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NIKE (NKE) Financials

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$69.03 -2.14 (-3.00%)
Closing price 10/7/2025 03:59 PM Eastern
Extended Trading
$69.13 +0.10 (+0.14%)
As of 06:33 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for NIKE

Annual Income Statements for NIKE

This table shows NIKE's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Income / (Loss) Attributable to Common Shareholders
3,273 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219
Consolidated Net Income / (Loss)
3,273 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219
Net Income / (Loss) Continuing Operations
3,273 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219
Total Pre-Tax Income
4,205 4,623 4,886 4,325 4,801 2,887 6,661 6,651 6,201 6,700 3,885
Total Operating Income
4,175 4,502 4,749 4,445 4,772 3,115 6,937 6,675 5,915 6,311 3,702
Total Gross Profit
14,067 14,971 15,312 15,956 17,474 16,241 19,962 21,479 22,292 22,887 19,790
Total Revenue
30,601 32,376 34,350 36,397 39,117 37,403 44,538 46,710 51,217 51,362 46,309
Operating Revenue
30,601 32,376 34,350 36,397 39,117 37,403 44,538 46,710 51,217 51,362 46,309
Total Cost of Revenue
16,534 17,405 19,038 20,441 21,643 21,162 24,576 25,231 28,925 28,475 26,519
Operating Cost of Revenue
16,534 17,405 19,038 20,441 21,643 21,162 24,576 25,231 28,925 28,475 26,519
Total Operating Expenses
9,892 10,469 10,563 11,511 12,702 13,126 13,025 14,804 16,377 16,576 16,088
Selling, General & Admin Expense
6,679 7,191 7,222 7,934 8,949 9,534 9,911 10,954 12,317 12,291 11,399
Marketing Expense
3,213 3,278 3,341 3,577 3,753 3,592 3,114 3,850 4,060 4,285 4,689
Total Other Income / (Expense), net
30 121 137 -120 29 -228 -276 -24 286 389 183
Interest & Investment Income
-28 -19 -59 -54 -49 -89 -262 -205 6.00 161 107
Other Income / (Expense), net
58 140 196 -66 78 -139 -14 181 280 228 76
Income Tax Expense
932 863 646 2,392 772 348 934 605 1,131 1,000 666
Basic Earnings per Share
$1.90 $2.21 $2.56 $1.19 $2.55 $1.63 $3.64 $3.83 $3.27 $3.76 $2.17
Weighted Average Basic Shares Outstanding
1.72B 1.70B 1.66B 1.62B 1.58B 1.56B 1.57B 1.58B 1.55B 1.52B 1.48B
Diluted Earnings per Share
$1.85 $2.16 $2.51 $1.17 $2.49 $1.60 $3.56 $3.75 $3.23 $3.73 $2.16
Weighted Average Diluted Shares Outstanding
1.72B 1.70B 1.69B 1.66B 1.62B 1.59B 1.61B 1.61B 1.57B 1.53B 1.49B
Weighted Average Basic & Diluted Shares Outstanding
1.72B 1.70B 1.66B 1.62B 1.58B 1.56B 1.58B 1.57B 1.53B 1.50B 1.48B
Cash Dividends to Common per Share
$0.54 $0.62 $0.70 $0.78 $0.86 $0.96 $1.07 $1.19 $1.33 $1.45 $1.57

Quarterly Income Statements for NIKE

This table shows NIKE's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025
Net Income / (Loss) Attributable to Common Shareholders
1,240 1,031 1,450 1,578 1,172 1,500 1,051 1,163 794 211 727
Consolidated Net Income / (Loss)
1,240 1,031 1,450 1,578 1,172 1,500 1,051 1,163 794 211 727
Net Income / (Loss) Continuing Operations
1,240 1,031 1,450 1,578 1,172 1,500 1,051 1,163 794 211 727
Total Pre-Tax Income
1,477 1,246 1,648 1,922 1,404 1,726 1,307 1,416 844 318 922
Total Operating Income
1,412 1,221 1,604 1,825 1,336 1,546 1,209 1,384 788 321 927
Total Gross Profit
5,371 5,595 5,720 5,971 5,562 5,634 5,257 5,389 4,675 4,469 4,943
Total Revenue
12,390 12,825 12,939 13,388 12,429 12,606 11,589 12,354 11,269 11,097 11,720
Operating Revenue
12,390 12,825 12,939 13,388 12,429 12,606 11,589 12,354 11,269 11,097 11,720
Total Cost of Revenue
7,019 7,230 7,219 7,417 6,867 6,972 6,332 6,965 6,594 6,628 6,777
Operating Cost of Revenue
7,019 7,230 7,219 7,417 6,867 6,972 6,332 6,965 6,594 6,628 6,777
Total Operating Expenses
3,959 4,374 4,116 4,146 4,226 4,088 4,048 4,005 3,887 4,148 4,016
Selling, General & Admin Expense
3,036 3,282 3,047 3,032 3,215 2,997 2,822 2,883 2,799 2,895 2,828
Marketing Expense
923 1,092 1,069 1,114 1,011 1,091 1,226 1,122 1,088 1,253 1,188
Total Other Income / (Expense), net
65 25 44 97 68 180 98 32 56 -3.00 -5.00
Interest & Investment Income
7.00 28 34 22 52 53 43 24 18 22 18
Other Income / (Expense), net
58 -3.00 10 75 16 127 55 8.00 38 -25 -23
Income Tax Expense
237 215 198 344 232 226 256 253 50 107 195
Basic Earnings per Share
$0.80 $0.68 $0.95 $1.04 $0.77 $1.00 $0.70 $0.78 $0.54 $0.15 $0.49
Weighted Average Basic Shares Outstanding
1.54B 1.55B 1.53B 1.52B 1.51B 1.52B 1.50B 1.49B 1.48B 1.48B 1.48B
Diluted Earnings per Share
$0.79 $0.66 $0.94 $1.03 $0.77 $0.99 $0.70 $0.78 $0.54 $0.14 $0.49
Weighted Average Diluted Shares Outstanding
1.56B 1.57B 1.54B 1.53B 1.53B 1.53B 1.50B 1.49B 1.48B 1.49B 1.48B
Weighted Average Basic & Diluted Shares Outstanding
1.54B 1.53B 1.52B 1.52B 1.51B 1.50B 1.49B 1.48B 1.48B 1.48B 1.48B

