NIKE (NKE) Financials

$62.49 +0.41 (+0.66%)

As of 03:58 PM Eastern

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

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 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Income / (Loss) Attributable to Common Shareholders	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331	1,468
Consolidated Net Income / (Loss)	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331	1,468
Net Income / (Loss) Continuing Operations	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331	1,468
Total Pre-Tax Income	844	1,416	1,307	1,726	1,404	1,922	1,648	1,246	1,477	1,650	1,828
Total Operating Income	788	1,384	1,209	1,546	1,336	1,825	1,604	1,221	1,412	1,587	1,695
Total Gross Profit	4,675	5,389	5,257	5,634	5,562	5,971	5,720	5,595	5,371	5,711	5,615
Total Revenue	11,269	12,354	11,589	12,606	12,429	13,388	12,939	12,825	12,390	13,315	12,687
Operating Revenue	11,269	12,354	11,589	12,606	12,429	13,388	12,939	12,825	12,390	13,315	12,687
Total Cost of Revenue	6,594	6,965	6,332	6,972	6,867	7,417	7,219	7,230	7,019	7,604	7,072
Operating Cost of Revenue	6,594	6,965	6,332	6,972	6,867	7,417	7,219	7,230	7,019	7,604	7,072
Total Operating Expenses	3,887	4,005	4,048	4,088	4,226	4,146	4,116	4,374	3,959	4,124	3,920
Selling, General & Admin Expense	2,799	2,883	2,822	2,997	3,215	3,032	3,047	3,282	3,036	3,022	2,977
Marketing Expense	1,088	1,122	1,226	1,091	1,011	1,114	1,069	1,092	923	1,102	943
Total Other Income / (Expense), net	56	32	98	180	68	97	44	25	65	63	133
Interest & Investment Income	18	24	43	53	52	22	34	28	7.00	-16	-13
Other Income / (Expense), net	38	8.00	55	127	16	75	10	-3.00	58	79	146
Income Tax Expense	50	253	256	226	232	344	198	215	237	319	360
Basic Earnings per Share	$0.54	$0.78	$0.70	$1.00	$0.77	$1.04	$0.95	$0.68	$0.80	$0.85	$0.94
Weighted Average Basic Shares Outstanding	1.48B	1.49B	1.50B	1.52B	1.51B	1.52B	1.53B	1.55B	1.54B	1.56B	1.57B
Diluted Earnings per Share	$0.54	$0.78	$0.70	$0.99	$0.77	$1.03	$0.94	$0.66	$0.79	$0.85	$0.93
Weighted Average Diluted Shares Outstanding	1.48B	1.49B	1.50B	1.53B	1.53B	1.53B	1.54B	1.57B	1.56B	1.57B	1.59B
Weighted Average Basic & Diluted Shares Outstanding	1.48B	1.48B	1.49B	1.50B	1.51B	1.52B	1.52B	1.53B	1.54B	1.55B	1.56B
Cash Dividends to Common per Share	$0.40	$0.40	$0.37	$0.37	$0.37	$0.37	$0.34	$0.34	$0.34	$0.34	$0.31

