Companies that spend more on advertising than on R&D, last fiscal year
Advertising expense above research and development expense in the latest fiscal year. Largest multiple first. 91 companies.
Drawn from 458 US-listed companies, each on its latest fiscal year (FY2025 for 330 companies, FY2026 for 128 companies). Source: SEC EDGAR XBRL company facts. Data as of Nov 5, 2026. Methodology.
| # | Company | Ad spend | Revenue | Ad / revenue | YoY | Ad / R&D | Year ended |
|---|---|---|---|---|---|---|---|
| 1 | Flowers Foods FLO | $93.2M | $5.3B | 1.8% | n/a | 10022x | Jan 3, 2026 |
| 2 | Celsius CELH | $319M | $2.5B | 12.7% | +43.9% | 133x | Dec 31, 2025 |
| 3 | Yum China YUMC | $354M | $11.8B | 3.0% | +2.3% | 44x | Dec 31, 2025 |
| 4 | Somnigroup (Tempur Sealy) SGI | $692M | $7.5B | 9.3% | +47.0% | 21x | Dec 31, 2025 |
| 5 | LendingTree TREE | $771M | $1.1B | 69.0% | +29.3% | 17x | Dec 31, 2025 |
| 6 | EverQuote EVER | $501M | $693M | 72.3% | +45.1% | 16x | Dec 31, 2025 |
| 7 | Johnson & Johnson JNJ | $1.6B | $94.2B | 1.7% | +166.7% | 15x | Dec 28, 2025 |
| 8 | Trex TREX | $61M | $1.2B | 5.2% | +14.0% | 15x | Dec 31, 2025 |
| 9 | La-Z-Boy LZB | $148M | $2.1B | 7.0% | -0.9% | 14x | Apr 25, 2026 |
| 10 | Crocs CROX | $394M | $4B | 9.7% | +4.3% | 13x | Dec 31, 2025 |
| 11 | Coty COTY | $1.6B | $5.8B | 27.7% | +2.1% | 13x | Jun 30, 2026 |
| 12 | Gap GAP | $778M | $15.4B | 5.1% | -0.3% | 13x | Jan 31, 2026 |
| 13 | EchoStar ECHO | $775M | $15B | 5.2% | +4.0% | 11x | Dec 31, 2025 |
| 14 | eHealth EHTH | $154M | $554M | 27.7% | -6.5% | 11x | Dec 31, 2025 |
| 15 | CTW CTW | $41M | $82.5M | 49.7% | -21.7% | 11x | Jul 31, 2026 |
| 16 | Lovesac LOVE | $75.1M | $697M | 10.8% | -3.0% | 11x | Feb 1, 2026 |
| 17 | Simply Good Foods SMPL | $62M | $1.4B | 4.6% | -18.5% | 11x | Aug 29, 2026 |
| 18 | Phillips 66 PSX | $62M | $132B | 0.05% | +21.6% | 10x | Dec 31, 2025 |
| 19 | Hershey HSY | $612M | $11.7B | 5.2% | +2.0% | 9.9x | Dec 31, 2025 |
| 20 | LightInTheBox LITB | $96.8M | $224M | 43.2% | -7.2% | 9.4x | Dec 31, 2025 |
| 21 | Keurig Dr Pepper KDP | $629M | $16.6B | 3.8% | -4.3% | 9.0x | Dec 31, 2025 |
| 22 | Colgate-Palmolive CL | $2.7B | $20.4B | 13.3% | -0.6% | 7.4x | Dec 31, 2025 |
| 23 | NerdWallet NRDS | $486M | $837M | 58.1% | +31.4% | 7.3x | Dec 31, 2025 |
| 24 | Deckers Outdoor DECK | $496M | $5.5B | 9.1% | +14.7% | 7.2x | Mar 31, 2026 |
| 25 | Cimpress CMPR | $468M | $3.7B | 12.5% | +4.8% | 6.8x | Jun 30, 2026 |
| 26 | Kraft Heinz KHC | $1.1B | $24.9B | 4.3% | +4.1% | 6.4x | Dec 27, 2025 |
| 27 | Clorox CLX | $770M | $7.1B | 10.8% | -7.5% | 6.4x | Jun 30, 2025 |
| 28 | Purple Innovation PRPL | $56.1M | $469M | 12.0% | -13.9% | 5.8x | Dec 31, 2025 |