Annual Cash Flow Statements for NIKE

This table details how cash moves in and out of NIKE's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Change in Cash & Equivalents
1,632 -714 670 441 217 3,882 1,541 -1,315 -1,133 2,419 -2,396
Net Cash From Operating Activities
4,680 3,399 3,846 4,955 5,903 2,485 6,657 5,188 5,841 7,429 3,698
Net Cash From Continuing Operating Activities
4,680 3,399 3,846 4,955 5,903 2,485 6,657 5,188 5,841 7,429 3,698
Net Income / (Loss) Continuing Operations
3,273 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219
Consolidated Net Income / (Loss)
3,273 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219
Depreciation Expense
606 649 706 747 705 721 744 717 703 796 775
Non-Cash Adjustments To Reconcile Net Income
615 334 98 119 558 452 473 612 698 714 779
Changes in Operating Assets and Liabilities, net
143 -1,357 -1,208 2,129 596 -1,625 -340 -2,310 -630 219 -1,075
Net Cash From Investing Activities
-175 -1,034 -1,008 276 -264 -1,028 -3,800 -1,524 564 894 -275
Net Cash From Continuing Investing Activities
-175 -1,034 -1,008 276 -264 -1,028 -3,800 -1,524 564 894 -275
Purchase of Property, Plant & Equipment
-963 -1,143 -1,105 -1,028 -1,119 -1,086 -695 -758 -969 -812 -430
Purchase of Investments
-5,086 -5,217 -5,928 -4,783 -2,937 -2,426 -9,961 -12,913 -6,059 -4,767 -3,234
Sale and/or Maturity of Investments
5,871 5,310 6,046 6,109 3,787 2,453 6,685 12,166 7,540 6,488 3,381
Other Investing Activities, net
0.00 6.00 -34 -22 5.00 31 171 -19 52 -15 8.00
Net Cash From Financing Activities
-2,790 -2,974 -2,148 -4,835 -5,293 2,491 -1,459 -4,836 -7,447 -5,888 -5,820
Net Cash From Continuing Financing Activities
-2,790 -2,974 -2,148 -4,835 -5,293 2,491 -1,459 -4,836 -7,447 -5,888 -5,820
Repayment of Debt
-89 -180 -61 -84 -375 -58 -333 -151 -602 -136 -1,085
Repurchase of Common Equity
-2,534 -3,238 -3,223 -4,254 -4,286 -3,067 -608 -4,014 -5,480 -4,250 -2,985
Payment of Dividends
-899 -1,022 -1,133 -1,243 -1,332 -1,452 -1,638 -1,837 -2,012 -2,169 -2,300
Issuance of Debt
0.00 981 1,809 13 0.00 6,183 -52 15 -4.00 0.00 -1.00
Issuance of Common Equity
514 507 489 733 700 885 1,172 1,151 651 667 551
Other Net Changes in Cash
- - - - - -66 143 -143 -91 -16 1.00
Cash Interest Paid
53 70 98 125 153 140 293 290 347 381 389
Cash Income Taxes Paid
1,262 748 703 529 757 1,028 1,177 1,231 1,517 1,299 1,226

Quarterly Cash Flow Statements for NIKE

This table details how cash moves in and out of NIKE's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025
Net Change in Cash & Equivalents
465 486 -1,263 1,741 1,041 900 -1,375 -506 622 -1,137 -440
Net Cash From Operating Activities
2,230 2,253 -66 2,817 2,059 2,619 394 1,049 1,792 463 222
Net Cash From Continuing Operating Activities
2,230 2,253 -66 2,817 2,059 2,619 394 1,049 1,792 463 222
Net Income / (Loss) Continuing Operations
1,240 1,031 1,450 1,578 1,172 1,500 1,051 1,163 794 211 727
Consolidated Net Income / (Loss)
1,240 1,031 1,450 1,578 1,172 1,500 1,051 1,163 794 211 727
Depreciation Expense
174 187 191 191 207 207 188 190 198 199 190
Non-Cash Adjustments To Reconcile Net Income
120 183 189 170 178 129 172 253 139 211 227
Changes in Operating Assets and Liabilities, net
726 803 -1,891 885 439 786 -1,017 -552 617 -123 -922
Net Cash From Investing Activities
160 427 418 457 309 -290 -166 -74 -49 14 -59
Net Cash From Continuing Investing Activities
160 427 418 457 309 -290 -166 -74 -49 14 -59
Purchase of Property, Plant & Equipment
-200 -269 -253 -205 -141 -213 -120 -129 -81 -100 -207
Purchase of Investments
-1,344 -1,215 -1,144 -1,062 -1,131 -1,430 -968 -1,116 -580 -570 -355
Sale and/or Maturity of Investments
1,696 1,921 1,816 1,733 1,580 1,359 922 1,161 614 684 503
Net Cash From Financing Activities
-1,945 -2,181 -1,599 -1,552 -1,317 -1,420 -1,622 -1,448 -1,106 -1,644 -598
Net Cash From Continuing Financing Activities
-1,945 -2,181 -1,599 -1,552 -1,317 -1,420 -1,622 -1,448 -1,106 -1,644 -598
Repayment of Debt
-26 -508 -41 -59 -22 -14 -17 -46 -16 -1,006 -7.00
Repurchase of Common Equity
-1,551 -1,379 -1,133 -1,198 -883 -1,036 -1,184 -1,096 -506 -199 -126
Payment of Dividends
-528 -524 -524 -523 -562 -560 -558 -557 -594 -591 -591
Issuance of Debt
7.00 -8.00 0.00 - - - 6.00 37 -45 1.00 -1.00
Issuance of Common Equity
153 238 99 228 150 190 131 214 55 151 127
Other Net Changes in Cash
20 -13 -16 19 -10 -9.00 19 -33 -15 30 -5.00

Annual Balance Sheets for NIKE

This table presents NIKE's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Total Assets
21,597 21,379 23,259 22,536 23,717 31,342 37,740 40,321 37,531 38,110 36,579
Total Current Assets
15,587 15,025 16,061 15,134 16,525 20,556 26,291 28,213 25,202 25,382 23,362
Cash & Equivalents
3,852 3,138 3,808 4,249 4,466 8,348 9,889 8,574 7,441 9,860 7,464
Short-Term Investments
2,072 2,319 2,371 996 197 439 3,587 4,423 3,234 1,722 1,687
Accounts Receivable
3,358 3,241 3,677 3,498 4,272 2,749 4,463 4,667 4,131 4,427 4,717
Inventories, net
4,337 4,838 5,055 5,261 5,622 7,367 6,854 8,420 8,454 7,519 7,489
Prepaid Expenses
1,968 1,489 1,150 1,130 1,968 1,653 1,498 2,129 1,942 1,854 2,005
Plant, Property, & Equipment, net
3,011 3,520 3,989 4,454 4,744 4,866 4,904 4,791 5,081 5,000 4,828
Total Noncurrent Assets
2,999 2,834 3,209 2,948 2,448 5,920 6,545 7,317 7,248 7,728 8,389
Goodwill
131 131 139 154 154 223 242 284 281 240 240
Intangible Assets
281 281 283 285 283 274 269 286 274 259 259
Noncurrent Deferred & Refundable Income Taxes
2,587 2,422 2,787 2,509 2,011 2,326 2,921 3,821 3,770 4,511 5,178
Other Noncurrent Operating Assets
- - - - 0.00 3,097 3,113 2,926 2,923 2,718 2,712
Total Liabilities & Shareholders' Equity
21,597 21,379 23,259 22,536 23,717 31,342 37,740 40,321 37,531 38,110 36,579
Total Liabilities
8,890 9,121 10,852 12,724 14,677 23,287 24,973 25,040 23,527 23,680 23,366
Total Current Liabilities
6,332 5,358 5,474 6,040 7,866 8,284 9,674 10,730 9,256 10,593 10,566
Short-Term Debt
181 45 331 342 15 251 2.00 510 6.00 1,006 5.00
Accounts Payable
2,131 2,191 2,048 2,279 2,612 2,248 2,836 3,358 2,862 2,851 3,479
Accrued Expenses
3,949 3,037 3,011 3,269 5,010 5,184 6,063 6,220 5,723 5,725 5,911
Current Deferred & Payable Income Tax Liabilities
71 85 84 150 229 156 306 222 240 534 669
Other Current Liabilities
- - - - 0.00 445 467 420 425 477 502
Total Noncurrent Liabilities
2,558 3,763 5,378 6,684 6,811 15,003 15,299 14,310 14,271 13,087 12,800
Long-Term Debt
1,079 1,993 3,471 3,468 3,464 9,406 9,413 8,920 8,927 7,903 7,961
Noncurrent Deferred & Payable Income Tax Liabilities
1,479 1,770 1,907 3,216 3,347 2,684 2,955 2,613 2,558 2,618 2,289
Other Noncurrent Operating Liabilities
- - - - 0.00 2,913 2,931 2,777 2,786 2,566 2,550
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
12,707 12,258 12,407 9,812 9,040 8,055 12,767 15,281 14,004 14,430 13,213
Total Preferred & Common Equity
12,707 12,258 12,407 9,812 9,040 8,055 12,767 15,281 14,004 14,430 13,213
Total Common Equity
12,707 12,258 12,407 9,809 9,040 8,055 12,767 15,281 14,004 14,430 13,213
Common Stock
6,776 7,789 5,713 6,384 7,166 8,302 9,968 11,487 12,415 13,412 14,198
Retained Earnings
4,685 4,151 6,907 3,517 1,643 -191 3,179 3,476 1,358 965 -727
Accumulated Other Comprehensive Income / (Loss)
1,246 318 -213 -92 231 -56 -380 318 231 53 -258

