Common-Size Balance Sheet: Assets
Quarterly Data
Nike Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31).
- Cash and equivalents
- The proportion of cash and equivalents relative to total assets experienced a notable increase in early 2020, peaking around May 2020 at 26.64%, likely reflecting a strategic liquidity buildup. Following this peak, the percentage fluctuated but generally trended downward to around 18.81% by mid-2025, indicating a gradual reallocation away from cash holdings over time.
- Short-term investments
- Short-term investments rose steadily from approximately 0.75% in late 2019 to a high exceeding 12% by early 2022, suggesting an increased emphasis on liquid, interest-bearing assets during that period. Post-2022, the percentage declined gradually, stabilizing between 4% and 5% into 2025, which may indicate a shift toward other asset classes or changes in investment strategy.
- Accounts receivable, net
- The share of net accounts receivable as a percent of total assets exhibited variability but maintained a range mostly between 9% and 18%. Notably, there was a sharp decline around May 2020 to under 9%, followed by a recovery and gradual increase reaching over 13% by mid-2025, reflecting fluctuations in credit sales or collection efficiency over the period.
- Inventories
- Inventory levels as a percentage of total assets showed moderate volatility, initially declining from over 23% in late 2019 to under 17% by late 2020. However, inventories generally regained weight thereafter, rising back above 23% in some quarters before settling around 21% by 2025. This pattern suggests adjustments in inventory management responding to demand and supply chain conditions.
- Prepaid expenses and other current assets
- The proportion of prepaid expenses and other current assets remained relatively stable, fluctuating mostly between 4% and 8% throughout the period. Slight dips around mid-2020 correspond with overall asset allocation shifts but without any marked long-term trend, indicating steady management of these assets.
- Current assets
- Current assets as a percent of total assets consistently comprised a significant majority, ranging approximately from 60% to nearly 70%. There was a noticeable peak in mid-2020 and early 2021, coinciding with elevated cash and short-term investments, followed by a slow decline toward around 64% by 2025, reflecting a gradual normalization of asset structure.
- Property, plant and equipment, net
- The net value of property, plant, and equipment consistently accounted for roughly 12% to 18% of total assets, with a decreasing trend observed from near 18% in late 2019 to closer to 13% by mid-2025. This may indicate depreciation outpacing new capital investments or strategic shifts in asset utilization.
- Operating lease right-of-use assets, net
- The share of operating lease assets experienced a decline from around 11% in early periods to lows near 7%, before modestly recovering to roughly 7% to 8% thereafter. This pattern may reflect the company’s evolving lease portfolio and changes in lease accounting or real estate strategy.
- Identifiable intangible assets, net
- Identifiable intangible assets remained a small, stable component, consistently comprising under 1% of total assets throughout the entire timeframe, indicating limited changes or additions in this category.
- Goodwill
- Goodwill similarly represented a minor and steady portion of total assets, fluctuating modestly around 0.6% to 0.8%, reflecting relatively stable acquisition activity or impairment events.
- Deferred income taxes and other assets
- Deferred income taxes and other non-current assets showed a marked upward trend, increasing from just under 8% to above 14% of total assets between 2019 and 2025. This notable increase suggests changes in tax strategy, timing differences, or growth in other deferred asset categories over time.
- Non-current assets
- The overall portion of non-current assets declined from nearly 40% in late 2019 to lows around 30% by 2020 and 2021, before rebounding gradually back toward 36% by mid-2025. This movement reflects shifts between current and non-current classifications, asset acquisitions, disposals, or revaluations influencing the asset structure.