Fiserv, Inc. or Keysight Technologies, Inc.: Who Manages SG&A Costs Better?

A Tale of Two Companies: SG&A Cost Management

In the competitive landscape of corporate America, managing Selling, General, and Administrative (SG&A) expenses is crucial for profitability. Fiserv, Inc. and Keysight Technologies, Inc. offer a fascinating study in contrasts over the past decade. From 2014 to 2023, Fiserv's SG&A expenses surged by over 570%, peaking at approximately $6.6 billion in 2023. In contrast, Keysight Technologies maintained a more stable trajectory, with a modest increase of around 65% over the same period, reaching $1.3 billion in 2023.

This disparity highlights Fiserv's aggressive expansion strategy, possibly through acquisitions, while Keysight's steady approach suggests a focus on organic growth and operational efficiency. The data for 2024 is incomplete, but the trends are clear: Fiserv's rapid growth comes with higher costs, whereas Keysight's disciplined management may offer a more sustainable path forward.