SG&A Efficiency Analysis: Comparing Apple Inc. and Corpay, Inc.

SG&A Efficiency: A Tale of Two Giants

In the ever-evolving landscape of corporate finance, understanding the efficiency of Selling, General, and Administrative (SG&A) expenses is crucial. Over the past decade, Apple Inc. has demonstrated a remarkable increase in SG&A efficiency, with expenses growing from approximately $12 billion in 2014 to over $26 billion in 2024. This represents a growth of over 116%, reflecting Apple's strategic investments in marketing and administration to support its global expansion.

In contrast, Corpay, Inc., a smaller player, has shown a steady yet modest increase in SG&A expenses, from around $280 million in 2014 to nearly $944 million in 2023. This growth of approximately 237% highlights Corpay's efforts to scale its operations. However, data for 2024 is missing, indicating potential reporting delays or strategic shifts.

This analysis underscores the diverse strategies employed by tech giants and emerging companies in managing operational costs.