TSR driver bridge · · built from SEC filings

That is the trend. The next exhibit is the level.

Normalized SG&A · % of revenue · 12 US-GAAP Leisure peers

What "normalized" means. Reported SG&A less the disclosed advertising and R&D lines (SEC XBRL). Restructuring and stock-based compensation are benchmarked in Exhibit 3 but not stripped. What remains is the residual overhead line, on the same footing for all 12 peers. Every adjustment traceable to the 10-K. Each bar is one peer.

Advertising, R&D, stock comp, restructuring · total filed spend, any P&L line

What the gap is worth · vs FY2027 analyst estimates

On the record · verbatim from the earnings calls

The full benchmark

Start the COLM benchmark

3 minutes to configure. Fixed-fee quote up front, read-out in days.

Your peer set, editable. Every number traceable to filings. Built outside-in, no data requests, nothing to install.

Use ← → keys, or swipe

Columbia Sportswear Company SG&A versus peers, in text

Columbia Sportswear Company (COLM) reports revenue of $3,397 million. On a normalized basis its SG&A runs 37.7% of revenue, against a median of 26.4% across 11 Leisure peers; 2 of the 11 run heavier. Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A.

Disclosed lines held outside the normalized figure: Advertising 6.5% of revenue (9 of 12 companies disclose it); Stock-based comp 0.7% of revenue (11 of 12 companies disclose it); Restructuring 0.0% of revenue (12 of 12 companies disclose it).

Closing the gap to the peer median is worth about $280 million a year (825 bps of revenue); to the lean quartile, $589 million (1733 bps).

Over 10 years (FY2016 to FY2025), Columbia Sportswear Company's total shareholder return was +6% against +144% for the peer composite; SG&A contributed -53.4 points of that return.

Built from SEC filings. Machine-readable copy: https://sgabenchmarking.com/r/COLM.json. Function-level headcount benchmarks by industry: https://sgabenchmarking.com/catalog.json.