Cost Insights: Breaking Down ServiceNow, Inc. and Garmin Ltd.'s Expenses

Cost Insights: A Comparative Analysis of ServiceNow, Inc. and Garmin Ltd.

In the ever-evolving landscape of technology and consumer electronics, understanding cost structures is pivotal. Over the past decade, ServiceNow, Inc. and Garmin Ltd. have showcased distinct trajectories in their cost of revenue. From 2014 to 2023, Garmin Ltd. experienced a steady increase in costs, peaking at approximately $2.2 billion in 2023, marking a 75% rise from 2014. Meanwhile, ServiceNow, Inc. demonstrated a more dynamic growth, with costs surging by over 670% from 2014 to 2023, reaching nearly $1.9 billion. This stark contrast highlights ServiceNow's rapid expansion in the software industry, while Garmin's growth reflects its stable presence in the consumer electronics market. Notably, 2024 data for Garmin is missing, indicating potential shifts or reporting delays. These insights offer a window into the strategic financial maneuvers of two industry giants.