- S&P 500 Q3 2024 buybacks were $226.6 billion, down 4.0% from Q2 2024's
$235.9 billion and up 22.1% from Q3
2023's $185.6 billion
- The 12-month September 2024
expenditure of $918.4 billion was up
16.7% from the prior 12-month expenditure of $787.3 billion
- Consumer Discretionary increased spending by 13.5%, as
Information Technology and Health Care reduced their spending by
6.4% and 10.2% respectively
- The net buyback 1% tax reduced Q3 2024 operating earnings by
0.42% and As Reported GAAP by 0.48%
NEW
YORK, Dec. 13, 2024 /PRNewswire/ -- S&P
Dow Jones Indices (S&P DJI) today announced the preliminary
S&P 500® stock buybacks or share repurchases data
for Q3 2024.
Historical data on S&P 500 buybacks is available at
www.spdji.com/indices/equity/sp-500.
Key Takeaways:
- Q3 2024 share repurchases were $226.6
billion, down 4.0% from Q2 2024's $235.9 billion expenditure, and up 22.1% from Q3
2023's $185.6 billion.
- For the 12-months ending September
2024, buybacks were $918.4
billion, up from $787.3
billion for the prior 12-month September 2023 period; the 12-month peak was in
June 2022 with $1.005 trillion.
- 332 companies reported buybacks of at least $5 million for the quarter, up from 324 in Q2
2024 and up from 281 in Q3 2023; 381 companies did some buybacks
for the quarter, up from 373 in Q2 2024 and up from 362 in Q3 2023;
425 companies did some buybacks in the last 12-month period, up
from 420 in the prior 12-month period.
- Buybacks remained top heavy, as concentration increased,
with the top 20 S&P 500 companies accounting for 53.2% of Q3
2024 buybacks, up from Q2 2024's 52.3%, and above the
historical average of 47.6% and the pre-COVID historical average of
44.5%.
- 13.7% of companies reduced share counts used for earnings
per share (EPS) by at least 4% year-over-year, up from Q2
2024's 12.7% and down from Q3 2023's 13.8%; for Q3 2024 174 issues
increased their shares used for EPS over Q2 2024, and 277 reduced
them.
- S&P 500 Q3 2024 dividends increased 2.4% to a record
$157.0 billion from Q2 2024's
$153.4 billion and were 8.9% greater
than the $144.2 billion in Q3
2023.
- For the 12-month's ending September, dividends set a
record $616.2 billion payments,
up 6.2% on an aggregate basis from the prior 12-month September
2023's $580.2 billion.
- Total shareholders return of buybacks and dividends
decreased to $383.6 billion in Q3
2024, down 1.5% from Q2 2024's $389.3
billion and up 16.3% from Q3 2023's $329.8 billion.
- Total shareholder returns for the 12-months ending
September 2024 increased 12.2% to
$1.535 trillion from the prior
12-month periods $1.367
trillion.
- The 1% tax on net buybacks, which started in 2023, reduced
the Q3 2024 S&P 500 operating earnings by 0.42%, down from Q2
2024's 0.45%, as it reduced As Reported GAAP earnings by 0.48%,
down from the prior 0.49%. For the 12-month September 2024 period, the 1% tax on net buybacks
reduced earnings by 0.45% for operating and 0.50% for As
Reported.
"After declining in 2023, companies have increased their buyback
expenditure, but have remained in a dollar range for the first
three quarters of 2024. This was amidst significant stock price
increases with the result being fewer shares purchased and less of
an upward EPS push. Additionally, with big-cap stocks up nearly 30%
year-to-date, it is difficult for companies to keep up with that
much of an increase in their buyback budget, especially with
two-thirds paying dividends in addition to buybacks. However,
Q4 2024 buybacks appear to have increased so far, even as stock
prices have moved up, as companies' stock-up on issues needed for
employee options, and ahead of any uncertainty over 2025 buyback
restrictions or an increase in the 1% buyback tax," said
Howard Silverblatt, Senior Index
Analyst at S&P Dow Jones Indices.
1% Buyback Excise Tax:
The 1% excise tax on net buybacks reduced Q3 2024 operating
earnings by 0.42%, down from Q2 2024's 0.45% and up from the 0.39%
for Q3 2023. The 12-month impact was 0.45%, up from the 12-month
September 2023's 41%. The tax on As Reported GAAP earnings impact
decreased to 0.48%, down from Q2 2024's 0.49% and up from Q3 2023's
0.42%. The 12-month impact was 0.50%, up from September 2023's
0.46%.
