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% 101 Ball Corp. Materials 8,738 958 11.0 20.2 6.9 28.5 102 Johnson & Johnson Pharmaceuticals, Biotechnology and Life Sciences 295,980 17,687 6.0 29.3 -0.7 28.4 103 Marsh & McLennan Cos. Insurance 28,480 1,172 4.1 27.1 1.1 28.4 104 Hasbro Consumer Durables and Apparel 6,887 406 5.9 28.2 0.1 28.3 105 CR Bard Healthcare Equipment and Services 10,906 1,560 14.3 20.7 6.1 28.1 106 Time Warner Media 61,967 5,831 9.4 40.9 -9.2 28.0 107 Agilent Technologies Pharmaceuticals, Biotechnology and Life Sciences 19,143 1,194 6.2 18.5 7.9 27.9 108 Reynolds American Food, Beverage and Tobacco 32,376 1,198 3.7 23.8 3.0 27.6 109 Twenty-First Century Fox Media 77,522 5,606 7.2 41.1 -9.7 27.4 110 AutoZone Retailing 17,481 2,779 15.9 17.8 8.1 27.4 111 Avery Dennison Corp. Materials 4,879 455 9.3 33.5 -4.8 27.1 112 Mondelez International Food, Beverage and Tobacco 63,616 1,513 2.4 23.3 2.9 26.9 113 Rockwell Collins Capital Goods 10,588 704 6.6 24.7 1.8 26.9 114 Viacom Media 37,279 7,344 19.7 36.7 -7.2 26.8 115 Huntington Bancshares Banks 7,897 481 6.1 24.4 1.8 26.7 116 Cigna Corp. Healthcare Equipment and Services 24,708 2,240 9.1 37.1 -7.7 26.5 117 QUALCOMM Technology Hardware and Equipment 133,680 8,805 6.6 16.7 8.4 26.5 118 BlackRock Diversified Financials 54,057 2,415 4.5 33.8 -5.5 26.4 119 Honeywell International Capital Goods 71,791 1,941 2.7 30.3 -3.1 26.2 120 UnitedHealth Group Healthcare Equipment and Services 80,104 6,382 8.0 19.0 6.0 26.1 121 Medtronic Healthcare Equipment and Services 63,517 4,395 6.9 29.9 -2.9 26.1 122 MasterCard Software and Services 85,842 6,099 7.1 32.5 -4.9 26.1 123 Comcast Corp. Media 139,405 5,000 3.6 33.9 -5.9 26.0 124 Starbucks Corp. Consumer Services 58,252 1,717 2.9 16.1 8.5 26.0 125 Pall Corp. Capital Goods 9,366 522 5.6 24.7 1.0 25.9 126 The Bank of New York Mellon Corp. Diversified Financials 42,741 2,293 5.4 28.3 -1.9 25.8 127 Dr Pepper Snapple Group Food, Beverage and Tobacco 11,504 904 7.9 20.8 4.1 25.8 128 The Allstate Corp. Insurance 25,484 3,421 13.4 33.9 -6.1 25.7 129 Merck & Co. Pharmaceuticals, Biotechnology and Life Sciences 169,059 11,535 6.8 26.4 -0.5 25.7 130 Fifth Third Bancorp Banks 18,026 2,144 11.9 27.9 -1.7 25.7 131 Marathon Petroleum Corp. Energy 22,534 4,441 19.7 53.4 -18.3 25.3 132 Intuit Software and Services 22,861 1,889 8.3 17.1 6.9 25.1 133 Eastman Chemical Co. Materials 13,203 600 4.5 35.1 -7.4 25.0 134 Joy Global Capital Goods 6,166 344 5.6 -1.9 27.3 24.9 135 Amgen Pharmaceuticals, Biotechnology and Life Sciences 89,609 2,859 3.2 31.5 -5.4 24.4 136 CSX Corp. Transportation 30,944 1,044 3.4 18.9 4.5 24.2 137 Invesco Diversified Financials 16,334 755 4.6 28.6 -3.5 24.2 138 Nike Consumer Durables and Apparel 68,100 3,889 5.7 19.6 3.6 23.9 139 United Technologies Corp. Capital Goods 105,837 1,870 1.8 26.2 -1.8 23.9 140 Oracle Corp. Software and Services 180,557 20,834 11.5 23.0 0.7 23.8 141 AutoNation Retailing 7,125 293 4.1 25.7 -1.5 23.8 142 KLA-Tencor Corp. Semiconductors and Semiconductor Equipment 12,046 514 4.3 19.3 3.5 23.5 143 Wyndham Worldwide Corp. Consumer Services 9,640 1,191 12.4 23.5 0.0 23.5 144 F5 Networks Technology Hardware and Equipment 8,439 751 8.9 -4.0 28.4 23.2 145 Morgan Stanley Diversified Financials 63,732 1,691 2.7 43.4 -14.1 23.1 146 Prudential Financial Insurance 41,012 1,388 3.4 30.7 -5.9 23.0 147 Capital One Financial Corp. Diversified Financials 47,213 2,014 4.3 22.4 0.1 22.5 148 Visa Software and Services 132,405 9,050 6.8 33.5 -8.3 22.5 149 CBS Corp. Media 35,497 4,928 13.9 37.2 -11.0 22.2 150 Expedia Retailing 10,226 760 7.4 35.0 -9.6 22.0 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.