Stock Analysis on Net

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

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

Microsoft Excel
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
Turnover Ratios
Inventory turnover 3.34 3.79 3.72 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85
Receivables turnover 10.50 11.60 11.40 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16
Payables turnover 8.22 9.99 12.28 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29
Working capital turnover 3.47 3.47 3.28 3.30 3.26 3.21 3.07 2.85 2.63 2.67 2.58 2.53 2.55 2.68 2.44 2.60 2.80 3.05 5.53 5.03 4.88 4.52
Average No. Days
Average inventory processing period 109 96 98 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95
Add: Average receivable collection period 35 31 32 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40
Operating cycle 144 127 130 135 143 136 147 165 175 158 142 125 131 139 147 137 152 154 133 144 140 135
Less: Average payables payment period 44 37 30 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44
Cash conversion cycle 100 90 100 101 109 100 113 127 127 109 102 84 100 97 109 101 118 115 97 101 95 91

Based on: 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).

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Receivables turnover An activity ratio equal to revenue divided by receivables. Nike Inc. receivables turnover ratio improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Nike Inc. payables turnover ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Nike Inc. working capital turnover ratio improved from Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025.

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Nike Inc. operating cycle improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
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 increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
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.

Inventory Turnover

Nike Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
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)
Cost of sales 6,332 6,972 6,867 7,417 7,219 7,230 7,019 7,604 7,072 6,731 5,804 6,144 6,552 6,689 5,638 6,396 5,853 3,960 5,631 5,782 5,789 5,551 5,272 5,269 5,551
Inventories 8,253 7,519 7,726 7,979 8,698 8,454 8,905 9,326 9,662 8,420 7,700 6,506 6,699 6,854 6,693 6,090 6,705 7,367 5,807 6,199 5,835 5,622 5,415 5,388 5,227
Short-term Activity Ratio
Inventory turnover1 3.34 3.79 3.72 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85
Benchmarks
Inventory Turnover, Competitors2
lululemon athletica inc. 3.04 3.03 2.38 2.30 2.36 2.50 1.88 2.10 2.25 2.74 2.62 2.96 2.93 2.99 2.34 2.57 2.74 3.39 2.66 3.23 3.45 3.64

Based on: 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 Q1 2025 Calculation
Inventory turnover = (Cost of salesQ1 2025 + Cost of salesQ4 2024 + Cost of salesQ3 2024 + Cost of salesQ2 2024) ÷ Inventories
= (6,332 + 6,972 + 6,867 + 7,417) ÷ 8,253 = 3.34

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Receivables Turnover

Nike Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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)
Revenues 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
Accounts receivable, net 4,764 4,427 4,526 4,782 4,749 4,131 4,513 5,437 4,960 4,667 3,827 3,746 4,341 4,463 3,669 3,713 3,813 2,749 4,473 4,792 4,656 4,272 4,549 4,346 4,330
Short-term Activity Ratio
Receivables turnover1 10.50 11.60 11.40 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16
Benchmarks
Receivables Turnover, Competitors2
lululemon athletica inc. 77.78 77.10 85.85 83.21 79.07 61.02 77.64 86.34 84.75 81.25 77.74 98.38 87.37 70.54 68.09 79.08 79.06 98.94 104.89 129.46 170.15 91.89

Based on: 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 Q1 2025 Calculation
Receivables turnover = (RevenuesQ1 2025 + RevenuesQ4 2024 + RevenuesQ3 2024 + RevenuesQ2 2024) ÷ Accounts receivable, net
= (11,589 + 12,606 + 12,429 + 13,388) ÷ 4,764 = 10.50

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Payables Turnover

Nike Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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)
Cost of sales 6,332 6,972 6,867 7,417 7,219 7,230 7,019 7,604 7,072 6,731 5,804 6,144 6,552 6,689 5,638 6,396 5,853 3,960 5,631 5,782 5,789 5,551 5,272 5,269 5,551
Accounts payable 3,357 2,851 2,340 2,709 2,738 2,862 2,675 2,810 3,371 3,358 2,770 2,795 2,135 2,836 2,257 2,154 1,983 2,248 2,221 2,627 2,716 2,612 2,307 2,574 2,333
Short-term Activity Ratio
Payables turnover1 8.22 9.99 12.28 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29
Benchmarks
Payables Turnover, Competitors2
lululemon athletica inc. 15.65 11.51 12.78 12.79 12.96 20.95 10.86 11.81 9.30 9.14 10.89 11.50 10.90 11.25 11.24 14.08 21.70 21.95 14.35 14.46 17.31 15.41