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020	5/31/2019	5/31/2018	5/31/2017	5/31/2016	5/31/2015
Net Change in Cash & Equivalents	2,419	-1,133	-1,315	1,541	3,882	217	441	670	-714	1,632
Net Cash From Operating Activities	7,429	5,841	5,188	6,657	2,485	5,903	4,955	3,846	3,399	4,680
Net Cash From Continuing Operating Activities	7,429	5,841	5,188	6,657	2,485	5,903	4,955	3,846	3,399	4,680
Net Income / (Loss) Continuing Operations	5,700	5,070	6,046	5,727	2,539	4,029	1,933	4,240	3,760	3,273
Consolidated Net Income / (Loss)	5,700	5,070	6,046	5,727	2,539	4,029	1,933	4,240	3,760	3,273
Depreciation Expense	796	703	717	744	721	705	747	706	649	606
Amortization Expense	48	156	123	53	398	15	27	10	13	43
Non-Cash Adjustments To Reconcile Net Income	666	542	612	473	452	558	119	98	334	615
Changes in Operating Assets and Liabilities, net	219	-630	-2,310	-340	-1,625	596	2,129	-1,208	-1,357	143
Net Cash From Investing Activities	894	564	-1,524	-3,800	-1,028	-264	276	-1,008	-1,034	-175
Net Cash From Continuing Investing Activities	894	564	-1,524	-3,800	-1,028	-264	276	-1,008	-1,034	-175
Purchase of Property, Plant & Equipment	-812	-969	-758	-695	-1,086	-1,119	-1,028	-1,105	-1,143	-963
Purchase of Investments	-4,767	-6,059	-12,913	-9,961	-2,426	-2,937	-4,783	-5,928	-5,217	-5,086
Sale and/or Maturity of Investments	6,488	7,540	12,166	6,685	2,453	3,787	6,109	6,046	5,310	5,871
Other Investing Activities, net	-15	52	-19	171	31	5.00	-22	-34	6.00	0.00
Net Cash From Financing Activities	-5,888	-7,447	-4,836	-1,459	2,491	-5,293	-4,835	-2,148	-2,974	-2,790
Net Cash From Continuing Financing Activities	-5,888	-7,447	-4,836	-1,459	2,491	-5,293	-4,835	-2,148	-2,974	-2,790
Repayment of Debt	-136	-602	-151	-333	-58	-375	-84	-61	-180	-89
Repurchase of Common Equity	-4,250	-5,480	-4,014	-608	-3,067	-4,286	-4,254	-3,223	-3,238	-2,534
Payment of Dividends	-2,169	-2,012	-1,837	-1,638	-1,452	-1,332	-1,243	-1,133	-1,022	-899
Issuance of Debt	0.00	-4.00	15	-52	6,183	0.00	13	1,809	981	0.00
Issuance of Common Equity	667	651	1,151	1,172	885	700	733	489	507	514
Other Net Changes in Cash	-16	-91	-143	143	-66	-	-	-	-	-
Cash Interest Paid	381	347	290	293	140	153	125	98	70	53
Cash Income Taxes Paid	1,299	1,517	1,231	1,177	1,028	757	529	703	748	1,262

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 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Net Change in Cash & Equivalents	622	-506	-1,375	900	1,041	1,741	-1,263	486	465	-736	-1,348
Net Cash From Operating Activities	1,792	1,049	394	2,619	2,059	2,817	-66	2,253	2,230	1,001	357
Net Cash From Continuing Operating Activities	1,792	1,049	394	2,619	2,059	2,817	-66	2,253	2,230	1,001	357
Net Income / (Loss) Continuing Operations	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331	1,468
Consolidated Net Income / (Loss)	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331	1,468
Depreciation Expense	198	190	188	207	207	191	191	187	174	173	169
Amortization Expense	44	-5.00	-4.00	-3.00	63	-7.00	-5.00	49	-30	146	-9.00
Non-Cash Adjustments To Reconcile Net Income	139	253	176	129	178	170	189	183	120	53	186
Changes in Operating Assets and Liabilities, net	617	-552	-1,017	786	439	885	-1,891	803	726	-702	-1,457
Net Cash From Investing Activities	-49	-74	-166	-290	309	457	418	427	160	191	-214
Net Cash From Continuing Investing Activities	-49	-74	-166	-290	309	457	418	427	160	191	-214
Purchase of Property, Plant & Equipment	-81	-129	-120	-213	-141	-205	-253	-269	-200	-236	-264
Purchase of Investments	-580	-1,116	-968	-1,430	-1,131	-1,062	-1,144	-1,215	-1,344	-1,031	-2,469
Sale and/or Maturity of Investments	614	1,161	922	1,359	1,580	1,733	1,816	1,921	1,696	1,543	2,380
Other Investing Activities, net	-2.00	10	0.00	-6.00	1.00	-9.00	-1.00	-10	8.00	-85	139
Net Cash From Financing Activities	-1,106	-1,448	-1,622	-1,420	-1,317	-1,552	-1,599	-2,181	-1,945	-1,917	-1,404
Net Cash From Continuing Financing Activities	-1,106	-1,448	-1,622	-1,420	-1,317	-1,552	-1,599	-2,181	-1,945	-1,917	-1,404
Repayment of Debt	-16	-46	-17	-14	-22	-59	-41	-508	-26	-46	-22
Repurchase of Common Equity	-506	-1,096	-1,184	-1,036	-883	-1,198	-1,133	-1,379	-1,551	-1,567	-983
Payment of Dividends	-594	-557	-558	-560	-562	-523	-524	-524	-528	-480	-480
Issuance of Debt	-45	37	6.00	-	-	-	0.00	-8.00	7.00	-2.00	-1.00
Issuance of Common Equity	55	214	131	190	150	228	99	238	153	178	82
Other Net Changes in Cash	-15	-33	19	-9.00	-10	19	-16	-13	20	-11	-87

