Buyback yield (Buyback yld)
How much the share count shrank over the year, as a percentage.
A shrinking share count raises your claim on the business without you doing anything.
How it is computed here
Negative of the year-on-year change in share count, in percent
Measured over the latest complete fiscal year, as filed. Filed under value. Neither a high nor a low reading is good on its own, so it is never coloured as one.
No published threshold exists for this figure, so this page prints none. Read it against the company's own history and its peers instead.
When it misleads
- Derived from the change in share count, so it nets buybacks against shares issued to staff. A company can buy back heavily and still show nothing here.
- Buying back stock above intrinsic value destroys value; the sign of this figure does not tell you which happened.
Questions
How is buyback yield calculated?
Negative of the year-on-year change in share count, in percent. Measured over the latest complete fiscal year, as filed.
What does buyback yield tell a value investor?
A shrinking share count raises your claim on the business without you doing anything.
When does buyback yield mislead?
Derived from the change in share count, so it nets buybacks against shares issued to staff. A company can buy back heavily and still show nothing here. Buying back stock above intrinsic value destroys value; the sign of this figure does not tell you which happened.