NIKE, Inc.

NKE 10-K · FY 2025

NKE FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 46,309 51,362 -9.8%
Show Product Lines breakouts
Apparel 13,045 13,868 -5.9%
Apparel · CONVERSE 80 93 -14.0%
Apparel · NIKE Brand 12,965 13,775 -5.9%
Apparel · NIKE Brand 1,541 1,614 -4.5%
Apparel · NIKE Brand 3,971 4,380 -9.3%
Apparel · NIKE Brand 1,616 1,828 -11.6%
Apparel · NIKE Brand 5,837 5,953 -1.9%
Equipment 2,223 2,112 +5.3%
Equipment · CONVERSE 32 37 -13.5%
Equipment · NIKE Brand 2,191 2,075 +5.6%
Equipment · NIKE Brand 258 250 +3.2%
Equipment · NIKE Brand 717 754 -4.9%
Equipment · NIKE Brand 165 165 0.0%
Equipment · NIKE Brand 1,051 906 +16.0%
Footwear 30,967 35,227 -12.1%
Footwear · CONVERSE 1,457 1,800 -19.1%
Footwear · NIKE Brand 29,510 33,427 -11.7%
Footwear · NIKE Brand 4,452 4,865 -8.5%
Footwear · NIKE Brand 7,569 8,473 -10.7%
Footwear · NIKE Brand 4,805 5,552 -13.5%
Footwear · NIKE Brand 12,684 14,537 -12.7%
Product And Service Other 74 155 -52.3%
Product And Service Other · CONVERSE 123 152 -19.1%
Product And Service Other · Corporate Non Segment -97 -42 -131.0%
Product And Service Other · NIKE Brand 48 45 +6.7%
Product And Service Other · NIKE Brand 48 45 +6.7%
Show Business Segments breakouts
CONVERSE · Operating Segments 123 152 -19.1%
CONVERSE · Operating Segments 875 1,098 -20.3%
CONVERSE · Operating Segments 694 832 -16.6%
CONVERSE · Operating Segments 1,692 2,082 -18.7%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 3,678 3,930 -6.4%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 2,573 2,799 -8.1%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 6,251 6,729 -7.1%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 8,022 8,562 -6.3%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 4,235 5,045 -16.1%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 12,257 13,607 -9.9%
NIKE Brand · GREATER CHINA 3,699 4,262 -13.2%
NIKE Brand · GREATER CHINA 2,887 3,283 -12.1%
NIKE Brand · GREATER CHINA 6,586 7,545 -12.7%
NIKE Brand · Material Reconciling Items 48 45 +6.7%
NIKE Brand · Material Reconciling Items 48 45 +6.7%
NIKE Brand · NORTH AMERICA 10,484 11,004 -4.7%
NIKE Brand · NORTH AMERICA 9,088 10,392 -12.5%
NIKE Brand · NORTH AMERICA 19,572 21,396 -8.5%
NIKE Brand · Operating Segments 48 45 +6.7%
NIKE Brand · Operating Segments 25,883 27,758 -6.8%
NIKE Brand · Operating Segments 18,783 21,519 -12.7%
NIKE Brand · Operating Segments 44,714 49,322 -9.3%
Show Geography breakouts
US 19,725 21,551 -8.5%
Show Consolidation Items breakouts
Corporate Non Segment -97 -42 -131.0%
Corporate Non Segment · Other -97 -42 -131.0%
Show Contract With Customer Sales Channel breakouts
Other 74 155 -52.3%
Sales Channel Directly To Consumer 19,477 22,351 -12.9%
Sales to Wholesale Customers 26,758 28,856 -7.3%
Cost of Revenue 26,519 28,475 -6.9%
Show Business Segments breakouts
CONVERSE · Operating Segments 868 989 -12.2%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 3,502 3,639 -3.8%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 6,967 7,589 -8.2%
NIKE Brand · GREATER CHINA 3,558 3,761 -5.4%
NIKE Brand · Material Reconciling Items 634 602 +5.3%
NIKE Brand · NORTH AMERICA 11,056 11,899 -7.1%
NIKE Brand · Operating Segments 25,717 27,490 -6.4%
Show Consolidation Items breakouts
Corporate Non Segment -66 -4 -1550.0%
Gross Profit 19,790 22,887 -13.5%
Show Business Segments breakouts
CONVERSE · Operating Segments 824 1,093 -24.6%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 2,749 3,090 -11.0%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 5,290 6,018 -12.1%
NIKE Brand · GREATER CHINA 3,028 3,784 -20.0%
NIKE Brand · Material Reconciling Items -586 -557 -5.2%
NIKE Brand · NORTH AMERICA 8,516 9,497 -10.3%
NIKE Brand · Operating Segments 18,997 21,832 -13.0%
Show Consolidation Items breakouts
Corporate Non Segment -31 -38 +18.4%
Marketing And Advertising Expense 4,689 4,285 +9.4%
Show Business Segments breakouts
