Nike Inc Cl B Financials

NKE

Source SEC Filings (10-K/10-Q) Updated Nov 30, 2025 Currency USD FYE May

Financial Health Signals

Financial Profile 58/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Nike Inc Cl B's revenue declined 9.8% year-over-year, from $51.4B to $46.3B. This contraction results in a growth score of 0/100.

Leverage

Nike Inc Cl B carries a low D/E ratio of 0.60, meaning only $0.60 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.21, Nike Inc Cl B holds $2.21 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 68/100.

Cash Flow

Nike Inc Cl B has a free cash flow margin of 7.1%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Nike Inc Cl B earns a strong 24.4% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 97/100. This is down from 39.5% the prior year.

Piotroski F-Score Weak

3/9

Nike Inc Cl B passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.15x

For every $1 of reported earnings, Nike Inc Cl B generates $1.15 in operating cash flow ($3.7B OCF vs $3.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Nike Inc Cl B (NKE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Export CSV

Key Financial Metrics

Revenue

$46.3B

YoY-9.8%

5Y CAGR+4.4%

10Y CAGR+4.2%

Nike Inc Cl B generated $46.3B in revenue in fiscal year 2025. This represents a decrease of 9.8% from the prior year.

EBITDA

N/A

Free Cash Flow

$3.3B

YoY-50.6%

5Y CAGR+18.5%

10Y CAGR-1.3%

Nike Inc Cl B generated $3.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 50.6% from the prior year.

Net Income

$3.2B

YoY-43.5%

5Y CAGR+4.9%

10Y CAGR-0.2%

Nike Inc Cl B reported $3.2B in net income in fiscal year 2025. This represents a decrease of 43.5% from the prior year.

EPS (Diluted)

$2.16

YoY-42.1%

5Y CAGR+6.2%

10Y CAGR+1.6%

Nike Inc Cl B earned $2.16 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 42.1% from the prior year.

Cash & Debt

$7.5B

YoY-24.3%

5Y CAGR-2.2%

10Y CAGR+6.8%

Nike Inc Cl B held $7.5B in cash against $8.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.57

YoY+8.3%

5Y CAGR+10.5%

10Y CAGR+11.3%

Nike Inc Cl B paid $1.57 per share in dividends in fiscal year 2025. This represents an increase of 8.3% from the prior year.

Shares Outstanding

N/A

Gross Margin

42.7%

YoY-1.8pp

5Y CAGR-0.7pp

10Y CAGR-3.2pp

Nike Inc Cl B's gross margin was 42.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the prior year.

Operating Margin

N/A

Net Margin

7.0%

YoY-4.1pp

5Y CAGR+0.2pp

10Y CAGR-3.7pp

Nike Inc Cl B's net profit margin was 7.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.1 percentage points from the prior year.

Return on Equity

24.4%

YoY-15.1pp

5Y CAGR-7.2pp

10Y CAGR-1.4pp

Nike Inc Cl B's ROE was 24.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$3.0B

YoY-29.8%

5Y CAGR-0.5%

10Y CAGR+1.7%

Nike Inc Cl B spent $3.0B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 29.8% from the prior year.

Capital Expenditures

$430.0M

YoY-47.0%

5Y CAGR-16.9%

10Y CAGR-7.7%

Nike Inc Cl B invested $430.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 47.0% from the prior year.

NKE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$46.3B-9.8%	$51.4B+0.3%	$51.2B+9.6%	$46.7B+4.9%	$44.5B+19.1%	$37.4B
Cost of Revenue	$26.5B-6.9%	$28.5B-1.6%	$28.9B+14.6%	$25.2B+2.7%	$24.6B+16.1%	$21.2B
Gross Profit	$19.8B-13.5%	$22.9B+2.7%	$22.3B+3.8%	$21.5B+7.6%	$20.0B+22.9%	$16.2B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$16.1B-2.9%	$16.6B+1.2%	$16.4B+10.6%	$14.8B+13.7%	$13.0B-0.8%	$13.1B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$666.0M-33.4%	$1.0B-11.6%	$1.1B+86.9%	$605.0M-35.2%	$934.0M+168.4%	$348.0M
Net Income	$3.2B-43.5%	$5.7B+12.4%	$5.1B-16.1%	$6.0B+5.6%	$5.7B+125.6%	$2.5B
EPS (Diluted)	$2.16-42.1%	$3.73+15.5%	$3.23-13.9%	$3.75+5.3%	$3.56+122.5%	$1.60

