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NIKE (NKE) Financials

NIKE logo
$41.86 +0.16 (+0.37%)
Closing price 07/24/2026 03:59 PM Eastern
Extended Trading
$41.63 -0.22 (-0.54%)
As of 07/24/2026 07:34 PM 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 Massive. Learn more.
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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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 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 5/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219 3,108
Consolidated Net Income / (Loss)		 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219 3,108
Net Income / (Loss) Continuing Operations		 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219 3,108
Total Pre-Tax Income 		4,623 4,886 4,325 4,801 2,887 6,661 6,651 6,201 6,700 3,885 3,900
Total Operating Income		 4,502 4,749 4,445 4,772 3,115 6,937 6,675 5,915 6,311 3,702 3,797
Total Gross Profit		 14,971 15,312 15,956 17,474 16,241 19,962 21,479 22,292 22,887 19,790 19,911
Total Revenue		 32,376 34,350 36,397 39,117 37,403 44,538 46,710 51,217 51,362 46,309 46,398
Operating Revenue		 32,376 34,350 36,397 39,117 37,403 44,538 46,710 51,217 51,362 46,309 46,398
Total Cost of Revenue		 17,405 19,038 20,441 21,643 21,162 24,576 25,231 28,925 28,475 26,519 26,487
Operating Cost of Revenue		 17,405 19,038 20,441 21,643 21,162 24,576 25,231 28,925 28,475 26,519 26,487
Total Operating Expenses		 10,469 10,563 11,511 12,702 13,126 13,025 14,804 16,377 16,576 16,088 16,114
Selling, General & Admin Expense		 7,191 7,222 7,934 8,949 9,534 9,911 10,954 12,317 12,291 11,399 11,360
Marketing Expense		 3,278 3,341 3,577 3,753 3,592 3,114 3,850 4,060 4,285 4,689 4,754
Total Other Income / (Expense), net		 121 137 -120 29 -228 -276 -24 286 389 183 103
Interest & Investment Income		 -19 -59 -54 -49 -89 -262 -205 6.00 161 107 50
Other Income / (Expense), net		 140 196 -66 78 -139 -14 181 280 228 76 53
Income Tax Expense		 863 646 2,392 772 348 934 605 1,131 1,000 666 792
Basic Earnings per Share		 $2.21 $2.56 $1.19 $2.55 $1.63 $3.64 $3.83 $3.27 $3.76 $2.17 $2.10
Weighted Average Basic Shares Outstanding		 1.70B 1.66B 1.62B 1.58B 1.56B 1.57B 1.58B 1.55B 1.52B 1.48B 1.48B
Diluted Earnings per Share		 $2.16 $2.51 $1.17 $2.49 $1.60 $3.56 $3.75 $3.23 $3.73 $2.16 $2.10
Weighted Average Diluted Shares Outstanding		 1.70B 1.69B 1.66B 1.62B 1.59B 1.61B 1.61B 1.57B 1.53B 1.49B 1.48B
Weighted Average Basic & Diluted Shares Outstanding		 1.70B 1.66B 1.62B 1.58B 1.56B 1.58B 1.57B 1.53B 1.50B 1.48B 1.48B
Cash Dividends to Common per Share		 $0.62 $0.70 $0.78 $0.86 $0.96 $1.07 $1.19 $1.33 $1.45 $1.57 $1.63

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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 1,578 1,172 1,500 1,051 1,163 794 211 727 792 520 1,069
Consolidated Net Income / (Loss)		 1,578 1,172 1,500 1,051 1,163 794 211 727 792 520 1,069
Net Income / (Loss) Continuing Operations		 1,578 1,172 1,500 1,051 1,163 794 211 727 792 520 1,069
Total Pre-Tax Income 		1,922 1,404 1,726 1,307 1,416 844 318 922 999 650 1,329
Total Operating Income		 1,825 1,336 1,546 1,209 1,384 788 321 927 1,006 553 1,311
Total Gross Profit		 5,971 5,562 5,634 5,257 5,389 4,675 4,469 4,943 5,045 4,530 5,393
Total Revenue		 13,388 12,429 12,606 11,589 12,354 11,269 11,097 11,720 12,427 11,279 10,972
Operating Revenue		 13,388 12,429 12,606 11,589 12,354 11,269 11,097 11,720 12,427 11,279 10,972
Total Cost of Revenue		 7,417 6,867 6,972 6,332 6,965 6,594 6,628 6,777 7,382 6,749 5,579
Operating Cost of Revenue		 7,417 6,867 6,972 6,332 6,965 6,594 6,628 6,777 7,382 6,749 5,579
Total Operating Expenses		 4,146 4,226 4,088 4,048 4,005 3,887 4,148 4,016 4,039 3,977 4,082
Selling, General & Admin Expense		 3,032 3,215 2,997 2,822 2,883 2,799 2,895 2,828 2,766 2,887 2,879
Marketing Expense		 1,114 1,011 1,091 1,226 1,122 1,088 1,253 1,188 1,273 1,090 1,203
Total Other Income / (Expense), net		 97 68 180 98 32 56 -3.00 -5.00 -7.00 97 18
Interest & Investment Income		 22 52 53 43 24 18 22 18 9.00 15 8.00
Other Income / (Expense), net		 75 16 127 55 8.00 38 -25 -23 -16 82 10
Income Tax Expense		 344 232 226 256 253 50 107 195 207 130 260
Basic Earnings per Share		 $1.04 $0.77 $1.00 $0.70 $0.78 $0.54 $0.15 $0.49 $0.54 $0.35 $0.72
Weighted Average Basic Shares Outstanding		 1.52B 1.51B 1.52B 1.50B 1.49B 1.48B 1.48B 1.48B 1.48B 1.48B 1.48B
Diluted Earnings per Share		 $1.03 $0.77 $0.99 $0.70 $0.78 $0.54 $0.14 $0.49 $0.53 $0.35 $0.73
Weighted Average Diluted Shares Outstanding		 1.53B 1.53B 1.53B 1.50B 1.49B 1.48B 1.49B 1.48B 1.48B 1.48B 1.48B
Weighted Average Basic & Diluted Shares Outstanding		 1.52B 1.51B 1.50B 1.49B 1.48B 1.48B 1.48B 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 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 5/31/2026
Net Change in Cash & Equivalents		 -714 670 441 217 3,882 1,541 -1,315 -1,133 2,419 -2,396 99
Net Cash From Operating Activities		 3,399 3,846 4,955 5,903 2,485 6,657 5,188 5,841 7,429 3,698 2,868
Net Cash From Continuing Operating Activities		 3,399 3,846 4,955 5,903 2,485 6,657 5,188 5,841 7,429 3,698 2,868
Net Income / (Loss) Continuing Operations		 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219 3,108
Consolidated Net Income / (Loss)		 3,760 4,240 1,933 4,029 2,539 5,727 6,046 5,070 5,700 3,219 3,108
Depreciation Expense		 649 706 747 705 721 744 717 703 796 775 747
Non-Cash Adjustments To Reconcile Net Income		 334 98 119 558 452 473 612 698 714 779 787
Changes in Operating Assets and Liabilities, net		 -1,357 -1,208 2,129 596 -1,625 -340 -2,310 -630 219 -1,075 -1,774
Net Cash From Investing Activities		 -1,034 -1,008 276 -264 -1,028 -3,800 -1,524 564 894 -275 -488
Net Cash From Continuing Investing Activities		 -1,034 -1,008 276 -264 -1,028 -3,800 -1,524 564 894 -275 -488
Purchase of Property, Plant & Equipment		 -1,143 -1,105 -1,028 -1,119 -1,086 -695 -758 -969 -812 -430 -684
Purchase of Investments		 -5,217 -5,928 -4,783 -2,937 -2,426 -9,961 -12,913 -6,059 -4,767 -3,234 -1,316
Sale and/or Maturity of Investments		 5,310 6,046 6,109 3,787 2,453 6,685 12,166 7,540 6,488 3,381 1,577
Other Investing Activities, net		 6.00 -34 -22 5.00 31 171 -19 52 -15 8.00 -65
Net Cash From Financing Activities		 -2,974 -2,148 -4,835 -5,293 2,491 -1,459 -4,836 -7,447 -5,888 -5,820 -2,292
Net Cash From Continuing Financing Activities		 -2,974 -2,148 -4,835 -5,293 2,491 -1,459 -4,836 -7,447 -5,888 -5,820 -2,292
Repayment of Debt		 -180 -61 -84 -375 -58 -333 -151 -602 -136 -1,086 -93
Repurchase of Common Equity		 -3,238 -3,223 -4,254 -4,286 -3,067 -608 -4,014 -5,480 -4,250 -2,985 -146
Payment of Dividends		 -1,022 -1,133 -1,243 -1,332 -1,452 -1,638 -1,837 -2,012 -2,169 -2,300 -2,407
Issuance of Common Equity		 507 489 733 700 885 1,172 1,151 651 667 551 354
Effect of Exchange Rate Changes		 -105 -20 45 -129 - - - - -16 1.00 11
Cash Interest Paid		 70 98 125 153 140 293 290 347 381 389 323

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 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
Net Change in Cash & Equivalents		 1,741 1,041 900 -1,375 -506 622 -1,137 -440 -50 -314 903
Net Cash From Operating Activities		 2,817 2,059 2,619 394 1,049 1,792 463 222 579 430 1,637
Net Cash From Continuing Operating Activities		 2,817 2,059 2,619 394 1,049 1,792 463 222 579 430 1,637
Net Income / (Loss) Continuing Operations		 1,578 1,172 1,500 1,051 1,163 794 211 727 792 520 1,069
Consolidated Net Income / (Loss)		 1,578 1,172 1,500 1,051 1,163 794 211 727 792 520 1,069
Depreciation Expense		 191 207 207 188 190 198 199 190 179 185 193
Non-Cash Adjustments To Reconcile Net Income		 170 178 129 172 253 139 211 227 197 172 191
Changes in Operating Assets and Liabilities, net		 885 439 786 -1,017 -552 617 -123 -922 -589 -447 184
Net Cash From Investing Activities		 457 309 -290 -166 -74 -49 14 -59 -49 -168 -212
Net Cash From Continuing Investing Activities		 457 309 -290 -166 -74 -49 14 -59 -49 -168 -212
Purchase of Property, Plant & Equipment		 -205 -141 -213 -120 -129 -81 -100 -207 -193 -146 -138
Purchase of Investments		 -1,062 -1,131 -1,430 -968 -1,116 -580 -570 -355 -281 -253 -427
Sale and/or Maturity of Investments		 1,733 1,580 1,359 922 1,161 614 684 503 428 291 355
Other Investing Activities, net		 -9.00 1.00 -6.00 - 10 -2.00 - - - -60 -2.00
Net Cash From Financing Activities		 -1,552 -1,317 -1,420 -1,622 -1,448 -1,106 -1,644 -598 -579 -601 -514
Net Cash From Continuing Financing Activities		 -1,552 -1,317 -1,420 -1,622 -1,448 -1,106 -1,644 -598 -579 -601 -514
Repayment of Debt		 -59 -22 -14 -17 -46 -16 -1,006 -7.00 -65 -9.00 -12
Payment of Dividends		 -523 -562 -560 -558 -557 -594 -591 -591 -598 -609 -609
Issuance of Common Equity		 228 150 190 131 214 55 151 127 107 17 103

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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 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 5/31/2026
Total Assets		 21,379 23,259 22,536 23,717 31,342 37,740 40,321 37,531 38,110 36,579 38,410
Total Current Assets		 15,025 16,061 15,134 16,525 20,556 26,291 28,213 25,202 25,382 23,362 24,603
Cash & Equivalents		 3,138 3,808 4,249 4,466 8,348 9,889 8,574 7,441 9,860 7,464 7,563
Short-Term Investments		 2,319 2,371 996 197 439 3,587 4,423 3,234 1,722 1,687 1,464
Accounts Receivable		 3,241 3,677 3,498 4,272 2,749 4,463 4,667 4,131 4,427 4,717 5,931
Inventories, net		 4,838 5,055 5,261 5,622 7,367 6,854 8,420 8,454 7,519 7,489 7,501
Prepaid Expenses		 1,489 1,150 1,130 1,968 1,653 1,498 2,129 1,942 1,854 2,005 2,144
Plant, Property, & Equipment, net		 3,520 3,989 4,454 4,744 4,866 4,904 4,791 5,081 5,000 4,828 4,796
Total Noncurrent Assets		 2,834 3,209 2,948 2,448 5,920 6,545 7,317 7,248 7,728 8,389 9,011
Goodwill		 131 139 154 154 223 242 284 281 240 240 240
Intangible Assets		 281 283 285 283 274 269 286 274 259 259 259
Noncurrent Deferred & Refundable Income Taxes		 2,422 2,787 2,509 2,011 2,326 2,921 3,821 3,770 4,511 5,178 5,674
Other Noncurrent Operating Assets		 - - - 0.00 3,097 3,113 2,926 2,923 2,718 2,712 2,838
Total Liabilities & Shareholders' Equity		 21,379 23,259 22,536 23,717 31,342 37,740 40,321 37,531 38,110 36,579 38,410
Total Liabilities		 9,121 10,852 12,724 14,677 23,287 24,973 25,040 23,527 23,680 23,366 23,545
Total Current Liabilities		 5,358 5,474 6,040 7,866 8,284 9,674 10,730 9,256 10,593 10,566 12,547
Short-Term Debt		 45 331 342 15 251 2.00 510 6.00 1,006 0.00 2,000
Accounts Payable		 2,191 2,048 2,279 2,612 2,248 2,836 3,358 2,862 2,851 3,479 3,600
Accrued Expenses		 3,037 3,011 3,269 5,010 5,184 6,063 6,220 5,723 5,725 5,916 6,092
Current Deferred & Payable Income Tax Liabilities		 85 84 150 229 156 306 222 240 534 669 377
Other Current Liabilities		 - - - 0.00 445 467 420 425 477 502 478
Total Noncurrent Liabilities		 3,763 5,378 6,684 6,811 15,003 15,299 14,310 14,271 13,087 12,800 10,998
Long-Term Debt		 1,993 3,471 3,468 3,464 9,406 9,413 8,920 8,927 7,903 7,961 5,942
Noncurrent Deferred & Payable Income Tax Liabilities		 1,770 1,907 3,216 3,347 2,684 2,955 2,613 2,558 2,618 2,289 2,443
Other Noncurrent Operating Liabilities		 - - - 0.00 2,913 2,931 2,777 2,786 2,566 2,550 2,613
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		 12,258 12,407 9,812 9,040 8,055 12,767 15,281 14,004 14,430 13,213 14,865
Total Preferred & Common Equity		 12,258 12,407 9,812 9,040 8,055 12,767 15,281 14,004 14,430 13,213 14,865
Total Common Equity		 12,258 12,407 9,809 9,040 8,055 12,767 15,281 14,004 14,430 13,213 14,865
Common Stock		 7,789 5,713 6,384 7,166 8,302 9,968 11,487 12,415 13,412 14,198 15,161
Retained Earnings		 4,151 6,907 3,517 1,643 -191 3,179 3,476 1,358 965 -727 -155
Accumulated Other Comprehensive Income / (Loss)		 318 -213 -92 231 -56 -380 318 231 53 -258 -141

