Buybacks and dilution
In Q2 2026, the 489 companies that reported the quarter spent $226.2B buying back their own shares, against $207.4B a year earlier, and paid $144.3B in dividends. 64% of them had fewer shares outstanding than a year before; the median count changed −0.9%.
Q2 2026 is the latest complete quarter. Q3 2026 is still being reported: 203 companies so far. Filings through November 1, 2026; yields at closes of October 30, 2026.
The last 24 quarters
Q4 2020 to Q3 2026, calendar quarters. Quarters still being reported are drawn as outlines and hollow points.
Sums of each company's repurchases and dividends paid, as filed. The number of reporting companies differs by quarter.
Companies with fewer shares outstanding than four quarters earlier, as a share of those with both counts. The dashed line is half.
Highest buyback yield
Trailing twelve months of repurchases over market value at the close of October 30, 2026.
| Company | Sector | Shares | 12-month change | Buybacks, TTM | Buyback yield | Dividends, TTM | Market value | Shares at |
|---|---|---|---|---|---|---|---|---|
| Corebridge Financial, Inc.CRBG | Financial | 446M | −17.3% | $3.0B | 19.6% | $473M | $15.5B | Jun 30, 2026 |
| Salesforce, Inc.CRM | Technology | 823M | −13.6% | $35.1B | 18.6% | $1.5B | $188.6B | Jul 31, 2026* |
| SYNCHRONY FINANCIALSYF | Financial | 311M | −13.5% | $3.8B | 16.4% | $420M | $23.5B | Sep 30, 2026 |
| Omnicom Group Inc.OMC | Communication Services | 273M | +41.4% | $3.6B | 16.3% | $839M | $22.2B | Sep 30, 2026 |
| Las Vegas Sands Corp.LVS | Consumer Cyclical | 627M | −7.3% | $3.0B | 12.9% | $892M | $23.2B | Sep 30, 2026 |
| PayPal HoldingsPYPL | Financial | 831M | −11.2% | $6.1B | 12.8% | $500M | $47.4B | Sep 30, 2026 |
| NVR, Inc.NVR | Consumer Cyclical | 3M | −7.1% | $1.8B | 11.2% | — | $15.9B | Jun 30, 2026 |
| ZOETIS INC.ZTS | Healthcare | 413M | −6.8% | $3.6B | 11.1% | — | $32.9B | Jun 30, 2026* |
| General Motors CompanyGM | Consumer Cyclical | 844M | −9.6% | $7.8B | 10.6% | $1.2B | $73.7B | Sep 30, 2026 |
| United Therapeutics CorpUTHR | Healthcare | 43M | −5.2% | $2.5B | 9.7% | — | $25.7B | Jun 30, 2026 |
| Arch Capital Group LtdACGL | Financial | 341M | −8.6% | $3.5B | 9.6% | — | $36.3B | Jun 30, 2026 |
| Adobe Inc.ADBE | Technology | 389M | −7.0% | $9.3B | 9.5% | — | $97.4B | Aug 28, 2026 |
| Booking Holdings Inc.BKNG | Consumer Cyclical | 751M | −7.3% | $10.5B | 9.5% | $1.3B | $111.3B | Jun 30, 2026 |
| HCA Healthcare, Inc.HCA | Healthcare | 209M | −8.5% | $9.2B | 9.3% | $681M | $98.8B | Sep 30, 2026 |
| Tenet Healthcare Corporation NewTHC | Healthcare | 80M | −9.4% | $1.8B | 8.3% | — | $21.7B | Sep 30, 2026 |
| Yum China Holdings, Inc. Common StockYUMC | Consumer Cyclical | 342M | −7.1% | $1.3B | 8.3% | $376M | $15.7B | Jun 30, 2026 |
| M&T Bank Corp.MTB | Financial | 144M | −7.6% | $2.6B | 8.2% | $906M | $31.9B | Jun 30, 2026 |
| NRG Energy, Inc.NRG | Utilities | 210M | +8.7% | $1.6B | 8.1% | — | $20.2B | Jun 30, 2026 |
| Unum GroupUNM | Financial | 158M | −7.0% | $1.1B | 7.8% | $308M | $14.4B | Jun 30, 2026 |
| Travelers Companies, Inc.TRV | Financial | 205M | −8.1% | $6.2B | 7.7% | $1.0B | $81.2B | Sep 30, 2026 |
| Cognizant Technology SolutionsCTSH | Technology | 447M | −7.4% | $2.2B | 7.6% | $616M | $29.1B | Sep 30, 2026 |
| Ameriprise Financial, Inc.AMP | Financial | 88M | −6.3% | $3.2B | 7.5% | $600M | $43.4B | Jun 30, 2026 |
| Xylem IncXYL | Industrials | 229M | −5.8% | $1.6B | 7.5% | $405M | $21.2B | Sep 30, 2026 |
| Exelixis IncEXEL | Healthcare | 244M | −9.0% | $1.3B | 7.5% | — | $16.9B | Oct 2, 2026 |
| Truist Financial CorporationTFC | Financial | 1.20B | −6.3% | $4.3B | 7.3% | $2.6B | $58.5B | Sep 30, 2026 |
Most spent on buybacks
Trailing twelve months of repurchases, as filed.