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

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	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Total Assets	37,793	37,959	37,867	38,110	37,356	37,203	36,786	37,531	38,294	39,647	41,088
Total Current Assets	24,609	24,980	25,040	25,382	24,753	24,631	24,250	25,202	26,035	27,447	28,877
Cash & Equivalents	8,601	7,979	8,485	9,860	8,960	7,919	6,178	7,441	6,955	6,490	7,226
Short-Term Investments	1,792	1,782	1,809	1,722	1,613	2,008	2,612	3,234	3,847	4,131	4,650
Accounts Receivable	4,491	5,302	4,764	4,427	4,526	4,782	4,749	4,131	4,513	5,437	4,960
Inventories, net	7,539	7,981	8,253	7,519	7,726	7,979	8,698	8,454	8,905	9,326	9,662
Prepaid Expenses	2,186	1,936	1,729	1,854	1,928	1,943	2,013	1,942	1,815	2,063	2,379
Plant, Property, & Equipment, net	4,717	4,857	4,948	5,000	5,082	5,153	5,109	5,081	4,939	4,854	4,778
Total Noncurrent Assets	8,467	8,122	7,879	7,728	7,521	7,419	7,427	7,248	7,320	7,346	7,433
Goodwill	239	240	240	240	240	281	281	281	281	281	282
Intangible Assets	259	259	259	259	259	269	272	274	277	280	283
Noncurrent Deferred & Refundable Income Taxes	5,355	4,887	4,588	4,511	4,166	3,926	3,935	3,770	3,928	3,976	3,988
Other Noncurrent Operating Assets	2,614	2,736	2,792	2,718	2,856	2,943	2,939	2,923	2,834	2,809	2,880
Total Liabilities & Shareholders' Equity	37,793	37,959	37,867	38,110	37,356	37,203	36,786	37,531	38,294	39,647	41,088
Total Liabilities	23,786	23,922	23,923	23,680	23,130	23,057	22,815	23,527	23,763	24,375	25,266
Total Current Liabilities	11,223	11,246	10,628	10,593	9,029	8,999	8,461	9,256	9,548	10,199	10,919
Short-Term Debt	1,004	1,049	1,012	1,006	6.00	6.00	6.00	6.00	514	507	509
Accounts Payable	3,106	3,255	3,357	2,851	2,340	2,709	2,738	2,862	2,675	2,810	3,371
Accrued Expenses	5,905	5,694	5,075	5,725	5,818	5,470	4,987	5,723	5,594	6,020	6,277
Current Deferred & Payable Income Tax Liabilities	734	767	693	534	391	358	295	240	330	436	338
Other Current Liabilities	474	481	491	477	474	456	435	425	435	426	424
Total Noncurrent Liabilities	12,563	12,676	13,295	13,087	14,101	14,058	14,354	14,271	14,215	14,176	14,347
Long-Term Debt	7,956	7,973	7,998	7,903	8,930	8,930	8,929	8,927	8,925	8,924	8,922
Noncurrent Deferred & Payable Income Tax Liabilities	2,130	2,141	2,672	2,618	2,480	2,343	2,618	2,558	2,598	2,584	2,689
Other Noncurrent Operating Liabilities	2,477	2,562	2,625	2,566	2,691	2,785	2,807	2,786	2,692	2,668	2,736
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	14,007	14,037	13,944	14,430	14,226	14,146	13,971	14,004	14,531	15,272	15,822
Total Preferred & Common Equity	14,007	14,037	13,944	14,430	14,226	14,146	13,971	14,004	14,531	15,272	15,822
Total Common Equity	14,007	14,037	13,944	14,430	14,226	14,146	13,971	14,004	14,531	15,272	15,819
Common Stock	13,919	13,781	13,560	13,412	13,131	12,874	12,593	12,415	12,077	11,854	11,648
Retained Earnings	-175	54	411	965	970	1,151	1,242	1,358	2,152	2,859	3,535
Accumulated Other Comprehensive Income / (Loss)	263	202	-27	53	125	121	136	231	302	559	636