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Revenue	$12.4B+6.0%	$11.7B+4.0%	$11.3B-8.8%	$12.4B+6.6%	$11.6B-6.8%	$12.4B-7.2%	$13.4B+3.5%	$12.9B
Cost of Revenue	$7.4B+8.9%	$6.8B+2.8%	$6.6B-5.3%	$7.0B+10.0%	$6.3B-7.8%	$6.9B-7.4%	$7.4B+2.7%	$7.2B
Gross Profit	$5.0B+2.1%	$4.9B+5.7%	$4.7B-13.2%	$5.4B+2.5%	$5.3B-5.5%	$5.6B-6.8%	$6.0B+4.4%	$5.7B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$4.0B+0.6%	$4.0B+3.3%	$3.9B-2.9%	$4.0B-1.1%	$4.0B-4.2%	$4.2B+1.9%	$4.1B+0.7%	$4.1B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$207.0M+6.2%	$195.0M+290.0%	$50.0M-80.2%	$253.0M-1.2%	$256.0M+10.3%	$232.0M-32.6%	$344.0M+73.7%	$198.0M
Net Income	$792.0M+8.9%	$727.0M-8.4%	$794.0M-31.7%	$1.2B+10.7%	$1.1B-10.3%	$1.2B-25.7%	$1.6B+8.8%	$1.4B
EPS (Diluted)	$0.53+8.2%	$0.49-9.3%	$0.54-30.8%	$0.78+11.4%	$0.70-9.1%	$0.77-25.2%	$1.03+9.6%	$0.94

NKE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$36.6B-4.0%	$38.1B+1.5%	$37.5B-6.9%	$40.3B+6.8%	$37.7B+20.4%	$31.3B
Current Assets	$23.4B-8.0%	$25.4B+0.7%	$25.2B-10.7%	$28.2B+7.3%	$26.3B+27.9%	$20.6B
Cash & Equivalents	$7.5B-24.3%	$9.9B+32.5%	$7.4B-13.2%	$8.6B-13.3%	$9.9B+18.5%	$8.3B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$4.7B+6.6%	$4.4B+7.2%	$4.1B-11.5%	$4.7B+4.6%	$4.5B+62.3%	$2.7B
Goodwill	$240.0M0.0%	$240.0M-14.6%	$281.0M-1.1%	$284.0M+17.4%	$242.0M+8.5%	$223.0M
Total Liabilities	$23.4B-1.3%	$23.7B+0.7%	$23.5B-6.0%	$25.0B+0.3%	$25.0B+7.2%	$23.3B
Current Liabilities	$10.6B-0.3%	$10.6B+14.4%	$9.3B-13.7%	$10.7B+10.9%	$9.7B+16.8%	$8.3B
Long-Term Debt	$8.0B+0.7%	$7.9B-11.5%	$8.9B+0.1%	$8.9B-5.2%	$9.4B+0.1%	$9.4B
Total Equity	$13.2B-8.4%	$14.4B+3.0%	$14.0B-8.4%	$15.3B+19.7%	$12.8B+58.5%	$8.1B
Retained Earnings	-$727.0M-175.3%	$965.0M-28.9%	$1.4B-60.9%	$3.5B+9.3%	$3.2B+1764.4%	-$191.0M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Total Assets	$37.8B+1.2%	$37.3B-1.2%	$37.8B-0.4%	$38.0B+0.2%	$37.9B+1.4%	$37.4B+0.4%	$37.2B+1.1%	$36.8B
Current Assets	$24.0B+0.5%	$23.9B-2.9%	$24.6B-1.5%	$25.0B-0.2%	$25.0B+1.2%	$24.8B+0.5%	$24.6B+1.6%	$24.3B
Cash & Equivalents	$7.0B-0.7%	$7.0B-18.3%	$8.6B+7.8%	$8.0B-6.0%	$8.5B-5.3%	$9.0B+13.1%	$7.9B+28.2%	$6.2B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$5.7B+15.6%	$5.0B+10.5%	$4.5B-15.3%	$5.3B+11.3%	$4.8B+5.3%	$4.5B-5.4%	$4.8B+0.7%	$4.7B
Goodwill	$240.0M0.0%	$240.0M+0.4%	$239.0M-0.4%	$240.0M0.0%	$240.0M0.0%	$240.0M-14.6%	$281.0M0.0%	$281.0M
Total Liabilities	$23.7B-0.7%	$23.9B+0.3%	$23.8B-0.6%	$23.9B0.0%	$23.9B+3.4%	$23.1B+0.3%	$23.1B+1.1%	$22.8B
Current Liabilities	$11.6B+6.7%	$10.9B-2.8%	$11.2B-0.2%	$11.2B+5.8%	$10.6B+17.7%	$9.0B+0.3%	$9.0B+6.4%	$8.5B
Long-Term Debt	$7.0B-12.3%	$8.0B+0.5%	$8.0B-0.2%	$8.0B-0.3%	$8.0B-10.4%	$8.9B0.0%	$8.9B0.0%	$8.9B
Total Equity	$14.1B+4.6%	$13.5B-3.8%	$14.0B-0.2%	$14.0B+0.7%	$13.9B-2.0%	$14.2B+0.6%	$14.1B+1.3%	$14.0B
Retained Earnings	-$519.0M+25.9%	-$700.0M-300.0%	-$175.0M-424.1%	$54.0M-86.9%	$411.0M-57.6%	$970.0M-15.7%	$1.2B-7.3%	$1.2B

