Goldman Sachs projects that the scale of U.S. stock buybacks will achieve year-over-year growth in 2026, but in nominal terms, overall buyback activity will still not have recovered to the levels seen in 2024. Data compiled and released by Goldman Sachs' Neil Sethi indicates that the average daily trading volume associated with corporate buybacks is currently about 1.2 times the level observed so far in 2025, but only approximately 0.6 times the level recorded in 2024. Goldman Sachs estimates that by the end of this week, about 59% of the companies in the S&P 500 index will have entered their stock buyback window, a significant increase from the proportion seen at the end of January. The data further reveals a continuous rise in the number of companies exiting their buyback blackout periods; from mid-January to early February, roughly 40% of companies successfully transitioned into their open window for repurchases. According to Goldman Sachs, historical data shows that February has consistently been one of the most active months for U.S. stock buybacks, ranking as the third most active month throughout the year.