Selling, General, and Administrative Costs: United Rentals, Inc. vs Fastenal Company

A Tale of Two Companies: SG&A Expenses Over a Decade

In the competitive landscape of industrial services, understanding the financial dynamics of key players is crucial. Over the past decade, United Rentals, Inc. and Fastenal Company have showcased intriguing trends in their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2024, Fastenal's SG&A expenses have surged by approximately 70%, reflecting its aggressive expansion and operational strategies. In contrast, United Rentals has seen a more moderate increase of around 117%, indicating a steady growth trajectory.

Key Insights

• Fastenal's Growth: Fastenal's SG&A expenses grew from 2014's baseline, peaking in 2024, highlighting its strategic investments in infrastructure and market penetration.
• United Rentals' Strategy: United Rentals, while starting with lower SG&A expenses, has consistently increased its spending, suggesting a focus on scaling operations and enhancing service offerings.

These trends underscore the diverse strategies employed by these industry giants to maintain their competitive edge.