Biggest real buybacks

Cash spent buying back shares minus the shares handed out as pay: only what is left actually returns money to owners.

The top 50 US-listed companies above $2B, recomputed each night from SEC filings.

Technology takes 4 of the top ten places. Apple Inc. leads at $72.6B, and the middle of the list sits at $4.9B (Caterpillar Inc.).

The study: Where the cash went: capex, dividends and buybacks across 1,173 companies.

The wider list: every stock that buys back more than it hands out.

1. #1TechnologyAAPLApple Inc.$72.6B$86.4B bought back, $13.8B issued as pay, FY2026
2. #2TechnologyNVDANVIDIA Corporation$33.7B$40.1B bought back, $6.4B issued as pay, FY2026
3. #3Financial ServicesJPMJPMorgan Chase$28.0B$31.6B bought back, $3.6B issued as pay, FY2025

4. 4GOOGLAlphabet Inc.Communication Services$45.7B bought back, $25.0B issued as pay, FY2025$20.8B
5. 5VVisa Inc.Financial Services$20.5B bought back, $928M issued as pay, FY2026$19.5B
6. 6BACBank of AmericaFinancial Services$21.4B bought back, $4.0B issued as pay, FY2025$17.4B
7. 7MAMastercardFinancial Services$11.7B bought back, $597M issued as pay, FY2025$11.1B
8. 8MSFTMicrosoft CorporationTechnology$22.3B bought back, $12.4B issued as pay, FY2026$9.9B
9. 9HCAHCA HealthcareHealthcare$10.1B bought back, $401M issued as pay, FY2025$9.7B
10. 10ADBEAdobe Inc.Technology$11.3B bought back, $1.9B issued as pay, FY2025$9.3B
11. 11TMUST-Mobile US, Inc.Communication Services$10.0B bought back, $829M issued as pay, FY2025$9.1B
12. 12CRMSalesforceTechnology$12.6B bought back, $3.5B issued as pay, FY2026$9.1B
13. 13NFLXNetflixCommunication Services$9.1B bought back, $368M issued as pay, FY2025$8.8B
14. 14GEGE AerospaceIndustrials$7.6B bought back, $325M issued as pay, FY2025$7.2B
15. 15SCHWCharles Schwab CorporationFinancial Services$7.3B bought back, $317M issued as pay, FY2025$7.0B
16. 16CMCSAComcastCommunication Services$7.2B bought back, $1.3B issued as pay, FY2025$5.9B
17. 17JCIJohnson ControlsIndustrials$6.0B bought back, $140M issued as pay, FY2025$5.9B
18. 18BKNGBooking HoldingsConsumer Cyclical$6.4B bought back, $613M issued as pay, FY2025$5.8B
19. 19METAMeta PlatformsCommunication Services$26.2B bought back, $20.4B issued as pay, FY2025$5.8B
20. 20GMGeneral MotorsConsumer Cyclical$6.0B bought back, $334M issued as pay, FY2025$5.7B
21. 21AIGAmerican International GroupFinancial Services$5.8B bought back, $207M issued as pay, FY2025$5.6B
22. 22ACNAccentureTechnology$7.5B bought back, $2.1B issued as pay, FY2026$5.4B
23. 23DELLDell TechnologiesTechnology$6.0B bought back, $723M issued as pay, FY2026$5.3B
24. 24AXPAmerican ExpressFinancial Services$5.8B bought back, $551M issued as pay, FY2025$5.3B
25. 25PYPLPayPalFinancial Services$6.1B bought back, $1.0B issued as pay, FY2025$5.0B
26. 26CATCaterpillar Inc.Industrials$5.2B bought back, $242M issued as pay, FY2025$4.9B
27. 27SPGIS&P GlobalFinancial Services$5.0B bought back, $236M issued as pay, FY2025$4.8B
28. 28UBERUberIndustrials$6.5B bought back, $1.8B issued as pay, FY2025$4.7B
29. 29COPConocoPhillipsEnergy$5.0B bought back, $336M issued as pay, FY2025$4.7B
30. 30JNJJohnson & JohnsonHealthcare$6.0B bought back, $1.4B issued as pay, FY2025$4.6B
31. 31UNHUnitedHealth GroupHealthcare$5.5B bought back, $971M issued as pay, FY2025$4.6B
32. 32PGProcter & GambleConsumer Defensive$5.0B bought back, $524M issued as pay, FY2026$4.5B
33. 33MCKMcKesson CorporationHealthcare$4.8B bought back, $247M issued as pay, FY2026$4.5B
34. 34WMTWalmartConsumer Defensive$8.1B bought back, $3.6B issued as pay, FY2026$4.5B
35. 35LINLinde plcBasic Materials$4.6B bought back, $164M issued as pay, FY2025$4.4B
36. 36QCOMQualcommTechnology$7.8B bought back, $3.5B issued as pay, FY2026$4.4B
37. 37SNDKSandiskTechnology$4.5B bought back, $232M issued as pay, FY2026$4.3B
38. 38MRKMerck & Co.Healthcare$5.1B bought back, $820M issued as pay, FY2025$4.3B
39. 39AMATApplied MaterialsTechnology$4.9B bought back, $668M issued as pay, FY2025$4.2B
40. 40DHID. R. HortonConsumer Cyclical$4.3B bought back, $131M issued as pay, FY2025$4.2B
41. 41TAT&TCommunication Services$4.5B bought back, $536M issued as pay, FY2025$4.0B
42. 42HONHoneywellIndustrials$3.8B bought back, $196M issued as pay, FY2025$3.6B
43. 43BNYThe Bank of New York Mellon CorFinancial Services$3.5B bought back, $1M issued as pay, FY2025$3.5B
44. 44LLYLilly (Eli)Healthcare$4.1B bought back, $626M issued as pay, FY2025$3.5B
45. 45LRCXLam ResearchTechnology$3.9B bought back, $386M issued as pay, FY2026$3.5B
46. 46INTUIntuitTechnology$5.4B bought back, $2.1B issued as pay, FY2026$3.4B
47. 47CICignaHealthcare$3.6B bought back, $291M issued as pay, FY2025$3.3B
48. 48MPCMarathon PetroleumEnergy$3.5B bought back, $160M issued as pay, FY2025$3.3B
49. 49COFCapital OneFinancial Services$4.1B bought back, $776M issued as pay, FY2025$3.3B
50. 50MARMarriott InternationalConsumer Cyclical$3.3B bought back, $236M issued as pay, FY2025$3.1B