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 11/30/2025 2/28/2026
Total Assets		 37,531 36,786 37,203 37,356 38,110 37,867 37,959 37,793 37,334 37,787 37,064
Total Current Assets		 25,202 24,250 24,631 24,753 25,382 25,040 24,980 24,609 23,898 24,015 23,184
Cash & Equivalents		 7,441 6,178 7,919 8,960 9,860 8,485 7,979 8,601 7,024 6,974 6,660
Short-Term Investments		 3,234 2,612 2,008 1,613 1,722 1,809 1,782 1,792 1,551 1,371 1,397
Accounts Receivable		 4,131 4,749 4,782 4,526 4,427 4,764 5,302 4,491 4,962 5,738 5,369
Inventories, net		 8,454 8,698 7,979 7,726 7,519 8,253 7,981 7,539 8,114 7,726 7,487
Prepaid Expenses		 1,942 2,013 1,943 1,928 1,854 1,729 1,936 2,186 2,247 2,206 2,271
Plant, Property, & Equipment, net		 5,081 5,109 5,153 5,082 5,000 4,948 4,857 4,717 4,861 4,843 4,766
Total Noncurrent Assets		 7,248 7,427 7,419 7,521 7,728 7,879 8,122 8,467 8,575 8,929 9,114
Goodwill		 281 281 281 240 240 240 240 239 240 240 240
Intangible Assets		 274 272 269 259 259 259 259 259 259 259 259
Noncurrent Deferred & Refundable Income Taxes		 3,770 3,935 3,926 4,166 4,511 4,588 4,887 5,355 5,349 5,536 5,729
Other Noncurrent Operating Assets		 2,923 2,939 2,943 2,856 2,718 2,792 2,736 2,614 2,727 2,894 2,886
Total Liabilities & Shareholders' Equity		 37,531 36,786 37,203 37,356 38,110 37,867 37,959 37,793 37,334 37,787 37,064
Total Liabilities		 23,527 22,815 23,057 23,130 23,680 23,923 23,922 23,786 23,866 23,702 22,974
Total Current Liabilities		 9,256 8,461 8,999 9,029 10,593 10,628 11,246 11,223 10,911 11,640 10,838
Short-Term Debt		 6.00 6.00 6.00 6.00 1,006 1,012 1,049 1,004 4.00 999 999
Accounts Payable		 2,862 2,738 2,709 2,340 2,851 3,357 3,255 3,106 3,772 3,717 2,888
Accrued Expenses		 5,723 4,987 5,470 5,818 5,725 5,075 5,694 5,905 5,923 5,919 6,183
Current Deferred & Payable Income Tax Liabilities		 240 295 358 391 534 693 767 734 706 492 275
Other Current Liabilities		 425 435 456 474 477 491 481 474 506 513 493
Total Noncurrent Liabilities		 14,271 14,354 14,058 14,101 13,087 13,295 12,676 12,563 12,955 12,062 12,136
Long-Term Debt		 8,927 8,929 8,930 8,930 7,903 7,998 7,973 7,956 7,996 7,016 7,030
Noncurrent Deferred & Payable Income Tax Liabilities		 2,558 2,618 2,343 2,480 2,618 2,672 2,141 2,130 2,404 2,292 2,450
Other Noncurrent Operating Liabilities		 2,786 2,807 2,785 2,691 2,566 2,625 2,562 2,477 2,555 2,754 2,656
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		 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468 14,085 14,090
Total Preferred & Common Equity		 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468 14,085 14,090
Total Common Equity		 14,004 13,971 14,146 14,226 14,430 13,944 14,037 14,007 13,468 14,085 14,090
Common Stock		 12,415 12,593 12,874 13,131 13,412 13,560 13,781 13,919 14,476 14,708 14,907
Retained Earnings		 1,358 1,242 1,151 970 965 411 54 -175 -700 -519 -610
Accumulated Other Comprehensive Income / (Loss)		 231 136 121 125 53 -27 202 263 -308 -104 -207