Silverblatt added: "The 1% tax remains a manageable expense and
has not impacted overall buybacks at this point. However, given the
initial 1% buyback tax had bipartisan support and remains an
attractive cash generator, there is an expectation that some
increase or potential change to the type of buybacks that are taxed
will remain on the table as the U.S. budget negotiations start.
Given the current corporate sensitivity to costs, a buyback tax
rate of 2% to 2.5% was seen as impacting both buybacks and the EPS
impact of share-count-reduction, which is already at a lower level
due to higher stock prices. Under an increased tax, some of the
expenditures may shift from buybacks to dividends. However, any
shift would not be on a-dollar-for-dollar basis as dividends remain
a long-term pure cash-flow item which must be incorporated into
corporate budgets."
Q3 2024 GICS® Sector Analysis:
Information Technology maintained its lead in buybacks,
even as it decreased its expenditure by 6.4%, representing 28.2% of
all buybacks for the quarter. Q3 2024 expenditures declined to
$64.0 billion, compared to Q2 2024's
$68.4 billion, and was up 31.8% from
Q3 2023's $48.6 billion expenditure.
For the 12-months ending September
2024, the sector increased its expenditure 23.4% to
$249.5 billion, representing 26.8% of
all S&P 500 buybacks, compared to $199.3
billion spent in the prior 12-month period ending
September 2023, which represented
25.3% of all buybacks.
Financials decreased buybacks by 2.7% for Q3 2024 as it
collectively spent $44.1 billion on
buybacks, accounting for 19.4% of all S&P 500 buybacks. This
was down for the quarter compared to Q2 2024's expenditure of
$45.3 billion, and up 50.3% from Q3
2023's $29.3 billion. For the
12-month September 2024 period,
Financials spent $161.8 billion, up
from $131.4 billion for the prior
12-month period.
Healthcare decreased its Q3 2024 expenditure by 10.2%,
spending $16.9 billion, compared to
the Q2 2024 expenditure of $18.8
billion, and was up 13.0% from the Q3 2023 $15.0 billion expenditure. For the 12-months
ending September 2024, the sector
spent $74.4 billion, down from the
prior period's expenditure of $76.0
billion.
Consumer Discretionary increased their spending in Q3
2024 by 13.5% to $20.6 billion, up
from the prior $18.2 billion and up
9.5% from the Q3 2023 expenditure of $18.8
billion.
Energy increased their spending by 9.9% to $18.3 billion from Q2 2024's $16.7 billion and was 12.8% higher than the
$16.2 billion spent in Q3 2023.
Issues:
The five issues with the highest total buybacks for Q3 2024
were:
- Apple (AAPL): continued to dominate the issue level
buybacks, as it again spent the most of any issue with its Q3 2024
expenditure, ranking as the 4th highest in S&P 500
history. For the quarter, the company spent $25.4 billion, down from Q2 2024's $28.8 billion (which is the largest in index
history). Apple holds 18 of the top 20 record quarters (Meta
Platforms holds #16 and QUALCOMM holds #18). For the 12-months
ending September 2024, Apple spent
$100.4 billion on buybacks, up from
the prior 12-month period's $83.0
billion. Over the five-year period, Apple has spent
$448 billion, and $695 billion over the ten-year period.
- Alphabet (GOOG/L): $15.3
billion for Q3 2024, down from $15.7
billion in Q2 2024; the 12-month expenditure was
$62.9 billion versus the prior
expenditure of $60.7 billion.
- NVIDA (NVDA): $12.7
billion for Q3 2024, up from $8.8
billion in Q2 2024; the 12-month expenditure was
$34.5 billion versus $10.4 billion.
- Meta Platforms (META): $12.4
billion for Q3 2024, up from $9.5
billion in Q2 2024; the 12-month expenditure was
$48.2 billion versus $26.1 billion.
- JP Morgan (JPM): $6.4
billion for Q3 2024, up from $5.3
billion in Q2 2024; the 12-month expenditure was
$16.8 billion versus $7.5 billion.
