $1,345 1.6% 7.1% 7.5% 15.2% 194 Nordstrom. Retailing $11,728 $1,312 11.2% 14.7% 0.3% 15.1% 195 Harris Corp. Technology Hardware and Equipment $5,397 $888 16.5% 2.1% 12.1% 14.4% 196 General Dynamics Corp. Capital Goods $27,665 $1,096 4.0% 4.2% 9.8% 14.4% 197 CA Technologies Software and Services $12,963 $1,442 11.1% 10.6% 3.3% 14.2% 198 International Game Technology Consumer Services $4,351 $581 13.4% 2.2% 11.7% 14.2% 199 ConocoPhillips Energy $73,971 $11,449 15.5% 7.6% 5.8% 13.8% 200 Dollar General Corp. Retailing $16,511 $876 5.3% 25.7% -9.7% 13.5% Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2011 to June 2013. Includes the 487 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/30/2013. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.