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

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

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

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022	8/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.33%	-7.72%	-10.43%	-1.71%	0.31%	0.55%	1.99%	4.83%	13.97%	17.24%	3.58%
EBITDA Growth	-34.16%	-24.33%	-19.56%	29.09%	0.50%	4.99%	-10.05%	-14.97%	-15.32%	13.49%	-14.16%
EBIT Growth	-38.91%	-26.74%	-21.69%	37.36%	-8.03%	14.05%	-12.33%	-13.86%	-14.68%	7.07%	-14.89%
NOPAT Growth	-33.53%	-24.14%	-31.11%	32.99%	-5.92%	17.04%	3.68%	-34.29%	-12.95%	-1.15%	-27.98%
Net Income Growth	-32.25%	-26.30%	-27.52%	45.49%	-5.48%	18.56%	-1.23%	-28.35%	-11.17%	-0.45%	-21.66%
EPS Growth	-29.87%	-24.27%	-25.53%	50.00%	-2.53%	21.18%	1.08%	-25.84%	-9.20%	2.41%	-19.83%
Operating Cash Flow Growth	-12.97%	-62.76%	696.97%	16.25%	-7.67%	181.42%	-118.49%	95.74%	1,219.53%	-63.69%	-67.87%
Free Cash Flow Firm Growth	-55.36%	-59.03%	261.18%	299.85%	238.58%	168.23%	134.69%	131.44%	-111.05%	-1,186.65%	-275.84%
Invested Capital Growth	-0.12%	1.09%	-10.31%	-4.12%	-4.40%	-6.58%	5.52%	4.68%	22.38%	52.29%	32.73%
Revenue Q/Q Growth	-8.78%	6.60%	-8.07%	1.42%	-7.16%	3.47%	0.89%	3.51%	-6.95%	4.95%	3.70%
EBITDA Q/Q Growth	-32.28%	8.91%	-22.86%	15.72%	-22.17%	15.78%	23.80%	-9.91%	-18.69%	-0.80%	17.02%
EBIT Q/Q Growth	-40.66%	10.13%	-24.45%	23.74%	-28.84%	17.72%	32.51%	-17.14%	-11.76%	-9.51%	30.20%
NOPAT Q/Q Growth	-34.78%	16.92%	-27.64%	20.47%	-25.57%	6.17%	39.69%	-14.77%	-7.40%	-5.95%	-11.46%
Net Income Q/Q Growth	-31.73%	10.66%	-29.93%	27.99%	-25.73%	8.83%	40.64%	-16.85%	-6.84%	-9.33%	2.02%
EPS Q/Q Growth	-30.77%	11.43%	-29.29%	28.57%	-25.24%	9.57%	42.42%	-16.46%	-7.06%	-8.60%	4.49%
Operating Cash Flow Q/Q Growth	70.83%	166.24%	-84.96%	27.20%	-26.91%	4,368.18%	-102.93%	1.03%	122.78%	180.39%	-68.98%
Free Cash Flow Firm Q/Q Growth	-23.89%	-59.08%	31.36%	9.11%	-30.15%	260.76%	45.42%	137.81%	65.61%	-83.45%	-31.77%
Invested Capital Q/Q Growth	-5.44%	5.04%	7.68%	-6.61%	-4.30%	-6.81%	15.12%	-6.88%	-6.49%	5.27%	14.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.49%	43.62%	45.36%	44.69%	44.75%	44.60%	44.21%	43.63%	43.35%	42.89%	44.26%
EBITDA Margin	9.48%	12.77%	12.49%	14.89%	13.05%	15.57%	13.91%	11.34%	13.03%	14.91%	15.77%
Operating Margin	6.99%	11.20%	10.43%	12.26%	10.75%	13.63%	12.40%	9.52%	11.40%	11.92%	13.36%
EBIT Margin	7.33%	11.27%	10.91%	13.27%	10.88%	14.19%	12.47%	9.50%	11.86%	12.51%	14.51%
Profit (Net Income) Margin	7.05%	9.41%	9.07%	11.90%	9.43%	11.79%	11.21%	8.04%	10.01%	10.00%	11.57%
Tax Burden Percent	94.08%	82.13%	80.41%	86.91%	83.48%	82.10%	87.99%	82.74%	83.95%	80.67%	80.31%
Interest Burden Percent	102.18%	101.72%	103.40%	103.17%	103.85%	101.16%	102.11%	102.30%	100.48%	99.04%	99.29%
Effective Tax Rate	5.92%	17.87%	19.59%	13.09%	16.52%	17.90%	12.01%	17.26%	16.05%	19.33%	19.69%
Return on Invested Capital (ROIC)	25.00%	34.07%	31.34%	45.58%	35.94%	42.36%	40.84%	33.66%	40.49%	40.48%	43.13%
