NIKE, Inc. NKE

Industrials SIC 3021 - Rubber & Plastics Footwear NAICS Manufacturing › Leather and Allied Product Manufacturing › Footwear Manufacturing derived NYSE

NIKE, Inc. was incorporated in 1967 under the laws of the State of Oregon. As used in this Annual Report on Form 10-K (this "Annual Report"), the terms "we," "us," "our," "NIKE" and the "Company" refer to NIKE, Inc. and its predecessors, subsidiaries and affiliates, collectively, unless the context indicates otherwise.

Our principal business activity is the design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and services. NIKE is the largest seller of athletic footwear and apparel in the world. We sell our products through NIKE Direct operations, which are comprised of both NIKE-owned retail stores and sales through our digital platforms (also referred to as "NIKE Brand Digital") and to wholesale accounts, which include a mix of independent distributors, licensees and sales representatives in nearly all countries around the world. We also offer interactive consumer services and experiences. Nearly all of our products are manufactured by independent contractors. Nearly all footwear, apparel and equipment products are manufactured outside the United States.

Last close 37.30 2026-10-23
Market cap $55.20B estimated share count
52-week range 31.97 - 69.14

Valuation FY2025 figures against the last close

P/S1.2x
P/E17.8x
P/FCF25.3x
EV/EBITDA—
Dividend yield4.4%
Diluted EPS2.10

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $46.40B$46.31B$51.36B$51.22B$46.71B$44.54B$37.40B$39.12B$36.40B$34.35B
Cost of revenue $26.49B$26.52B$28.48B$28.93B$25.23B$24.58B$21.16B$21.64B$20.44B$19.04B
Gross profit $19.91B$19.79B$22.89B$22.29B$21.48B$19.96B$16.24B$17.47B$15.96B$15.31B
SG&A $16.11B$16.09B$16.58B$16.38B$14.80B$13.03B$13.13B$12.70B$11.51B$10.56B
Pre-tax income $3.90B$3.88B$6.70B$6.20B$6.65B$6.66B$2.89B$4.80B$4.33B$4.89B
Income tax $792.0M$666.0M$1.00B$1.13B$605.0M$934.0M$348.0M$772.0M$2.39B$646.0M
Net income $3.11B$3.22B$5.70B$5.07B$6.05B$5.73B$2.54B$4.03B$1.93B$4.24B
EPS, basic 2.102.173.763.273.833.641.632.551.192.56
EPS, diluted 2.102.163.733.233.753.561.602.491.172.51
Shares, diluted (wtd. avg.) 1.48B1.49B1.53B1.57B1.61B1.61B1.59B1.62B1.66B1.69B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $7.56B$7.46B$9.86B$7.44B$8.57B$9.89B$8.35B$4.47B$4.25B$3.81B
Short-term investments —————$3.59B$439.0M$197.0M$996.0M—
Receivables $5.93B$4.72B$4.43B$4.13B$4.67B$4.46B$2.75B$4.27B$3.50B$3.68B
Total current assets $24.60B$23.36B$25.38B$25.20B$28.21B$26.29B$20.56B$16.52B$15.13B$16.06B
Property, plant and equipment $4.80B$4.83B$5.00B$5.08B$4.79B$4.90B$4.87B$4.74B$4.45B$3.99B
Goodwill $240.0M$240.0M$240.0M$281.0M$284.0M$242.0M$223.0M$154.0M$154.0M$139.0M
Other intangibles $259.0M$259.0M$259.0M$274.0M$286.0M$269.0M$274.0M$283.0M$285.0M$283.0M
Total assets $38.41B$36.58B$38.11B$37.53B$40.32B$37.74B$31.34B$23.72B$22.54B$23.26B
Accounts payable $3.60B$3.48B$2.85B$2.86B$3.36B$2.84B$2.25B$2.61B$2.28B$2.05B
Short-term debt $2.00B$0$1.00B$0$500.0M$0$3.0M$6.0M$6.0M$6.0M
Total current liabilities $12.55B$10.57B$10.59B$9.26B$10.73B$9.67B$8.28B$7.87B$6.04B$5.47B
Long-term debt $5.94B$7.96B$7.90B$8.93B$8.92B$9.41B$9.41B$3.46B$3.47B$3.47B
Retained earnings -$155.0M-$727.0M$965.0M$1.36B$3.48B$3.18B-$191.0M$1.64B$3.52B$6.91B
Total equity $14.87B$13.21B$14.43B$14.00B$15.28B$12.77B$8.05B$9.04B$9.81B$12.41B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.87B$3.70B$7.43B$5.84B$5.19B$6.66B$2.48B$5.90B$4.96B$3.85B
Depreciation and amortisation $747.0M$775.0M$796.0M$703.0M$717.0M$744.0M$721.0M$705.0M$747.0M$706.0M
Stock-based compensation $715.0M$709.0M$804.0M$755.0M$638.0M$611.0M$429.0M$325.0M$218.0M$215.0M
Capital expenditure $684.0M$430.0M$812.0M$969.0M$758.0M$695.0M$1.09B$1.12B$1.03B$1.10B
Investing cash flow -$488.0M-$275.0M$894.0M$564.0M-$1.52B-$3.80B-$1.03B-$264.0M$276.0M-$1.01B
Financing cash flow -$2.29B-$5.82B-$5.89B-$7.45B-$4.84B-$1.46B$2.49B-$5.29B-$4.83B-$2.15B
Dividends paid $2.41B$2.30B$2.17B$2.01B$1.84B$1.64B$1.45B$1.33B$1.24B$1.13B
Buybacks $146.0M$2.98B$4.25B$5.48B$4.01B$608.0M$3.07B$4.29B$4.25B$3.22B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000320187-26-000088.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20B 40B 60B Revenue, FY2016: 34.4B Gross profit, FY2016: 15.3B Net income, FY2016: 4.2B Revenue, FY2017: 36.4B Gross profit, FY2017: 16B Net income, FY2017: 1.9B Revenue, FY2018: 39.1B Gross profit, FY2018: 17.5B Net income, FY2018: 4B Revenue, FY2019: 37.4B Gross profit, FY2019: 16.2B Net income, FY2019: 2.5B Revenue, FY2020: 44.5B Gross profit, FY2020: 20B Net income, FY2020: 5.7B Revenue, FY2021: 46.7B Gross profit, FY2021: 21.5B Net income, FY2021: 6B Revenue, FY2022: 51.2B Gross profit, FY2022: 22.3B Net income, FY2022: 5.1B Revenue, FY2023: 51.4B Gross profit, FY2023: 22.9B Net income, FY2023: 5.7B Revenue, FY2024: 46.3B Gross profit, FY2024: 19.8B Net income, FY2024: 3.2B Revenue, FY2025: 46.4B Gross profit, FY2025: 19.9B Net income, FY2025: 3.1B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $34.35B $36.40B $39.12B $37.40B $44.54B $46.71B $51.22B $51.36B $46.31B $46.40B
Gross profit $15.31B $15.96B $17.47B $16.24B $19.96B $21.48B $22.29B $22.89B $19.79B $19.91B
Net income $4.24B $1.93B $4.03B $2.54B $5.73B $6.05B $5.07B $5.70B $3.22B $3.11B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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