SG&A Efficiency Analysis: Comparing Johnson & Johnson and Protagonist Therapeutics, Inc.

SG&A Efficiency: A Tale of Two Companies

In the world of corporate finance, Selling, General, and Administrative (SG&A) expenses are a critical measure of operational efficiency. This analysis compares the SG&A expenses of two distinct companies: Johnson & Johnson and Protagonist Therapeutics, Inc., from 2014 to 2023.

Johnson & Johnson: A Steady Giant

Johnson & Johnson, a healthcare behemoth, consistently reported SG&A expenses around $21 billion annually. Despite a slight dip in 2022, their expenses remained relatively stable, reflecting robust operational management.

Protagonist Therapeutics: A Growth Story

In contrast, Protagonist Therapeutics, a smaller biotech firm, saw its SG&A expenses skyrocket by over 1,700% from 2014 to 2023. This surge highlights their aggressive growth strategy and expansion efforts.

This comparison underscores the diverse strategies companies employ in managing operational costs, offering valuable insights into their financial health and strategic priorities.