SG&A Efficiency Analysis: Comparing Nordson Corporation and ITT Inc.

SG&A Efficiency: A Tale of Two Corporations

In the competitive landscape of industrial manufacturing, understanding the efficiency of Selling, General, and Administrative (SG&A) expenses is crucial. Over the past decade, Nordson Corporation and ITT Inc. have demonstrated contrasting trends in their SG&A expenditures. From 2014 to 2023, Nordson consistently outpaced ITT, with SG&A expenses peaking at approximately $812 million in 2024, a 40% increase from 2014. In contrast, ITT's expenses fluctuated, peaking in 2014 and then declining by about 33% by 2020, before a slight recovery in 2023. This divergence highlights Nordson's aggressive growth strategy, while ITT's more conservative approach reflects a focus on cost control. The missing data for ITT in 2024 suggests a potential shift or restructuring. As these companies navigate economic challenges, their SG&A strategies will be pivotal in maintaining competitive advantage.