For more information about S&P Dow Jones Indices, please
visit https://www.spglobal.com/spdji/en/.
|
S&P Dow Jones
Indices
|
|
|
|
S&P 500 proforma
net buyback tax impact
|
|
|
|
|
|
TAX
|
TAX %
OF
|
TAX %
OF
|
|
$ BILLIONS
|
OPERATING
|
AS REPORTED
|
|
12 Mo
Sep,'24
|
$8.50
|
0.45 %
|
0.50 %
|
|
12 Mo
Sep,'23
|
$7.16
|
0.41 %
|
0.46 %
|
|
9/30/2024
|
$2.11
|
0.42 %
|
0.48 %
|
|
6/30/2024
|
$2.20
|
0.45 %
|
0.49 %
|
|
3/31/2024
|
$2.18
|
0.47 %
|
0.54 %
|
|
2023
|
$7.24
|
0.40 %
|
0.45 %
|
|
2022
proforma
|
$8.47
|
0.51 %
|
0.58 %
|
|
2021
proforma
|
$7.93
|
0.45 %
|
0.47 %
|
|
S&P Dow Jones
Indices
|
|
|
|
|
|
|
|
|
S&P 500, $ U.S.
BILLIONS
|
|
(preliminary in
bold)
|
|
|
|
|
|
|
PERIOD
|
MARKET
|
OPERATING
|
AS
REPORTED
|
|
|
|
|
DIVIDEND
&
|
|
VALUE
|
EARNINGS
|
EARNINGS
|
DIVIDENDS
|
BUYBACKS
|
DIVIDEND
|
BUYBACK
|
BUYBACK
|
|
$
BILLIONS
|
$
BILLIONS
|
$
BILLIONS
|
$
BILLIONS
|
$
BILLIONS
|
YIELD
|
YIELD
|
YIELD
|
|
12 Mo Sep,'24
Prelim.
|
$48,701
|
$1,902.69
|
$1,685.91
|
$616.16
|
$918.40
|
1.27 %
|
1.89 %
|
3.15 %
|
|
12 Mo
Sep,'23
|
$35,938
|
$1,756.47
|
$1,541.07
|
$580.21
|
$787.26
|
1.61 %
|
2.19 %
|
3.81 %
|
|
2023
|
$40,039
|
$1,787.36
|
$1,610.73
|
$588.23
|
$795.16
|
1.47 %
|
1.99 %
|
3.46 %
|
|
2022
|
$32,133
|
$1,656.66
|
$1,453.43
|
$564.57
|
$922.68
|
1.76 %
|
2.87 %
|
4.63 %
|
|
2021
|
$40,356
|
$1,762.75
|
$1,675.22
|
$511.23
|
$881.72
|
1.27 %
|
2.18 %
|
3.45 %
|
|
2020
|
$31,659
|
$1,019.04
|
$784.21
|
$483.18
|
$519.76
|
1.53 %
|
1.64 %
|
3.17 %
|
|
2019
|
$26,760
|
$1,304.76
|
$1,158.22
|
$485.48
|
$728.74
|
1.81 %
|
2.72 %
|
4.54 %
|
|
2018
|
$21,027
|
$1,281.66
|
$1,119.43
|
$456.31
|
$806.41
|
2.17 %
|
3.84 %
|
6.01 %
|
|
|
|
|
|
|
|
|
|
|
9/30/2024
Prelim
|
$48,701
|
$502.01
|
$441.41
|
$157.04
|
$226.56
|
1.27 %
|
1.89 %
|
3.15 %
|
|
6/28/2024
|
$45,843
|
$489.95
|
$445.96
|
$153.41
|
$235.93
|
1.32 %
|
1.91 %
|
3.23 %
|
|
3/28/2024
|
$44,078
|
$458.28
|
$397.38
|
$151.61
|
$236.82
|
1.35 %
|
1.85 %
|
3.20 %
|
|
12/31/2023
|
$40,039
|
$452.44
|
$401.16
|
$154.10
|
$219.09
|
1.47 %
|
1.99 %
|
3.46 %
|
|
9/30/2023
|
$35,938
|
$437.90
|
$399.35
|
$144.18
|
$185.62
|
1.61 %
|
2.19 %
|
3.81 %
|
|
6/30/2023
|
$37,162
|
$457.93
|
$405.66
|
$143.20
|
$174.92
|
1.55 %
|
2.19 %
|
3.74 %
|
|
3/31/2023
|
$34,342
|
$439.08
|
$404.57
|
$146.76
|
$215.53
|
1.67 %
|
2.50 %
|
4.17 %
|
|
12/31/2022
|
$32,133
|
$421.55
|
$331.50
|
$146.07
|
$211.19
|
1.76 %
|
2.87 %
|
4.63 %
|
|
9/30/2022
|
$30,119
|
$422.94
