Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Nike Inc., profitability ratios (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Return on Sales
Gross profit margin 44.60% 44.84% 44.56% 44.30% 43.96% 43.52% 43.52% 43.85% 44.59% 45.38% 45.98% 46.20% 45.96% 45.28% 44.82% 43.26% 42.91% 43.15% 43.42% 44.87% 45.09% 45.06% 44.67%
Operating profit margin 11.18% 11.83% 12.29% 11.61% 11.76% 11.32% 11.55% 12.17% 12.99% 13.25% 14.29% 15.21% 15.48% 15.79% 15.58% 10.87% 9.67% 8.94% 8.33% 12.55% 12.84% 12.51% 12.20%
Net profit margin 9.98% 10.60% 11.10% 10.14% 10.28% 9.82% 9.90% 10.82% 11.47% 11.96% 12.94% 13.06% 13.32% 13.17% 12.86% 8.90% 7.39% 7.20% 6.79% 10.46% 11.21% 10.81% 10.30%
Return on Investment
Return on equity (ROE) 34.81% 38.02% 39.50% 36.77% 37.46% 36.16% 36.20% 37.70% 36.89% 35.65% 39.57% 41.30% 41.34% 42.41% 44.86% 28.73% 26.56% 29.16% 31.52% 47.74% 48.89% 46.78% 44.57%
Return on assets (ROA) 12.87% 14.00% 14.96% 14.00% 14.24% 13.73% 13.51% 14.31% 14.21% 13.73% 14.99% 15.45% 15.85% 16.04% 15.17% 9.47% 8.11% 8.09% 8.10% 16.47% 17.19% 16.40% 16.99%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Nike Inc. gross profit margin ratio improved from Q4 2024 to Q1 2025 but then slightly deteriorated from Q1 2025 to Q2 2025 not reaching Q4 2024 level.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Nike Inc. operating profit margin ratio deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Nike Inc. net profit margin ratio deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Nike Inc. ROE deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.
ROA A profitability ratio calculated as net income divided by total assets. Nike Inc. ROA deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.

Gross Profit Margin

Nike Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Gross profit 5,389 5,257 5,634 5,562 5,971 5,720 5,595 5,371 5,711 5,615 5,503 5,067 5,213 5,696 5,655 4,719 4,847 4,741 2,353 4,473 4,544 4,871 4,633 4,339 4,105 4,397
Revenues 12,354 11,589 12,606 12,429 13,388 12,939 12,825 12,390 13,315 12,687 12,234 10,871 11,357 12,248 12,344 10,357 11,243 10,594 6,313 10,104 10,326 10,660 10,184 9,611 9,374 9,948
Profitability Ratio
Gross profit margin1 44.60% 44.84% 44.56% 44.30% 43.96% 43.52% 43.52% 43.85% 44.59% 45.38% 45.98% 46.20% 45.96% 45.28% 44.82% 43.26% 42.91% 43.15% 43.42% 44.87% 45.09% 45.06% 44.67%
Benchmarks
Gross Profit Margin, Competitors2
lululemon athletica inc. 58.54% 58.34% 58.31% 56.97% 56.75% 56.16% 55.39% 56.25% 56.53% 56.88% 57.68% 57.80% 57.62% 56.87% 55.98% 55.58% 55.31% 55.50% 55.87% 55.51% 55.38% 55.34% 55.23%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q2 2025 Calculation
Gross profit margin = 100 × (Gross profitQ2 2025 + Gross profitQ1 2025 + Gross profitQ4 2024 + Gross profitQ3 2024) ÷ (RevenuesQ2 2025 + RevenuesQ1 2025 + RevenuesQ4 2024 + RevenuesQ3 2024)
= 100 × (5,389 + 5,257 + 5,634 + 5,562) ÷ (12,354 + 11,589 + 12,606 + 12,429) = 44.60%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Nike Inc. gross profit margin ratio improved from Q4 2024 to Q1 2025 but then slightly deteriorated from Q1 2025 to Q2 2025 not reaching Q4 2024 level.

Operating Profit Margin

Nike Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Operating income 1,384 1,209 1,546 1,336 1,825 1,604 1,221 1,412 1,587 1,695 1,468 1,629 1,454 2,124 1,913 1,678 1,580 1,766 (838) 1,190 1,220 1,543 1,227 1,248 963 1,334
Revenues 12,354 11,589 12,606 12,429 13,388 12,939 12,825 12,390 13,315 12,687 12,234 10,871 11,357 12,248 12,344 10,357 11,243 10,594 6,313 10,104 10,326 10,660 10,184 9,611 9,374 9,948
Profitability Ratio
Operating profit margin1 11.18% 11.83% 12.29% 11.61% 11.76% 11.32% 11.55% 12.17% 12.99% 13.25% 14.29% 15.21% 15.48% 15.79% 15.58% 10.87% 9.67% 8.94% 8.33% 12.55% 12.84% 12.51% 12.20%
Benchmarks
Operating Profit Margin, Competitors2
lululemon athletica inc. 22.27% 22.02% 22.17% 16.69% 17.51% 17.29% 16.38% 21.49% 21.38% 21.07% 21.31% 20.50% 20.78% 19.71% 18.63% 19.13% 19.37% 20.60% 22.34% 21.45% 21.34% 21.35% 21.46%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q2 2025 Calculation
Operating profit margin = 100 × (Operating incomeQ2 2025 + Operating incomeQ1 2025 + Operating incomeQ4 2024 + Operating incomeQ3 2024) ÷ (RevenuesQ2 2025 + RevenuesQ1 2025 + RevenuesQ4 2024 + RevenuesQ3 2024)
= 100 × (1,384 + 1,209 + 1,546 + 1,336) ÷ (12,354 + 11,589 + 12,606 + 12,429) = 11.18%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Nike Inc. operating profit margin ratio deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.

