Industrial stock buybacks
- 12-month industrial stock buybacks (as of Sept. 31, 2025): $91.6 billion
- 12-month industrial stock buybacks as a percentage of all S&P 500 stock buybacks: 8.98%
- 5-year industrial stock buybacks: $361 billion
- 10-year industrial stock buybacks: $675.5 billion
Industrial companies have increased their total stock buybacks significantly in the two most recent quarters, which helped this sector push past consumer discretionary companies.
Healthcare stock buybacks
- 12-month healthcare stock buybacks (as of Sept. 31, 2025): $89.3 billion
- 12-month healthcare stock buybacks as a percentage of all S&P 500 stock buybacks: 8.76%
- 5-year healthcare stock buybacks: $409.4 billion
- 10-year healthcare stock buybacks: $810 billion
Share repurchases have declined in the healthcare sector over the last decade, but healthcare companies still make up a sizable portion of stock buybacks overall.
How many companies have done stock buybacks in the last year?
A total of 436 companies have done stock buybacks in the last year on record, ending on Sept. 30, 2025.
Stock buybacks are top-heavy despite the large number of companies that do them. The top 20 companies in the S&P 500 have historically accounted for nearly half (47.7%) of stock buybacks on average.
Why should investors care about stock buybacks?
Stock buybacks generally make a company's shares more valuable. They decrease the number of outstanding shares, so there's a smaller supply available, which increases earnings per share (EPS). Each shareholder is effectively getting a larger slice of a company's earnings and total value.
However, not everybody believes that share buybacks are a good use of capital. Some economists argue that companies are better off reinvesting cash in their businesses for expansion instead of using it to repurchase shares on the open market.
It ultimately depends on the company and the strategy behind the stock buyback. Done for the wrong reasons, stock buybacks can be disastrous. Bed Bath & Beyond is a cautionary tale in this regard. From 2004 until it declared bankruptcy in 2023, it spent $11.8 billion on stock buybacks to improve its share price even as its workforce dwindled.
But well-executed stock buybacks are good news for investors, and there's no better example than Apple. Led by a strong management team, this company has regularly bought back stock to increase share value. If you're confident in a company's direction and leadership, then a stock buyback isn't anything to worry about.
Sources