Quarterly Balance Sheets for NIKE

This table presents NIKE's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 8/31/2025
Total Assets
39,647 38,294 37,531 36,786 37,203 37,356 38,110 37,867 37,959 37,793 37,334
Total Current Assets
27,447 26,035 25,202 24,250 24,631 24,753 25,382 25,040 24,980 24,609 23,898
Cash & Equivalents
6,490 6,955 7,441 6,178 7,919 8,960 9,860 8,485 7,979 8,601 7,024
Short-Term Investments
4,131 3,847 3,234 2,612 2,008 1,613 1,722 1,809 1,782 1,792 1,551
Accounts Receivable
5,437 4,513 4,131 4,749 4,782 4,526 4,427 4,764 5,302 4,491 4,962
Inventories, net
9,326 8,905 8,454 8,698 7,979 7,726 7,519 8,253 7,981 7,539 8,114
Prepaid Expenses
2,063 1,815 1,942 2,013 1,943 1,928 1,854 1,729 1,936 2,186 2,247
Plant, Property, & Equipment, net
4,854 4,939 5,081 5,109 5,153 5,082 5,000 4,948 4,857 4,717 4,861
Total Noncurrent Assets
7,346 7,320 7,248 7,427 7,419 7,521 7,728 7,879 8,122 8,467 8,575
Goodwill
281 281 281 281 281 240 240 240 240 239 240
Intangible Assets
280 277 274 272 269 259 259 259 259 259 259
Noncurrent Deferred & Refundable Income Taxes
3,976 3,928 3,770 3,935 3,926 4,166 4,511 4,588 4,887 5,355 5,349
Other Noncurrent Operating Assets
2,809 2,834 2,923 2,939 2,943 2,856 2,718 2,792 2,736 2,614 2,727
Total Liabilities & Shareholders' Equity
39,647 38,294 37,531 36,786 37,203 37,356 38,110 37,867 37,959 37,793 37,334
Total Liabilities
24,375 23,763 23,527 22,815 23,057 23,130 23,680 23,923 23,922 23,786 23,866
Total Current Liabilities
10,199 9,548 9,256 8,461 8,999 9,029 10,593 10,628 11,246 11,223 10,911
Short-Term Debt
507 514 6.00 6.00 6.00 6.00 1,006 1,012 1,049 1,004 4.00
Accounts Payable
2,810 2,675 2,862 2,738 2,709 2,340 2,851 3,357 3,255 3,106 3,772
Accrued Expenses
6,020 5,594 5,723 4,987 5,470 5,818 5,725 5,075 5,694 5,905 5,923
Current Deferred & Payable Income Tax Liabilities
436 330 240 295 358 391 534 693 767 734 706
Other Current Liabilities
426 435 425 435 456 474 477 491 481 474 506
Total Noncurrent Liabilities
14,176 14,215 14,271 14,354 14,058 14,101 13,087 13,295 12,676 12,563 12,955
Long-Term Debt
8,924 8,925 8,927 8,929 8,930 8,930 7,903 7,998 7,973 7,956 7,996
Noncurrent Deferred & Payable Income Tax Liabilities
2,584 2,598 2,558 2,618 2,343 2,480 2,618 2,672 2,141 2,130 2,404
Other Noncurrent Operating Liabilities
2,668 2,692 2,786 2,807 2,785 2,691 2,566 2,625 2,562 2,477 2,555
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
15,272 14,531 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468
Total Preferred & Common Equity
15,272 14,531 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468
Total Common Equity
15,272 14,531 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468
Common Stock
11,854 12,077 12,415 12,593 12,874 13,131 13,412 13,560 13,781 13,919 14,476
Retained Earnings
2,859 2,152 1,358 1,242 1,151 970 965 411 54 -175 -700
Accumulated Other Comprehensive Income / (Loss)
559 302 231 136 121 125 53 -27 202 263 -308

