NIKE, Inc.

Listed Company

NKECIK 0000320187NYSELarge AcceleratedRubber & Plastics FootwearOregonFY ends May 31

Period

FY 2025

Revenue

$46.31B

Net Income

$3.22B

Total Assets

$36.58B

Equity

$13.21B

Shares Out

855.35M

Op. Cash Flow

$3.70B

Business

NIKE, Inc. designs, develops and markets athletic footwear, apparel, equipment, accessories and interactive consumer services worldwide. It offers athletic and casual products under the NIKE, Jordan and Converse brands, including performance footwear, sports apparel, bags, balls, eyewear, digital devices, apps and sport-focused experiences. The business operates distinct reporting units for NIKE Brand geographies (North America; EMEA; Greater China; Asia Pacific & Latin America), a Jordan line reported within NIKE Brand segments, and a standalone Converse segment. NIKE sells through NIKE Direct (retail stores and digital platforms) and wholesale accounts, supported by global distribution centers.

Summary from filing dated 2025-07-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Revenues	46,309	51,362	51,217	46,710	44,538
Cost of sales	26,519	28,475	28,925	25,231	24,576
Gross profit	19,790	22,887	22,292	21,479	19,962
Demand creation expense	4,689	4,285	4,060	3,850	3,114
Operating overhead expense	11,399	12,291	12,317	10,954	9,911
Total selling and administrative expense	16,088	16,576	16,377	14,804	13,025
Interest expense (income), net	−107	−161	−6	205	262
Other (income) expense, net	−76	−228	−280	−181	14
Income before income taxes	3,885	6,700	6,201	6,651	6,661
Income tax expense	666	1,000	1,131	605	934
NET INCOME	3,219	5,700	5,070	6,046	5,727
Basic (in dollars per share)	2.17	3.76	3.27	3.83	3.64
Diluted (in dollars per share)	2.16	3.73	3.23	3.75	3.56
Basic (in shares)	1,485	1,518	1,552	1,579	1,573
Diluted (in shares)	1,488	1,530	1,570	1,611	1,609

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Cash and equivalents	7,464	9,860	7,441	8,574	9,889
Short-term investments	1,687	1,722	3,234	4,423	3,587
Accounts receivable, net	4,717	4,427	4,131	4,667	4,463
Inventories	7,489	7,519	8,454	8,420	6,854
Prepaid expenses and other current assets	2,005	1,854	1,942	2,129	1,498
Total current assets	23,362	25,382	25,202	28,213	26,291
Property, plant and equipment, net	4,828	5,000	5,081	4,791	4,904
Operating lease right-of-use assets, net	2,712	2,718	2,923	2,926	3,113
Identifiable intangible assets, net	259	259	274	286	269
Goodwill	240	240	281	284	242
Deferred income taxes and other assets	5,178	4,511	3,770	3,821	2,921
TOTAL ASSETS	36,579	38,110	37,531	40,321	37,740
Current portion of long-term debt	0	1,000	0	500	0
Notes payable	5	6	6	10	2
Accounts payable	3,479	2,851	2,862	3,358	2,836
Current portion of operating lease liabilities	502	477	425	420	467
Accrued liabilities	5,911	5,725	5,723	6,220	6,063
Income taxes payable	669	534	240	222	306
Total current liabilities	10,566	10,593	9,256	10,730	9,674
Long-term debt	7,961	7,903	8,927	8,920	9,413
Operating lease liabilities	2,550	2,566	2,786	2,777	2,931
Deferred income taxes and other liabilities	2,289	2,618	2,558	2,613	2,955
Commitments and contingencies (Note 16)	—	—	—	—	—
Redeemable preferred stock	0	0	0	0	0
Capital in excess of stated value	14,195	13,409	12,412	11,484	9,965
Accumulated other comprehensive income (loss)	−258	53	231	318	−380
Retained earnings (deficit)	−727	965	1,358	3,476	3,179
Total shareholders' equity	13,213	14,430	14,004	15,281	12,767
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	36,579	38,110	37,531	40,321	37,740

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation and amortization	775	796	703	—	—
Deferred income taxes	−288	−497	−117	−650	−385
Stock-based compensation	709	804	755	638	611
Impairment and other	33	48	156	—	—
Net foreign currency adjustments	37	−138	−213	−26	−138
(Increase) decrease in accounts receivable	−257	−329	489	−504	−1,606
(Increase) decrease in inventories	120	908	−133	−1,676	507
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and other current and non-current assets	−224	−260	−644	−845	−182
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities and other current and non-current liabilities	−426	397	−225	1,365	1,326
Cash provided (used) by operations	3,698	7,429	5,841	5,188	6,657
Purchases of short-term investments	−3,234	−4,767	−6,059	−12,913	−9,961
Maturities of short-term investments	319	2,269	3,356	8,199	4,236
Sales of short-term investments	3,062	4,219	4,184	3,967	2,449
Additions to property, plant and equipment	−430	−812	−969	−758	−695
Other investing activities	8	−15	52	−19	171
Cash provided (used) by investing activities	−275	894	564	−1,524	−3,800
Increase (decrease) in notes payable, net	−1	0	−4	15	−52
Repayment of borrowings	−1,000	0	−500	0	−197
Proceeds from exercise of stock options and other stock issuances	551	667	651	1,151	1,172
Repurchase of common stock	−2,985	−4,250	−5,480	−4,014	−608
Dividends common and preferred	−2,300	−2,169	−2,012	−1,837	−1,638
Other financing activities	−85	−136	−102	−151	−136
Cash provided (used) by financing activities	−5,820	−5,888	−7,447	−4,836	−1,459
Effect of exchange rate changes on cash and equivalents	1	−16	−91	−143	143
Net increase (decrease) in cash and equivalents	−2,396	2,419	−1,133	−1,315	1,541
Interest, net of capitalized interest	389	381	347	290	293
Income taxes	1,226	1,299	1,517	1,231	1,177
Non-cash additions to property, plant and equipment	184	160	211	160	179

Filings

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