Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Nike Inc., solvency ratios
Based on: 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), 10-K (reporting date: 2018-05-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Nike Inc. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Nike Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Nike Inc. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Nike Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Nike Inc. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Nike Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Nike Inc. financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Nike Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Nike Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity
Nike Inc., debt to equity calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Solvency Ratio | |||||||
| Debt to equity1 | 0.64 | 0.62 | 0.74 | 1.20 | 0.38 | 0.39 | |
| Benchmarks | |||||||
| Debt to Equity, Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.00 | 0.00 | 0.00 | 0.03 | 0.03 | 0.03 | |
| lululemon athletica inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Debt to Equity, Sector | |||||||
| Consumer Durables & Apparel | 0.47 | 0.48 | 0.56 | 0.87 | 0.30 | — | |
| Debt to Equity, Industry | |||||||
| Consumer Discretionary | 1.42 | 1.61 | 1.56 | 2.26 | 2.44 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 8,933 ÷ 14,004 = 0.64
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Nike Inc. debt to equity ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
Nike Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Current portion of operating lease liabilities | 425) | 420) | 467) | 445) | —) | —) | |
| Operating lease liabilities, excluding current portion | 2,786) | 2,777) | 2,931) | 2,913) | —) | —) | |
| Total debt (including operating lease liability) | 12,144) | 12,627) | 12,813) | 13,015) | 3,479) | 3,810) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Solvency Ratio | |||||||
| Debt to equity (including operating lease liability)1 | 0.87 | 0.83 | 1.00 | 1.62 | 0.38 | 0.39 | |
| Benchmarks | |||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.14 | 0.14 | 0.15 | 0.26 | 0.03 | 0.03 | |
| lululemon athletica inc. | 0.34 | 0.32 | 0.31 | 0.38 | 0.00 | — | |
| Debt to Equity (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | 0.71 | 0.70 | 0.82 | 1.26 | 0.30 | — | |
| Debt to Equity (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | 1.77 | 2.00 | 1.93 | 2.69 | 2.70 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 12,144 ÷ 14,004 = 0.87
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Nike Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Capital
Nike Inc., debt to capital calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Total capital | 22,937) | 24,711) | 22,182) | 17,712) | 12,519) | 13,622) | |
| Solvency Ratio | |||||||
| Debt to capital1 | 0.39 | 0.38 | 0.42 | 0.55 | 0.28 | 0.28 | |
| Benchmarks | |||||||
| Debt to Capital, Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.00 | 0.00 | 0.00 | 0.03 | 0.03 | 0.03 | |
| lululemon athletica inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Debt to Capital, Sector | |||||||
| Consumer Durables & Apparel | 0.32 | 0.33 | 0.36 | 0.46 | 0.23 | — | |
| Debt to Capital, Industry | |||||||
| Consumer Discretionary | 0.59 | 0.62 | 0.61 | 0.69 | 0.71 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,933 ÷ 22,937 = 0.39
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Nike Inc. debt to capital ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
Nike Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Current portion of operating lease liabilities | 425) | 420) | 467) | 445) | —) | —) | |
| Operating lease liabilities, excluding current portion | 2,786) | 2,777) | 2,931) | 2,913) | —) | —) | |
| Total debt (including operating lease liability) | 12,144) | 12,627) | 12,813) | 13,015) | 3,479) | 3,810) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Total capital (including operating lease liability) | 26,148) | 27,908) | 25,580) | 21,070) | 12,519) | 13,622) | |
| Solvency Ratio | |||||||
| Debt to capital (including operating lease liability)1 | 0.46 | 0.45 | 0.50 | 0.62 | 0.28 | 0.28 | |
| Benchmarks | |||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.12 | 0.13 | 0.13 | 0.21 | 0.03 | 0.03 | |
| lululemon athletica inc. | 0.25 | 0.24 | 0.24 | 0.27 | 0.00 | — | |
| Debt to Capital (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | 0.42 | 0.41 | 0.45 | 0.56 | 0.23 | — | |
| Debt to Capital (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | 0.64 | 0.67 | 0.66 | 0.73 | 0.73 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 12,144 ÷ 26,148 = 0.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Nike Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Assets
Nike Inc., debt to assets calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Total assets | 37,531) | 40,321) | 37,740) | 31,342) | 23,717) | 22,536) | |
| Solvency Ratio | |||||||
| Debt to assets1 | 0.24 | 0.23 | 0.25 | 0.31 | 0.15 | 0.17 | |
| Benchmarks | |||||||
| Debt to Assets, Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.03 | |
| lululemon athletica inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Debt to Assets, Sector | |||||||
| Consumer Durables & Apparel | 0.20 | 0.20 | 0.21 | 0.27 | 0.13 | — | |
| Debt to Assets, Industry | |||||||
