Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Nike Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Nike Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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), 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).
The liabilities and stockholders’ equity of the company demonstrate notable fluctuations over the analyzed period, spanning from August 2019 to November 2025. Total liabilities experienced a significant increase between fiscal year 2019 and 2021, followed by a period of relative stabilization and then a decline towards the end of the observed timeframe. Stockholders’ equity generally trended upwards, with some volatility, particularly in the earlier years, before exhibiting more consistent growth.
- Current Liabilities
- Current liabilities generally increased from approximately US$8.1 billion in August 2019 to a peak of US$11.2 billion in May 2022. Subsequently, these liabilities decreased, fluctuating between US$10.6 billion and US$11.2 billion before settling around US$10.6 billion in November 2025. Accounts payable consistently represent the largest component of current liabilities, exhibiting a similar pattern of increase and subsequent moderation. Income taxes payable show considerable variability, peaking in May 2024 and November 2024, potentially reflecting timing differences in tax payments. A substantial increase in the current portion of long-term debt is observed beginning in May 2022, reaching US$1 billion by February 2024 and remaining at that level through November 2025.
- Long-Term Liabilities
- Long-term debt, excluding the current portion, remained relatively stable around US$9.4 billion between August 2019 and May 2020, then increased substantially to approximately US$9.4 billion. It then decreased to around US$8 billion by November 2025. Operating lease liabilities, excluding the current portion, followed a similar trend, increasing from around US$2.7 billion in August 2019 to approximately US$2.8 billion in November 2025. Deferred income taxes and other liabilities exhibited a gradual decline over the period, decreasing from approximately US$2.8 billion in August 2019 to around US$2.3 billion in November 2025. Overall, non-current liabilities increased significantly between 2019 and 2021, then decreased gradually.
- Stockholders’ Equity
- Stockholders’ equity demonstrated a general upward trend, increasing from approximately US$9.2 billion in August 2019 to US$14.1 billion in November 2025. Capital in excess of stated value is the largest component of stockholders’ equity, consistently increasing throughout the period. Retained earnings experienced a significant decline in the fiscal year ending May 2020, resulting in a deficit, before recovering and exhibiting growth. Accumulated other comprehensive income (loss) fluctuated considerably, with a notable loss in the fiscal year ending May 2020, followed by periods of both gains and losses. Common stock remained constant throughout the period.
The company’s overall financial structure shifted over the analyzed period. The initial increase in total liabilities, particularly current liabilities, suggests a potential increase in short-term financing needs or operational demands. The subsequent stabilization and decline in liabilities, coupled with the consistent growth in stockholders’ equity, indicate improved financial health and a stronger equity base. The significant increase in the current portion of long-term debt in 2022 and beyond warrants further investigation to understand the company’s debt management strategy.