ROIC Less NNEP Spread (ROIC-NNEP)	21.57%	31.03%	17.50%	38.50%	32.15%	35.05%	37.47%	32.88%	38.47%	39.00%	39.95%
Return on Net Nonoperating Assets (RNNOA)	-2.35%	-1.91%	-0.71%	-5.98%	-3.35%	-2.60%	-2.89%	-5.96%	-7.10%	-8.87%	-8.89%
Return on Equity (ROE)	22.66%	32.17%	30.62%	39.61%	32.58%	39.76%	37.95%	27.70%	33.39%	31.61%	34.25%
Cash Return on Invested Capital (CROIC)	33.47%	33.47%	47.71%	48.91%	43.59%	44.29%	30.17%	35.77%	24.45%	5.79%	19.00%
Operating Return on Assets (OROA)	9.33%	14.68%	14.61%	18.02%	14.83%	19.04%	16.49%	12.50%	15.63%	15.64%	17.32%
Return on Assets (ROA)	8.97%	12.27%	12.15%	16.16%	12.86%	15.81%	14.81%	10.58%	13.18%	12.50%	13.81%
Return on Common Equity (ROCE)	22.66%	32.17%	30.62%	39.61%	32.58%	39.76%	37.94%	27.70%	33.39%	31.61%	34.24%
Return on Equity Simple (ROE_SIMPLE)	32.18%	34.81%	38.02%	0.00%	36.77%	37.46%	36.16%	0.00%	37.70%	36.89%	35.65%
Net Operating Profit after Tax (NOPAT)	741	1,137	972	1,344	1,115	1,498	1,411	1,010	1,185	1,280	1,361
NOPAT Margin	6.58%	9.20%	8.39%	10.66%	8.97%	11.19%	10.91%	7.88%	9.57%	9.61%	10.73%
Net Nonoperating Expense Percent (NNEP)	3.43%	3.04%	13.84%	7.09%	3.78%	7.30%	3.37%	0.78%	2.02%	1.48%	3.18%
Return On Investment Capital (ROIC_SIMPLE)	3.23%	4.93%	4.24%	5.76%	4.81%	6.49%	6.16%	4.40%	4.95%	5.18%	5.39%
Cost of Revenue to Revenue	58.51%	56.38%	54.64%	55.31%	55.25%	55.40%	55.79%	56.37%	56.65%	57.11%	55.74%
SG&A Expenses to Revenue	24.84%	23.34%	24.35%	23.77%	25.87%	22.65%	23.55%	25.59%	24.50%	22.70%	23.47%
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	34.49%	32.42%	34.93%	32.43%	34.00%	30.97%	31.81%	34.11%	31.95%	30.97%	30.90%
Earnings before Interest and Taxes (EBIT)	826	1,392	1,264	1,673	1,352	1,900	1,614	1,218	1,470	1,666	1,841
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,068	1,577	1,448	1,877	1,622	2,084	1,800	1,454	1,614	1,985	2,001
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.75	8.61	9.13	10.03	11.08	11.78	10.97	11.29	12.24	8.71	10.13
Price to Tangible Book Value (P/TBV)	9.07	8.93	9.47	10.39	11.48	12.26	11.42	11.75	12.73	9.04	10.51
Price to Revenue (P/Rev)	2.56	2.47	2.55	2.82	3.06	3.23	2.98	3.09	3.51	2.71	3.40
Price to Earnings (P/E)	27.18	24.75	24.02	25.38	30.13	31.46	30.33	31.18	32.47	23.61	28.42
Dividend Yield	1.91%	1.90%	1.77%	1.52%	1.37%	1.27%	1.34%	1.27%	1.09%	1.16%	1.16%
Earnings Yield	3.68%	4.04%	4.16%	3.94%	3.32%	3.18%	3.30%	3.21%	3.08%	4.24%	3.52%
Enterprise Value to Invested Capital (EV/IC)	9.63	9.04	9.96	12.08	12.39	12.60	10.87	12.75	13.40	9.36	11.80
Enterprise Value to Revenue (EV/Rev)	2.53	2.45	2.52	2.76	3.02	3.21	2.98	3.05	3.49	2.68	3.35
Enterprise Value to EBITDA (EV/EBITDA)	20.29	18.42	17.93	19.23	22.41	23.83	22.38	22.16	24.15	17.34	21.43
Enterprise Value to EBIT (EV/EBIT)	23.49	21.15	20.36	21.72	25.64	26.72	25.70	25.23	27.62	19.84	24.16
Enterprise Value to NOPAT (EV/NOPAT)	28.86	26.29	25.56	26.45	30.99	32.46	31.39	32.32	33.10	23.92	28.56
Enterprise Value to Operating Cash Flow (EV/OCF)	20.69	19.63	15.98	19.12	22.09	22.91	28.31	26.76	37.25	49.23	35.60
