SG&A Efficiency: A Tale of Two Giants

In the world of corporate finance, Selling, General, and Administrative (SG&A) expenses are a critical measure of operational efficiency. This analysis compares the SG&A expenses of two industry titans: Deere & Company and Old Dominion Freight Line, Inc., from 2014 to 2023.

Deere & Company: A Steady Climb

Deere & Company, a leader in agricultural machinery, has seen its SG&A expenses grow by approximately 37% over the past decade, peaking in 2024. This upward trend reflects its strategic investments in innovation and market expansion.

Old Dominion Freight Line, Inc.: A Lean Machine

Conversely, Old Dominion Freight Line, Inc., a major player in the freight industry, has maintained a leaner SG&A profile. Despite a 94% increase from 2014 to 2023, its expenses remain a fraction of Deere's, showcasing its operational efficiency.

This comparison highlights the diverse strategies of these companies in managing their operational costs.