SG&A Spending Patterns: A Tale of Two Giants

In the ever-evolving landscape of global business, understanding the financial strategies of industry leaders is crucial. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of SAP SE and Keysight Technologies, Inc. over the past decade. From 2014 to 2023, SAP SE consistently outspent Keysight, with its SG&A expenses peaking at approximately €11 billion in 2022, a 112% increase from 2014. In contrast, Keysight's SG&A expenses grew steadily, reaching around €1.4 billion in 2023, marking a 76% rise since 2014. This disparity highlights SAP's aggressive investment in administrative and sales functions, possibly reflecting its expansive global operations. Meanwhile, Keysight's more conservative spending suggests a focused approach to cost management. Notably, 2024 data for SAP is missing, leaving room for speculation on its future financial strategies. This comparison offers valuable insights into the strategic priorities of these tech titans.