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Nike (NKE) financial statements: income, balance sheet and cash flow

NYSE: NKE · Consumer discretionary · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Nike (NYSE: NKE) held cash and short-term investments of USD 8.37 billion at 31 Aug 2026, against total debt of USD 7.89 billion: net cash of USD 475 million by our calculation. Its Form 10-Q for Q1 FY2027 shows revenue of USD 11.2 billion and income before income taxes of USD 921 million for the quarter.

Data as of Source: Form 10-Q for Q1 FY2027, filed

Key facts

Data as of

Nike (NYSE: NKE) · USD · fiscal year ends 31 May · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
45.9
TTM to · derived
Revenue by quarter, from USD 12.4 bn in Q2 FY2025 to USD 11.2 bn in Q1 FY2027
Operating income, TTM (USD)
Not presented
no such subtotal in the company's statements; we do not build one
Net income, TTM (USD bn)
3.09
TTM to · derived
Free cash flow, TTM (USD bn)
2.11
TTM to · derived
Total assets (USD bn)
37.8
at · Form 10-Q
Net cash (USD m)
475
at · derived: cash and short-term investments minus total debt

What the numbers show

Nike's income statement for Q1 FY2027, the quarter ended 31 Aug 2026, shows revenue of USD 11.2 billion, 4.3% lower than a year earlier. Net income was USD 712 million, a net margin of 6.3%, our calculation. With no operating income line, the first profit figure Nike presents after gross profit is income before income taxes: USD 921 million, against USD 922 million in Q1 FY2026.

Over the five fiscal years to FY2026, revenue peaked at USD 51.4 billion in FY2024; from FY2022 it fell 0.2% a year, our calculation. Selling and administrative expense grew 2.1% a year over the same span, while net income fell 15.3% a year. Gross margin, also ours, went from 46.0% in FY2022 to 42.9% in FY2026.

On Nike's balance sheet, total assets were USD 37.8 billion at 31 Aug 2026, against USD 38.4 billion at 31 May 2026. Receivables fell from USD 5.93 billion to USD 5.24 billion over the quarter. The Form 10-Q attributes the decrease primarily to receipt of the receivable for tariffs paid under the International Emergency Economic Powers Act (IEEPA), recorded in FY2026. Total equity rose to USD 15.2 billion, and goodwill and intangibles were USD 499 million.

Total debt was USD 7.89 billion at 31 Aug 2026, against cash and short-term investments of USD 8.37 billion, so Nike held net cash of USD 475 million, our calculation. Net cash had narrowed to USD 28 million at 28 Feb 2026, the end of Q3 FY2026. Current assets were USD 23.7 billion and current liabilities USD 11.4 billion at 31 Aug 2026.

In Nike's cash flow statement, cash from operations was USD 2.87 billion in FY2026, down from USD 7.43 billion in FY2024. The FY2026 Form 10-K says working-capital changes reduced it, mainly higher receivables, including the IEEPA tariff receivable, and lower income taxes payable. Free cash flow, our calculation, came to USD 2.18 billion in FY2026, while dividends paid were USD 2.41 billion. In Q1 FY2027, the Form 10-Q says lower accrued liabilities and income taxes payable and higher inventories reduced cash from operations, partly offset by receipt of the IEEPA tariff receivable.

Diluted EPS was USD 0.48 per share in Q1 FY2027 and USD 2.10 per share in FY2026. Dividends declared rose each year from USD 1.19 per share in FY2022 to USD 1.63 per share in FY2026, while the diluted share count fell each year. FCF cover, our calculation, was 0.9× in FY2026, against 1.4× in FY2025. Nike stock fundamentals covers the pause in share repurchases and the EBIT measure Nike reports.