| 29 | Yeti YETI | $145M | $1.9B | 7.8% | n/a | 5.8x | Jan 3, 2026 |
| 30 | Church & Dwight CHD | $709M | $6.2B | 11.4% | +1.5% | 4.9x | Dec 31, 2025 |
| 31 | Procter & Gamble PG | $10.2B | $87B | 11.7% | +10.9% | 4.9x | Jun 30, 2026 |
| 32 | Kenvue KVUE | $1.8B | $15.1B | 12.1% | -1.8% | 4.8x | Dec 28, 2025 |
| 33 | Bellring Brands BRBR | $75.2M | $2.3B | 3.2% | +22.7% | 4.7x | Sep 30, 2025 |
| 34 | Post Holdings POST | $148M | $8.2B | 1.8% | -21.4% | 4.6x | Sep 30, 2025 |
| 35 | PDD Holdings (Temu) PDD | $10.7B | $61.8B | 17.4% | +14.2% | 4.5x | Dec 31, 2025 |
| 36 | Pilgrims Pride PPC | $80.3M | $18.5B | 0.4% | +14.6% | 4.5x | Dec 28, 2025 |
| 37 | Conagra Brands CAG | $279M | $11.3B | 2.5% | +6.2% | 4.5x | May 31, 2026 |
| 38 | Scotts Miracle-Gro SMG | $152M | $3.4B | 4.5% | +8.0% | 4.4x | Sep 30, 2025 |
| 39 | Acco Brands ACCO | $92.5M | $1.5B | 6.1% | -6.8% | 4.2x | Dec 31, 2025 |
| 40 | Hormel Foods HRL | $148M | $12.1B | 1.2% | -9.4% | 4.2x | Oct 26, 2025 |
| 41 | Stride LRN | $92.1M | $2.5B | 3.7% | -11.1% | 4.2x | Jun 30, 2026 |
| 42 | Mondelez MDLZ | $1.7B | $38.5B | 4.3% | -21.6% | 4.1x | Dec 31, 2025 |
| 43 | PepsiCo PEP | $3.4B | $93.9B | 3.6% | -12.8% | 4.1x | Dec 27, 2025 |
| 44 | Campbell's CPB | $387M | $9.7B | 4.0% | -3.2% | 3.9x | Aug 2, 2026 |
| 45 | Webull BULL | $136M | $571M | 23.8% | -2.0% | 3.8x | Dec 31, 2025 |
| 46 | Angi ANGI | $334M | $1B | 32.4% | +0.2% | 3.8x | Dec 31, 2025 |
| 47 | Spectrum Brands SPB | $87.7M | $2.8B | 3.1% | -4.4% | 3.8x | Sep 30, 2025 |
| 48 | JD.com JD | $12B | $187B | 6.4% | +82.7% | 3.8x | Dec 31, 2025 |
| 49 | Newell Brands NWL | $429M | $7.2B | 6.0% | +2.9% | 3.8x | Dec 31, 2025 |
| 50 | Universe Pharmaceuticals UPC | $2.5B | $17.9B | 14.1% | -50.9% | 3.8x | Sep 30, 2025 |
| 51 | General Mills GIS | $874M | $18.4B | 4.7% | +3.1% | 3.4x | May 31, 2026 |
| 52 | Energizer ENR | $110M | $3B | 3.7% | +6.8% | 3.4x | Sep 30, 2025 |
| 53 | Kimberly-Clark KMB | $1B | $16.4B | 6.2% | -9.1% | 3.1x | Dec 31, 2025 |
| 54 | James Hardie Industries JHX | $152M | $4.8B | 3.1% | +52.6% | 2.5x | Mar 31, 2026 |
| 55 | Helen of Troy HELE | $133M | $1.8B | 7.4% | -1.7% | 2.5x | Feb 28, 2026 |
| 56 | Mattel MAT | $522M | $5.3B | 9.8% | +2.9% | 2.3x | Dec 31, 2025 |
| 57 | Edgewell Personal Care EPC | $126M | $2.2B | 5.7% | -0.6% | 2.2x | Sep 30, 2025 |
| 58 | McCormick MKC | $225M | $6.8B | 3.3% | +2.9% | 2.1x | Nov 30, 2025 |
| 59 | Flutter (FanDuel) FLUT | $2.1B | $16.4B | 12.5% | +4.4% | 2.1x | Dec 31, 2025 |
| 60 | Lemonade LMND | $187M | $738M | 25.4% | +54.2% | 2.0x | Dec 31, 2025 |
| 61 | Thor Industries THO | $81.8M | $9.6B | 0.9% | +4.4% | 2.0x | Jul 31, 2026 |