Net Profit Margin

Nike Inc., net profit margin calculation (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Net income 1,163 1,051 1,500 1,172 1,578 1,450 1,031 1,240 1,331 1,468 1,439 1,396 1,337 1,874 1,509 1,449 1,251 1,518 (790) 847 1,115 1,367 989 1,101 847 1,092
Revenues 12,354 11,589 12,606 12,429 13,388 12,939 12,825 12,390 13,315 12,687 12,234 10,871 11,357 12,248 12,344 10,357 11,243 10,594 6,313 10,104 10,326 10,660 10,184 9,611 9,374 9,948
Profitability Ratio
Net profit margin1 9.98% 10.60% 11.10% 10.14% 10.28% 9.82% 9.90% 10.82% 11.47% 11.96% 12.94% 13.06% 13.32% 13.17% 12.86% 8.90% 7.39% 7.20% 6.79% 10.46% 11.21% 10.81% 10.30%
Benchmarks
Net Profit Margin, Competitors2
lululemon athletica inc. 16.34% 16.09% 16.12% 10.89% 11.40% 11.24% 10.54% 15.66% 15.60% 15.36% 15.59% 14.87% 14.96% 14.17% 13.38% 13.69% 13.94% 15.01% 16.22% 15.10% 14.93% 14.77% 14.71%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q2 2025 Calculation
Net profit margin = 100 × (Net incomeQ2 2025 + Net incomeQ1 2025 + Net incomeQ4 2024 + Net incomeQ3 2024) ÷ (RevenuesQ2 2025 + RevenuesQ1 2025 + RevenuesQ4 2024 + RevenuesQ3 2024)
= 100 × (1,163 + 1,051 + 1,500 + 1,172) ÷ (12,354 + 11,589 + 12,606 + 12,429) = 9.98%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Nike Inc. net profit margin ratio deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.

Return on Equity (ROE)

Nike Inc., ROE calculation (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Net income 1,163 1,051 1,500 1,172 1,578 1,450 1,031 1,240 1,331 1,468 1,439 1,396 1,337 1,874 1,509 1,449 1,251 1,518 (790) 847 1,115 1,367 989 1,101 847 1,092
Shareholders’ equity 14,037 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Profitability Ratio
ROE1 34.81% 38.02% 39.50% 36.77% 37.46% 36.16% 36.20% 37.70% 36.89% 35.65% 39.57% 41.30% 41.34% 42.41% 44.86% 28.73% 26.56% 29.16% 31.52% 47.74% 48.89% 46.78% 44.57%
Benchmarks
ROE, Competitors2
lululemon athletica inc. 40.49% 37.47% 36.63% 28.38% 28.51% 28.77% 27.15% 38.48% 38.55% 38.24% 35.60% 32.75% 30.94% 26.71% 23.02% 25.76% 26.96% 31.46% 33.07% 34.33% 35.46% 36.97% 33.46%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q2 2025 Calculation
ROE = 100 × (Net incomeQ2 2025 + Net incomeQ1 2025 + Net incomeQ4 2024 + Net incomeQ3 2024) ÷ Shareholders’ equity
= 100 × (1,163 + 1,051 + 1,500 + 1,172) ÷ 14,037 = 34.81%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Nike Inc. ROE deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.

Return on Assets (ROA)

Nike Inc., ROA calculation (quarterly data)

Microsoft Excel
Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Net income 1,163 1,051 1,500 1,172 1,578 1,450 1,031 1,240 1,331 1,468 1,439 1,396 1,337 1,874 1,509 1,449 1,251 1,518 (790) 847 1,115 1,367 989 1,101 847 1,092
Total assets 37,959 37,867 38,110 37,356 37,203 36,786 37,531 38,294 39,647 41,088 40,321 39,577 38,917 37,917 37,740 36,185 34,836 33,258 31,342 26,220 26,602 26,249 23,717 22,921 22,677 22,483
Profitability Ratio
ROA1 12.87% 14.00% 14.96% 14.00% 14.24% 13.73% 13.51% 14.31% 14.21% 13.73% 14.99% 15.45% 15.85% 16.04% 15.17% 9.47% 8.11% 8.09% 8.10% 16.47% 17.19% 16.40% 16.99%
Benchmarks
ROA, Competitors2
lululemon athletica inc. 24.21% 23.16% 21.86% 16.61% 16.81% 17.14% 15.25% 22.03% 22.39% 21.72% 19.73% 19.04% 18.76% 16.29% 14.07% 15.36% 15.44% 18.04% 19.67% 19.83% 19.83% 20.51% 23.21%

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q2 2025 Calculation
ROA = 100 × (Net incomeQ2 2025 + Net incomeQ1 2025 + Net incomeQ4 2024 + Net incomeQ3 2024) ÷ Total assets
= 100 × (1,163 + 1,051 + 1,500 + 1,172) ÷ 37,959 = 12.87%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Nike Inc. ROA deteriorated from Q4 2024 to Q1 2025 and from Q1 2025 to Q2 2025.