Annual Metrics And Ratios for NIKE

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 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 5/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 1,480,887,033.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 1,480,887,033.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.10
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 5.80% 6.10% 5.96% 7.47% -4.38% 19.08% 4.88% 9.65% 0.28% -9.84% 0.19%
EBITDA Growth		 8.64% 6.73% -8.97% 8.09% -26.48% 88.52% -0.31% -8.34% 4.66% -37.93% 0.97%
EBIT Growth		 9.66% 6.53% -11.45% 10.76% -38.64% 132.63% -0.97% -9.64% 5.55% -42.22% 1.91%
NOPAT Growth		 12.68% 12.55% -51.79% 101.58% -31.59% 117.71% 1.74% -20.30% 11.02% -42.87% -1.35%
Net Income Growth		 14.88% 12.77% -54.41% 108.43% -36.98% 125.56% 5.57% -16.14% 12.43% -43.53% -3.45%
EPS Growth		 16.76% 16.20% -53.39% 112.82% -35.74% 122.50% 5.34% -13.87% 15.48% -42.09% -2.78%
Operating Cash Flow Growth		 -27.37% 13.15% 28.84% 19.13% -57.90% 167.89% -22.07% 12.59% 27.19% -50.22% -22.44%
Free Cash Flow Firm Growth		 26.70% 2.25% 24.21% 24.34% -63.09% 270.14% -50.51% 40.14% 36.98% -52.39% -54.70%
Invested Capital Growth		 9.90% 13.47% -16.48% -6.22% 13.61% -2.45% 34.55% 4.68% -4.12% 2.31% 14.61%
Revenue Q/Q Growth		 1.46% 1.28% 3.15% 1.02% -9.38% 15.66% -0.23% 1.17% -0.42% -3.16% -0.27%
EBITDA Q/Q Growth		 0.32% 2.41% 1.04% 0.22% -32.48% 52.84% -5.27% -3.50% 6.08% -23.74% 28.48%
EBIT Q/Q Growth		 0.48% 2.23% 0.95% 0.58% -40.30% 62.82% -6.84% -3.07% 7.48% -26.71% 36.28%
NOPAT Q/Q Growth		 -0.47% 5.00% 8.43% -4.72% -39.57% 66.38% -0.63% -9.32% 6.65% -26.90% 38.41%
Net Income Q/Q Growth		 -0.50% 3.97% 7.15% -3.54% -41.20% 67.07% -1.14% -7.45% 8.97% -28.59% 38.13%
EPS Q/Q Growth		 -3.57% 1.62% 5.41% -3.49% -40.96% 66.36% -1.06% -6.65% 9.71% -28.24% 39.07%
Operating Cash Flow Q/Q Growth		 4.46% -12.01% 35.87% -4.22% -44.73% 43.35% -14.23% 23.25% 5.18% -36.83% 69.30%
Free Cash Flow Firm Q/Q Growth		 6.61% -5.81% 7.74% 4.80% -53.55% 50.64% -26.55% 46.58% 4.65% -33.60% 81.76%
Invested Capital Q/Q Growth		 -4.43% -0.33% -1.64% -6.50% -4.43% -1.28% 8.87% -6.88% -6.61% -4.34% -2.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 46.24% 44.58% 43.84% 44.67% 43.42% 44.82% 45.98% 43.52% 44.56% 42.73% 42.91%
EBITDA Margin		 16.38% 16.48% 14.16% 14.24% 10.95% 17.33% 16.48% 13.77% 14.37% 9.83% 9.91%
Operating Margin		 13.91% 13.83% 12.21% 12.20% 8.33% 15.58% 14.29% 11.55% 12.29% 7.99% 8.18%
EBIT Margin		 14.34% 14.40% 12.03% 12.40% 7.96% 15.54% 14.68% 12.10% 12.73% 8.16% 8.30%
Profit (Net Income) Margin		 11.61% 12.34% 5.31% 10.30% 6.79% 12.86% 12.94% 9.90% 11.10% 6.95% 6.70%
Tax Burden Percent		 81.33% 86.78% 44.69% 83.92% 87.95% 85.98% 90.90% 81.76% 85.07% 82.86% 79.69%
Interest Burden Percent		 99.59% 98.81% 98.77% 98.99% 97.01% 96.22% 97.01% 100.10% 102.46% 102.83% 101.30%
Effective Tax Rate		 18.67% 13.22% 55.31% 16.08% 12.05% 14.02% 9.10% 18.24% 14.93% 17.14% 20.31%
Return on Invested Capital (ROIC)		 43.38% 43.68% 21.59% 49.34% 32.65% 67.66% 59.43% 40.34% 44.71% 25.79% 23.45%
ROIC Less NNEP Spread (ROIC-NNEP)		 40.94% 39.58% 24.40% 47.48% 160.37% 82.53% 60.00% 31.53% 29.72% 17.93% 16.24%
Return on Net Nonoperating Assets (RNNOA)		 -13.26% -9.30% -4.19% -6.60% -2.95% -12.65% -16.32% -5.72% -4.61% -2.50% -1.32%
Return on Equity (ROE)		 30.12% 34.38% 17.40% 42.74% 29.70% 55.01% 43.11% 34.63% 40.09% 23.29% 22.14%
Cash Return on Invested Capital (CROIC)		 33.95% 31.06% 39.55% 55.76% 19.91% 70.14% 29.97% 35.77% 48.91% 23.51% 9.84%
Operating Return on Assets (OROA)		 21.60% 22.16% 19.12% 20.97% 10.81% 20.04% 17.57% 15.91% 17.29% 10.12% 10.27%
Return on Assets (ROA)		 17.50% 19.00% 8.44% 17.42% 9.22% 16.58% 15.49% 13.02% 15.07% 8.62% 8.29%
Return on Common Equity (ROCE)		 30.12% 34.38% 17.40% 42.74% 29.70% 55.01% 43.11% 34.63% 40.09% 23.29% 22.14%
Return on Equity Simple (ROE_SIMPLE)		 30.67% 34.17% 19.70% 44.57% 31.52% 44.86% 39.57% 36.20% 39.50% 24.36% 0.00%
Net Operating Profit after Tax (NOPAT)		 3,662 4,121 1,987 4,005 2,740 5,964 6,068 4,836 5,369 3,067 3,026
NOPAT Margin		 11.31% 12.00% 5.46% 10.24% 7.32% 13.39% 12.99% 9.44% 10.45% 6.62% 6.52%
Net Nonoperating Expense Percent (NNEP)		 2.44% 4.10% -2.81% 1.86% -127.72% -14.87% -0.57% 8.81% 14.99% 7.86% 7.22%
Return On Investment Capital (ROIC_SIMPLE)		 25.61% 25.42% 14.58% 31.99% 15.47% 26.89% 24.56% 21.08% 23.00% 14.48% 13.27%
Cost of Revenue to Revenue		 53.76% 55.42% 56.16% 55.33% 56.58% 55.18% 54.02% 56.48% 55.44% 57.27% 57.09%
SG&A Expenses to Revenue		 22.21% 21.02% 21.80% 22.88% 25.49% 22.25% 23.45% 24.05% 23.93% 24.62% 24.48%
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		 32.34% 30.75% 31.63% 32.47% 35.09% 29.24% 31.69% 31.98% 32.27% 34.74% 34.73%
Earnings before Interest and Taxes (EBIT)		 4,642 4,945 4,379 4,850 2,976 6,923 6,856 6,195 6,539 3,778 3,850
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5,304 5,661 5,153 5,570 4,095 7,720 7,696 7,054 7,383 4,553 4,597
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.82 6.41 10.88 12.53 17.97 16.08 11.72 11.29 10.03 7.06 4.78
Price to Tangible Book Value (P/TBV)		 7.06 6.64 11.39 13.17 19.15 16.75 12.18 11.75 10.39 7.34 4.95
Price to Revenue (P/Rev)		 2.58 2.32 2.93 2.90 3.87 4.61 3.83 3.09 2.82 2.02 1.53
Price to Earnings (P/E)		 22.23 18.77 55.19 28.12 57.01 35.85 29.63 31.18 25.38 28.99 22.86
Dividend Yield		 2.10% 1.41% 1.15% 1.19% 1.03% 0.82% 1.02% 1.27% 1.52% 2.56% 3.54%
Earnings Yield		 4.50% 5.33% 1.81% 3.56% 1.75% 2.79% 3.38% 3.21% 3.94% 3.45% 4.37%
Enterprise Value to Invested Capital (EV/IC)		 9.07 7.70 12.56 14.27 16.32 23.11 14.99 12.75 12.08 7.66 5.08
Enterprise Value to Revenue (EV/Rev)		 2.48 2.25 2.89 2.87 3.89 4.52 3.76 3.05 2.76 1.99 1.51
Enterprise Value to EBITDA (EV/EBITDA)		 15.12 13.64 20.43 20.13 35.56 26.07 22.81 22.16 19.23 20.24 15.22
Enterprise Value to EBIT (EV/EBIT)		 17.27 15.61 24.04 23.12 48.93 29.07 25.61 25.23 21.72 24.39 18.17
Enterprise Value to NOPAT (EV/NOPAT)		 21.90 18.74 52.98 28.00 53.16 33.74 28.93 32.32 26.45 30.04 23.12
