Nike Inc. is a global leader in athletic footwear, apparel, and equipment, originally founded in 1964 and rebranded in 1971. The company leverages a hybrid business model featuring robust wholesale and emerging direct-to-consumer channels, with flagship products like Nike Air and Nike Zoom driving revenue. Under CEO John Donahoe’s leadership, Nike continues to innovate through digital transformation and sustainable initiatives. Its dominant market position and strategic growth plans make it a compelling stock in the consumer discretionary sector.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
46,309,000
51,362,000
51,217,000
46,710,000
Cost of Sales
26,519,000
28,475,000
28,925,000
25,231,000
Gross Profit
19,790,000
22,887,000
22,292,000
21,479,000
Selling, General & Administrative Expenses
16,088,000
16,576,000
16,377,000
14,804,000
Operating Profit
3,702,000
6,311,000
5,915,000
6,675,000
Interest Expense
107,000
161,000
6,000
(205,000)
Non-Operating Income
76,000
228,000
280,000
181,000
Total Non-Operating Income
183,000
389,000
286,000
(24,000)
Income Before Provision for Income Taxes
3,885,000
6,700,000
6,201,000
6,651,000
Provision for Income Taxes
666,000
1,000,000
1,131,000
605,000
Consolidated Net Income
3,219,000
5,700,000
5,070,000
6,046,000
Net Income Attributable to Common Shareholders
3,219,000
5,700,000
5,070,000
6,046,000
Basic EPS
2.17
3.76
3.27
3.83
Diluted EPS
2.16
3.73
3.23
3.75
Basic Weighted Average Shares Outstanding
1,484,900
1,517,600
1,551,600
1,578,800
Diluted Weighted Average Shares Outstanding
1,487,600
1,529,700
1,569,800
1,610,800
Shares Outstanding
1,476,000
1,503,000
1,532,000
1,571,000
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
7,464,000
9,860,000
7,441,000
8,574,000
Short-Term Investments
1,687,000
1,722,000
3,234,000
4,423,000
Total Cash and Cash Equivalents
9,151,000
11,582,000
10,675,000
12,997,000
Accounts Receivable
4,717,000
4,427,000
4,131,000
4,667,000
Total Trade Receivables
4,717,000
4,427,000
4,131,000
4,667,000
Inventories
7,489,000
7,519,000
8,454,000
8,420,000
Other Current Assets
2,005,000
1,854,000
1,942,000
2,129,000
Total Current Assets
23,362,000
25,382,000
25,202,000
28,213,000
Net Property, Plant & Equipment
7,540,000
7,718,000
8,004,000
7,717,000
Net Intangible Assets
259,000
259,000
274,000
286,000
Goodwill
240,000
240,000
281,000
284,000
Other Long-Term Assets
5,178,000
4,511,000
3,770,000
3,821,000
Total Assets
36,579,000
38,110,000
37,531,000
40,321,000
Accounts Payable
3,479,000
2,851,000
2,862,000
3,358,000
Accrued Expenses
5,911,000
5,725,000
5,723,000
6,220,000
Short-Term Debt
5,000
6,000
6,000
10,000
Current Portion of Long-Term Debt
—
1,000,000
—
500,000
Current Portion of Leases
502,000
477,000
425,000
420,000
Other Current Liabilities
669,000
534,000
240,000
222,000
Total Current Liabilities
10,566,000
10,593,000
9,256,000
10,730,000
Long-Term Debt
7,961,000
7,903,000
8,927,000
8,920,000
Leases
2,550,000
2,566,000
2,786,000
2,777,000
Other Long-Term Liabilities
2,289,000
2,618,000
2,558,000
2,613,000
Total Long-Term Liabilities
12,800,000
13,087,000
14,271,000
14,310,000
Total Liabilities
23,366,000
23,680,000
23,527,000
25,040,000
Common Stock
3,000
3,000
3,000
3,000
Additional Paid-in Capital
14,195,000
13,409,000
12,412,000
11,484,000
Accumulated Other Comprehensive Income
(258,000)
53,000
231,000
318,000
Retained Earnings
(727,000)
965,000
1,358,000
3,476,000
Total Common Shareholders' Equity
13,213,000
14,430,000
14,004,000
15,281,000
Total Shareholders' Equity
13,213,000
14,430,000
14,004,000
15,281,000
Total Liabilities and Shareholders' Equity
36,579,000
38,110,000
37,531,000
40,321,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
3,219,000
5,700,000
5,070,000
6,046,000
Depreciation & Amortization
775,000
796,000
703,000
717,000
Share-Based Compensation Expense
709,000
804,000
755,000
638,000
Other Adjustments
(218,000)
(587,000)
(174,000)
(553,000)
Changes in Trade Receivables
(257,000)
(329,000)
489,000
(504,000)
Changes in Inventories
120,000
908,000
(133,000)
(1,676,000)
Changes in Other Operating Activities
(650,000)
137,000
(869,000)
520,000
Cash from Operating Activities
3,698,000
7,429,000
5,841,000
5,188,000
Capital Expenditure
(430,000)
(812,000)
(969,000)
(758,000)
Purchases of Investments
(3,234,000)
(4,767,000)
(6,059,000)
(12,913,000)
Proceeds from Sale of Investments
3,381,000
6,488,000
7,540,000
12,166,000
Other Investing Activities
8,000
(15,000)
52,000
(19,000)
Cash from Investing Activities
(275,000)
894,000
564,000
(1,524,000)
Repayments of Long-Term Debt
(1,000,000)
—
(500,000)
—
Net Issuance / (Repayments) of Long-Term Debt
(1,000,000)
—
(500,000)
—
Issuance of Common Shares
551,000
667,000
651,000
1,151,000
Repurchases of Common Shares
(2,985,000)
(4,250,000)
(5,480,000)
(4,014,000)
Net Issuance / (Repurchases) of Common Shares
(2,434,000)
(3,583,000)
(4,829,000)
(2,863,000)
Common Share Dividends Paid
(2,300,000)
(2,169,000)
(2,012,000)
(1,837,000)
Other Financing Activities
(86,000)
(136,000)
(106,000)
(136,000)
Cash from Financing Activities
(5,820,000)
(5,888,000)
(7,447,000)
(4,836,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,000
(16,000)
(91,000)
(143,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash