SG&A Efficiency Analysis: Comparing ServiceNow, Inc. and Fortinet, Inc.

SG&A Efficiency: A Tale of Two Tech Giants

In the ever-evolving tech landscape, ServiceNow, Inc. and Fortinet, Inc. have emerged as leaders, each with a unique approach to managing Selling, General, and Administrative (SG&A) expenses. Over the past decade, ServiceNow has consistently outpaced Fortinet, with SG&A expenses growing from approximately 44% higher in 2014 to nearly 88% higher by 2023. This trend highlights ServiceNow's aggressive investment in growth and market expansion. Meanwhile, Fortinet's more conservative SG&A growth reflects a focus on operational efficiency. Notably, ServiceNow's SG&A expenses reached a peak in 2024, while Fortinet's data for that year remains elusive, suggesting potential strategic shifts. As these companies continue to innovate, their SG&A strategies will be pivotal in shaping their competitive edge. This analysis offers a glimpse into the financial strategies driving two of the tech industry's most dynamic players.