Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Nike Inc., long-term (investment) activity 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Nike Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Nike Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Nike Inc. total asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Nike Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Net Fixed Asset Turnover
Nike Inc., net fixed asset turnover 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) | |||||||
| Revenues | 51,217) | 46,710) | 44,538) | 37,403) | 39,117) | 36,397) | |
| Property, plant and equipment, net | 5,081) | 4,791) | 4,904) | 4,866) | 4,744) | 4,454) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 10.08 | 9.75 | 9.08 | 7.69 | 8.25 | 8.17 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| lululemon athletica inc. | 6.39 | 6.74 | 5.90 | 5.92 | 5.80 | — | |
| Net Fixed Asset Turnover, Sector | |||||||
| Consumer Durables & Apparel | 9.34 | 9.26 | 8.66 | 7.47 | 7.98 | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Consumer Discretionary | 3.24 | 3.18 | 2.98 | 2.99 | 3.28 | — | |
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
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 51,217 ÷ 5,081 = 10.08
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Nike Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Nike Inc., net fixed asset turnover (including operating lease, right-of-use asset) 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) | |||||||
| Revenues | 51,217) | 46,710) | 44,538) | 37,403) | 39,117) | 36,397) | |
| Property, plant and equipment, net | 5,081) | 4,791) | 4,904) | 4,866) | 4,744) | 4,454) | |
| Operating lease right-of-use assets, net | 2,923) | 2,926) | 3,113) | 3,097) | —) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 8,004) | 7,717) | 8,017) | 7,963) | 4,744) | 4,454) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 6.40 | 6.05 | 5.56 | 4.70 | 8.25 | 8.17 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| lululemon athletica inc. | 3.62 | 3.61 | 2.97 | 2.92 | 5.80 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Consumer Durables & Apparel | 5.79 | 5.61 | 5.15 | 4.44 | 7.98 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Consumer Discretionary | 2.53 | 2.48 | 2.32 | 2.34 | 2.83 | — | |
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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 51,217 ÷ 8,004 = 6.40
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Nike Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Nike Inc., total asset turnover 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) | |||||||
| Revenues | 51,217) | 46,710) | 44,538) | 37,403) | 39,117) | 36,397) | |
| Total assets | 37,531) | 40,321) | 37,740) | 31,342) | 23,717) | 22,536) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 1.36 | 1.16 | 1.18 | 1.19 | 1.65 | 1.62 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| lululemon athletica inc. | 1.45 | 1.27 | 1.05 | 1.21 | 1.58 | — | |
| Total Asset Turnover, Sector | |||||||
| Consumer Durables & Apparel | 1.38 | 1.17 | 1.17 | 1.20 | 1.64 | — | |
| Total Asset Turnover, Industry | |||||||
| Consumer Discretionary | 0.95 | 0.93 | 0.84 | 0.81 | 0.92 | — | |
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
Total asset turnover = Revenues ÷ Total assets
= 51,217 ÷ 37,531 = 1.36
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Nike Inc. total asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Equity Turnover
Nike Inc., equity turnover 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) | |||||||
| Revenues | 51,217) | 46,710) | 44,538) | 37,403) | 39,117) | 36,397) | |
| Shareholders’ equity | 14,004) | 15,281) | 12,767) | 8,055) | 9,040) | 9,812) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 3.66 | 3.06 | 3.49 | 4.64 | 4.33 | 3.71 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| lululemon athletica inc. | 2.58 | 2.28 | 1.72 | 2.04 | 2.27 | — | |
| Equity Turnover, Sector | |||||||
| Consumer Durables & Apparel | 3.46 | 2.94 | 3.19 | 4.14 | 4.04 | — | |
| Equity Turnover, Industry | |||||||
| Consumer Discretionary | 3.85 | 4.15 | 3.60 | 4.40 | 5.13 | — | |
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
Equity turnover = Revenues ÷ Shareholders’ equity
= 51,217 ÷ 14,004 = 3.66
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Nike Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |