Over $6.5T total dollars spent on share repurchase programs over the past decade
Calcbench, the leading interactive, financial research platform for data-intensive analysts, announced its latest report, an analysis of share buybacks across all public companies (regardless of size), over a 10-year period. One eye-popping finding in the report: companies spent more than $6.5 trillion on share repurchase programs over the past decade.
Share buybacks (or stock repurchase programs as they are often called) have long been in vogue. Just last week, Amazon reported a $10 billion share buyback program, the largest in its 25-year history. This announcement comes on the heels of several other recent major share buyback announcements from companies such as Cigna and Tupperware.
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“Calcbench has been studying share buybacks over the past several years,” says Pranav Ghai, co-Founder and CEO of Calcbench. “The topic of buybacks is nuanced. There’s a lot of debate as to whether companies should be spending money on buybacks versus putting extra cash toward internal investments. Regardless of where you stand on this topic, Calcbench has the tools to analyze the motivations behind the buybacks.”
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Last September Calcbench released a report that several firms including Alphabet, Apple, Bank of America, JPMorganChase, Microsoft, Oracle and Wells Fargo, account for a large portion of total spending on share buybacks. Its new report confirms that trend: those seven firms spent $1.247 trillion on share repurchases from 2012 through 2021 — 19 percent of all money spent by all public companies on share repurchases in that period. The average spending among all companies was only $155 million per quarter.
In addition to understanding share buyback trends, Calcbench has been working with Jason Voss, co-Founder & CEO at Deception And Truth Analysis Inc., to take a deep look at share buybacks at Nvidia, a computer systems design services company, and the larger semiconductor space.
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