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NIKE, Inc.

NKE · CIK 0000320187

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$46.31B9.8%
FY2025
Net income (FY)
$3.22B43.5%
FY2025
Free cash flow (FY)
$3.27B50.6%
FY2025
Diluted EPS (FY)
$2.1642.1%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$20B$40BFY2008 · Revenue $18.63B · Net income $1.88B · 0001193125-10-161874 · filed 2010-07-20FY08Revenue $18.63BNet income $1.88B0001193125-10-161874 · filed 2010-07-20FY2009 · Revenue $19.18B · Net income $1.49B · 0001193125-11-194791 · filed 2011-07-22FY09Revenue $19.18BNet income $1.49B0001193125-11-194791 · filed 2011-07-22FY2010 · Revenue $19.01B · Net income $1.91B · 0001193125-12-312306 · filed 2012-07-24FY10Revenue $19.01BNet income $1.91B0001193125-12-312306 · filed 2012-07-24FY2011 · Revenue $20.12B · Net income $2.13B · 0000320187-13-000092 · filed 2013-07-23FY11Revenue $20.12BNet income $2.13B0000320187-13-000092 · filed 2013-07-23FY2012 · Revenue $23.33B · Net income $2.21B · 0000320187-14-000097 · filed 2014-07-25FY12Revenue $23.33BNet income $2.21B0000320187-14-000097 · filed 2014-07-25FY2013 · Revenue $25.31B · Net income $2.47B · 0000320187-15-000113 · filed 2015-07-23FY13Revenue $25.31BNet income $2.47B0000320187-15-000113 · filed 2015-07-23FY2014 · Revenue $27.80B · Net income $2.69B · 0000320187-16-000336 · filed 2016-07-21FY14Revenue $27.80BNet income $2.69B0000320187-16-000336 · filed 2016-07-21FY2015 · Revenue $30.60B · Net income $3.27B · 0000320187-17-000090 · filed 2017-07-20FY15Revenue $30.60BNet income $3.27B0000320187-17-000090 · filed 2017-07-20FY2016 · Revenue $32.38B · Net income $3.76B · 0000320187-18-000142 · filed 2018-07-25FY16Revenue $32.38BNet income $3.76B0000320187-18-000142 · filed 2018-07-25FY2017 · Revenue $34.35B · Net income $4.24B · 0000320187-19-000051 · filed 2019-07-23FY17Revenue $34.35BNet income $4.24B0000320187-19-000051 · filed 2019-07-23FY2018 · Revenue $36.40B · Net income $1.93B · 0000320187-20-000047 · filed 2020-07-24FY18Revenue $36.40BNet income $1.93B0000320187-20-000047 · filed 2020-07-24FY2019 · Revenue $39.12B · Net income $4.03B · 0000320187-21-000028 · filed 2021-07-20FY19Revenue $39.12BNet income $4.03B0000320187-21-000028 · filed 2021-07-20FY2020 · Revenue $37.40B · Net income $2.54B · 0000320187-22-000038 · filed 2022-07-21FY20Revenue $37.40BNet income $2.54B0000320187-22-000038 · filed 2022-07-21FY2021 · Revenue $44.54B · Net income $5.73B · 0000320187-23-000039 · filed 2023-07-20FY21Revenue $44.54BNet income $5.73B0000320187-23-000039 · filed 2023-07-20FY2022 · Revenue $46.71B · Net income $6.05B · 0000320187-24-000044 · filed 2024-07-25FY22Revenue $46.71BNet income $6.05B0000320187-24-000044 · filed 2024-07-25FY2023 · Revenue $51.22B · Net income $5.07B · 0000320187-25-000047 · filed 2025-07-17FY23Revenue $51.22BNet income $5.07B0000320187-25-000047 · filed 2025-07-17FY2024 · Revenue $51.36B · Net income $5.70B · 0000320187-25-000047 · filed 2025-07-17FY24Revenue $51.36BNet income $5.70B0000320187-25-000047 · filed 2025-07-17FY2025 · Revenue $46.31B · Net income $3.22B · 0000320187-25-000047 · filed 2025-07-17FY25Revenue $46.31BNet income $3.22B0000320187-25-000047 · filed 2025-07-17FY25Revenue $46.31BNet income $3.22B0000320187-25-000047 · filed 2025-07-17FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 2.5× since FY2008 · net margin 10.1% → 7.0%