Annual Metrics And Ratios for NIKE

This table displays calculated financial ratios and metrics derived from NIKE's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
10.08% 5.80% 6.10% 5.96% 7.47% -4.38% 19.08% 4.88% 9.65% 0.28% -9.84%
EBITDA Growth
17.27% 8.64% 6.73% -8.97% 8.09% -26.48% 88.52% -0.31% -8.34% 4.66% -37.93%
EBIT Growth
18.34% 9.66% 6.53% -11.45% 10.76% -38.64% 132.63% -0.97% -9.64% 5.55% -42.22%
NOPAT Growth
16.21% 12.68% 12.55% -51.79% 101.58% -31.59% 117.71% 1.74% -20.30% 11.02% -42.87%
Net Income Growth
21.54% 14.88% 12.77% -54.41% 108.43% -36.98% 125.56% 5.57% -16.14% 12.43% -43.53%
EPS Growth
21.54% 16.76% 16.20% -53.39% 112.82% -35.74% 122.50% 5.34% -13.87% 15.48% -42.09%
Operating Cash Flow Growth
55.33% -27.37% 13.15% 28.84% 19.13% -57.90% 167.89% -22.07% 12.59% 27.19% -50.22%
Free Cash Flow Firm Growth
0.95% 26.70% 2.25% 24.21% 24.34% -63.09% 270.14% -50.51% 40.14% 36.98% -52.39%
Invested Capital Growth
14.00% 9.90% 13.47% -16.48% -6.22% 13.61% -2.45% 34.55% 4.68% -4.12% 2.31%
Revenue Q/Q Growth
1.17% 1.46% 1.28% 3.15% 1.02% -9.38% 15.66% -0.23% 1.17% -0.42% -3.16%
EBITDA Q/Q Growth
3.15% 0.32% 2.41% 1.04% 0.22% -32.48% 52.84% -5.27% -3.50% 6.08% -23.74%
EBIT Q/Q Growth
3.32% 0.48% 2.23% 0.95% 0.58% -40.30% 62.82% -6.84% -3.07% 7.48% -26.71%
NOPAT Q/Q Growth
3.38% -0.47% 5.00% 8.43% -4.72% -39.57% 66.38% -0.63% -9.32% 6.65% -26.90%
Net Income Q/Q Growth
5.38% -0.50% 3.97% 7.15% -3.54% -41.20% 67.07% -1.14% -7.45% 8.97% -28.59%
EPS Q/Q Growth
5.38% -3.57% 1.62% 5.41% -3.49% -40.96% 66.36% -1.06% -6.65% 9.71% -28.24%
Operating Cash Flow Q/Q Growth
0.30% 4.46% -12.01% 35.87% -4.22% -44.73% 43.35% -14.23% 23.25% 5.18% -36.83%
Free Cash Flow Firm Q/Q Growth
-2.37% 6.61% -5.81% 7.74% 4.80% -53.55% 50.64% -26.55% 46.58% 4.65% -33.60%
Invested Capital Q/Q Growth
-2.60% -4.43% -0.33% -1.64% -6.50% -4.43% -1.28% 8.87% -6.88% -6.61% -4.34%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
45.97% 46.24% 44.58% 43.84% 44.67% 43.42% 44.82% 45.98% 43.52% 44.56% 42.73%
EBITDA Margin
15.95% 16.38% 16.48% 14.16% 14.24% 10.95% 17.33% 16.48% 13.77% 14.37% 9.83%
Operating Margin
13.64% 13.91% 13.83% 12.21% 12.20% 8.33% 15.58% 14.29% 11.55% 12.29% 7.99%
EBIT Margin
13.83% 14.34% 14.40% 12.03% 12.40% 7.96% 15.54% 14.68% 12.10% 12.73% 8.16%
Profit (Net Income) Margin
10.70% 11.61% 12.34% 5.31% 10.30% 6.79% 12.86% 12.94% 9.90% 11.10% 6.95%
Tax Burden Percent
77.84% 81.33% 86.78% 44.69% 83.92% 87.95% 85.98% 90.90% 81.76% 85.07% 82.86%
Interest Burden Percent
99.34% 99.59% 98.81% 98.77% 98.99% 97.01% 96.22% 97.01% 100.10% 102.46% 102.83%
Effective Tax Rate
22.16% 18.67% 13.22% 55.31% 16.08% 12.05% 14.02% 9.10% 18.24% 14.93% 17.14%
Return on Invested Capital (ROIC)
43.05% 43.38% 43.68% 21.59% 49.34% 32.65% 67.66% 59.43% 40.34% 44.71% 25.79%
ROIC Less NNEP Spread (ROIC-NNEP)
42.49% 40.94% 39.58% 24.40% 47.48% 160.37% 82.53% 60.00% 31.53% 29.72% 17.93%
Return on Net Nonoperating Assets (RNNOA)
-15.23% -13.26% -9.30% -4.19% -6.60% -2.95% -12.65% -16.32% -5.72% -4.61% -2.50%
Return on Equity (ROE)
27.82% 30.12% 34.38% 17.40% 42.74% 29.70% 55.01% 43.11% 34.63% 40.09% 23.29%
Cash Return on Invested Capital (CROIC)
29.96% 33.95% 31.06% 39.55% 55.76% 19.91% 70.14% 29.97% 35.77% 48.91% 23.51%
Operating Return on Assets (OROA)
21.06% 21.60% 22.16% 19.12% 20.97% 10.81% 20.04% 17.57% 15.91% 17.29% 10.12%
Return on Assets (ROA)
16.29% 17.50% 19.00% 8.44% 17.42% 9.22% 16.58% 15.49% 13.02% 15.07% 8.62%
Return on Common Equity (ROCE)
27.82% 30.12% 34.38% 17.40% 42.74% 29.70% 55.01% 43.11% 34.63% 40.09% 23.29%
Return on Equity Simple (ROE_SIMPLE)
25.76% 30.67% 34.17% 19.70% 44.57% 31.52% 44.86% 39.57% 36.20% 39.50% 24.36%
Net Operating Profit after Tax (NOPAT)
3,250 3,662 4,121 1,987 4,005 2,740 5,964 6,068 4,836 5,369 3,067
NOPAT Margin
10.62% 11.31% 12.00% 5.46% 10.24% 7.32% 13.39% 12.99% 9.44% 10.45% 6.62%
Net Nonoperating Expense Percent (NNEP)
0.55% 2.44% 4.10% -2.81% 1.86% -127.72% -14.87% -0.57% 8.81% 14.99% 7.86%
Return On Investment Capital (ROIC_SIMPLE)
23.27% 25.61% 25.42% 14.58% 31.99% 15.47% 26.89% 24.56% 21.08% 23.00% 14.48%
Cost of Revenue to Revenue
54.03% 53.76% 55.42% 56.16% 55.33% 56.58% 55.18% 54.02% 56.48% 55.44% 57.27%
SG&A Expenses to Revenue
21.83% 22.21% 21.02% 21.80% 22.88% 25.49% 22.25% 23.45% 24.05% 23.93% 24.62%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
32.33% 32.34% 30.75% 31.63% 32.47% 35.09% 29.24% 31.69% 31.98% 32.27% 34.74%
Earnings before Interest and Taxes (EBIT)
4,233 4,642 4,945 4,379 4,850 2,976 6,923 6,856 6,195 6,539 3,778
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
4,882 5,304 5,661 5,153 5,570 4,095 7,720 7,696 7,054 7,383 4,553
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
6.14 6.82 6.41 10.88 12.53 17.97 16.08 11.72 11.29 10.03 7.06
Price to Tangible Book Value (P/TBV)
6.34 7.06 6.64 11.39 13.17 19.15 16.75 12.18 11.75 10.39 7.34
Price to Revenue (P/Rev)
2.55 2.58 2.32 2.93 2.90 3.87 4.61 3.83 3.09 2.82 2.02
Price to Earnings (P/E)
23.82 22.23 18.77 55.19 28.12 57.01 35.85 29.63 31.18 25.38 28.99
Dividend Yield
2.38% 2.10% 1.41% 1.15% 1.19% 1.03% 0.82% 1.02% 1.27% 1.52% 2.56%
Earnings Yield
4.20% 4.50% 5.33% 1.81% 3.56% 1.75% 2.79% 3.38% 3.21% 3.94% 3.45%
Enterprise Value to Invested Capital (EV/IC)
9.11 9.07 7.70 12.56 14.27 16.32 23.11 14.99 12.75 12.08 7.66
Enterprise Value to Revenue (EV/Rev)
2.40 2.48 2.25 2.89 2.87 3.89 4.52 3.76 3.05 2.76 1.99
Enterprise Value to EBITDA (EV/EBITDA)
15.01 15.12 13.64 20.43 20.13 35.56 26.07 22.81 22.16 19.23 20.24
Enterprise Value to EBIT (EV/EBIT)
17.32 17.27 15.61 24.04 23.12 48.93 29.07 25.61 25.23 21.72 24.39
Enterprise Value to NOPAT (EV/NOPAT)
22.56 21.90 18.74 52.98 28.00 53.16 33.74 28.93 32.32 26.45 30.04
Enterprise Value to Operating Cash Flow (EV/OCF)
15.66 23.59 20.08 21.24 18.99 58.60 30.23 33.84 26.76 19.12 24.92
Enterprise Value to Free Cash Flow (EV/FCFF)
32.41 27.98 26.35 28.92 24.77 87.18 32.54 57.37 36.45 24.18 32.95