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.59 20.08 21.24 18.99 58.60 30.23 33.84 26.76 19.12 24.92 24.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 27.98 26.35 28.92 24.77 87.18 32.54 57.37 36.45 24.18 32.95 55.14
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.17 0.31 0.39 0.38 1.20 0.74 0.62 0.64 0.62 0.60 0.53
Long-Term Debt to Equity		 0.16 0.28 0.35 0.38 1.17 0.74 0.58 0.64 0.55 0.60 0.40
Financial Leverage		 -0.32 -0.24 -0.17 -0.14 -0.02 -0.15 -0.27 -0.18 -0.16 -0.14 -0.08
Leverage Ratio		 1.72 1.81 2.06 2.45 3.22 3.32 2.78 2.66 2.66 2.70 2.67
Compound Leverage Factor		 1.71 1.79 2.04 2.43 3.12 3.19 2.70 2.66 2.73 2.78 2.71
Debt to Total Capital		 14.26% 23.46% 27.97% 27.79% 54.52% 42.44% 38.16% 38.95% 38.17% 37.61% 34.82%
Short-Term Debt to Total Capital		 0.31% 2.04% 2.51% 0.12% 1.42% 0.01% 2.06% 0.03% 4.31% 0.02% 8.77%
Long-Term Debt to Total Capital		 13.94% 21.41% 25.46% 27.67% 53.11% 42.44% 36.10% 38.92% 33.86% 37.59% 26.05%
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		 85.74% 76.54% 72.01% 72.21% 45.48% 57.56% 61.84% 61.05% 61.83% 62.39% 65.18%
Debt to EBITDA		 0.38 0.67 0.74 0.62 2.36 1.22 1.23 1.27 1.21 1.75 1.73
Net Debt to EBITDA		 -0.64 -0.42 -0.28 -0.21 0.21 -0.53 -0.46 -0.25 -0.36 -0.26 -0.24
Long-Term Debt to EBITDA		 0.38 0.61 0.67 0.62 2.30 1.22 1.16 1.27 1.07 1.75 1.29
Debt to NOPAT		 0.56 0.92 1.92 0.87 3.53 1.58 1.55 1.85 1.66 2.60 2.62
Net Debt to NOPAT		 -0.93 -0.58 -0.72 -0.30 0.32 -0.68 -0.59 -0.36 -0.50 -0.39 -0.36
Long-Term Debt to NOPAT		 0.54 0.84 1.75 0.87 3.43 1.58 1.47 1.85 1.47 2.60 1.96
Altman Z-Score		 8.54 7.54 7.99 7.49 5.70 7.36 6.65 6.50 6.08 4.40 3.72
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.80 2.93 2.51 2.10 2.48 2.72 2.63 2.72 2.40 2.21 1.96
Quick Ratio		 1.62 1.80 1.45 1.14 1.39 1.85 1.65 1.60 1.51 1.31 1.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,866 2,930 3,640 4,526 1,671 6,183 3,060 4,288 5,874 2,796 1,269
Operating Cash Flow to CapEx		 300.00% 352.20% 482.00% 527.52% 228.82% 957.84% 684.43% 602.79% 914.90% 860.00% 419.30%
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		 1.51 1.54 1.59 1.69 1.36 1.29 1.20 1.32 1.36 1.24 1.24
Accounts Receivable Turnover		 9.81 9.93 10.15 10.07 10.65 12.35 10.23 11.64 12.00 10.13 8.71
Inventory Turnover		 3.79 3.85 3.96 3.98 3.26 3.46 3.30 3.43 3.57 3.53 3.53
Fixed Asset Turnover		 9.91 9.15 8.62 8.51 7.78 9.12 9.64 10.38 10.19 9.42 9.64
Accounts Payable Turnover		 8.05 8.98 9.45 8.85 8.71 9.67 8.15 9.30 9.97 8.38 7.48
Days Sales Outstanding (DSO)		 37.20 36.76 35.98 36.25 34.26 29.55 35.67 31.35 30.41 36.04 41.88
Days Inventory Outstanding (DIO)		 96.20 94.84 92.10 91.77 112.02 105.60 110.48 106.47 102.37 103.28 103.28
Days Payable Outstanding (DPO)		 45.32 40.64 38.63 41.24 41.91 37.75 44.80 39.24 36.62 43.56 48.78
Cash Conversion Cycle (CCC)		 88.08 90.95 89.45 86.78 104.36 97.40 101.35 98.57 96.17 95.76 96.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 8,839 10,030 8,377 7,856 8,925 8,706 11,714 12,262 11,757 12,028 13,780
Invested Capital Turnover		 3.84 3.64 3.95 4.82 4.46 5.05 4.57 4.27 4.28 3.89 3.60
Increase / (Decrease) in Invested Capital		 796 1,191 -1,653 -521 1,069 -219 3,008 548 -505 271 1,757
Enterprise Value (EV)		 80,180 77,211 105,252 112,119 145,628 201,225 175,548 156,322 142,008 92,143 69,962
Market Capitalization		 83,599 79,588 106,687 113,303 144,758 205,286 179,115 158,064 144,681 93,328 71,047
Book Value per Share		 $7.28 $7.52 $6.09 $5.75 $5.18 $8.08 $9.71 $9.11 $9.56 $8.95 $10.04
Tangible Book Value per Share		 $7.03 $7.26 $5.81 $5.47 $4.86 $7.76 $9.35 $8.75 $9.23 $8.61 $9.70
Total Capital		 14,296 16,209 13,622 12,519 17,712 22,182 24,711 22,937 23,339 21,179 22,807
Total Debt		 2,038 3,802 3,810 3,479 9,657 9,415 9,430 8,933 8,909 7,966 7,942
Total Long-Term Debt		 1,993 3,471 3,468 3,464 9,406 9,413 8,920 8,927 7,903 7,961 5,942
Net Debt		 -3,419 -2,377 -1,435 -1,184 870 -4,061 -3,567 -1,742 -2,673 -1,185 -1,085
Capital Expenditures (CapEx)		 1,133 1,092 1,028 1,119 1,086 695 758 969 812 430 684
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 4,255 4,739 4,191 4,011 3,736 3,143 4,996 5,277 4,213 3,650 5,029
Debt-free Net Working Capital (DFNWC)		 9,712 10,918 9,436 8,674 12,523 16,619 17,993 15,952 15,795 12,801 14,056
Net Working Capital (NWC)		 9,667 10,587 9,094 8,659 12,272 16,617 17,483 15,946 14,789 12,796 12,056
Net Nonoperating Expense (NNE)		 -98 -119 54 -24 201 237 22 -234 -331 -152 -82
Net Nonoperating Obligations (NNO)		 -3,419 -2,377 -1,435 -1,184 870 -4,061 -3,567 -1,742 -2,673 -1,185 -1,085
Total Depreciation and Amortization (D&A)		 662 716 774 720 1,119 797 840 859 844 775 747
Debt-free, Cash-free Net Working Capital to Revenue		 13.14% 13.80% 11.51% 10.25% 9.99% 7.06% 10.70% 10.30% 8.20% 7.88% 10.84%
Debt-free Net Working Capital to Revenue		 30.00% 31.78% 25.93% 22.17% 33.48% 37.31% 38.52% 31.15% 30.75% 27.64% 30.29%
Net Working Capital to Revenue		 29.86% 30.82% 24.99% 22.14% 32.81% 37.31% 37.43% 31.13% 28.79% 27.63% 25.98%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.21 $2.56 $1.19 $2.55 $1.63 $3.64 $3.83 $3.27 $3.76 $2.17 $2.10
Adjusted Weighted Average Basic Shares Outstanding		 1.68B 1.64B 1.60B 1.58B 1.56B 1.57B 1.58B 1.55B 1.52B 1.48B 1.48B
Adjusted Diluted Earnings per Share		 $2.16 $2.51 $1.17 $2.49 $1.60 $3.56 $3.75 $3.23 $3.73 $2.16 $2.10
Adjusted Weighted Average Diluted Shares Outstanding		 1.68B 1.64B 1.60B 1.62B 1.59B 1.61B 1.61B 1.57B 1.53B 1.49B 1.48B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $2.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.68B 1.64B 1.60B 1.57B 1.56B 1.58B 1.57B 1.53B 1.50B 1.48B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)		 3,662 4,121 3,112 4,005 2,740 5,964 6,068 4,836 5,369 3,067 3,026
Normalized NOPAT Margin		 11.31% 12.00% 8.55% 10.24% 7.32% 13.39% 12.99% 9.44% 10.45% 6.62% 6.52%
Pre Tax Income Margin		 14.28% 14.22% 11.88% 12.27% 7.72% 14.96% 14.24% 12.11% 13.04% 8.39% 8.41%
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		 27.18% 26.72% 64.30% 33.06% 57.19% 28.60% 30.38% 39.68% 38.05% 71.45% 77.45%
Augmented Payout Ratio		 113.30% 102.74% 284.38% 139.44% 177.98% 39.22% 96.77% 147.77% 112.61% 164.18% 82.14%