NKE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.7B-50.2%	$7.4B+27.2%	$5.8B+12.6%	$5.2B-22.1%	$6.7B+167.9%	$2.5B
Capital Expenditures	$430.0M-47.0%	$812.0M-16.2%	$969.0M+27.8%	$758.0M+9.1%	$695.0M-36.0%	$1.1B
Free Cash Flow	$3.3B-50.6%	$6.6B+35.8%	$4.9B+10.0%	$4.4B-25.7%	$6.0B+326.2%	$1.4B
Investing Cash Flow	-$275.0M-130.8%	$894.0M+58.5%	$564.0M+137.0%	-$1.5B+59.9%	-$3.8B-269.6%	-$1.0B
Financing Cash Flow	-$5.8B+1.2%	-$5.9B+20.9%	-$7.4B-54.0%	-$4.8B-231.5%	-$1.5B-158.6%	$2.5B
Dividends Paid	$2.3B+6.0%	$2.2B+7.8%	$2.0B+9.5%	$1.8B+12.1%	$1.6B+12.8%	$1.5B
Share Buybacks	$3.0B-29.8%	$4.3B-22.4%	$5.5B+36.5%	$4.0B+560.2%	$608.0M-80.2%	$3.1B

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Operating Cash Flow	$579.0M+160.8%	$222.0M-87.6%	$1.8B+70.8%	$1.0B+166.2%	$394.0M-80.9%	$2.1B-26.9%	$2.8B+4368.2%	-$66.0M
Capital Expenditures	$193.0M-6.8%	$207.0M+155.6%	$81.0M-37.2%	$129.0M+7.5%	$120.0M-14.9%	$141.0M-31.2%	$205.0M-19.0%	$253.0M
Free Cash Flow	$386.0M+2473.3%	$15.0M-99.1%	$1.7B+86.0%	$920.0M+235.8%	$274.0M-85.7%	$1.9B-26.6%	$2.6B+918.8%	-$319.0M
Investing Cash Flow	-$49.0M+16.9%	-$59.0M-20.4%	-$49.0M+33.8%	-$74.0M+55.4%	-$166.0M-153.7%	$309.0M-32.4%	$457.0M+9.3%	$418.0M
Financing Cash Flow	-$579.0M+3.2%	-$598.0M+45.9%	-$1.1B+23.6%	-$1.4B+10.7%	-$1.6B-23.2%	-$1.3B+15.1%	-$1.6B+2.9%	-$1.6B
Dividends Paid	$611.0M+3.4%	$591.0M-0.5%	$594.0M-0.5%	$597.0M+7.0%	$558.0M-0.5%	$561.0M-0.7%	$565.0M+7.8%	$524.0M
Share Buybacks	$20.0M-84.1%	$126.0M-75.1%	$506.0M-53.8%	$1.1B-7.4%	$1.2B+34.1%	$883.0M-26.3%	$1.2B+5.7%	$1.1B

NKE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	42.7%-1.8pp	44.6%+1.0pp	43.5%-2.5pp	46.0%+1.2pp	44.8%+1.4pp	43.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	7.0%-4.1pp	11.1%+1.2pp	9.9%-3.0pp	12.9%+0.1pp	12.9%+6.1pp	6.8%
Return on Equity	24.4%-15.1pp	39.5%+3.3pp	36.2%-3.4pp	39.6%-5.3pp	44.9%+13.3pp	31.5%
Return on Assets	8.8%-6.2pp	15.0%+1.5pp	13.5%-1.5pp	15.0%-0.2pp	15.2%+7.1pp	8.1%
Current Ratio	2.21-0.2	2.40-0.3	2.72+0.1	2.63-0.1	2.72+0.2	2.48
Debt-to-Equity	0.60+0.1	0.55-0.1	0.64+0.1	0.58-0.2	0.74-0.4	1.17
FCF Margin	7.1%-5.8pp	12.9%+3.4pp	9.5%+0.0pp	9.5%-3.9pp	13.4%+9.6pp	3.7%