| Consumer Discretionary | 0.35 | 0.36 | 0.37 | 0.42 | 0.44 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 8,933 ÷ 37,531 = 0.24
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Nike Inc. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
Nike Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current portion of long-term debt | —) | 500) | —) | 3) | 6) | 6) | |
| Notes payable | 6) | 10) | 2) | 248) | 9) | 336) | |
| Long-term debt, excluding current portion | 8,927) | 8,920) | 9,413) | 9,406) | 3,464) | 3,468) | |
| Total debt | 8,933) | 9,430) | 9,415) | 9,657) | 3,479) | 3,810) | |
| Current portion of operating lease liabilities | 425) | 420) | 467) | 445) | —) | —) | |
| Operating lease liabilities, excluding current portion | 2,786) | 2,777) | 2,931) | 2,913) | —) | —) | |
| Total debt (including operating lease liability) | 12,144) | 12,627) | 12,813) | 13,015) | 3,479) | 3,810) | |
| Total assets | 37,531) | 40,321) | 37,740) | 31,342) | 23,717) | 22,536) | |
| Solvency Ratio | |||||||
| Debt to assets (including operating lease liability)1 | 0.32 | 0.31 | 0.34 | 0.42 | 0.15 | 0.17 | |
| Benchmarks | |||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||
| Deckers Outdoor Corp. | 0.10 | 0.10 | 0.10 | 0.17 | 0.02 | 0.03 | |
| lululemon athletica inc. | 0.19 | 0.18 | 0.19 | 0.23 | 0.00 | — | |
| Debt to Assets (including Operating Lease Liability), Sector | |||||||
| Consumer Durables & Apparel | 0.29 | 0.29 | 0.31 | 0.39 | 0.13 | — | |
| Debt to Assets (including Operating Lease Liability), Industry | |||||||
| Consumer Discretionary | 0.44 | 0.45 | 0.45 | 0.50 | 0.48 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 12,144 ÷ 37,531 = 0.32
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Nike Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Financial Leverage
Nike Inc., financial leverage calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Total assets | 37,531) | 40,321) | 37,740) | 31,342) | 23,717) | 22,536) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Solvency Ratio | |||||||
| Financial leverage1 | 2.68 | 2.64 | 2.96 | 3.89 | 2.62 | 2.30 | |
| Benchmarks | |||||||
| Financial Leverage, Competitors2 | |||||||
| Deckers Outdoor Corp. | 1.45 | 1.52 | 1.50 | 1.55 | 1.37 | 1.34 | |
| lululemon athletica inc. | 1.78 | 1.80 | 1.64 | 1.68 | 1.44 | — | |
| Financial Leverage, Sector | |||||||
| Consumer Durables & Apparel | 2.42 | 2.43 | 2.63 | 3.26 | 2.36 | — | |
| Financial Leverage, Industry | |||||||
| Consumer Discretionary | 4.04 | 4.43 | 4.25 | 5.41 | 5.56 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 37,531 ÷ 14,004 = 2.68
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Nike Inc. financial leverage ratio decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
Interest Coverage
Nike Inc., interest coverage calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 5,070) | 6,046) | 5,727) | 2,539) | 4,029) | 1,933) | |
| Add: Income tax expense | 1,131) | 605) | 934) | 348) | 772) | 2,392) | |
| Add: Interest expense | 291) | 299) | 296) | 151) | 131) | 124) | |
| Earnings before interest and tax (EBIT) | 6,492) | 6,950) | 6,957) | 3,038) | 4,932) | 4,449) | |
| Solvency Ratio | |||||||
| Interest coverage1 | 22.31 | 23.24 | 23.50 | 20.12 | 37.65 | 35.88 | |
| Benchmarks | |||||||
| Interest Coverage, Competitors2 | |||||||
| Deckers Outdoor Corp. | 194.52 | 272.07 | 84.20 | 68.55 | 71.57 | 49.13 | |
| lululemon athletica inc. | — | — | — | — | — | — | |
| Interest Coverage, Sector | |||||||
| Consumer Durables & Apparel | 28.85 | 29.40 | 27.43 | 27.44 | 44.09 | — | |
| Interest Coverage, Industry | |||||||
| Consumer Discretionary | 10.61 | 7.74 | 10.83 | 6.26 | 9.85 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 6,492 ÷ 291 = 22.31
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Nike Inc. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Fixed Charge Coverage
Nike Inc., fixed charge coverage calculation, comparison to benchmarks
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Net income | 5,070) | 6,046) | 5,727) | 2,539) | 4,029) | 1,933) | |
| Add: Income tax expense | 1,131) | 605) | 934) | 348) | 772) | 2,392) | |
| Add: Interest expense | 291) | 299) | 296) | 151) | 131) | 124) | |
| Earnings before interest and tax (EBIT) | 6,492) | 6,950) | 6,957) | 3,038) | 4,932) | 4,449) | |
| Add: Operating lease costs | 585) | 593) | 589) | 569) | 829) | 820) | |
| Earnings before fixed charges and tax | 7,077) | 7,543) | 7,546) | 3,607) | 5,761) | 5,269) | |
| Interest expense | 291) | 299) | 296) | 151) | 131) | 124) | |
| Operating lease costs | 585) | 593) | 589) | 569) | 829) | 820) | |
| Fixed charges | 876) | 892) | 885) | 720) | 960) | 944) | |
| Solvency Ratio | |||||||
| Fixed charge coverage1 | 8.08 | 8.46 | 8.53 | 5.01 | 6.00 | 5.58 | |
| Benchmarks | |||||||
| Fixed Charge Coverage, Competitors2 | |||||||
| Deckers Outdoor Corp. | 12.81 | 11.61 | 9.52 | 6.41 | 5.18 | 3.76 | |
| lululemon athletica inc. | 6.42 | 7.19 | 5.23 | 6.09 | 4.61 | — | |
| Fixed Charge Coverage, Sector | |||||||
| Consumer Durables & Apparel | 7.96 | 8.37 | 8.02 | 5.30 | 5.73 | — | |
| Fixed Charge Coverage, Industry | |||||||
| Consumer Discretionary | 4.73 | 3.37 | 5.01 | 3.19 | 4.32 | — | |
Based on: 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), 10-K (reporting date: 2018-05-31).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 7,077 ÷ 876 = 8.08
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Nike Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |