A Tale of Two Giants: SG&A Expenses in Logistics

In the ever-evolving logistics industry, operational efficiency is paramount. This analysis compares the Selling, General, and Administrative (SG&A) expenses of two major players: Expeditors International of Washington, Inc. and ZTO Express (Cayman) Inc., from 2014 to 2023.

Expeditors International: A Steady Course

Expeditors International has maintained a relatively stable SG&A expense trend over the years, with a slight dip in 2020. Their expenses peaked in 2018, reaching approximately 45 million, before dropping to around 28 million by 2023. This reflects a strategic focus on cost management, crucial for maintaining competitive advantage.

ZTO Express: Rapid Growth

In contrast, ZTO Express has seen a dramatic increase in SG&A expenses, growing by over 350% from 2014 to 2023. This surge, from 534 million to 2.4 billion, underscores their aggressive expansion strategy in the global logistics market.

Understanding these trends offers valuable insights into the strategic priorities of these industry leaders.