SG&A Expense Trends: A Tale of Two Giants

In the world of industrial manufacturing, Deere & Company and Stanley Black & Decker, Inc. have long been titans. Over the past decade, their Selling, General, and Administrative (SG&A) expenses have revealed intriguing trends. From 2014 to 2023, Deere & Company saw a steady increase in SG&A expenses, peaking in 2024 with a 37% rise from 2014. In contrast, Stanley Black & Decker's expenses fluctuated, reaching their highest in 2022 before dropping by 16% in 2023. This divergence highlights differing strategic priorities and market responses. Deere's consistent growth suggests a focus on expansion and innovation, while Stanley's variability may reflect adaptive strategies in a volatile market. Notably, data for Stanley Black & Decker in 2024 is missing, leaving room for speculation on their future trajectory. These insights offer a window into the financial strategies of two industry leaders.