Stock Analysis on Net
Stock Analysis on Net

Nike Inc. (NYSE:NKE)

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Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

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Short-term Activity Ratios (Summary)

Nike Inc., short-term (operating) activity ratios

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Nike Inc. inventory turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Nike Inc. receivables turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Nike Inc. payables turnover ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Nike Inc. working capital turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Nike Inc. number of days of inventory outstanding improved from 2022 to 2023 and from 2023 to 2024.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Nike Inc. number of days of receivables outstanding improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Nike Inc. operating cycle improved from 2022 to 2023 and from 2023 to 2024.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Nike Inc. number of days of payables outstanding decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Nike Inc. cash conversion cycle improved from 2022 to 2023 and from 2023 to 2024.

Inventory Turnover

Nike Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
lululemon athletica inc.
Inventory Turnover, Sector
Consumer Durables & Apparel
Inventory Turnover, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Nike Inc. inventory turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

Receivables Turnover

Nike Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Revenues
Accounts receivable, net
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
lululemon athletica inc.
Receivables Turnover, Sector
Consumer Durables & Apparel
Receivables Turnover, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Receivables turnover = Revenues ÷ Accounts receivable, net
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Nike Inc. receivables turnover ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Payables Turnover

Nike Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Cost of sales
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
lululemon athletica inc.
Payables Turnover, Sector
Consumer Durables & Apparel
Payables Turnover, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Nike Inc. payables turnover ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Working Capital Turnover

Nike Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Revenues
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
lululemon athletica inc.
Working Capital Turnover, Sector
Consumer Durables & Apparel
Working Capital Turnover, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Working capital turnover = Revenues ÷ Working capital
= ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Nike Inc. working capital turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

Average Inventory Processing Period

Nike Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
lululemon athletica inc.
Average Inventory Processing Period, Sector
Consumer Durables & Apparel
Average Inventory Processing Period, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Nike Inc. number of days of inventory outstanding improved from 2022 to 2023 and from 2023 to 2024.

Average Receivable Collection Period

Nike Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
lululemon athletica inc.
Average Receivable Collection Period, Sector
Consumer Durables & Apparel
Average Receivable Collection Period, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Nike Inc. number of days of receivables outstanding improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

Operating Cycle

Nike Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
lululemon athletica inc.
Operating Cycle, Sector
Consumer Durables & Apparel
Operating Cycle, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Nike Inc. operating cycle improved from 2022 to 2023 and from 2023 to 2024.

Average Payables Payment Period

Nike Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
lululemon athletica inc.
Average Payables Payment Period, Sector
Consumer Durables & Apparel
Average Payables Payment Period, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Nike Inc. number of days of payables outstanding decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Cash Conversion Cycle

Nike Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
May 31, 2024 May 31, 2023 May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
lululemon athletica inc.
Cash Conversion Cycle, Sector
Consumer Durables & Apparel
Cash Conversion Cycle, Industry
Consumer Discretionary

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + – =

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Nike Inc. cash conversion cycle improved from 2022 to 2023 and from 2023 to 2024.