Capital One

Marketing spend by year

Bars: advertising and marketing expense, $B (10-K).

What they told investors

“We expect to increasingly lean into marketing to take advantage of these compelling market opportunities.”Richard Fairbank · 2026 Q1 · transcript

“Fourth quarter marketing will likely be somewhat above recent seasonal patterns.”Quarterly Dividend Increase · 2025 Q3 · transcript

“And so, we absolutely want to nurture this and invest in this.”Quarterly Dividend Increase · 2025 Q3 · transcript

“As always, all of our marketing and origination choices are informed by our continuous monitoring of portfolio trends, market conditions, and consumer and competitor behaviors.”Richard Fairbank · 2025 Q2 · transcript

“But there's a reason they're investing hard because there is a great opportunity at the at the top of the market, and it's not an opportunity that is available widely to, you know, all the credit card companies that requires a lot of sustained investment and brand building and…”Richard Fairbank · 2025 Q2 · transcript

Say vs do

Thin/up. In 8 statements from its leaders in interviews, 0 argued for investing in brand and 0 for cutting; the filed spend went up.

Peers