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

Fiserv vs. Teradyne: A Decade of SG&A Management

In the competitive landscape of financial technology and semiconductor testing, Fiserv, Inc. and Teradyne, Inc. have showcased distinct strategies in managing Selling, General, and Administrative (SG&A) expenses over the past decade. From 2014 to 2023, Fiserv's SG&A costs surged by over 570%, reflecting its aggressive expansion and investment strategies. In contrast, Teradyne maintained a more conservative approach, with a modest increase of approximately 79% in the same period.

While Fiserv's expenses peaked in 2023, reaching nearly 12 times that of Teradyne, the latter's steady growth highlights its efficient cost management. This divergence underscores the strategic choices each company has made in navigating their respective industries. As investors and analysts evaluate these trends, the question remains: does higher spending equate to greater market dominance, or does prudent management ensure long-term sustainability?