Enterprise Value to Free Cash Flow (EV/FCFF)	28.76	27.14	19.73	24.18	27.79	27.47	36.98	36.45	60.34	195.18	70.83
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.64	0.65	0.62	0.63	0.63	0.64	0.64	0.65	0.62	0.60
Long-Term Debt to Equity	0.57	0.57	0.57	0.55	0.63	0.63	0.64	0.64	0.61	0.58	0.56
Financial Leverage	-0.11	-0.06	-0.04	-0.16	-0.10	-0.07	-0.08	-0.18	-0.18	-0.23	-0.22
Leverage Ratio	2.66	2.67	2.67	2.66	2.63	2.61	2.61	2.66	2.62	2.60	2.62
Compound Leverage Factor	2.72	2.71	2.77	2.74	2.73	2.64	2.67	2.72	2.63	2.58	2.60
Debt to Total Capital	39.01%	39.13%	39.25%	38.17%	38.58%	38.71%	39.01%	38.95%	39.38%	38.18%	37.35%
Short-Term Debt to Total Capital	4.37%	4.55%	4.41%	4.31%	0.03%	0.03%	0.03%	0.03%	2.14%	2.05%	2.02%
Long-Term Debt to Total Capital	34.64%	34.58%	34.84%	33.86%	38.55%	38.69%	38.98%	38.92%	37.23%	36.13%	35.33%
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	60.99%	60.87%	60.75%	61.83%	61.42%	61.29%	60.99%	61.05%	60.62%	61.82%	62.64%
Debt to EBITDA	1.50	1.38	1.28	1.21	1.28	1.29	1.30	1.27	1.29	1.24	1.28
Net Debt to EBITDA	-0.24	-0.11	-0.18	-0.36	-0.24	-0.14	0.02	-0.25	-0.19	-0.16	-0.33
Long-Term Debt to EBITDA	1.33	1.22	1.14	1.07	1.28	1.28	1.30	1.27	1.22	1.17	1.21
Debt to NOPAT	2.14	1.97	1.83	1.66	1.78	1.75	1.83	1.85	1.77	1.71	1.71
Net Debt to NOPAT	-0.34	-0.16	-0.26	-0.50	-0.33	-0.19	0.03	-0.36	-0.26	-0.22	-0.44
Long-Term Debt to NOPAT	1.90	1.74	1.62	1.47	1.77	1.75	1.83	1.85	1.67	1.62	1.61
Altman Z-Score	4.85	4.88	5.10	5.66	6.13	6.44	6.14	6.06	6.54	5.27	5.75
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.19	2.22	2.36	2.40	2.74	2.74	2.87	2.72	2.73	2.69	2.64
Quick Ratio	1.33	1.34	1.42	1.51	1.67	1.63	1.60	1.60	1.60	1.57	1.54
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	756	994	2,428	1,849	1,694	2,425	672	462	-1,223	-3,555	-1,938
Operating Cash Flow to CapEx	2,212.35%	813.18%	328.33%	1,229.58%	1,460.28%	1,374.15%	-26.09%	837.55%	1,115.00%	424.15%	135.23%
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	1.27	1.30	1.34	1.36	1.36	1.34	1.32	1.32	1.32	1.25	1.19
Accounts Receivable Turnover	10.61	9.71	10.51	12.00	11.41	10.09	10.60	11.64	12.14	10.70	10.14
Inventory Turnover	3.52	3.40	3.26	3.57	3.46	3.34	3.17	3.43	3.42	3.44	3.15
Fixed Asset Turnover	9.76	9.79	9.95	10.19	10.29	10.30	10.41	10.38	10.39	10.16	9.77
Accounts Payable Turnover	9.87	9.10	9.05	9.97	11.46	10.47	9.52	9.30	10.44	9.71	9.35
Days Sales Outstanding (DSO)	34.41	37.57	34.71	30.41	31.98	36.18	34.43	31.35	30.06	34.13	36.00
Days Inventory Outstanding (DIO)	103.71	107.34	112.13	102.37	105.63	109.34	115.26	106.47	106.61	106.18	115.95
Days Payable Outstanding (DPO)	37.00	40.11	40.32	36.62	31.85	34.87	38.35	39.24	34.96	37.59	39.02
Cash Conversion Cycle (CCC)	101.12	104.80	106.53	96.17	105.76	110.65	111.33	98.57	101.71	102.72	112.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,574	13,298	12,660	11,757	12,589	13,155	14,116	12,262	13,168	14,082	13,377
Invested Capital Turnover	3.80	3.70	3.74	4.28	4.01	3.78	3.74	4.27	4.23	4.21	4.02