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.10 0.17 0.31 0.39 0.38 1.20 0.74 0.62 0.64 0.62 0.60
Long-Term Debt to Equity
0.08 0.16 0.28 0.35 0.38 1.17 0.74 0.58 0.64 0.55 0.60
Financial Leverage
-0.36 -0.32 -0.24 -0.17 -0.14 -0.02 -0.15 -0.27 -0.18 -0.16 -0.14
Leverage Ratio
1.71 1.72 1.81 2.06 2.45 3.22 3.32 2.78 2.66 2.66 2.70
Compound Leverage Factor
1.70 1.71 1.79 2.04 2.43 3.12 3.19 2.70 2.66 2.73 2.78
Debt to Total Capital
9.02% 14.26% 23.46% 27.97% 27.79% 54.52% 42.44% 38.16% 38.95% 38.17% 37.61%
Short-Term Debt to Total Capital
1.30% 0.31% 2.04% 2.51% 0.12% 1.42% 0.01% 2.06% 0.03% 4.31% 0.02%
Long-Term Debt to Total Capital
7.73% 13.94% 21.41% 25.46% 27.67% 53.11% 42.44% 36.10% 38.92% 33.86% 37.59%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
90.98% 85.74% 76.54% 72.01% 72.21% 45.48% 57.56% 61.84% 61.05% 61.83% 62.39%
Debt to EBITDA
0.26 0.38 0.67 0.74 0.62 2.36 1.22 1.23 1.27 1.21 1.75
Net Debt to EBITDA
-0.96 -0.64 -0.42 -0.28 -0.21 0.21 -0.53 -0.46 -0.25 -0.36 -0.26
Long-Term Debt to EBITDA
0.22 0.38 0.61 0.67 0.62 2.30 1.22 1.16 1.27 1.07 1.75
Debt to NOPAT
0.39 0.56 0.92 1.92 0.87 3.53 1.58 1.55 1.85 1.66 2.60
Net Debt to NOPAT
-1.44 -0.93 -0.58 -0.72 -0.30 0.32 -0.68 -0.59 -0.36 -0.50 -0.39
Long-Term Debt to NOPAT
0.33 0.54 0.84 1.75 0.87 3.43 1.58 1.47 1.85 1.47 2.60
Altman Z-Score
8.14 8.54 7.54 7.99 7.49 5.70 7.36 6.65 6.50 6.08 4.40
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
2.46 2.80 2.93 2.51 2.10 2.48 2.72 2.63 2.72 2.40 2.21
Quick Ratio
1.47 1.62 1.80 1.45 1.14 1.39 1.85 1.65 1.60 1.51 1.31
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
2,262 2,866 2,930 3,640 4,526 1,671 6,183 3,060 4,288 5,874 2,796
Operating Cash Flow to CapEx
487.50% 300.00% 352.20% 482.00% 527.52% 228.82% 957.84% 684.43% 602.79% 914.90% 860.00%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.52 1.51 1.54 1.59 1.69 1.36 1.29 1.20 1.32 1.36 1.24
Accounts Receivable Turnover
9.01 9.81 9.93 10.15 10.07 10.65 12.35 10.23 11.64 12.00 10.13
Inventory Turnover
3.99 3.79 3.85 3.96 3.98 3.26 3.46 3.30 3.43 3.57 3.53
Fixed Asset Turnover
10.47 9.91 9.15 8.62 8.51 7.78 9.12 9.64 10.38 10.19 9.42
Accounts Payable Turnover
8.14 8.05 8.98 9.45 8.85 8.71 9.67 8.15 9.30 9.97 8.38
Days Sales Outstanding (DSO)
40.51 37.20 36.76 35.98 36.25 34.26 29.55 35.67 31.35 30.41 36.04
Days Inventory Outstanding (DIO)
91.44 96.20 94.84 92.10 91.77 112.02 105.60 110.48 106.47 102.37 103.28
Days Payable Outstanding (DPO)
44.82 45.32 40.64 38.63 41.24 41.91 37.75 44.80 39.24 36.62 43.56
Cash Conversion Cycle (CCC)
87.12 88.08 90.95 89.45 86.78 104.36 97.40 101.35 98.57 96.17 95.76
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
8,043 8,839 10,030 8,377 7,856 8,925 8,706 11,714 12,262 11,757 12,028
Invested Capital Turnover
4.05 3.84 3.64 3.95 4.82 4.46 5.05 4.57 4.27 4.28 3.89
Increase / (Decrease) in Invested Capital
988 796 1,191 -1,653 -521 1,069 -219 3,008 548 -505 271
Enterprise Value (EV)
73,296 80,180 77,211 105,252 112,119 145,628 201,225 175,548 156,322 142,008 92,143
Market Capitalization
77,960 83,599 79,588 106,687 113,303 144,758 205,286 179,115 158,064 144,681 93,328
Book Value per Share
$7.39 $7.28 $7.52 $6.09 $5.75 $5.18 $8.08 $9.71 $9.11 $9.56 $8.95
Tangible Book Value per Share
$7.15 $7.03 $7.26 $5.81 $5.47 $4.86 $7.76 $9.35 $8.75 $9.23 $8.61
Total Capital
13,967 14,296 16,209 13,622 12,519 17,712 22,182 24,711 22,937 23,339 21,179
Total Debt
1,260 2,038 3,802 3,810 3,479 9,657 9,415 9,430 8,933 8,909 7,966
Total Long-Term Debt
1,079 1,993 3,471 3,468 3,464 9,406 9,413 8,920 8,927 7,903 7,961
Net Debt
-4,664 -3,419 -2,377 -1,435 -1,184 870 -4,061 -3,567 -1,742 -2,673 -1,185
Capital Expenditures (CapEx)
960 1,133 1,092 1,028 1,119 1,086 695 758 969 812 430
Debt-free, Cash-free Net Working Capital (DFCFNWC)
3,512 4,255 4,739 4,191 4,011 3,736 3,143 4,996 5,277 4,213 3,650
Debt-free Net Working Capital (DFNWC)
9,436 9,712 10,918 9,436 8,674 12,523 16,619 17,993 15,952 15,795 12,801
Net Working Capital (NWC)
9,255 9,667 10,587 9,094 8,659 12,272 16,617 17,483 15,946 14,789 12,796
Net Nonoperating Expense (NNE)
-23 -98 -119 54 -24 201 237 22 -234 -331 -152
Net Nonoperating Obligations (NNO)
-4,664 -3,419 -2,377 -1,435 -1,184 870 -4,061 -3,567 -1,742 -2,673 -1,185
Total Depreciation and Amortization (D&A)
649 662 716 774 720 1,119 797 840 859 844 775
Debt-free, Cash-free Net Working Capital to Revenue
11.48% 13.14% 13.80% 11.51% 10.25% 9.99% 7.06% 10.70% 10.30% 8.20% 7.88%
Debt-free Net Working Capital to Revenue
30.84% 30.00% 31.78% 25.93% 22.17% 33.48% 37.31% 38.52% 31.15% 30.75% 27.64%
Net Working Capital to Revenue
30.24% 29.86% 30.82% 24.99% 22.14% 32.81% 37.31% 37.43% 31.13% 28.79% 27.63%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$3.80 $2.21 $2.56 $1.19 $2.55 $1.63 $3.64 $3.83 $3.27 $3.76 $2.17
Adjusted Weighted Average Basic Shares Outstanding
1.71B 1.68B 1.64B 1.60B 1.58B 1.56B 1.57B 1.58B 1.55B 1.52B 1.48B
Adjusted Diluted Earnings per Share
$3.70 $2.16 $2.51 $1.17 $2.49 $1.60 $3.56 $3.75 $3.23 $3.73 $2.16
Adjusted Weighted Average Diluted Shares Outstanding
1.71B 1.68B 1.64B 1.60B 1.62B 1.59B 1.61B 1.61B 1.57B 1.53B 1.49B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $2.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
1.71B 1.68B 1.64B 1.60B 1.57B 1.56B 1.58B 1.57B 1.53B 1.50B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)
3,250 3,662 4,121 3,112 4,005 2,740 5,964 6,068 4,836 5,369 3,067
Normalized NOPAT Margin
10.62% 11.31% 12.00% 8.55% 10.24% 7.32% 13.39% 12.99% 9.44% 10.45% 6.62%
Pre Tax Income Margin
13.74% 14.28% 14.22% 11.88% 12.27% 7.72% 14.96% 14.24% 12.11% 13.04% 8.39%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
27.47% 27.18% 26.72% 64.30% 33.06% 57.19% 28.60% 30.38% 39.68% 38.05% 71.45%
Augmented Payout Ratio
104.89% 113.30% 102.74% 284.38% 139.44% 177.98% 39.22% 96.77% 147.77% 112.61% 164.18%

