Operational Costs Compared: SG&A Analysis of Automatic Data Processing, Inc. and Equifax Inc.

A Comparative Analysis of SG&A Expenses: ADP vs. Equifax

In the ever-evolving landscape of corporate finance, understanding operational costs is crucial. This analysis delves into the Selling, General, and Administrative (SG&A) expenses of two industry giants: Automatic Data Processing, Inc. (ADP) and Equifax Inc., from 2014 to 2023. Over this decade, ADP consistently outpaced Equifax in SG&A spending, with a notable 35% increase from 2014 to 2023. In contrast, Equifax's expenses grew by approximately 84% during the same period, highlighting a more aggressive cost expansion strategy.

Key Insights

• ADP's Steady Growth: ADP's SG&A expenses rose from $2.76 billion in 2014 to $3.55 billion in 2023, reflecting a stable growth trajectory.
• Equifax's Fluctuations: Equifax experienced a significant jump in 2019, peaking at $1.99 billion, before stabilizing around $1.39 billion in 2023.

This data underscores the strategic financial management differences between these two corporations.