Lobbying spend vs market cap

What 543 US companies traded by members of Congress spent on federal lobbying in 2025, against their size.

Median lobbying per $1M of market cap: tech $12, pharma $55, telecom and media $63, defense $85.

Lobbying is from Lobbying Disclosure Act filings on LDA.gov: what a company reports spending when it files itself, otherwise what outside firms report earning from it. Market cap is the latest SEC share count times a recent close. US-listed companies with a market cap of at least $2B and $100K of lobbying.