Common-Size Balance Sheet: Assets
Quarterly Data
Nike Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-Q (reporting date: 2025-08-31), 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31).
The asset composition reveals a dynamic shift in liquidity and resource allocation over the analyzed period. While current assets initially dominated the balance sheet, peaking at 70.28% in August 2022, there is a subsequent gradual contraction toward 64.05% by May 2026. Conversely, non-current assets, which reached a low of 29.72% in August 2022, have expanded to represent 35.95% of total assets by the end of the period.
- Liquidity and Cash Management
- Cash and equivalents exhibit significant volatility, fluctuating between a high of 28.27% in August 2021 and a low of 16.37% in November 2022. A notable trend is observed in short-term investments, which increased from 4.01% in August 2020 to a peak of 12.03% in February 2022, before entering a consistent decline to 3.81% by May 2026. This suggests a strategic shift away from liquid marketable securities over the latter half of the period.
- Working Capital Components
- Accounts receivable, net, show a general upward trajectory, rising from 11.46% in August 2020 to 15.44% by May 2026, indicating that a larger portion of total assets is increasingly tied up in unpaid customer invoices. Inventories experienced a period of substantial growth, climbing from 20.16% in August 2020 to a peak of 23.64% in August 2023, before stabilizing around 19.53% in May 2026. The sustained elevation of inventory levels compared to the baseline suggests changes in supply chain management or demand forecasting.
- Non-Current Asset Evolution
- A structural decline is evident in physical asset intensity. Property, plant and equipment, net, decreased from 14.94% to 12.49%, while operating lease right-of-use assets fell from 9.50% to 7.39%. The growth in total non-current assets is primarily driven by deferred income taxes and other assets, which surged from 8.12% in August 2020 to 14.77% in May 2026. This shift indicates that a growing segment of the company's long-term value is held in non-physical, accounting-based assets rather than tangible infrastructure.
- Intangibles and Goodwill
- Identifiable intangible assets and goodwill remained relatively stable and minimal throughout the period, consistently representing less than 1% of total assets each. This suggests that organic growth or the amortization of existing intangibles outweighed any significant new acquisitions that would materially alter the asset structure.
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