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Gross Margin	40.6%-1.6pp	42.2%+0.7pp	41.5%-2.1pp	43.6%-1.7pp	45.4%+0.6pp	44.8%+0.2pp	44.6%+0.4pp	44.2%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	6.4%+0.2pp	6.2%-0.8pp	7.0%-2.4pp	9.4%+0.3pp	9.1%-0.4pp	9.4%-2.4pp	11.8%+0.6pp	11.2%
Return on Equity	5.6%+0.2pp	5.4%-0.3pp	5.7%-2.6pp	8.3%+0.8pp	7.5%-0.7pp	8.2%-2.9pp	11.2%+0.8pp	10.4%
Return on Assets	2.1%+0.2pp	1.9%-0.2pp	2.1%-1.0pp	3.1%+0.3pp	2.8%-0.4pp	3.1%-1.1pp	4.2%+0.3pp	3.9%
Current Ratio	2.06-0.1	2.190.0	2.19-0.0	2.22-0.1	2.36-0.4	2.740.0	2.74-0.1	2.87
Debt-to-Equity	0.50-0.1	0.59+0.0	0.570.0	0.570.0	0.57-0.1	0.630.0	0.630.0	0.64
FCF Margin	3.1%+3.0pp	0.1%-15.0pp	15.2%+7.7pp	7.4%+5.1pp	2.4%-13.1pp	15.4%-4.1pp	19.5%+22.0pp	-2.5%

Similar Companies

Deckers Outdoor Corp DECK

$16.4B

On Hldg Ag ONON

$15.0B

Skechers Usa SKX

$9.5B

Birkenstock Holding PLC BIRK

$7.3B

Wolverine World WWW

$1.4B

Frequently Asked Questions

What is Nike Inc Cl B's annual revenue?

Nike Inc Cl B (NKE) reported $46.3B in total revenue for fiscal year 2025. This represents a -9.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Nike Inc Cl B's revenue growing?

Nike Inc Cl B (NKE) revenue declined by 9.8% year-over-year, from $51.4B to $46.3B in fiscal year 2025.

Is Nike Inc Cl B profitable?

Yes, Nike Inc Cl B (NKE) reported a net income of $3.2B in fiscal year 2025, with a net profit margin of 7.0%.

What is Nike Inc Cl B's earnings per share (EPS)?

Nike Inc Cl B (NKE) reported diluted earnings per share of $2.16 for fiscal year 2025. This represents a -42.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Nike Inc Cl B have?

As of fiscal year 2025, Nike Inc Cl B (NKE) had $7.5B in cash and equivalents against $8.0B in long-term debt.

What is Nike Inc Cl B's gross margin?

Nike Inc Cl B (NKE) had a gross margin of 42.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Nike Inc Cl B's net profit margin?

Nike Inc Cl B (NKE) had a net profit margin of 7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Nike Inc Cl B pay dividends?

Yes, Nike Inc Cl B (NKE) paid $1.57 per share in dividends during fiscal year 2025.

What is Nike Inc Cl B's return on equity (ROE)?

Nike Inc Cl B (NKE) has a return on equity of 24.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Nike Inc Cl B's free cash flow?

Nike Inc Cl B (NKE) generated $3.3B in free cash flow during fiscal year 2025. This represents a -50.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Nike Inc Cl B's operating cash flow?

Nike Inc Cl B (NKE) generated $3.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Nike Inc Cl B's total assets?

Nike Inc Cl B (NKE) had $36.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Nike Inc Cl B's capital expenditures?

Nike Inc Cl B (NKE) invested $430.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Nike Inc Cl B buy back shares?

Yes, Nike Inc Cl B (NKE) spent $3.0B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Nike Inc Cl B's current ratio?

Nike Inc Cl B (NKE) had a current ratio of 2.21 as of fiscal year 2025, which is generally considered healthy.

What is Nike Inc Cl B's debt-to-equity ratio?

Nike Inc Cl B (NKE) had a debt-to-equity ratio of 0.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Nike Inc Cl B's return on assets (ROA)?

Nike Inc Cl B (NKE) had a return on assets of 8.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Nike Inc Cl B's Piotroski F-Score?

Nike Inc Cl B (NKE) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Nike Inc Cl B's earnings high quality?

Nike Inc Cl B (NKE) has an earnings quality ratio of 1.15x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Nike Inc Cl B?

Nike Inc Cl B (NKE) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.