Deere & Company and Axon Enterprise, Inc.: SG&A Spending Patterns Compared

SG&A Spending Patterns: A Tale of Two Companies

In the world of corporate finance, understanding a company's spending patterns can reveal much about its strategic priorities. Over the past decade, Deere & Company and Axon Enterprise, Inc. have showcased contrasting approaches in their Selling, General, and Administrative (SG&A) expenses.

Deere & Company, a titan in the agricultural machinery sector, consistently allocated a significant portion of its budget to SG&A, peaking at approximately $4.5 billion in 2024. This steady increase reflects a robust commitment to maintaining its market leadership. In contrast, Axon Enterprise, Inc., known for its innovative public safety technologies, demonstrated a more dynamic growth in SG&A spending, surging from $54 million in 2014 to nearly $515 million by 2023. This tenfold increase underscores Axon's aggressive expansion and investment in innovation.

While Deere's spending remained relatively stable, Axon's rapid growth trajectory highlights its strategic focus on scaling operations and capturing new markets.