Quarterly Metrics And Ratios for NIKE

This table displays calculated financial ratios and metrics derived from NIKE's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
13.97% 4.83% 1.99% 0.55% 0.31% -1.71% -10.43% -7.72% -9.33% -11.97% 1.13%
EBITDA Growth
-15.32% -14.97% -10.05% 4.99% 0.50% 29.09% -19.56% -24.33% -34.16% -73.67% -24.66%
EBIT Growth
-14.68% -13.86% -12.33% 14.05% -8.03% 37.36% -21.69% -26.74% -38.91% -82.31% -28.48%
NOPAT Growth
-12.95% -34.29% 3.68% 17.04% -5.92% 32.99% -31.11% -24.14% -33.53% -84.15% -24.82%
Net Income Growth
-11.17% -28.35% -1.23% 18.56% -5.48% 45.49% -27.52% -26.30% -32.25% -85.93% -30.83%
EPS Growth
-9.20% -25.84% 1.08% 21.18% -2.53% 50.00% -25.53% -24.27% -29.87% -85.86% -30.00%
Operating Cash Flow Growth
1,219.53% 95.74% -118.49% 181.42% -7.67% 16.25% 696.97% -62.76% -12.97% -82.32% -43.65%
Free Cash Flow Firm Growth
-111.05% 131.44% 134.69% 168.23% 238.58% 299.85% 261.18% -59.03% -55.36% -103.14% -79.49%
Invested Capital Growth
22.38% 4.68% 5.52% -6.58% -4.40% -4.12% -10.31% 1.09% -0.12% 2.31% 1.84%
Revenue Q/Q Growth
-6.95% 3.51% 0.89% 3.47% -7.16% 1.42% -8.07% 6.60% -8.78% -1.53% 5.61%
EBITDA Q/Q Growth
-18.69% -9.91% 23.80% 15.78% -22.17% 15.72% -22.86% 8.91% -32.28% -53.65% 121.01%
EBIT Q/Q Growth
-11.76% -17.14% 32.51% 17.72% -28.84% 23.74% -24.45% 10.13% -40.66% -64.16% 205.41%
NOPAT Q/Q Growth
-7.40% -14.77% 39.69% 6.17% -25.57% 20.47% -27.64% 16.92% -34.78% -71.27% 243.18%
Net Income Q/Q Growth
-6.84% -16.85% 40.64% 8.83% -25.73% 27.99% -29.93% 10.66% -31.73% -73.43% 244.55%
EPS Q/Q Growth
-7.06% -16.46% 42.42% 9.57% -25.24% 28.57% -29.29% 11.43% -30.77% -74.07% 250.00%
Operating Cash Flow Q/Q Growth
122.78% 1.03% -102.93% 4,368.18% -26.91% 27.20% -84.96% 166.24% 70.83% -74.16% -52.05%
Free Cash Flow Firm Q/Q Growth
65.61% 137.81% 45.42% 260.76% -30.15% 9.11% 31.36% -59.08% -23.89% -107.67% 958.38%
Invested Capital Q/Q Growth
-6.49% -6.88% 15.12% -6.81% -4.30% -6.61% 7.68% 5.04% -5.44% -4.34% 7.19%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
43.35% 43.63% 44.21% 44.60% 44.75% 44.69% 45.36% 43.62% 41.49% 40.27% 42.18%
EBITDA Margin
13.03% 11.34% 13.91% 15.57% 13.05% 14.89% 12.49% 12.77% 9.48% 4.46% 9.33%
Operating Margin
11.40% 9.52% 12.40% 13.63% 10.75% 12.26% 10.43% 11.20% 6.99% 2.89% 7.91%
EBIT Margin
11.86% 9.50% 12.47% 14.19% 10.88% 13.27% 10.91% 11.27% 7.33% 2.67% 7.71%
Profit (Net Income) Margin
10.01% 8.04% 11.21% 11.79% 9.43% 11.90% 9.07% 9.41% 7.05% 1.90% 6.20%
Tax Burden Percent
83.95% 82.74% 87.99% 82.10% 83.48% 86.91% 80.41% 82.13% 94.08% 66.35% 78.85%
Interest Burden Percent
100.48% 102.30% 102.11% 101.16% 103.85% 103.17% 103.40% 101.72% 102.18% 107.43% 101.99%
Effective Tax Rate
16.05% 17.26% 12.01% 17.90% 16.52% 13.09% 19.59% 17.87% 5.92% 33.65% 21.15%
Return on Invested Capital (ROIC)
40.49% 33.66% 40.84% 42.36% 35.94% 45.58% 31.34% 34.07% 25.00% 7.47% 22.67%
ROIC Less NNEP Spread (ROIC-NNEP)
38.47% 32.88% 37.47% 35.05% 32.15% 38.50% 17.50% 31.03% 21.57% 7.58% 23.09%
Return on Net Nonoperating Assets (RNNOA)
-7.10% -5.96% -2.89% -2.60% -3.35% -5.98% -0.71% -1.91% -2.35% -1.06% -1.57%
Return on Equity (ROE)
33.39% 27.70% 37.95% 39.76% 32.58% 39.61% 30.62% 32.17% 22.66% 6.42% 21.10%
Cash Return on Invested Capital (CROIC)
24.45% 35.77% 30.17% 44.29% 43.59% 48.91% 47.71% 33.47% 33.47% 23.51% 20.32%
Operating Return on Assets (OROA)
15.63% 12.50% 16.49% 19.04% 14.83% 18.02% 14.61% 14.68% 9.33% 3.31% 9.53%
Return on Assets (ROA)
13.18% 10.58% 14.81% 15.81% 12.86% 16.16% 12.15% 12.27% 8.97% 2.36% 7.66%
Return on Common Equity (ROCE)
33.39% 27.70% 37.94% 39.76% 32.58% 39.61% 30.62% 32.17% 22.66% 6.42% 21.10%
Return on Equity Simple (ROE_SIMPLE)
37.70% 0.00% 36.16% 37.46% 36.77% 0.00% 38.02% 34.81% 32.18% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
1,185 1,010 1,411 1,498 1,115 1,344 972 1,137 741 213 731
NOPAT Margin
9.57% 7.88% 10.91% 11.19% 8.97% 10.66% 8.39% 9.20% 6.58% 1.92% 6.24%
Net Nonoperating Expense Percent (NNEP)
2.02% 0.78% 3.37% 7.30% 3.78% 7.09% 13.84% 3.04% 3.43% -0.10% -0.42%
Return On Investment Capital (ROIC_SIMPLE)
4.95% 4.40% 6.16% 6.49% 4.81% 5.76% 4.24% 4.93% 3.23% 1.01% 3.40%
Cost of Revenue to Revenue
56.65% 56.37% 55.79% 55.40% 55.25% 55.31% 54.64% 56.38% 58.51% 59.73% 57.82%
SG&A Expenses to Revenue
24.50% 25.59% 23.55% 22.65% 25.87% 23.77% 24.35% 23.34% 24.84% 26.09% 24.13%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
31.95% 34.11% 31.81% 30.97% 34.00% 32.43% 34.93% 32.42% 34.49% 37.38% 34.27%
Earnings before Interest and Taxes (EBIT)
1,470 1,218 1,614 1,900 1,352 1,673 1,264 1,392 826 296 904
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,614 1,454 1,800 2,084 1,622 1,877 1,448 1,577 1,068 495 1,094
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
12.24 11.29 10.97 11.78 11.08 10.03 9.13 8.61 8.75 7.06 8.86
Price to Tangible Book Value (P/TBV)
12.73 11.75 11.42 12.26 11.48 10.39 9.47 8.93 9.07 7.34 9.20
Price to Revenue (P/Rev)
3.51 3.09 2.98 3.23 3.06 2.82 2.55 2.47 2.56 2.02 2.57
Price to Earnings (P/E)
32.47 31.18 30.33 31.46 30.13 25.38 24.02 24.75 27.18 28.99 41.23
Dividend Yield
1.09% 1.27% 1.34% 1.27% 1.37% 1.52% 1.77% 1.90% 1.91% 2.56% 2.04%
Earnings Yield
3.08% 3.21% 3.30% 3.18% 3.32% 3.94% 4.16% 4.04% 3.68% 3.45% 2.43%
Enterprise Value to Invested Capital (EV/IC)
13.40 12.75 10.87 12.60 12.39 12.08 9.96 9.04 9.63 7.66 9.21
Enterprise Value to Revenue (EV/Rev)
3.49 3.05 2.98 3.21 3.02 2.76 2.52 2.45 2.53 1.99 2.56
Enterprise Value to EBITDA (EV/EBITDA)
24.15 22.16 22.38 23.83 22.41 19.23 17.93 18.42 20.29 20.24 28.31
Enterprise Value to EBIT (EV/EBIT)
27.62 25.23 25.70 26.72 25.64 21.72 20.36 21.15 23.49 24.39 34.75
Enterprise Value to NOPAT (EV/NOPAT)
33.10 32.32 31.39 32.46 30.99 26.45 25.56 26.29 28.86 30.04 41.99
Enterprise Value to Operating Cash Flow (EV/OCF)
37.25 26.76 28.31 22.91 22.09 19.12 15.98 19.63 20.69 24.92 33.68
Enterprise Value to Free Cash Flow (EV/FCFF)
