NIKE, Inc. Earnings Per Share Disclosure
| NOTE 10 — EARNINGS PER SHARE | ||
| YEAR ENDED MAY 31, | |||||||||||
(In millions, except per share data) | 2025 | 2024 | 2023 | ||||||||
| Net income available to common stockholders | $ | 3,219 | $ | 5,700 | $ | 5,070 | |||||
| Determination of shares: | |||||||||||
| Weighted average common shares outstanding | 1,484.9 | 1,517.6 | 1,551.6 | ||||||||
| Assumed conversion of dilutive stock options and awards | 2.7 | 12.1 | 18.2 | ||||||||
| DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 1,487.6 | 1,529.7 | 1,569.8 | ||||||||
| Earnings per common share: | |||||||||||
| Basic | $ | 2.17 | $ | 3.76 | $ | 3.27 | |||||
| Diluted | $ | 2.16 | $ | 3.73 | $ | 3.23 | |||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 17, 2025 | Showing above |
| 2024 | Jul 25, 2024 | |
| 2023 | Jul 20, 2023 | |
| 2022 | Jul 21, 2022 | |
| 2021 | Jul 20, 2021 | |
| 2020 | Jul 24, 2020 | |
| 2019 | Jul 23, 2019 | |
| 2018 | Jul 25, 2018 | |
| 2017 | Jul 20, 2017 | |
| 2016 | Jul 21, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.