Based on: 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 Q1 2025 Calculation
Payables turnover = (Cost of salesQ1 2025 + Cost of salesQ4 2024 + Cost of salesQ3 2024 + Cost of salesQ2 2024) ÷ Accounts payable
= (6,332 + 6,972 + 6,867 + 7,417) ÷ 3,357 = 8.22

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 decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Working Capital Turnover

Nike Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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)
Current assets 25,040 25,382 24,753 24,631 24,250 25,202 26,035 27,447 28,877 28,213 26,962 27,177 26,390 26,291 24,700 23,607 21,937 20,556 15,744 16,369 16,228 16,525 15,796 15,566 15,501
Less: Current liabilities 10,628 10,593 9,029 8,999 8,461 9,256 9,548 10,199 10,919 10,730 8,818 8,857 8,269 9,674 8,894 8,871 8,619 8,284 8,280 8,264 8,070 7,866 7,281 7,278 6,708
Working capital 14,412 14,789 15,724 15,632 15,789 15,946 16,487 17,248 17,958 17,483 18,144 18,320 18,121 16,617 15,806 14,736 13,318 12,272 7,464 8,105 8,158 8,659 8,515 8,288 8,793
 
Revenues 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
Short-term Activity Ratio
Working capital turnover1 3.47 3.47 3.28 3.30 3.26 3.21 3.07 2.85 2.63 2.67 2.58 2.53 2.55 2.68 2.44 2.60 2.80 3.05 5.53 5.03 4.88 4.52
Benchmarks
Working Capital Turnover, Competitors2
lululemon athletica inc. 4.12 3.96 4.79 4.56 4.73 4.86 5.69 5.98 6.06 5.17 4.91 4.27 3.86 3.55 4.68 5.33 3.62 3.35 4.28 4.59 5.12 3.54

Based on: 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 Q1 2025 Calculation
Working capital turnover = (RevenuesQ1 2025 + RevenuesQ4 2024 + RevenuesQ3 2024 + RevenuesQ2 2024) ÷ Working capital
= (11,589 + 12,606 + 12,429 + 13,388) ÷ 14,412 = 3.47

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 Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025.

Average Inventory Processing Period

Nike Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
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
Inventory turnover 3.34 3.79 3.72 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85
Short-term Activity Ratio (no. days)
Average inventory processing period1 109 96 98 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
lululemon athletica inc. 120 120 154 159 155 146 195 174 162 133 139 123 125 122 156 142 133 108 137 113 106 100

Based on: 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 Q1 2025 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.34 = 109

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Average Receivable Collection Period

Nike Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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
Receivables turnover 10.50 11.60 11.40 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16
Short-term Activity Ratio (no. days)
Average receivable collection period1 35 31 32 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
lululemon athletica inc. 5 5 4 4 5 6 5 4 4 4 5 4 4 5 5 5 5 4 3 3 2 4

Based on: 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 Q1 2025 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.50 = 35

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Operating Cycle

Nike Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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
Average inventory processing period 109 96 98 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95
Average receivable collection period 35 31 32 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40
Short-term Activity Ratio
Operating cycle1 144 127 130 135 143 136 147 165 175 158 142 125 131 139 147 137 152 154 133 144 140 135
Benchmarks
Operating Cycle, Competitors2
lululemon athletica inc. 125 125 158 163 160 152 200 178 166 137 144 127 129 127 161 147 138 112 140 116 108 104

Based on: 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 Q1 2025 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 109 + 35 = 144

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 Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Average Payables Payment Period

Nike Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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
Payables turnover 8.22 9.99 12.28 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29
Short-term Activity Ratio (no. days)
Average payables payment period1 44 37 30 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
lululemon athletica inc. 23 32 29 29 28 17 34 31 39 40 34 32 33 32 32 26 17 17 25 25 21 24

Based on: 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 Q1 2025 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.22 = 44

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 increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Cash Conversion Cycle

Nike Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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
Average inventory processing period 109 96 98 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95
Average receivable collection period 35 31 32 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40
Average payables payment period 44 37 30 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44
Short-term Activity Ratio
Cash conversion cycle1 100 90 100 101 109 100 113 127 127 109 102 84 100 97 109 101 118 115 97 101 95 91
Benchmarks
Cash Conversion Cycle, Competitors2
lululemon athletica inc. 102 93 129 134 132 135 166 147 127 97 110 95 96 95 129 121 121 95 115 91 87 80

Based on: 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 Q1 2025 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 109 + 3544 = 100

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.