MarginsNet marginFCF margin
0%5%10%15%FY2008 · Net margin 10.1% · FCF margin 8.0%FY08Net margin 10.1%FCF margin 8.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 7.8% · FCF margin 6.7%FY09Net margin 7.8%FCF margin 6.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 10.0% · FCF margin 14.9%FY10Net margin 10.0%FCF margin 14.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 10.6% · FCF margin 6.9%FY11Net margin 10.6%FCF margin 6.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 9.5% · FCF margin 5.4%FY12Net margin 9.5%FCF margin 5.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 9.8% · FCF margin 9.6%FY13Net margin 9.8%FCF margin 9.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 9.7% · FCF margin 7.7%FY14Net margin 9.7%FCF margin 7.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 10.7% · FCF margin 12.1%FY15Net margin 10.7%FCF margin 12.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 11.6% · FCF margin 7.0%FY16Net margin 11.6%FCF margin 7.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 12.3% · FCF margin 8.0%FY17Net margin 12.3%FCF margin 8.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 5.3% · FCF margin 10.8%FY18Net margin 5.3%FCF margin 10.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 10.3% · FCF margin 12.2%FY19Net margin 10.3%FCF margin 12.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 6.8% · FCF margin 3.7%FY20Net margin 6.8%FCF margin 3.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 12.9% · FCF margin 13.4%FY21Net margin 12.9%FCF margin 13.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 12.9% · FCF margin 9.5%FY22Net margin 12.9%FCF margin 9.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 9.9% · FCF margin 9.5%FY23Net margin 9.9%FCF margin 9.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 11.1% · FCF margin 12.9%FY24Net margin 11.1%FCF margin 12.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 7.0% · FCF margin 7.1%FY25Net margin 7.0%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 7.0%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 7.0% · free cash flow 7.1% of revenue