|
$373.04
|
$140.34
|
$210.84
|
1.83 %
|
3.26 %
|
5.09 %
|
|
6/30/2022
|
$31,903
|
$395.02
|
$360.21
|
$140.56
|
$219.64
|
1.70 %
|
3.15 %
|
4.85 %
|
|
3/31/2022
|
$38,288
|
$417.16
|
$388.68
|
$137.60
|
$281.01
|
1.37 %
|
2.57 %
|
3.94 %
|
|
12/31/2021
|
$40,356
|
$480.35
|
$456.72
|
$133.90
|
$270.10
|
1.27 %
|
2.18 %
|
3.45 %
|
|
9/30/2021
|
$36,538
|
$441.26
|
$420.64
|
$130.04
|
$234.64
|
1.37 %
|
2.03 %
|
3.40 %
|
|
S&P Dow Jones
Indices
|
|
|
|
|
|
|
|
|
S&P 500 SECTOR
BUYBACKS
|
|
|
|
|
|
|
|
|
SECTOR $
MILLIONS
|
Q3,'24
|
Q2,'24
|
Q3,'23
|
12MoSep,'24
|
12MoSep,'23
|
5-YEARS
|
10-YEARS
|
|
Consumer
Discretionary
|
$20,605
|
$18,156
|
$18,809
|
$83,536
|
$73,592
|
$365,235
|
$791,744
|
|
Consumer
Staples
|
$7,734
|
$10,466
|
$5,014
|
$39,240
|
$22,595
|
$161,100
|
$369,936
|
|
Energy
|
$18,313
|
$16,669
|
$16,233
|
$65,200
|
$73,623
|
$204,808
|
$293,020
|
|
Financials
|
$44,054
|
$45,286
|
$29,303
|
$161,844
|
$131,433
|
$713,734
|
$1,334,993
|
|
Healthcare
|
$16,906
|
$18,825
|
$14,960
|
$74,441
|
$75,956
|
$379,165
|
$789,673
|
|
Industrials
|
$15,852
|
$16,829
|
$14,286
|
$76,647
|
$63,513
|
$305,574
|
$659,760
|
|
Information
Technology
|
$63,981
|
$68,356
|
$48,554
|
$245,911
|
$199,264
|
$1,163,809
|
$2,035,428
|
|
Materials
|
$4,454
|
$5,192
|
$5,278
|
$17,849
|
$18,753
|
$92,855
|
$154,619
|
|
Real
Estate
|
$204
|
$728
|
$853
|
$1,795
|
$2,178
|
$11,644
|
$21,673
|
|
Communication
Services
|
$33,818
|
$34,478
|
$32,020
|
$148,137
|
$124,343
|
$589,004
|
$641,074
|
|
Utilities
|
$636
|
$940
|
$306
|
$3,797
|
$2,010
|
$13,284
|
$22,427
|
|
TOTAL
|
$226,557
|
$235,926
|
$185,615
|
$918,398
|
$787,260
|
$4,000,212
|
$7,114,347
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECTOR BUYBACK
MAKEUP %
|
Q3,'24
|
Q2,'24
|
Q3,'23
|
12MoSep,'24
|
12MoSep,'23
|
5-YEARS
|
10-YEARS
|
|
Consumer
Discretionary
|
9.09 %
|
7.70 %
|
10.13 %
|
9.10 %
|
9.35 %
|
9.13 %
|
11.13 %
|
|
Consumer
Staples
|
3.41 %
|
4.44 %
|
2.70 %
|
4.27 %
|
2.87 %
|
4.03 %
|
5.20 %
|
|
Energy
|
8.08 %
|
7.07 %
|
8.75 %
|
7.10 %
|
9.35 %
|
5.12 %
|
4.12 %
|
|
Financials
|
19.44 %
|
19.20 %
|
15.79 %
|
17.62 %
|
16.69 %
|
17.84 %
|
18.76 %
|
|
Healthcare
|
7.46 %
|
7.98 %
|
8.06 %
|
8.11 %
|
9.65 %
|
9.48 %
|
11.10 %
|
|
Industrials
|
7.00 %
|
7.13 %
|
7.70 %
|
8.35 %
|
8.07 %
|
7.64 %
|
9.27 %
|
|
Information
Technology
|
28.24 %
|
28.97 %
|
26.16 %
|
26.78 %
|
25.31 %
|
29.09 %
|
28.61 %
|
|
Materials
|
1.97 %
|
2.20 %
|
2.84 %
|
1.94 %
|