Quarterly Metrics And Ratios for NIKE

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

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
DEI Shares Outstanding		 - - - - - - - - - 1,480,383,402.00 1,480,887,033.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 1,480,383,402.00 1,480,887,033.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.35 0.72
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.55% 0.31% -1.71% -10.43% -7.72% -9.33% -11.97% 1.13% 0.59% 0.09% -1.13%
EBITDA Growth		 4.99% 0.50% 29.09% -19.56% -24.33% -34.16% -73.67% -24.66% -26.11% -19.92% 205.86%
EBIT Growth		 14.05% -8.03% 37.36% -21.69% -26.74% -38.91% -82.31% -28.48% -28.88% -23.12% 346.28%
NOPAT Growth		 17.04% -5.92% 32.99% -31.11% -24.14% -33.53% -84.15% -24.82% -29.84% -40.32% 395.10%
Net Income Growth		 18.56% -5.48% 45.49% -27.52% -26.30% -32.25% -85.93% -30.83% -31.90% -34.51% 406.64%
EPS Growth		 21.18% -2.53% 50.00% -25.53% -24.27% -29.87% -85.86% -30.00% -32.05% -35.19% 421.43%
Operating Cash Flow Growth		 181.42% -7.67% 16.25% 696.97% -62.76% -12.97% -82.32% -43.65% -44.80% -76.00% 253.56%
Free Cash Flow Firm Growth		 168.23% 238.58% 299.85% 261.18% -59.03% -55.36% -103.14% -79.49% -65.73% -238.25% -1,225.20%
Invested Capital Growth		 -6.58% -4.40% -4.12% -10.31% 1.09% -0.12% 2.31% 1.84% 3.44% 11.83% 14.61%
Revenue Q/Q Growth		 3.47% -7.16% 1.42% -8.07% 6.60% -8.78% -1.53% 5.61% 6.03% -9.24% -2.72%
EBITDA Q/Q Growth		 15.78% -22.17% 15.72% -22.86% 8.91% -32.28% -53.65% 121.01% 6.86% -29.85% 84.63%
EBIT Q/Q Growth		 17.72% -28.84% 23.74% -24.45% 10.13% -40.66% -64.16% 205.41% 9.51% -35.86% 108.03%
NOPAT Q/Q Growth		 6.17% -25.57% 20.47% -27.64% 16.92% -34.78% -71.27% 243.18% 9.11% -44.53% 138.36%
Net Income Q/Q Growth		 8.83% -25.73% 27.99% -29.93% 10.66% -31.73% -73.43% 244.55% 8.94% -34.34% 105.58%
EPS Q/Q Growth		 9.57% -25.24% 28.57% -29.29% 11.43% -30.77% -74.07% 250.00% 8.16% -33.96% 108.57%
Operating Cash Flow Q/Q Growth		 4,368.18% -26.91% 27.20% -84.96% 166.24% 70.83% -74.16% -52.05% 160.81% -25.73% 280.70%
Free Cash Flow Firm Q/Q Growth		 260.76% -30.15% 9.11% 31.36% -59.08% -23.89% -107.67% 958.38% -31.61% -407.03% 32.82%
Invested Capital Q/Q Growth		 -6.81% -4.30% -6.61% 7.68% 5.04% -5.44% -4.34% 7.19% 6.69% 2.23% -2.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 44.60% 44.75% 44.69% 45.36% 43.62% 41.49% 40.27% 42.18% 40.60% 40.16% 49.15%
EBITDA Margin		 15.57% 13.05% 14.89% 12.49% 12.77% 9.48% 4.46% 9.33% 9.41% 7.27% 13.80%
Operating Margin		 13.63% 10.75% 12.26% 10.43% 11.20% 6.99% 2.89% 7.91% 8.10% 4.90% 11.95%
EBIT Margin		 14.19% 10.88% 13.27% 10.91% 11.27% 7.33% 2.67% 7.71% 7.97% 5.63% 12.04%
Profit (Net Income) Margin		 11.79% 9.43% 11.90% 9.07% 9.41% 7.05% 1.90% 6.20% 6.37% 4.61% 9.74%
Tax Burden Percent		 82.10% 83.48% 86.91% 80.41% 82.13% 94.08% 66.35% 78.85% 79.28% 80.00% 80.44%
Interest Burden Percent		 101.16% 103.85% 103.17% 103.40% 101.72% 102.18% 107.43% 101.99% 100.91% 102.36% 100.61%
Effective Tax Rate		 17.90% 16.52% 13.09% 19.59% 17.87% 5.92% 33.65% 21.15% 20.72% 20.00% 19.56%
Return on Invested Capital (ROIC)		 42.36% 35.94% 45.58% 31.34% 34.07% 25.00% 7.47% 22.67% 22.07% 13.70% 34.56%
ROIC Less NNEP Spread (ROIC-NNEP)		 35.05% 32.15% 38.50% 17.50% 31.03% 21.57% 7.58% 23.09% 23.11% 3.08% 33.29%
Return on Net Nonoperating Assets (RNNOA)		 -2.60% -3.35% -5.98% -0.71% -1.91% -2.35% -1.06% -1.57% -0.88% -0.16% -2.70%
Return on Equity (ROE)		 39.76% 32.58% 39.61% 30.62% 32.17% 22.66% 6.42% 21.10% 21.19% 13.54% 31.87%
Cash Return on Invested Capital (CROIC)		 44.29% 43.59% 48.91% 47.71% 33.47% 33.47% 23.51% 20.32% 15.03% 5.24% 9.84%
Operating Return on Assets (OROA)		 19.04% 14.83% 18.02% 14.61% 14.68% 9.33% 3.31% 9.53% 9.78% 7.00% 14.90%
Return on Assets (ROA)		 15.81% 12.86% 16.16% 12.15% 12.27% 8.97% 2.36% 7.66% 7.83% 5.73% 12.06%
Return on Common Equity (ROCE)		 39.76% 32.58% 39.61% 30.62% 32.17% 22.66% 6.42% 21.10% 21.19% 13.54% 31.87%
Return on Equity Simple (ROE_SIMPLE)		 37.46% 36.77% 0.00% 38.02% 34.81% 32.18% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,498 1,115 1,344 972 1,137 741 213 731 798 442 1,055
NOPAT Margin		 11.19% 8.97% 10.66% 8.39% 9.20% 6.58% 1.92% 6.24% 6.42% 3.92% 9.61%
Net Nonoperating Expense Percent (NNEP)		 7.30% 3.78% 7.09% 13.84% 3.04% 3.43% -0.10% -0.42% -1.04% 10.62% 1.27%
Return On Investment Capital (ROIC_SIMPLE)		 6.49% 4.81% 5.76% 4.24% 4.93% 3.23% 1.01% 3.40% 3.61% 2.00% 4.62%
Cost of Revenue to Revenue		 55.40% 55.25% 55.31% 54.64% 56.38% 58.51% 59.73% 57.82% 59.40% 59.84% 50.85%
SG&A Expenses to Revenue		 22.65% 25.87% 23.77% 24.35% 23.34% 24.84% 26.09% 24.13% 22.26% 25.60% 26.24%
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		 30.97% 34.00% 32.43% 34.93% 32.42% 34.49% 37.38% 34.27% 32.50% 35.26% 37.20%
Earnings before Interest and Taxes (EBIT)		 1,900 1,352 1,673 1,264 1,392 826 296 904 990 635 1,321
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,084 1,622 1,877 1,448 1,577 1,068 495 1,094 1,169 820 1,514
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 11.78 11.08 10.03 9.13 8.61 8.75 7.06 8.86 7.07 6.80 4.78
Price to Tangible Book Value (P/TBV)		 12.26 11.48 10.39 9.47 8.93 9.07 7.34 9.20 7.33 7.05 4.95
Price to Revenue (P/Rev)		 3.23 3.06 2.82 2.55 2.47 2.56 2.02 2.57 2.14 2.06 1.53
Price to Earnings (P/E)		 31.46 30.13 25.38 24.02 24.75 27.18 28.99 41.23 39.45 42.57 22.86
Dividend Yield		 1.27% 1.37% 1.52% 1.77% 1.90% 1.91% 2.56% 2.04% 2.49% 2.61% 3.54%
Earnings Yield		 3.18% 3.32% 3.94% 4.16% 4.04% 3.68% 3.45% 2.43% 2.53% 2.35% 4.37%
Enterprise Value to Invested Capital (EV/IC)		 12.60 12.39 12.08 9.96 9.04 9.63 7.66 9.21 7.22 6.81 5.08
Enterprise Value to Revenue (EV/Rev)		 3.21 3.02 2.76 2.52 2.45 2.53 1.99 2.56 2.13 2.06 1.51
Enterprise Value to EBITDA (EV/EBITDA)		 23.83 22.41 19.23 17.93 18.42 20.29 20.24 28.31 26.24 26.76 15.22
Enterprise Value to EBIT (EV/EBIT)		 26.72 25.64 21.72 20.36 21.15 23.49 24.39 34.75 32.91 33.89 18.17
Enterprise Value to NOPAT (EV/NOPAT)		 32.46 30.99 26.45 25.56 26.29 28.86 30.04 41.99 39.85 43.80 23.12