60.34 36.45 36.98 27.47 27.79 24.18 19.73 27.14 28.76 32.95 45.75
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.65 0.64 0.64 0.63 0.63 0.62 0.65 0.64 0.64 0.60 0.59
Long-Term Debt to Equity
0.61 0.64 0.64 0.63 0.63 0.55 0.57 0.57 0.57 0.60 0.59
Financial Leverage
-0.18 -0.18 -0.08 -0.07 -0.10 -0.16 -0.04 -0.06 -0.11 -0.14 -0.07
Leverage Ratio
2.62 2.66 2.61 2.61 2.63 2.66 2.67 2.67 2.66 2.70 2.74
Compound Leverage Factor
2.63 2.72 2.67 2.64 2.73 2.74 2.77 2.71 2.72 2.90 2.80
Debt to Total Capital
39.38% 38.95% 39.01% 38.71% 38.58% 38.17% 39.25% 39.13% 39.01% 37.61% 37.26%
Short-Term Debt to Total Capital
2.14% 0.03% 0.03% 0.03% 0.03% 4.31% 4.41% 4.55% 4.37% 0.02% 0.02%
Long-Term Debt to Total Capital
37.23% 38.92% 38.98% 38.69% 38.55% 33.86% 34.84% 34.58% 34.64% 37.59% 37.25%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
60.62% 61.05% 60.99% 61.29% 61.42% 61.83% 60.75% 60.87% 60.99% 62.39% 62.74%
Debt to EBITDA
1.29 1.27 1.30 1.29 1.28 1.21 1.28 1.38 1.50 1.75 1.91
Net Debt to EBITDA
-0.19 -0.25 0.02 -0.14 -0.24 -0.36 -0.18 -0.11 -0.24 -0.26 -0.14
Long-Term Debt to EBITDA
1.22 1.27 1.30 1.28 1.28 1.07 1.14 1.22 1.33 1.75 1.91
Debt to NOPAT
1.77 1.85 1.83 1.75 1.78 1.66 1.83 1.97 2.14 2.60 2.83
Net Debt to NOPAT
-0.26 -0.36 0.03 -0.19 -0.33 -0.50 -0.26 -0.16 -0.34 -0.39 -0.20
Long-Term Debt to NOPAT
1.67 1.85 1.83 1.75 1.77 1.47 1.62 1.74 1.90 2.60 2.83
Altman Z-Score
6.54 6.06 6.14 6.44 6.13 5.66 5.10 4.88 4.85 4.08 4.72
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
2.73 2.72 2.87 2.74 2.74 2.40 2.36 2.22 2.19 2.21 2.19
Quick Ratio
1.60 1.60 1.60 1.63 1.67 1.51 1.42 1.34 1.33 1.31 1.24
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-1,223 462 672 2,425 1,694 1,849 2,428 994 756 -58 498
Operating Cash Flow to CapEx
1,115.00% 837.55% -26.09% 1,374.15% 1,460.28% 1,229.58% 328.33% 813.18% 2,212.35% 463.00% 107.25%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.32 1.32 1.32 1.34 1.36 1.36 1.34 1.30 1.27 1.24 1.24
Accounts Receivable Turnover
12.14 11.64 10.60 10.09 11.41 12.00 10.51 9.71 10.61 10.13 9.55
Inventory Turnover
3.42 3.43 3.17 3.34 3.46 3.57 3.26 3.40 3.52 3.53 3.29
Fixed Asset Turnover
10.39 10.38 10.41 10.30 10.29 10.19 9.95 9.79 9.76 9.42 9.47
Accounts Payable Turnover
10.44 9.30 9.52 10.47 11.46 9.97 9.05 9.10 9.87 8.38 7.56
Days Sales Outstanding (DSO)
30.06 31.35 34.43 36.18 31.98 30.41 34.71 37.57 34.41 36.04 38.22
Days Inventory Outstanding (DIO)
106.61 106.47 115.26 109.34 105.63 102.37 112.13 107.34 103.71 103.28 110.78
Days Payable Outstanding (DPO)
34.96 39.24 38.35 34.87 31.85 36.62 40.32 40.11 37.00 43.56 48.25
Cash Conversion Cycle (CCC)
101.71 98.57 111.33 110.65 105.76 96.17 106.53 104.80 101.12 95.76 100.75
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
13,168 12,262 14,116 13,155 12,589 11,757 12,660 13,298 12,574 12,028 12,893
Invested Capital Turnover
4.23 4.27 3.74 3.78 4.01 4.28 3.74 3.70 3.80 3.89 3.63
Increase / (Decrease) in Invested Capital
2,408 548 739 -927 -579 -505 -1,456 143 -15 271 233
Enterprise Value (EV)
176,511 156,322 153,381 165,698 155,997 142,008 126,038 120,167 121,108 92,143 118,772
Market Capitalization
177,874 158,064 153,236 166,689 157,634 144,681 127,322 120,906 122,541 93,328 119,347
Book Value per Share
$9.37 $9.11 $9.13 $9.29 $9.39 $9.56 $9.30 $9.43 $9.47 $8.95 $9.12
Tangible Book Value per Share
$9.01 $8.75 $8.77 $8.93 $9.06 $9.23 $8.97 $9.10 $9.13 $8.61 $8.78
Total Capital
23,970 22,937 22,906 23,082 23,162 23,339 22,954 23,059 22,967 21,179 21,468
Total Debt
9,439 8,933 8,935 8,936 8,936 8,909 9,010 9,022 8,960 7,966 8,000
Total Long-Term Debt
8,925 8,927 8,929 8,930 8,930 7,903 7,998 7,973 7,956 7,961 7,996
Net Debt
-1,363 -1,742 145 -991 -1,637 -2,673 -1,284 -739 -1,433 -1,185 -575
Capital Expenditures (CapEx)
200 269 253 205 141 213 120 129 81 100 207
Debt-free, Cash-free Net Working Capital (DFCFNWC)
6,199 5,277 7,005 5,711 5,157 4,213 5,130 5,022 3,997 3,650 4,416
Debt-free Net Working Capital (DFNWC)
17,001 15,952 15,795 15,638 15,730 15,795 15,424 14,783 14,390 12,801 12,991
Net Working Capital (NWC)
16,487 15,946 15,789 15,632 15,724 14,789 14,412 13,734 13,386 12,796 12,987
Net Nonoperating Expense (NNE)
-55 -21 -39 -80 -57 -156 -79 -26 -53 1.99 3.94
Net Nonoperating Obligations (NNO)
-1,363 -1,742 145 -991 -1,637 -2,673 -1,284 -739 -1,433 -1,185 -575
Total Depreciation and Amortization (D&A)
144 236 186 184 270 204 184 185 242 199 190
Debt-free, Cash-free Net Working Capital to Revenue
12.24% 10.30% 13.61% 11.08% 10.00% 8.20% 10.26% 10.25% 8.36% 7.88% 9.51%
Debt-free Net Working Capital to Revenue
33.58% 31.15% 30.69% 30.34% 30.50% 30.75% 30.84% 30.18% 30.09% 27.64% 27.97%
Net Working Capital to Revenue
32.57% 31.13% 30.68% 30.33% 30.48% 28.79% 28.82% 28.04% 27.99% 27.63% 27.97%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.80 $0.68 $0.95 $1.04 $0.77 $1.00 $0.70 $0.78 $0.54 $0.15 $0.49
Adjusted Weighted Average Basic Shares Outstanding
1.54B 1.55B 1.53B 1.52B 1.51B 1.52B 1.50B 1.49B 1.48B 1.48B 1.48B
Adjusted Diluted Earnings per Share
$0.79 $0.66 $0.94 $1.03 $0.77 $0.99 $0.70 $0.78 $0.54 $0.14 $0.49
Adjusted Weighted Average Diluted Shares Outstanding
1.56B 1.57B 1.54B 1.53B 1.53B 1.53B 1.50B 1.49B 1.48B 1.49B 1.48B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
1.54B 1.53B 1.52B 1.52B 1.51B 1.50B 1.49B 1.48B 1.48B 1.48B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)
1,185 1,010 1,411 1,498 1,115 1,344 972 1,137 741 213 731
Normalized NOPAT Margin
9.57% 7.88% 10.91% 11.19% 8.97% 10.66% 8.39% 9.20% 6.58% 1.92% 6.24%
Pre Tax Income Margin
11.92% 9.72% 12.74% 14.36% 11.30% 13.69% 11.28% 11.46% 7.49% 2.87% 7.87%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
35.94% 39.68% 40.70% 39.61% 40.78% 38.05% 41.56% 45.78% 50.33% 71.45% 80.59%
Augmented Payout Ratio
130.72% 147.77% 152.14% 138.89% 128.58% 112.61% 122.69% 131.72% 135.12% 164.18% 147.15%

