Buybacks are controversial but most folks agree that they do increase share price. You don't need to know the "true" intrinsic value of a company (which would r

Buybacks are controversial but most folks agree that they do increase share price. You don't need to know the "true" intrinsic value of a company (which would require a crystal ball) as long as you reduce the number of outstanding shares. EPS increases, future dividends grow, etc. Whether it unfairly benefits large shareholders and those with performance packages, tied to share metrics, is an open question, however.