ZTO Express (Cayman) Inc. or Clean Harbors, Inc.: Who Manages SG&A Costs Better?

Who Manages SG&A Costs Better: ZTO Express or Clean Harbors?

In the competitive landscape of logistics and environmental services, managing Selling, General, and Administrative (SG&A) expenses is crucial for profitability. Over the past decade, ZTO Express (Cayman) Inc. and Clean Harbors, Inc. have shown distinct trends in their SG&A management. From 2014 to 2023, ZTO Express's SG&A expenses surged by approximately 354%, reflecting its rapid expansion and market penetration. In contrast, Clean Harbors experienced a more modest increase of about 53% during the same period, indicating a more controlled cost management approach.

While ZTO Express's aggressive growth strategy is evident, Clean Harbors' steady cost control might appeal to investors seeking stability. As of 2023, ZTO's SG&A expenses are nearly 3.6 times higher than Clean Harbors, highlighting the different operational strategies of these industry players. Understanding these trends can provide valuable insights for stakeholders and investors alike.