Income statement

Chart 1

Nike quarterly revenue, Q2 FY2025 to Q1 FY2027

USD bn · quarters ended to

Revenue by quarter, from USD 12.4 bn in Q2 FY2025 to USD 11.2 bn in Q1 FY2027.05101511.2Q2FY25Q3Q4Q1FY26Q2Q3Q4Q1FY27stockfactsheet.com
Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 Nike income statement, annual, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 May
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended CAGRFY22–FY26
Revenue46,39846,30951,36251,21746,710decreased 0.2%
Revenue YoY %increased 0.2%decreased 9.8%increased 0.3%increased 9.6%increased 4.9%not available
Cost of revenue26,48726,51928,47528,92525,231increased 1.2%
Gross profit19,91119,79022,88722,29221,479decreased 1.9%
Gross margin %42.9%42.7%44.6%43.5%46.0%not available
SG&A16,11416,08816,57616,37714,804increased 2.1%
Net interest501071616−205n/m
Pre-tax income3,9003,8856,7006,2016,651decreased 12.5%
Income tax7926661,0001,131605increased 7.0%
Net income3,1083,2195,7005,0706,046decreased 15.3%
Net margin %6.7%7.0%11.1%9.9%12.9%not available
Per share
Diluted EPS (USD)2.102.163.733.233.75decreased 13.5%
Diluted shares (m)1,4811,4881,5301,5701,611not available
(opens in new tab)

Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • Not available
  • Not meaningful

CAGR: compound annual growth rate from FY2022 to FY2026, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

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Table 2 Nike income statement, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends 31 May
USD mQ1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended
Revenue11,21310,972 D11,27912,42711,72011,097 D11,26912,354
Revenue YoY %decreased 4.3%decreased 1.1%increased 0.1%increased 0.6%increased 1.1%decreased 12.0%decreased 9.3%decreased 7.7%
Cost of revenue6,4155,579 D6,7497,3826,7776,628 D6,5946,965
Gross profit4,7985,393 D4,5305,0454,9434,469 D4,6755,389
Gross margin %42.8%49.2%40.2%40.6%42.2%40.3%41.5%43.6%
SG&A3,9104,082 D3,9774,0394,0164,148 D3,8874,005
Net interest148 D1591822 D1824
Pre-tax income9211,329 D650999922318 D8441,416
Income tax209260 D130207195107 D50253
Net income7121,069 D520792727211 D7941,163
Net margin %6.3%9.7%4.6%6.4%6.2%1.9%7.0%9.4%
Per share
Diluted EPS (USD)0.48not available0.350.530.49not available0.540.78
Diluted shares (m)1,484not available1,4821,4811,479not available1,4811,490
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Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • Not available

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

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Table 3 Nike assets, annual, FY2022–FY2026 (USD millions) USD millions
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Cash and short-term investments9,027 D9,151 D11,582 D10,675 D12,997 D
Receivables5,9314,7174,4274,1314,667
Total current assets24,60323,36225,38225,20228,213
PP&E (net)4,7964,8285,0005,0814,791
Goodwill and intangibles499 D499 D499 D555 D570 D
Total assets38,41036,57938,11037,53140,321
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Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 4 Nike liabilities and shareholders' equity, annual, FY2022–FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Current liabilities12,54710,56610,5939,25610,730
Total debt7,942 D7,966 D8,909 D8,933 D9,430 D
Total liabilities23,545 D23,366 D23,680 D23,527 D25,040 D
Shareholders' equity14,86513,21314,43014,00415,281
Net debt / (net cash)−1,085 D−1,185 D−2,673 D−1,742 D−3,567 D
(opens in new tab)

Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Total liabilities = total liabilities and equity − total equity, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

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Table 5 Nike assets, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions
USD mQ1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at
Cash and short-term investments8,368 D9,027 D8,057 D8,345 D8,575 D9,151 D10,393 D9,761 D
Receivables5,2425,9315,3695,7384,9624,7174,4915,302
Total current assets23,67324,60323,18424,01523,89823,36224,60924,980
PP&E (net)4,8874,7964,7664,8434,8614,8284,7174,857
Goodwill and intangibles499 D499 D499 D499 D499 D499 D498 D499 D
Total assets37,79438,41037,06437,78737,33436,57937,79337,959
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Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 6 Nike liabilities and shareholders' equity, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at
Current liabilities11,40912,54710,83811,64010,91110,56611,22311,246
Total debt7,893 D7,942 D8,029 D8,015 D8,000 D7,966 D8,960 D9,022 D
Total liabilities22,574 D23,545 D22,974 D23,702 D23,866 D23,366 D23,786 D23,922 D
Shareholders' equity15,22014,86514,09014,08513,46813,21314,00714,037
Net debt / (net cash)−475 D−1,085 D−28 D−330 D−575 D−1,185 D−1,433 D−739 D
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Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Total liabilities = total liabilities and equity − total equity, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

