NKE · Nike, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $46.31B | $51.36B | $51.22B | $46.71B | $44.54B | $37.40B |
| Cost of Revenue | $26.52B | $28.48B | $28.93B | $25.23B | $24.58B | $21.16B |
| Gross Profit | $19.79B | $22.89B | $22.29B | $21.48B | $19.96B | $16.24B |
| R&D | - | - | - | - | - | - |
| SG&A | $16.09B | $16.58B | $16.38B | $14.80B | $13.03B | $13.13B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $796.00M | $796.00M | $703.00M | $717.00M | $744.00M | $721.00M |
| Operating Income | $3.88B | $6.70B | $6.20B | $2.89B | $6.66B | $2.89B |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $666.00M | $1.00B | $1.13B | $605.00M | $934.00M | $348.00M |
| Net Income | $3.22B | $5.70B | $5.07B | $6.05B | $5.73B | $2.54B |
| EPS - Basic | $2.17 | $3.76 | $3.27 | $3.83 | $3.64 | $1.63 |
| EPS - Diluted | $2.16 | $3.73 | $3.23 | $3.75 | $3.56 | $1.60 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.46B | $9.86B | $7.44B | $8.57B | $9.89B | $8.35B |
| Accounts Receivable | $4.72B | $4.43B | $4.13B | $4.67B | $4.46B | $2.75B |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $3.48B | $2.85B | $2.86B | $3.36B | $2.84B | $2.25B |
| Current Assets | $23.36B | $25.38B | $25.20B | $28.21B | $26.29B | $20.56B |
| Total Assets | $36.58B | $38.11B | $37.53B | $40.32B | $37.74B | $31.34B |
| Current Liabilities | $10.57B | $10.59B | $9.26B | $10.73B | $9.67B | $8.28B |
| Long-term Debt | $7.96B | $7.90B | $8.93B | $8.92B | $9.41B | $9.41B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $13.21B | $14.43B | $14.00B | $15.28B | $12.77B | $8.05B |
| Retained Earnings | ($727.00M) | $965.00M | $1.36B | $3.48B | $3.18B | ($191.00M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.70B | $7.43B | $5.84B | $5.19B | $6.66B | $2.48B |
| Investing Cash Flow | ($275.00M) | $894.00M | $564.00M | ($1.52B) | ($3.80B) | ($1.03B) |
| Financing Cash Flow | ($5.82B) | ($5.89B) | ($7.45B) | ($4.84B) | ($1.46B) | $2.49B |
| CapEx | $430.00M | $812.00M | $969.00M | $758.00M | $695.00M | $1.09B |
| Free Cash Flow | $3.27B | $6.62B | $4.87B | $4.43B | $5.96B | $1.40B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 42.7% | 44.6% | 43.5% | 46.0% | 44.8% | 43.4% |
| Operating margin | 8.4% | 13.0% | 12.1% | 6.2% | 15.0% | 7.7% |
| EBITDA margin | 10.1% | 14.6% | 13.5% | 7.7% | 16.6% | 9.6% |
| Net margin | 7.0% | 11.1% | 9.9% | 12.9% | 12.9% | 6.8% |
| Free cash flow margin | 7.1% | 12.9% | 9.5% | 9.5% | 13.4% | 3.7% |
| FCF / Net income | 1.02 | 1.16 | 0.96 | 0.73 | 1.04 | 0.55 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 34.7% | 32.3% | 32.0% | 31.7% | 29.2% | 35.1% |
| Effective tax rate | 17.1% | 14.9% | 18.2% | 9.1% | 14.0% | 12.1% |
| Return on assets | 8.8% | 15.0% | 13.5% | 15.0% | 15.2% | 8.1% |
| Return on equity | 24.4% | 39.5% | 36.2% | 39.6% | 44.9% | 31.5% |
| Return on invested capital | 15.2% | 25.5% | 22.1% | 10.8% | 25.8% | 14.5% |
| Liquidity | ||||||
| Current ratio | 2.21 | 2.40 | 2.72 | 2.63 | 2.72 | 2.48 |
