ASML Holding N.V. or Sony Group Corporation: Who Manages SG&A Costs Better?

ASML vs. Sony: A Decade of SG&A Management

In the ever-evolving landscape of global technology giants, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining competitive advantage. Over the past decade, ASML Holding N.V. and Sony Group Corporation have demonstrated contrasting approaches to SG&A cost management. From 2014 to 2023, ASML's SG&A expenses grew by approximately 250%, reflecting its aggressive expansion strategy. In contrast, Sony's SG&A costs remained relatively stable, with a modest increase of around 14% over the same period.

ASML's significant rise in SG&A expenses, peaking at over €1.1 billion in 2023, underscores its commitment to scaling operations and innovation. Meanwhile, Sony's consistent SG&A management, with expenses hovering around ¥1.5 trillion to ¥2 trillion, highlights its focus on operational efficiency. This comparison offers valuable insights into how these industry leaders balance growth and cost control, shaping their financial strategies for the future.