Nike quarterly free cash flow, Q2 FY2025 to Q1 FY2027

USD bn · quarters ended to

Free cash flow by quarter, from USD 920 m in Q2 FY2025 to USD −64 m in Q1 FY2027.−0.50.00.51.01.52.0−0.1Q2FY25Q3Q4Q1FY26Q2Q3Q4Q1FY27stockfactsheet.com
Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 Nike cash flow, annual, FY2022–FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Cash from operations2,8683,6987,4295,8415,188
Capital expenditure−684−430−812−969−758
Free cash flow2,184 D3,268 D6,617 D4,872 D4,430 D
Dividends paid−2,407−2,300−2,169−2,012−1,837
Share buybacks−146−2,985−4,250−5,480−4,014
Cash from investing−488−275894564−1,524
Cash from financing−2,292−5,820−5,888−7,447−4,836
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Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Quarterly

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Table 8 Nike cash flow, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions · outflows shown with a minus sign
USD mQ1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended
Cash from operations1351,637 D430 D579 D222463 D1,792 D1,049 D
Capital expenditure−199−138 D−146 D−193 D−207−100 D−81 D−129 D
Free cash flow−64 D1,499 D284 D386 D15 D363 D1,711 D920 D
Dividends paid−610−609 D−609 D−598 D−591−591 D−594 D−557 D
Share buybacks00 D0 D−20 D−126−199 D−506 D−1,096 D
Cash from investing−192−212 D−168 D−49 D−5914 D−49 D−74 D
Cash from financing−618−514 D−601 D−579 D−598−1,644 D−1,106 D−1,448 D
(opens in new tab)

Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 Nike per-share data and dividends, annual, FY2022–FY2026 USD per share, split-adjusted · shares in millions
USDFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Basic EPS (USD)2.102.173.763.273.83
Diluted EPS (USD)2.102.163.733.233.75
Dividends declared per share (USD)1.631.571.451.3251.19
Diluted shares (m)1,4811,4881,5301,5701,611
FCF cover (×)0.9×1.4×3.1×2.4×2.4×
(opens in new tab)

Source: Nike Forms 10-Q and 10-K, SEC EDGAR Data as of

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Cash and cash equivalents plus the short-term investments, current marketable securities or current debt securities the filing tags, from the same filing.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Total liabilities = total liabilities and equity − total equity, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Nike's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q2 FY2025 to Q1 FY2027) and 10-K (FY2022 to FY2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Filing Form 10-Q, quarter ended 31 Aug 2026 NIKE, Inc. · · sec.gov
  2. [2] Filing Form 10-K, fiscal year ended 31 May 2026 NIKE, Inc. · · sec.gov
  3. [3] Filing Form 10-Q, quarter ended 28 Feb 2026 NIKE, Inc. · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 30 Nov 2025 NIKE, Inc. · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 31 Aug 2025 NIKE, Inc. · · sec.gov
  6. [6] Filing Form 10-K, fiscal year ended 31 May 2025 NIKE, Inc. · · sec.gov
  7. [7] Filing Form 10-Q, quarter ended 28 Feb 2025 NIKE, Inc. · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 30 Nov 2024 NIKE, Inc. · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 31 May 2024 NIKE, Inc. · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 31 May 2023 NIKE, Inc. · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 31 May 2022 NIKE, Inc. · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 31 Aug 2024 NIKE, Inc. · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 29 Feb 2024 NIKE, Inc. · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 30 Nov 2023 NIKE, Inc. · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 31 May 2021 NIKE, Inc. · · sec.gov
  16. [16] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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StockFactsheet (2026). "Nike (NKE) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/nke/financials/

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For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

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  1. Published First published version.