| Company | Sector | Shares | 12-month change | Buybacks, TTM | Buyback yield | Dividends, TTM | Market value | Shares at |
|---|---|---|---|---|---|---|---|---|
| AppleAAPL | Technology | 14.59B | −1.7% | $82.2B | 1.6% | $15.6B | $5.03T | Jun 27, 2026 |
| NVIDIANVDA | Technology | 24.10B | −0.8% | $55.3B | 1.1% | $6.7B | $4.93T | Jul 26, 2026 |
| Salesforce, Inc.CRM | Technology | 823M | −13.6% | $35.1B | 18.6% | $1.5B | $188.6B | Jul 31, 2026* |
| JPMorgan Chase & Co.JPM | Financial | 2.66B | −3.3% | $31.7B | 3.5% | $17.3B | $895.9B | Jun 30, 2026 |
| Bank of America CorporationBAC | Financial | 6.99B | −5.6% | $24.9B | 7.1% | — | $349.7B | Jun 30, 2026 |
| VisaV | Financial | — | — | $21.3B | — | $4.9B | — | Mar 31, 2026 |
| MicrosoftMSFT | Technology | 7.43B | −0.1% | $21.0B | 0.5% | $27.0B | $3.88T | Sep 30, 2026 |
| MastercardMA | Financial | — | — | $15.5B | — | $3.0B | — | Sep 30, 2026 |
| Wells Fargo & Co.WFC | Financial | 3.00B | −4.4% | $14.5B | 5.8% | $5.7B | $250.4B | Sep 30, 2026* |
| Goldman Sachs Group Inc.GS | Financial | 291M | −3.8% | $14.0B | 5.4% | $6.1B | $260.5B | Jun 30, 2026 |
| Citigroup Inc.C | Financial | 1.75B | −7.2% | $13.3B | 6.2% | $5.4B | $214.5B | Dec 31, 2025 |
| NetflixNFLX | Communication Services | 4.11B | −3.1% | $12.9B | 5.0% | — | $254.9B | Sep 30, 2026* |
| T-Mobile US, Inc.TMUS | Communication Services | 1.06B | −5.3% | $12.0B | 7.3% | $4.4B | $165.7B | Sep 30, 2026* |
| ChevronCVX | Energy | 1.98B | +14.3% | $11.1B | 2.4% | $13.9B | $465.3B | Jun 30, 2026 |
| Booking Holdings Inc.BKNG | Consumer Cyclical | 751M | −7.3% | $10.5B | 9.5% | $1.3B | $111.3B | Jun 30, 2026 |
| AT&T Inc.T | Communication Services | 6.74B | −5.0% | $9.3B | 6.5% | $7.9B | $144.2B | Sep 30, 2026 |
| Adobe Inc.ADBE | Technology | 389M | −7.0% | $9.3B | 9.5% | — | $97.4B | Aug 28, 2026 |
| QualcommQCOM | Technology | 1.05B | −2.7% | $9.3B | 5.3% | — | $173.0B | Jun 28, 2026 |
| HCA Healthcare, Inc.HCA | Healthcare | 209M | −8.5% | $9.2B | 9.3% | $681M | $98.8B | Sep 30, 2026 |
| Dell Technologies Inc.DELL | Technology | — | — | $8.5B | — | $1.6B | — | Jul 31, 2026 |
| GE AerospaceGE | Industrials | 1.03B | −2.0% | $8.5B | 2.7% | — | $311.9B | Sep 30, 2026 |
| BroadcomAVGO | Technology | 4.77B | +1.1% | $8.4B | 0.5% | $12.1B | $1.56T | Aug 2, 2026 |
| Walt Disney CompanyDIS | Consumer Cyclical | 1.73B | −4.0% | $8.2B | 4.3% | — | $191.6B | Jun 27, 2026 |
| Johnson & JohnsonJNJ | Healthcare | 2.41B | −0.1% | $7.9B | 1.2% | — | $657.7B | Sep 27, 2026 |
| General Motors CompanyGM | Consumer Cyclical | 844M | −9.6% | $7.8B | 10.6% | $1.2B | $73.7B | Sep 30, 2026 |
Share counts shrinking fastest
Change in cover-page shares outstanding over about a year, on today’s split basis.