Increase / (Decrease) in Invested Capital	-15	143	-1,456	-505	-579	-927	739	548	2,408	4,835	3,299
Enterprise Value (EV)	121,108	120,167	126,038	142,008	155,997	165,698	153,381	156,322	176,511	131,838	157,847
Market Capitalization	122,541	120,906	127,322	144,681	157,634	166,689	153,236	158,064	177,874	133,028	160,292
Book Value per Share	$9.47	$9.43	$9.30	$9.56	$9.39	$9.29	$9.13	$9.11	$9.37	$9.76	$10.09
Tangible Book Value per Share	$9.13	$9.10	$8.97	$9.23	$9.06	$8.93	$8.77	$8.75	$9.01	$9.40	$9.72
Total Capital	22,967	23,059	22,954	23,339	23,162	23,082	22,906	22,937	23,970	24,703	25,253
Total Debt	8,960	9,022	9,010	8,909	8,936	8,936	8,935	8,933	9,439	9,431	9,431
Total Long-Term Debt	7,956	7,973	7,998	7,903	8,930	8,930	8,929	8,927	8,925	8,924	8,922
Net Debt	-1,433	-739	-1,284	-2,673	-1,637	-991	145	-1,742	-1,363	-1,190	-2,445
Capital Expenditures (CapEx)	81	129	120	213	141	205	253	269	200	236	264
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,997	5,022	5,130	4,213	5,157	5,711	7,005	5,277	6,199	7,134	6,591
Debt-free Net Working Capital (DFNWC)	14,390	14,783	15,424	15,795	15,730	15,638	15,795	15,952	17,001	17,755	18,467
Net Working Capital (NWC)	13,386	13,734	14,412	14,789	15,724	15,632	15,789	15,946	16,487	17,248	17,958
Net Nonoperating Expense (NNE)	-53	-26	-79	-156	-57	-80	-39	-21	-55	-51	-107
Net Nonoperating Obligations (NNO)	-1,433	-739	-1,284	-2,673	-1,637	-991	145	-1,742	-1,363	-1,190	-2,445
Total Depreciation and Amortization (D&A)	242	185	184	204	270	184	186	236	144	319	160
Debt-free, Cash-free Net Working Capital to Revenue	8.36%	10.25%	10.26%	8.20%	10.00%	11.08%	13.61%	10.30%	12.24%	14.53%	13.98%
Debt-free Net Working Capital to Revenue	30.09%	30.18%	30.84%	30.75%	30.50%	30.34%	30.69%	31.15%	33.58%	36.16%	39.17%
Net Working Capital to Revenue	27.99%	28.04%	28.82%	28.79%	30.48%	30.33%	30.68%	31.13%	32.57%	35.12%	38.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.54	$0.78	$0.70	$1.00	$0.77	$1.04	$0.95	$0.68	$0.80	$0.85	$0.94
Adjusted Weighted Average Basic Shares Outstanding	1.48B	1.49B	1.50B	1.52B	1.51B	1.52B	1.53B	1.55B	1.54B	1.56B	1.57B
Adjusted Diluted Earnings per Share	$0.54	$0.78	$0.70	$0.99	$0.77	$1.03	$0.94	$0.66	$0.79	$0.85	$0.93
Adjusted Weighted Average Diluted Shares Outstanding	1.48B	1.49B	1.50B	1.53B	1.53B	1.53B	1.54B	1.57B	1.56B	1.57B	1.59B
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	1.48B	1.48B	1.49B	1.50B	1.51B	1.52B	1.52B	1.53B	1.54B	1.55B	1.56B
Normalized Net Operating Profit after Tax (NOPAT)	741	1,137	972	1,344	1,115	1,498	1,411	1,010	1,185	1,280	1,361
Normalized NOPAT Margin	6.58%	9.20%	8.39%	10.66%	8.97%	11.19%	10.91%	7.88%	9.57%	9.61%	10.73%
Pre Tax Income Margin	7.49%	11.46%	11.28%	13.69%	11.30%	14.36%	12.74%	9.72%	11.92%	12.39%	14.41%
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	50.33%	45.78%	41.56%	38.05%	40.78%	39.61%	40.70%	39.68%	35.94%	34.15%	33.37%
Augmented Payout Ratio	135.12%	131.72%	122.69%	112.61%	128.58%	138.89%	152.14%	147.77%	130.72%	120.07%	108.63%