2.38 %
|
2.32 %
|
2.17 %
|
|
Real
Estate
|
0.09 %
|
0.31 %
|
0.46 %
|
0.20 %
|
0.28 %
|
0.29 %
|
0.30 %
|
|
Communication
Services
|
14.93 %
|
14.61 %
|
17.25 %
|
16.13 %
|
15.79 %
|
14.72 %
|
9.01 %
|
|
Utilities
|
0.28 %
|
0.40 %
|
0.16 %
|
0.41 %
|
0.26 %
|
0.33 %
|
0.32 %
|
|
TOTAL
|
100.00 %
|
100.00 %
|
100.00 %
|
100.00 %
|
100.00 %
|
100.00 %
|
100.00 %
|
|
S&P Dow Jones
Indices
|
|
|
|
|
|
|
|
|
|
|
S&P 500 20
LARGEST Q3 2024 BUYBACKS, $ MILLIONS
|
|
|
|
|
|
|
|
|
Company
|
Ticker
|
Sector
|
Q3
2024
|
Q2
2024
|
Q3
2023
|
12-Months
|
12-Months
|
5-Year
|
10-Year
|
Indicated
|
|
|
|
Buybacks
|
Buybacks
|
Buybacks
|
Sep,'24
|
Sep,'23
|
Buybacks
|
Buybacks
|
Dividend
|
|
|
|
$
Million
|
$
Million
|
$
Million
|
$
Million
|
$
Million
|
$
Million
|
$
Million
|
$
Million
|
|
Apple
|
AAPL
|
Information
Technology
|
$25,361
|
$28,810
|
$21,315
|
$100,390
|
$82,981
|
$447,515
|
$695,312
|
$15,204
|
|
Alphabet
|
GOOGL
|
Communication
Services
|
$15,291
|
$15,684
|
$15,787
|
$62,862
|
$60,720
|
$254,992
|
$286,684
|
$4,687
|
|
NVIDIA
|
NVDA
|
Information
Technology
|
$12,676
|
$8,795
|
$4,570
|
$34,463
|
$10,373
|
$57,727
|
$63,828
|
$984
|
|
Meta
Platforms
|
META
|
Communication
Services
|
$12,361
|
$9,507
|
$5,657
|
$48,203
|
$26,141
|
$160,186
|
$186,187
|
$4,369
|
|
JPMorgan
Chase
|
JPM
|
Financials
|
$6,361
|
$5,336
|
$2,382
|
$16,804
|
$7,549
|
$59,191
|
$128,042
|
$14,226
|
|
Visa
|
V
|
Financials
|
$5,867
|
$4,535
|
$3,756
|
$16,921
|
$12,231
|
$57,955
|
$91,193
|
$3,942
|
|
Exxon Mobil
|
XOM
|
Energy
|
$5,512
|
$5,326
|
$4,412
|
$18,505
|
$17,767
|
$47,485
|
$57,614
|
$17,594
|
|
Chevron
|
CVX
|
Energy
|
$4,714
|
$2,930
|
$3,334
|
$13,932
|
$14,698
|
$37,297
|
$41,992
|
$11,090
|
|
Microsoft
|
MSFT
|
Information
Technology
|
$4,107
|
$4,210
|
$4,831
|
$16,530
|
$21,503
|
$121,743
|
$196,231
|
$24,678
|
|
Bank of
America
|
BAC
|
Financials
|
$3,534
|
$3,535
|
$1,000
|
$10,380
|
$4,763
|
$59,117
|
$119,907
|
$7,021
|
|
Wells Fargo
|
WFC
|
Financials
|
$3,435
|
$6,012
|
$1,480
|
$17,798
|
$9,507
|
$59,433
|
$128,399
|
$5,446
|
|
Aptiv
|
APTV
|
Consumer
Discretionary
|
$3,076
|
$431
|
$0
|
$4,429
|
$129
|
$4,759
|
$8,387
|
$0
|
|
Mastercard
|
MA
|
Financials
|
$2,935
|
$2,643
|
$1,908
|
$9,580
|
$9,699
|
$37,409
|
$59,130
|
$2,178
|
|
Marathon
Petroleum
|
MPC
|
Energy
|
$2,701
|
$2,896
|
$2,819
|
$10,320
|
$9,067
|
$30,860
|
$39,248
|
$1,218
|
|
Adobe
|
ADBE
|
Information
Technology
|
$2,668
|
$2,635
|
$1,120
|
$8,727