Enterprise Value to Operating Cash Flow (EV/OCF)		 22.91 22.09 19.12 15.98 19.63 20.69 24.92 33.68 32.48 56.52 24.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 27.47 27.79 24.18 19.73 27.14 28.76 32.95 45.75 48.81 137.15 55.14
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.63 0.63 0.62 0.65 0.64 0.64 0.60 0.59 0.57 0.57 0.53
Long-Term Debt to Equity		 0.63 0.63 0.55 0.57 0.57 0.57 0.60 0.59 0.50 0.50 0.40
Financial Leverage		 -0.07 -0.10 -0.16 -0.04 -0.06 -0.11 -0.14 -0.07 -0.04 -0.05 -0.08
Leverage Ratio		 2.61 2.63 2.66 2.67 2.67 2.66 2.70 2.74 2.69 2.66 2.67
Compound Leverage Factor		 2.64 2.73 2.74 2.77 2.71 2.72 2.90 2.80 2.72 2.73 2.69
Debt to Total Capital		 38.71% 38.58% 38.17% 39.25% 39.13% 39.01% 37.61% 37.26% 36.27% 36.30% 34.82%
Short-Term Debt to Total Capital		 0.03% 0.03% 4.31% 4.41% 4.55% 4.37% 0.02% 0.02% 4.52% 4.52% 8.77%
Long-Term Debt to Total Capital		 38.69% 38.55% 33.86% 34.84% 34.58% 34.64% 37.59% 37.25% 31.75% 31.78% 26.05%
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		 61.29% 61.42% 61.83% 60.75% 60.87% 60.99% 62.39% 62.74% 63.73% 63.70% 65.18%
Debt to EBITDA		 1.29 1.28 1.21 1.28 1.38 1.50 1.75 1.91 2.12 2.24 1.73
Net Debt to EBITDA		 -0.14 -0.24 -0.36 -0.18 -0.11 -0.24 -0.26 -0.14 -0.09 -0.01 -0.24
Long-Term Debt to EBITDA		 1.28 1.28 1.07 1.14 1.22 1.33 1.75 1.91 1.86 1.96 1.29
Debt to NOPAT		 1.75 1.78 1.66 1.83 1.97 2.14 2.60 2.83 3.22 3.67 2.62
Net Debt to NOPAT		 -0.19 -0.33 -0.50 -0.26 -0.16 -0.34 -0.39 -0.20 -0.13 -0.01 -0.36
Long-Term Debt to NOPAT		 1.75 1.77 1.47 1.62 1.74 1.90 2.60 2.83 2.82 3.22 1.96
Altman Z-Score		 6.44 6.13 5.66 5.10 4.88 4.85 4.08 4.72 4.21 4.19 3.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.74 2.74 2.40 2.36 2.22 2.19 2.21 2.19 2.06 2.14 1.96
Quick Ratio		 1.63 1.67 1.51 1.42 1.34 1.33 1.31 1.24 1.21 1.24 1.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2,425 1,694 1,849 2,428 994 756 -58 498 341 -1,046 -702
Operating Cash Flow to CapEx		 1,374.15% 1,460.28% 1,229.58% 328.33% 813.18% 2,212.35% 463.00% 107.25% 300.00% 294.52% 1,186.23%
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		 1.34 1.36 1.36 1.34 1.30 1.27 1.24 1.24 1.23 1.24 1.24
Accounts Receivable Turnover		 10.09 11.41 12.00 10.51 9.71 10.61 10.13 9.55 8.43 9.44 8.71
Inventory Turnover		 3.34 3.46 3.57 3.26 3.40 3.52 3.53 3.29 3.49 3.67 3.53
Fixed Asset Turnover		 10.30 10.29 10.19 9.95 9.79 9.76 9.42 9.47 9.59 9.81 9.64
Accounts Payable Turnover		 10.47 11.46 9.97 9.05 9.10 9.87 8.38 7.56 7.85 9.19 7.48
Days Sales Outstanding (DSO)		 36.18 31.98 30.41 34.71 37.57 34.41 36.04 38.22 43.32 38.68 41.88
Days Inventory Outstanding (DIO)		 109.34 105.63 102.37 112.13 107.34 103.71 103.28 110.78 104.69 99.59 103.28
Days Payable Outstanding (DPO)		 34.87 31.85 36.62 40.32 40.11 37.00 43.56 48.25 46.47 39.73 48.78
Cash Conversion Cycle (CCC)		 110.65 105.76 96.17 106.53 104.80 101.12 95.76 100.75 101.54 98.54 96.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 13,155 12,589 11,757 12,660 13,298 12,574 12,028 12,893 13,755 14,062 13,780
Invested Capital Turnover		 3.78 4.01 4.28 3.74 3.70 3.80 3.89 3.63 3.44 3.49 3.60
Increase / (Decrease) in Invested Capital		 -927 -579 -505 -1,456 143 -15 271 233 457 1,488 1,757
Enterprise Value (EV)		 165,698 155,997 142,008 126,038 120,167 121,108 92,143 118,772 99,247 95,750 69,962
Market Capitalization		 166,689 157,634 144,681 127,322 120,906 122,541 93,328 119,347 99,577 95,778 71,047
Book Value per Share		 $9.29 $9.39 $9.56 $9.30 $9.43 $9.47 $8.95 $9.12 $9.53 $9.52 $10.04
Tangible Book Value per Share		 $8.93 $9.06 $9.23 $8.97 $9.10 $9.13 $8.61 $8.78 $9.19 $9.18 $9.70
Total Capital		 23,082 23,162 23,339 22,954 23,059 22,967 21,179 21,468 22,100 22,119 22,807
Total Debt		 8,936 8,936 8,909 9,010 9,022 8,960 7,966 8,000 8,015 8,029 7,942
Total Long-Term Debt		 8,930 8,930 7,903 7,998 7,973 7,956 7,961 7,996 7,016 7,030 5,942
Net Debt		 -991 -1,637 -2,673 -1,284 -739 -1,433 -1,185 -575 -330 -28 -1,085
Capital Expenditures (CapEx)		 205 141 213 120 129 81 100 207 193 146 138
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5,711 5,157 4,213 5,130 5,022 3,997 3,650 4,416 5,029 5,288 5,029
Debt-free Net Working Capital (DFNWC)		 15,638 15,730 15,795 15,424 14,783 14,390 12,801 12,991 13,374 13,345 14,056
Net Working Capital (NWC)		 15,632 15,724 14,789 14,412 13,734 13,386 12,796 12,987 12,375 12,346 12,056
Net Nonoperating Expense (NNE)		 -80 -57 -156 -79 -26 -53 1.99 3.94 5.55 -78 -14
Net Nonoperating Obligations (NNO)		 -991 -1,637 -2,673 -1,284 -739 -1,433 -1,185 -575 -330 -28 -1,085
Total Depreciation and Amortization (D&A)		 184 270 204 184 185 242 199 190 179 185 193
Debt-free, Cash-free Net Working Capital to Revenue		 11.08% 10.00% 8.20% 10.26% 10.25% 8.36% 7.88% 9.51% 10.81% 11.37% 10.84%
Debt-free Net Working Capital to Revenue		 30.34% 30.50% 30.75% 30.84% 30.18% 30.09% 27.64% 27.97% 28.75% 28.68% 30.29%
Net Working Capital to Revenue		 30.33% 30.48% 28.79% 28.82% 28.04% 27.99% 27.63% 27.97% 26.61% 26.54% 25.98%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.04 $0.77 $1.00 $0.70 $0.78 $0.54 $0.15 $0.49 $0.54 $0.35 $0.72
Adjusted Weighted Average Basic Shares Outstanding		 1.52B 1.51B 1.52B 1.50B 1.49B 1.48B 1.48B 1.48B 1.48B 1.48B 1.48B
Adjusted Diluted Earnings per Share		 $1.03 $0.77 $0.99 $0.70 $0.78 $0.54 $0.14 $0.49 $0.53 $0.35 $0.73
Adjusted Weighted Average Diluted Shares Outstanding		 1.53B 1.53B 1.53B 1.50B 1.49B 1.48B 1.49B 1.48B 1.48B 1.48B 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		 1.52B 1.51B 1.50B 1.49B 1.48B 1.48B 1.48B 1.48B 1.48B 1.48B 1.48B
Normalized Net Operating Profit after Tax (NOPAT)		 1,498 1,115 1,344 972 1,137 741 213 731 798 442 1,055
Normalized NOPAT Margin		 11.19% 8.97% 10.66% 8.39% 9.20% 6.58% 1.92% 6.24% 6.42% 3.92% 9.61%
Pre Tax Income Margin		 14.36% 11.30% 13.69% 11.28% 11.46% 7.49% 2.87% 7.87% 8.04% 5.76% 12.11%
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		 39.61% 40.78% 38.05% 41.56% 45.78% 50.33% 71.45% 80.59% 94.06% 106.18% 77.45%
Augmented Payout Ratio		 138.89% 128.58% 112.61% 122.69% 131.72% 135.12% 164.18% 147.15% 127.77% 121.51% 82.14%

