Operational Costs Compared: SG&A Analysis of ASML Holding N.V. and Nokia Oyj

A Decade of Operational Costs: ASML vs. Nokia

In the ever-evolving landscape of technology, operational efficiency is paramount. Over the past decade, ASML Holding N.V. and Nokia Oyj have showcased contrasting trends in their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, ASML's SG&A expenses surged by approximately 250%, reflecting its aggressive expansion and innovation strategies. In contrast, Nokia's expenses remained relatively stable, peaking in 2016 and gradually declining thereafter. This divergence highlights ASML's focus on scaling operations, while Nokia appears to be optimizing its cost structure. By 2023, ASML's expenses reached nearly 40% of Nokia's, a significant increase from just 20% in 2014. This analysis underscores the strategic priorities of these tech giants, offering insights into their operational philosophies and market positioning.