|
$5,604
|
$28,760
|
$37,203
|
$0
|
|
Cisco
Systems
|
CSCO
|
Information
Technology
|
$2,168
|
$2,242
|
$1,453
|
$7,496
|
$5,679
|
$28,141
|
$81,114
|
$6,446
|
|
Comcast
|
CMCSA
|
Communication
Services
|
$1,990
|
$2,266
|
$3,543
|
$10,441
|
$11,285
|
$36,817
|
$62,107
|
$4,790
|
|
Procter &
Gamble
|
PG
|
Consumer
Staples
|
$1,939
|
$1,516
|
$1,500
|
$5,445
|
$4,853
|
$39,715
|
$63,805
|
$9,487
|
|
American
Express
|
AXP
|
Financials
|
$1,935
|
$1,762
|
$1,400
|
$5,890
|
$3,389
|
$22,044
|
$41,754
|
$1,573
|
|
PayPal
Holdings
|
PYPL
|
Financials
|
$1,817
|
$1,564
|
$1,459
|
$5,688
|
$5,645
|
$21,744
|
$29,565
|
$0
|
|
Top
20
|
|
|
$120,448
|
$112,635
|
$83,726
|
$424,804
|
$323,583
|
$1,612,890
|
$2,417,702
|
$134,933
|
|
S&P
500
|
|
|
$226,557
|
$235,926
|
$185,615
|
$918,398
|
$787,260
|
$4,000,212
|
$7,114,347
|
$631,944
|
|
Top 20 % of S&P
500
|
|
|
53.16 %
|
47.74 %
|
45.11 %
|
46.25 %
|
41.10 %
|
40.32 %
|
33.98 %
|
21.35 %
|
|
Gross
values are not adjusted for float
|
|
|
|
|
|
|
|
|
|
S&P Dow Jones
Indices
|
|
|
|
|
|
S&P 500 Q3 2024
Buyback Report
|
|
|
|
|
|
|
|
|
|
SECTOR
|
DIVIDEND
|
BUYBACK
|
COMBINED
|
|
|
YIELD
|
YIELD
|
YIELD
|
|
|
Consumer
Discretionary
|
0.62 %
|
1.44 %
|
2.06 %
|
|
|
Consumer
Staples
|
2.42 %
|
1.42 %
|
3.84 %
|
|
|
Energy
|
3.23 %
|
3.83 %
|
7.06 %
|
|
|
Financials
|
1.42 %
|
2.30 %
|
3.72 %
|
|
|
HealthCare
|
1.70 %
|
1.40 %
|
3.10 %
|
|
|
Industrials
|
1.31 %
|
1.77 %
|
3.08 %
|
|
|
Information
Technology
|
0.59 %
|
1.51 %
|
2.10 %
|
|
|
Materials
|
1.85 %
|
1.73 %
|
3.58 %
|
|
|
Real
Estate
|
3.24 %
|
0.16 %
|
3.40 %
|
|
|
Communications
Services
|
0.99 %
|
3.84 %
|
4.83 %
|
|
|
Utilities
|
2.90 %
|
0.35 %
|
3.25 %
|
|
|
S&P
500
|
1.25 %
|
1.82 %
|
3.06 %
|
|
|
Uses full
values (unadjusted for float)
|
|
|
|
|
Dividends
based on indicated; buybacks based on the last 12-months ending
Q3,'24
|
|
Share Count
Changes
|
|
|
|
(Y/Y diluted shares
used for EPS)
|
>=4%
|
<=-4%
|
|
Q3
2024
|
4.84 %
|
13.71 %
|
|
Q2
2024
|
5.04 %
|
12.70 %
|
|
Q1
2024
|
4.62 %
|
13.25 %
|
|
Q4
2023
|
3.81 %
|
12.63 %
|
|
Q3
2023
|
4.60 %
|
13.80 %
|
|
Q2
2023
|
4.22 %
|
16.27 %
|
|
Q1
2023
|
4.02 %
|
18.47 %
|
|
Q4
2022
|
5.01 %
|
19.44 %
|
|
Q3
2022
|
7.21 %
|
21.24 %
|
|
Q2
2022
|
8.42 %
|
19.84 %
|
|
Q1
2022
|
7.62 %
|
17.64 %
|
|
Q4
2021
|
10.06 %
|
14.89 %
|
|
Q3
2021
|
10.22 %
|
7.41 %
|
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Services:
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