| Company | Sector | Shares | 12-month change | Buybacks, TTM | Buyback yield | Dividends, TTM | Market value | Shares at |
|---|---|---|---|---|---|---|---|---|
| DuPont de Nemours, Inc. Common StockDD | Basic Materials | 135M | −59.5% | — | — | $417M | $18.9B | Jun 30, 2026 |
| Corebridge Financial, Inc.CRBG | Financial | 446M | −17.3% | $3.0B | 19.6% | $473M | $15.5B | Jun 30, 2026 |
| Salesforce, Inc.CRM | Technology | 823M | −13.6% | $35.1B | 18.6% | $1.5B | $188.6B | Jul 31, 2026* |
| SYNCHRONY FINANCIALSYF | Financial | 311M | −13.5% | $3.8B | 16.4% | $420M | $23.5B | Sep 30, 2026 |
| PayPal HoldingsPYPL | Financial | 831M | −11.2% | $6.1B | 12.8% | $500M | $47.4B | Sep 30, 2026 |
| The Kroger Co.KR | Consumer Defensive | 591M | −10.9% | — | — | — | $39.4B | Aug 15, 2026* |
| General Motors CompanyGM | Consumer Cyclical | 844M | −9.6% | $7.8B | 10.6% | $1.2B | $73.7B | Sep 30, 2026 |
| Tenet Healthcare Corporation NewTHC | Healthcare | 80M | −9.4% | $1.8B | 8.3% | — | $21.7B | Sep 30, 2026 |
| PTC, INCPTC | Technology | 109M | −9.4% | $1.4B | 6.6% | — | $21.2B | Jun 30, 2026 |
| Exelixis IncEXEL | Healthcare | 244M | −9.0% | $1.3B | 7.5% | — | $16.9B | Oct 2, 2026 |
| Arch Capital Group LtdACGL | Financial | 341M | −8.6% | $3.5B | 9.6% | — | $36.3B | Jun 30, 2026 |
| Valero Energy CorporationVLO | Energy | 279M | −8.6% | $7.3B | 6.5% | $1.4B | $111.5B | Sep 30, 2026 |
| HCA Healthcare, Inc.HCA | Healthcare | 209M | −8.5% | $9.2B | 9.3% | $681M | $98.8B | Sep 30, 2026 |
| Travelers Companies, Inc.TRV | Financial | 205M | −8.1% | $6.2B | 7.7% | $1.0B | $81.2B | Sep 30, 2026 |
| Roper TechnologiesROP | Technology | 99M | −8.1% | — | — | $369M | $46.1B | Jun 30, 2026 |
| Dollar Tree Inc.DLTR | Consumer Defensive | 188M | −8.0% | $1.8B | 7.3% | — | $25.1B | Aug 1, 2026 |
| Marathon Petroleum CorporationMPC | Energy | 281M | −7.6% | $4.9B | 4.0% | $1.2B | $124.9B | Jun 30, 2026 |
| M&T Bank Corp.MTB | Financial | 144M | −7.6% | $2.6B | 8.2% | $906M | $31.9B | Jun 30, 2026 |
| Cognizant Technology SolutionsCTSH | Technology | 447M | −7.4% | $2.2B | 7.6% | $616M | $29.1B | Sep 30, 2026 |
| Johnson Controls International plcJCI | Industrials | 610M | −7.3% | $5.5B | 6.1% | $975M | $90.9B | Mar 31, 2026 |
| Booking Holdings Inc.BKNG | Consumer Cyclical | 751M | −7.3% | $10.5B | 9.5% | $1.3B | $111.3B | Jun 30, 2026 |
| Las Vegas Sands Corp.LVS | Consumer Cyclical | 627M | −7.3% | $3.0B | 12.9% | $892M | $23.2B | Sep 30, 2026 |
| Citigroup Inc.C | Financial | 1.75B | −7.2% | $13.3B | 6.2% | $5.4B | $214.5B | Dec 31, 2025 |
| NVR, Inc.NVR | Consumer Cyclical | 3M | −7.1% | $1.8B | 11.2% | — | $15.9B | Jun 30, 2026 |
| Yum China Holdings, Inc. Common StockYUMC | Consumer Cyclical | 342M | −7.1% | $1.3B | 8.3% | $376M | $15.7B | Jun 30, 2026 |
Diluting most
The largest increases in shares outstanding over about a year.