Cash engineOperating cash flowFree cash flow
$0$5BFY2008 · OCF $1.94B · FCF $1.49B · 0001193125-10-161874 · filed 2010-07-20FY08OCF $1.94BFCF $1.49B0001193125-10-161874 · filed 2010-07-20FY2009 · OCF $1.74B · FCF $1.28B · 0001193125-11-194791 · filed 2011-07-22FY09OCF $1.74BFCF $1.28B0001193125-11-194791 · filed 2011-07-22FY2010 · OCF $3.16B · FCF $2.83B · 0001193125-12-312306 · filed 2012-07-24FY10OCF $3.16BFCF $2.83B0001193125-12-312306 · filed 2012-07-24FY2011 · OCF $1.81B · FCF $1.38B · 0000320187-13-000092 · filed 2013-07-23FY11OCF $1.81BFCF $1.38B0000320187-13-000092 · filed 2013-07-23FY2012 · OCF $1.82B · FCF $1.26B · 0000320187-14-000097 · filed 2014-07-25FY12OCF $1.82BFCF $1.26B0000320187-14-000097 · filed 2014-07-25FY2013 · OCF $3.03B · FCF $2.43B · 0000320187-15-000113 · filed 2015-07-23FY13OCF $3.03BFCF $2.43B0000320187-15-000113 · filed 2015-07-23FY2014 · OCF $3.01B · FCF $2.13B · 0000320187-16-000336 · filed 2016-07-21FY14OCF $3.01BFCF $2.13B0000320187-16-000336 · filed 2016-07-21FY2015 · OCF $4.68B · FCF $3.72B · 0000320187-17-000090 · filed 2017-07-20FY15OCF $4.68BFCF $3.72B0000320187-17-000090 · filed 2017-07-20FY2016 · OCF $3.40B · FCF $2.26B · 0000320187-18-000142 · filed 2018-07-25FY16OCF $3.40BFCF $2.26B0000320187-18-000142 · filed 2018-07-25FY2017 · OCF $3.85B · FCF $2.74B · 0000320187-19-000051 · filed 2019-07-23FY17OCF $3.85BFCF $2.74B0000320187-19-000051 · filed 2019-07-23FY2018 · OCF $4.96B · FCF $3.93B · 0000320187-20-000047 · filed 2020-07-24FY18OCF $4.96BFCF $3.93B0000320187-20-000047 · filed 2020-07-24FY2019 · OCF $5.90B · FCF $4.78B · 0000320187-21-000028 · filed 2021-07-20FY19OCF $5.90BFCF $4.78B0000320187-21-000028 · filed 2021-07-20FY2020 · OCF $2.48B · FCF $1.40B · 0000320187-22-000038 · filed 2022-07-21FY20OCF $2.48BFCF $1.40B0000320187-22-000038 · filed 2022-07-21FY2021 · OCF $6.66B · FCF $5.96B · 0000320187-23-000039 · filed 2023-07-20FY21OCF $6.66BFCF $5.96B0000320187-23-000039 · filed 2023-07-20FY2022 · OCF $5.19B · FCF $4.43B · 0000320187-24-000044 · filed 2024-07-25FY22OCF $5.19BFCF $4.43B0000320187-24-000044 · filed 2024-07-25FY2023 · OCF $5.84B · FCF $4.87B · 0000320187-25-000047 · filed 2025-07-17FY23OCF $5.84BFCF $4.87B0000320187-25-000047 · filed 2025-07-17FY2024 · OCF $7.43B · FCF $6.62B · 0000320187-25-000047 · filed 2025-07-17FY24OCF $7.43BFCF $6.62B0000320187-25-000047 · filed 2025-07-17FY2025 · OCF $3.70B · FCF $3.27B · 0000320187-25-000047 · filed 2025-07-17FY25OCF $3.70BFCF $3.27B0000320187-25-000047 · filed 2025-07-17FY25OCF $3.70BFCF $3.27B0000320187-25-000047 · filed 2025-07-17’09’13’17’21’25

FY2025: $3.70B operating cash − $430.0M capex = $3.27B free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2009 · ROE 17.1% · ROA 11.2%FY09ROE 17.1%ROA 11.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 19.6% · ROA 13.2%FY10ROE 19.6%ROA 13.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 21.7% · ROA 14.2%FY11ROE 21.7%ROA 14.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 21.3% · ROA 14.3%FY12ROE 21.3%ROA 14.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 22.3% · ROA 14.1%FY13ROE 22.3%ROA 14.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 24.9% · ROA 14.5%FY14ROE 24.9%ROA 14.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 25.8% · ROA 15.2%FY15ROE 25.8%ROA 15.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 30.7% · ROA 17.6%FY16ROE 30.7%ROA 17.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 34.2% · ROA 18.2%FY17ROE 34.2%ROA 18.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 19.7% · ROA 8.6%FY18ROE 19.7%ROA 8.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 44.6% · ROA 17.0%FY19ROE 44.6%ROA 17.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 31.5% · ROA 8.1%FY20ROE 31.5%ROA 8.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 44.9% · ROA 15.2%FY21ROE 44.9%ROA 15.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 39.6% · ROA 15.0%FY22ROE 39.6%ROA 15.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 36.2% · ROA 13.5%FY23ROE 36.2%ROA 13.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 39.5% · ROA 15.0%FY24ROE 39.5%ROA 15.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 24.4% · ROA 8.8%FY25ROE 24.4%ROA 8.8%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 24.4%ROA 8.8%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 17% (FY2009) → 24% (FY2025) · on assets 8.8%

The receipts