| 62 | Teladoc Health TDOC | $546M | $2.5B | 21.6% | -8.2% | 2.0x | Dec 31, 2025 |
| 63 | Ziff Davis ZD | $119M | $1.5B | 8.2% | +4.0% | 1.9x | Dec 31, 2025 |
| 64 | Tarsus Pharmaceuticals TARS | $121M | $451M | 26.9% | +306.7% | 1.9x | Dec 31, 2025 |
| 65 | Phathom Pharmaceuticals PHAT | $61.3M | $175M | 35.0% | n/a | 1.9x | Dec 31, 2025 |
| 66 | Philip Morris International PM | $1.4B | $40.6B | 3.3% | +26.8% | 1.8x | Dec 31, 2025 |
| 67 | Playtika PLTK | $761M | $2.8B | 27.6% | +34.9% | 1.8x | Dec 31, 2025 |
| 68 | Etsy ETSY | $791M | $2.9B | 27.4% | +8.8% | 1.8x | Dec 31, 2025 |
| 69 | SharkNinja SN | $633M | $6.4B | 9.9% | +8.1% | 1.7x | Dec 31, 2025 |
| 70 | GoodRx GDRX | $203M | $797M | 25.5% | -3.8% | 1.7x | Dec 31, 2025 |
| 71 | People Inc. PPLI | $328M | $2.4B | 13.7% | +3.3% | 1.7x | Dec 31, 2025 |
| 72 | ThredUp TDUP | $51.1M | $311M | 16.4% | +23.1% | 1.6x | Dec 31, 2025 |
| 73 | iQIYI IQ | $375M | $3.9B | 9.6% | +13.0% | 1.6x | Dec 31, 2025 |
| 74 | Fiverr International FVRR | $132M | $431M | 30.6% | +8.2% | 1.5x | Dec 31, 2025 |
| 75 | Gen Digital (Norton) GEN | $584M | $5B | 11.7% | +32.4% | 1.4x | Apr 3, 2026 |
| 76 | Perrigo PRGO | $133M | $4.3B | 3.1% | -1.2% | 1.4x | Dec 31, 2025 |
| 77 | Bausch & Lomb BLCO | $495M | $5.1B | 9.7% | -6.3% | 1.3x | Dec 31, 2025 |
| 78 | CarGurus CARG | $183M | $907M | 20.2% | +13.9% | 1.3x | Dec 31, 2025 |
| 79 | Logitech LOGI | $411M | $4.8B | 8.5% | +15.7% | 1.3x | Mar 31, 2026 |
| 80 | Callaway Golf CALY | $84.8M | $2.1B | 4.1% | -4.5% | 1.3x | Dec 31, 2025 |
| 81 | Supernus INDV | $124M | $1.2B | 10.0% | +82.4% | 1.3x | Dec 31, 2025 |
| 82 | Match Group MTCH | $550M | $3.5B | 15.8% | +0.7% | 1.2x | Dec 31, 2025 |
| 83 | Bausch Health Companies BHC | $766M | $10.3B | 7.5% | -2.5% | 1.2x | Dec 31, 2025 |
| 84 | Kyndryl KD | $69M | $15.1B | 0.5% | -16.9% | 1.2x | Mar 31, 2026 |
| 85 | Conmed CNMD | $67.3M | $1.4B | 4.9% | +2.9% | 1.2x | Dec 31, 2025 |
| 86 | Reynolds Consumer Products REYN | $55M | $3.7B | 1.5% | -29.5% | 1.1x | Dec 31, 2025 |
| 87 | DoorDash DASH | $1.6B | $13.7B | 11.7% | +23.1% | 1.1x | Dec 31, 2025 |
| 88 | Inspire Medical Systems INSP | $115M | $912M | 12.6% | +21.1% | 1.1x | Dec 31, 2025 |
| 89 | A. O. Smith AOS | $101M | $3.8B | 2.6% | +0.8% | 1.1x | Dec 31, 2025 |
| 90 | Weibo WB | $338M | $1.8B | 19.2% | +5.7% | 1.0x | Dec 31, 2025 |
| 91 | ZipRecruiter ZIP | $125M | $449M | 27.9% | +27.7% | 1.0x | Dec 31, 2025 |
Other lists
Largest ad spenders · Biggest increases · Biggest cuts · Highest ad-to-revenue · Lowest ad-to-revenue · Up 5+ years in a row · New $50M spenders · Ads above operating profit