| Company | Sector | Shares | 12-month change | Buybacks, TTM | Buyback yield | Dividends, TTM | Market value | Shares at |
|---|---|---|---|---|---|---|---|---|
| Coeur Mining, Inc.CDE | Basic Materials | 1.03B | +59.9% | — | — | — | $13.5B | Jun 30, 2026 |
| Omnicom Group Inc.OMC | Communication Services | 273M | +41.4% | $3.6B | 16.3% | $839M | $22.2B | Sep 30, 2026 |
| Huntington Bancshares IncHBAN | Financial | 2.02B | +38.1% | — | — | $1.1B | $31.8B | Sep 30, 2026 |
| Fifth Third BancorpFITB | Financial | 907M | +37.0% | $300M | 0.6% | $1.3B | $48.9B | Jun 30, 2026 |
| DigitalOcean Holdings, Inc.DOCN | Technology | 118M | +29.2% | $3M | 0.0% | — | $10.5B | Jun 30, 2026 |
| Royal Gold IncRGLD | Energy | 85M | +28.7% | — | — | $140M | $19.4B | Jun 30, 2026 |
| IonQ, Inc.IONQ | Technology | 381M | +28.4% | — | — | — | $11.4B | Jun 30, 2026 |
| LumentumLITE | Technology | 90M | +28.3% | — | — | — | $75.4B | Jun 27, 2026 |
| Coherent Corp.COHR | Technology | 196M | +25.7% | — | — | — | $41.2B | Jun 30, 2026* |
| Bloom EnergyBE | Industrials | 296M | +25.0% | — | — | — | $60.1B | Sep 30, 2026 |
| Rocket LabRKLB | Industrials | 598M | +24.8% | — | — | — | $32.7B | Jun 30, 2026 |
| Palo Alto NetworksPANW | Technology | 818M | +22.3% | — | — | — | $299.3B | Jul 31, 2026 |
| TeslaTSLA | Consumer Cyclical | 3.95B | +18.9% | — | — | — | $1.58T | Sep 30, 2026 |
| SiTime Corporation Common StockSITM | Technology | 30M | +15.6% | — | — | — | $13.4B | Jun 30, 2026 |
| IntelINTC | Technology | 5.04B | +15.2% | — | — | — | $331.7B | Jun 27, 2026 |
| Carnival CorporationCCL | Industrials | 1.34B | +15.2% | — | — | — | $38.8B | Aug 31, 2026 |
| Revolution Medicines, Inc. Common StockRVMD | Healthcare | 214M | +14.7% | — | — | — | $41.0B | Jun 30, 2026 |
| ITT Inc.ITT | Industrials | 89M | +14.6% | $125M | 0.7% | $124M | $17.7B | Jul 4, 2026 |
| ChevronCVX | Energy | 1.98B | +14.3% | $11.1B | 2.4% | $13.9B | $465.3B | Jun 30, 2026 |
| Constellation Energy CorporationCEG | Utilities | 354M | +13.4% | — | — | $551M | $93.0B | Jun 30, 2026 |
| Ventas, Inc.VTR | Real Estate | 529M | +12.6% | — | — | $976M | $44.8B | Sep 30, 2026 |
| Super Micro Computer, Inc. Common StockSMCI | Technology | 657M | +10.6% | — | — | — | $21.6B | Jun 30, 2026 |
| Western Digital Corp.WDC | Technology | 374M | +9.5% | $3.0B | 2.2% | $196M | $137.0B | Oct 2, 2026 |
| Global Payments, Inc.GPN | Financial | 265M | +9.1% | $1.6B | 6.2% | $252M | $25.6B | Jun 30, 2026 |
| NRG Energy, Inc.NRG | Utilities | 210M | +8.7% | $1.6B | 8.1% | — | $20.2B | Jun 30, 2026 |
Method
- Share change
- latest cover-page count over the count four fiscal quarters earlier (nearest end to 365 days back), both on today's split basis.
- Trailing twelve months
- sum of the last four consecutive quarters' cash flow lines, newest within 400 days of the as-of date, else null.
- Quarter totals
- sum of dollars across companies reporting the calendar quarter (periods assigned by midpoint); a quarter is complete when at least 90% of the prior quarter's reporters have filed it.
- Outliers
- companies whose count moved more than 60% in a year are listed under excluded and left out of the median and the shrinking share: Capital One Financial (share count moved +62% in a year); Devon Energy Corporation (share count moved +73% in a year); Waters Corp (share count moved +65% in a year).
- Yield
- trailing twelve-month dollars over market value at the latest close; closes from a market data vendor.
528 companies, 461 with a 12-month share change and 338 with trailing buybacks. An asterisk marks companies whose earlier share counts were rescaled for a stock split. Shares and cash flows come from the companies’ own 10-K and 10-Q filings; nothing here is a recommendation.