The Idiot Index
Shareholder Extraction in Materials & Chemicals · FY 2023
22 of 38 companies · highest first- 147.56× buybacks+dividends / R&Dverified
- 215.72× buybacks+dividends / R&Dverified
- 315.16× buybacks+dividends / R&Dverified
- 414.82× buybacks+dividends / R&Dverified
- 513.44× buybacks+dividends / R&Dverified
- 69.2000× buybacks+dividends / R&Dverified
- 75.4516× buybacks+dividends / R&Dverified
- 85.0000× buybacks+dividends / R&Dverified
- 93.9071× buybacks+dividends / R&Dverified
- 103.6183× buybacks+dividends / R&Dverified
Not yet covered (16)
These companies are in the Materials & Chemicals cohort but don't have a Shareholder Extraction computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.
What this measures
Full methodology →Dollars sent to shareholders for every dollar invested in R&D.
- Ratio
- Shareholder Extraction
- Sector
- Materials & Chemicals
- Methodology version
- v1.0.0
Applied to chemicals, industrial gases, mining, metals, and packaging companies. COGS captures raw material extraction, refining, and primary processing — this sector is the "stuff that becomes other stuff" layer of the economy. Markup ratios are cyclical with commodity input costs; sector medians are the right comparison. Shareholder Extraction is informative because materials companies face structural choices between buybacks and reinvestment in capacity.
Whether the company invests in future productive capacity or extracts current value to shareholders. A ratio above 3.0 typically indicates an extraction-dominant capital allocation policy. A ratio below 1.0 indicates the company is investing more in its future than returning to shareholders.
Source data: PaymentsForRepurchaseOfCommonStock, PaymentsOfDividends, ResearchAndDevelopmentExpense (us-gaap) or equivalents in IFRS.