CONVERSE · Operating Segments 156 140 +11.4%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 421 407 +3.4%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 1,222 1,114 +9.7%
NIKE Brand · GREATER CHINA 529 519 +1.9%
NIKE Brand · Material Reconciling Items 716 596 +20.1%
NIKE Brand · NORTH AMERICA 1,633 1,495 +9.2%
NIKE Brand · Operating Segments 4,521 4,131 +9.4%
Show Consolidation Items breakouts
Corporate Non Segment 12 14 -14.3%
General & Administrative 11,399 12,291 -7.3%
Show Business Segments breakouts
CONVERSE · Operating Segments 430 485 -11.3%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 804 801 +0.4%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 1,479 1,517 -2.5%
NIKE Brand · GREATER CHINA 973 1,019 -4.5%
NIKE Brand · Material Reconciling Items 3,401 3,534 -3.8%
NIKE Brand · NORTH AMERICA 2,150 2,189 -1.8%
NIKE Brand · Operating Segments 8,807 9,060 -2.8%
Show Consolidation Items breakouts
Corporate Non Segment 2,162 2,746 -21.3%
Selling, General & Administrative 16,088 16,576 -2.9%
Show Business Segments breakouts
CONVERSE · Operating Segments 586 625 -6.2%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 1,225 1,208 +1.4%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 2,701 2,631 +2.7%
NIKE Brand · GREATER CHINA 1,502 1,538 -2.3%
NIKE Brand · Material Reconciling Items 4,117 4,130 -0.3%
NIKE Brand · NORTH AMERICA 3,783 3,684 +2.7%
NIKE Brand · Operating Segments 13,328 13,191 +1.0%
Show Consolidation Items breakouts
Corporate Non Segment 2,174 2,760 -21.2%
Interest Income Expense Nonoperating Net -107 -161 +33.5%
Other Non-Operating Income (Expense) -76 -228 +66.7%
Income Before Taxes 3,885 6,700 -42.0%
Income Tax Expense (Benefit) 666 1,000 -33.4%
Net Income 3,219 5,700 -43.5%
Show Equity Components breakouts
Retained Earnings 3,219 5,700 -43.5%
EPS (Basic) 2.17 3.76 -42.3%
EPS (Diluted) 2.16 3.73 -42.1%
Wtd Avg Shares (Basic) 1,484.9 1,517.6 -2.2%
Wtd Avg Shares (Diluted) 1,487.6 1,529.7 -2.8%
Interest Income 404 430 -6.0%
Comprehensive Income 2,908 5,522 -47.3%
Other Comprehensive Income -311 -178 -74.7%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent -454 -184 -146.7%
Accumulated Other Comprehensive Income -311 -178 -74.7%
Accumulated Translation Adjustment 142 -3 +4833.3%
OTHER 1 9 -88.9%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 7,464 9,860 -24.3%
Debt Securities Available For Sale Excluding Accrued Interest Current 1,687 1,722 -2.0%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · US Treasury Securities 1,046 1,020 +2.5%
Fair Value Inputs Level2 · Bank Time Deposits 2 93 -97.8%
Fair Value Inputs Level2 · Commercial paper and bonds 630 574 +9.8%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 641 702 -8.7%
Fair Value Inputs Level2 · US Government Agencies Debt Securities 9 35 -74.3%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 1,687 1,722 -2.0%
Accounts Receivable 4,717 4,427 +6.6%
Inventory Finished Goods Net Of Reserves 7,489 7,519 -0.4%
Show Business Segments breakouts
CONVERSE · Operating Segments 272 296 -8.1%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 905 810 +11.7%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 2,042 2,028 +0.7%
NIKE Brand · GREATER CHINA 951 1,070 -11.1%
NIKE Brand · Material Reconciling Items 148 166 -10.8%
NIKE Brand · NORTH AMERICA 3,198 3,134 +2.0%
NIKE Brand · Operating Segments 7,244 7,208 +0.5%
Show Consolidation Items breakouts
Corporate Non Segment -27 15 -280.0%
Prepaid Expenses & Other Current Assets 2,005 1,854 +8.1%
Total Current Assets 23,362 25,382 -8.0%
Non-Current Assets
Property, Plant & Equipment 4,828 5,000 -3.4%
Operating Lease Right-of-Use Assets 2,712 2,718 -0.2%
Goodwill 240 240 0.0%
Deferred Income Taxes And Other Assets Noncurrent 5,178 4,511 +14.8%
Total Assets 36,579 38,110 -4.0%
Other Assets
Intangible Assets Net Excluding Goodwill 259 259 0.0%
Current Liabilities
Short Term Borrowings 5 6 -16.7%
Accounts Payable 3,479 2,851 +22.0%