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 2024 ended on May 31, 2024.

How has NIKE's net income changed over the last 9 years?

NIKE's net income appears to be on an upward trend, with a most recent value of $5.70 billion in 2024, rising from $3.27 billion in 2015. The previous period was $5.07 billion in 2023. View NIKE's forecast to see where analysts expect NIKE to go next.

What is NIKE's operating income?

NIKE's total operating income in 2024 was $6.31 billion, based on the following breakdown:

Total Gross Profit: $22.89 billion
Total Operating Expenses: $16.58 billion

How has NIKE revenue changed over the last 9 years?

Over the last 9 years, NIKE's total revenue changed from $30.60 billion in 2015 to $51.36 billion in 2024, a change of 67.8%.

How much debt does NIKE have?

NIKE's total liabilities were at $23.68 billion at the end of 2024, a 0.7% increase from 2023, and a 166.4% increase since 2015.

How much cash does NIKE have?

In the past 9 years, NIKE's cash and equivalents has ranged from $3.14 billion in 2016 to $9.89 billion in 2021, and is currently $9.86 billion as of their latest financial filing in 2024.

How has NIKE's book value per share changed over the last 9 years?

Over the last 9 years, NIKE's book value per share changed from 7.39 in 2015 to 9.56 in 2024, a change of 29.4%.

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This page (NYSE:NKE) was last updated on 5/20/2025 by MarketBeat.com Staff

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NIKE (NKE) Financials

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NIKE (NKE) Financials

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