Profitability
Selling, general & administrative expenses
SG&A
What it is
Running costs not tied directly to production: administrative salaries, marketing, sales force, office rent, professional fees.
How to read it
Read them against revenue. SG&A rising more slowly than sales shows the company is growing without inflating its structure — a sign of operating leverage.
What it does not tell you
A catch-all line: some companies book growth spending here (advertising, hiring) that is really an investment in disguise, not a structural cost.
Other measures — Profitability
Educational content. Polaris is not a registered investment adviser and makes no recommendation.