Operating Lease Liability Current 502 477 +5.2%
Accrued Liabilities 5,911 5,725 +3.2%
Accrued Income Taxes Current 669 534 +25.3%
Total Current Liabilities 10,566 10,593 -0.3%
Non-Current Liabilities
Long-Term Debt 7,961 7,903 +0.7%
Operating Lease Liabilities 2,550 2,566 -0.6%
Deferred Income Taxes And Other Liabilities Noncurrent 2,289 2,618 -12.6%
Long-Term Debt 7,961 8,903 -10.6%
Show Debt Instrument breakouts
2.38% Corporate bond, payable November 1, 2026 · Corporate Debt Securities 999 998 +0.1%
2.75% Corporate bond, payable March 27, 2027 · Corporate Debt Securities 999 998 +0.1%
2.85% Corporate bond, payable March 27, 2030 · Corporate Debt Securities 1,495 1,494 +0.1%
3.25% Corporate bond, payable March 27, 2040 · Corporate Debt Securities 993 966 +2.8%
3.38% Corporate bond, payable March 27, 2050 · Corporate Debt Securities 1,483 1,482 +0.1%
3.38% Corporate bond, payable November 1, 2046 · Corporate Debt Securities 493 492 +0.2%
3.63% Corporate bond, payable May 1, 2043 · Corporate Debt Securities 502 488 +2.9%
3.88% Corporate bond, payable November 1, 2045 · Corporate Debt Securities 997 986 +1.1%
Stockholders' Equity
Common Stock (Q)
Show Statement Class Of Stock breakouts
Common Class B 3 3 0.0%
Additional Paid In Capital Common Stock 14,195 13,409 +5.9%
Accumulated Other Comprehensive Income -258 53 -586.8%
Retained Earnings -727 965 -175.3%
Total Stockholders' Equity 13,213 14,430 -8.4%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent -207 247 -183.8%
Accumulated Other Comprehensive Income -258 53 -586.8%
Accumulated Translation Adjustment -114 -256 +55.5%
Additional Paid In Capital 14,195 13,409 +5.9%
Common Stock · Common Class B 3 3 0.0%
NET INVESTMENT HEDGES 115 115 0.0%
OTHER -52 -53 +1.9%
Retained Earnings -727 965 -175.3%
Total Liabilities & Equity 36,579 38,110 -4.0%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation & Amortization 775 796 -2.6%
Show Business Segments breakouts
CONVERSE · Operating Segments 14 17 -17.6%
NIKE Brand · ASIA PACIFIC & LATIN AMERICA 50 51 -2.0%
NIKE Brand · EUROPE, MIDDLE EAST & AFRICA 143 146 -2.1%
NIKE Brand · GREATER CHINA 49 56 -12.5%
NIKE Brand · NORTH AMERICA 157 152 +3.3%
NIKE Brand · Operating Segments 636 641 -0.8%
Show Consolidation Items breakouts
Corporate Non Segment 125 138 -9.4%
Material Reconciling Items 237
Deferred Income Taxes -288 -497 +42.1%
Stock-Based Compensation 709 804 -11.8%
Asset Impairment Charges 33 48 -31.2%
Foreign Currency Transaction Gain Loss Unrealized 37 -138 +126.8%
Change in Accounts Receivable -257 -329 +21.9%
Change in Inventory 120 908 -86.8%
Change in Prepaid & Other Assets -224 -260 +13.8%
Increase Decrease In Accounts Payable And Other Operating Liabilities -426 397 -207.3%
Net Cash from Operations 3,698 7,429 -50.2%
Investing Activities
Purchases of Investments -3,234 -4,767 +32.2%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 319 2,269 -85.9%
Proceeds From Sale Of Available For Sale Securities Debt 3,062 4,219 -27.4%
Capital Expenditures -430 -812 +47.0%
Other Investing Activities 8 -15 +153.3%
Net Cash from Investing -275 894 -130.8%
Financing Activities
Proceeds From Repayments Of Notes Payable -1
Debt Repayments -1,000
Proceeds From Issuance Or Sale Of Equity 551 667 -17.4%
Share Repurchases -2,985 -4,250 +29.8%
Payments Of Dividends Common Stock -2,300 -2,169 -6.0%
Proceeds From Payments For Other Financing Activities -85 -136 +37.5%
Net Cash from Financing -5,820 -5,888 +1.2%
Supplemental
Interest Paid 389 381 +2.1%
Income Taxes Paid 1,226 1,299 -5.6%
Unpaid Capital Expenditures 184 160 +15.0%
Dividends Payable Current And Noncurrent 593 558 +6.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1 -16 +106.2%
Net Change in Cash -2,396 2,419 -199.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 7,464 9,860 -24.3%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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