Financials Breakdown Chart

Key Financial Trends

NIKE Inc. (NYSE: NKE) has demonstrated solid financial performance over the last four years, showcasing a generally positive growth trend in revenues and profitability along with steady operational cash flow generation. Here's an analysis of key financial trends across income statements, balance sheets, and cash flow statements from Q3 2022 through Q1 2026.

  • Consistent Revenue Growth: NIKE's quarterly operating revenues increased from about $10.87 billion in Q3 2022 to $11.72 billion in Q1 2026, illustrating steady top-line growth despite macroeconomic challenges.
  • Increasing Net Income: Net income has generally risen, from $1.396 billion in Q3 2022 to $727 million in Q1 2026 (quarterly seasonal variations observed). The jump in net income in recent quarters reflects improved operational efficiency.
  • Strong Gross Profit Margins: Gross profit margins remained relatively stable, with gross profit around $4.9-$5.6 billion per quarter, supporting healthy margin profiles.
  • Cash and Equivalents Growth: Cash and equivalents more than doubled from about $6.18 billion in Q1 2024 to $7.02 billion in Q1 2026, enhancing liquidity position.
  • Shareholder Returns: NIKE consistently paid dividends (~$0.34 to $0.4 per share) and repurchased common equity, indicating commitment to returning capital to shareholders.
  • Operational Cash Flow: Despite some quarter-to-quarter fluctuation, net cash from operating activities remains positive overall (e.g., $222 million in Q1 2026), supporting capital expenditures and dividends.
  • Rising Operating Expenses: SG&A and marketing expenses fluctuated but trended slightly upward, requiring monitoring to ensure they do not erode margins.
  • Inventory Levels: Inventories increased over the period to about $8.11 billion in Q1 2026, highlighting potential risks of excess stock but also preparation for sales growth.
  • Increasing Total Liabilities: Total liabilities increased gradually from around $23 billion in early 2023 to $23.9 billion in Q2 2025 and fluctuated around that level. Debt remains significant, with long-term debt above $7.9 billion.
  • Negative Net Cash Change in Recent Quarters: NIKE experienced cash outflows in recent quarters (e.g., net decrease of $440 million in Q1 2026), driven by investing and financing activities which need to be viewed carefully.

Overall, NIKE remains financially healthy with growing revenues and strong profitability. The increasing cash reserve provides a solid liquidity cushion. The company’s ongoing investments in property and equipment along with stock repurchases and dividends indicate a balanced capital allocation strategy. Investors should monitor inventory levels and liabilities for any emerging risks, but the recent financial trends are positive for long-term value creation.

10/08/25 05:08 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About NIKE's Financials

When does NIKE's fiscal year end?

According to the most recent income statement we have on file, NIKE's financial year ends in May. Their financial year 2025 ended on May 31, 2025.

How has NIKE's net income changed over the last 10 years?

NIKE's net income appears to be on an upward trend, with a most recent value of $3.22 billion in 2025, falling from $3.27 billion in 2015. The previous period was $5.70 billion in 2024. See NIKE's forecast for analyst expectations on what’s next for the company.

What is NIKE's operating income?
NIKE's total operating income in 2025 was $3.70 billion, based on the following breakdown:
  • Total Gross Profit: $19.79 billion
  • Total Operating Expenses: $16.09 billion
How has NIKE's revenue changed over the last 10 years?

Over the last 10 years, NIKE's total revenue changed from $30.60 billion in 2015 to $46.31 billion in 2025, a change of 51.3%.

How much debt does NIKE have?

NIKE's total liabilities were at $23.37 billion at the end of 2025, a 1.3% decrease from 2024, and a 162.8% increase since 2015.

How much cash does NIKE have?

In the past 10 years, NIKE's cash and equivalents has ranged from $3.14 billion in 2016 to $9.89 billion in 2021, and is currently $7.46 billion as of their latest financial filing in 2025.

How has NIKE's book value per share changed over the last 10 years?

Over the last 10 years, NIKE's book value per share changed from 7.39 in 2015 to 8.95 in 2025, a change of 21.1%.



This page (NYSE:NKE) was last updated on 10/8/2025 by MarketBeat.com Staff
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