Financials Breakdown Chart

Key Financial Trends

NIKE’s latest quarterly results show a clear rebound in profitability and cash generation from the weak stretch seen in late 2025 and early 2026, but revenue growth remains uneven and the balance sheet still carries meaningful leverage.

For the fiscal Q4 2026 quarter, Nike posted $10.97 billion in revenue, down slightly from $11.28 billion in Q3 2026 and below the year-ago Q4 2025 level of $11.10 billion. However, profitability improved sharply versus the prior quarter: operating income rose to $1.31 billion from $553 million in Q3 2026, and net income increased to $1.07 billion from $520 million.

Margins also improved. Gross profit in Q4 2026 was $5.39 billion, up from $4.53 billion in Q3 2026, helped by a much lower cost of revenue as a percentage of sales. Operating expenses remained elevated, especially marketing, but they were lower than the previous quarter, which helped restore operating leverage.

Cash flow was a bright spot. Nike generated $1.64 billion in operating cash flow in Q4 2026, a big improvement from $430 million in Q3 2026. That said, the company still spent heavily on dividends and other financing uses, so net cash movement remained pressured by capital returns.

The balance sheet looks solid in absolute terms, but not without caution flags. As of Q3 2026, Nike held $6.66 billion in cash and equivalents and $1.40 billion in short-term investments, while total debt stood at roughly $8.03 billion. Total common equity was $14.09 billion, giving the company a manageable but still significant debt load.

Over the last several years, Nike’s quarterly pattern has been mixed. Compared with fiscal 2024, recent quarters show:

  • Improving profitability in the latest quarter, with Q4 2026 net income of $1.07 billion versus $520 million in Q3 2026.
  • Strong rebound in operating cash flow, reaching $1.64 billion in Q4 2026 after a much weaker Q3.
  • Healthy liquidity, with billions in cash and short-term investments on hand.
  • EPS recovery, as diluted EPS improved to $0.73 in Q4 2026 from $0.35 in Q3 2026.
  • Revenue remains choppy, with quarterly sales fluctuating between roughly $10.97 billion and $12.43 billion over the past year.
  • Debt has stayed relatively stable around the $8 billion range, but it is still a factor investors should watch.
  • Share count has been fairly steady, so earnings changes are being driven more by operations than by buybacks.
  • Margins weakened earlier in 2026, especially in Q3, showing how sensitive Nike is to cost pressure and mix changes.
  • Cash returned to shareholders remains large, with dividends and buybacks continuing to consume substantial cash each quarter.
  • Current liabilities remain elevated, including accrued expenses and accounts payable, which can pressure working capital.

Bottom line: Nike appears to be regaining some operational momentum after a soft patch, with better earnings and cash flow in the latest quarter. The key question for investors is whether the company can sustain this improvement while stabilizing revenue growth and keeping margins from slipping again.

07/27/26 02:04 AM ETAI Generated. May Contain Errors.

NIKE Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NIKE's financial year ends in May. Their financial year 2026 ended on May 31, 2026.

NIKE's net income appears to be on an upward trend, with a most recent value of $3.11 billion in 2026, falling from $3.76 billion in 2016. The previous period was $3.22 billion in 2025. Find out what analysts predict for NIKE in the coming months.

NIKE's total operating income in 2026 was $3.80 billion, based on the following breakdown:
  • Total Gross Profit: $19.91 billion
  • Total Operating Expenses: $16.11 billion

Over the last 10 years, NIKE's total revenue changed from $32.38 billion in 2016 to $46.40 billion in 2026, a change of 43.3%.

NIKE's total liabilities were at $23.55 billion at the end of 2026, a 0.8% increase from 2025, and a 158.1% increase since 2016.

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 $7.56 billion as of their latest financial filing in 2026.

Over the last 10 years, NIKE's book value per share changed from 7.28 in 2016 to 10.04 in 2026, a change of 38.0%.


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Financial statements for NYSE:NKE last updated on 7/17/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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