| Quick ratio | 2.21 | 2.40 | 2.72 | 2.63 | 2.72 | 2.48 |
| Cash ratio | 0.71 | 0.93 | 0.80 | 0.80 | 1.02 | 1.01 |
| Leverage | ||||||
| Debt / Equity | 0.60 | 0.55 | 0.64 | 0.58 | 0.74 | 1.17 |
| Debt / Assets | 0.22 | 0.21 | 0.24 | 0.22 | 0.25 | 0.30 |
| Debt / EBITDA | 1.70 | 1.05 | 1.29 | 2.48 | 1.27 | 2.61 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.77 | 2.64 | 2.68 | 2.64 | 2.96 | 3.89 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 1.27 | 1.35 | 1.36 | 1.16 | 1.18 | 1.19 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 37d | 31d | 29d | 36d | 37d | 27d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 48d | 37d | 36d | 49d | 42d | 39d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 28.1x | 25.5x | 32.6x | 31.7x | 38.3x | 61.6x |
| P / B | 6.8x | 10.1x | 11.8x | 12.5x | 17.2x | 19.5x |
| P / S | 1.9x | 2.8x | 3.2x | 4.1x | 4.9x | 4.2x |
| EV / EBITDA | 19.4x | 19.1x | 24.1x | 53.2x | 29.6x | 43.8x |
| Growth | ||||||
| Revenue growth (YoY) | -9.8% | 0.3% | 9.6% | 4.9% | 19.1% | -4.4% |
| Revenue CAGR (3y) | -0.3% | 4.9% | 11.0% | 6.1% | 7.0% | 2.9% |
| Revenue CAGR (5y) | 4.4% | 5.6% | 7.1% | 6.3% | 6.6% | 4.1% |
| Gross profit growth (YoY) | -13.5% | 2.7% | 3.8% | 7.6% | 22.9% | -7.1% |
| Operating income growth (YoY) | -42.0% | 8.0% | 114.8% | -56.7% | 130.7% | -39.9% |
| Net income growth (YoY) | -43.5% | 12.4% | -16.1% | 5.6% | 125.6% | -37.0% |
| EPS growth (YoY) | -42.1% | 15.5% | -13.9% | 5.3% | 122.5% | -35.7% |
| EPS CAGR (3y) | -16.8% | 1.6% | 26.4% | 14.6% | 44.9% | -13.9% |
| EPS CAGR (5y) | 6.2% | 8.4% | 22.5% | 8.4% | 10.5% | -15.4% |
| FCF growth (YoY) | -50.6% | 35.8% | 10.0% | -25.7% | 326.2% | -70.8% |
| FCF CAGR (5y) | 18.5% | 6.7% | 4.4% | 11.8% | 25.0% | -17.8% |
| Book value growth (YoY) | -8.4% | 3.0% | -8.4% | 19.7% | 58.5% | -10.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-31.
Business segments
$21.26B totalNIKEBrand$19.57B · 92.0%
Converse Segment$1.69B · 8.0%
Product / service
$19.62B totalFootwear$12.68B · 64.6%
Apparel$5.84B · 29.8%
Sporting Equipment$1.05B · 5.4%
Product And Service Other$48.00M · 0.2%
Geographic
$19.73B totalUS$19.73B · 100.0%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Rubber & Plastics Footwear
Comparing NIKE against the 3 most active filers in the same SIC group.
Dividends
$1.63/share trailing 12 months · +3.8% YoY
| Ex-date | Per share |
|---|---|
| Jun 1, 2026 | $0.4100 |
| Mar 2, 2026 | $0.4100 |
| Dec 1, 2025 | $0.4100 |
| Sep 2, 2025 | $0.4000 |
| Jun 2, 2025 | $0.4000 |
| Mar 3, 2025 | $0.4000 |
| Dec 2, 2024 | $0.4000 |
| Sep 3, 2024 | $0.3700 |
| Jun 3, 2024 | $0.3700 |
| Mar 1, 2024 | $0.3700 |
| Dec 1, 2023 | $0.3700 |
| Sep 1, 2023 | $0.3400 |
| Jun 2, 2023 | $0.3400 |
| Mar 3, 2023 | $0.3400 |
| Dec 2, 2022 | $0.3400 |
| Sep 2, 2022 | $0.3050 |
| Jun 3, 2022 | $0.3050 |
| Mar 4, 2022 | $0.3050 |
| Dec 3, 2021 | $0.3050 |
| Aug 27, 2021 | $0.2750 |
| May 28, 2021 | $0.2750 |
| Feb 26, 2021 | $0.2750 |
| Dec 4, 2020 | $0.2750 |
| Aug 28, 2020 | $0.2450 |