Analysis of Revenues
Revenues as Reported
Nike Inc., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-05-31), 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).
- Overall Revenue Trend
- The total revenues exhibit a positive growth trend from May 31, 2019, through May 31, 2024, increasing from $39,117 million to $51,362 million. Although there was a slight decline between May 2019 and May 2020, possibly due to external factors, the following years show consistent year-over-year growth, with a plateau occurring between May 2023 and May 2024.
- Footwear Segment
- Footwear revenues experienced fluctuations initially, decreasing from $25,880 million in May 2019 to $24,947 million in May 2020. Subsequently, there was a significant rebound and growth, peaking at $35,290 million in May 2023. However, the segment saw a marginal decrease to $35,227 million in May 2024, indicating a potential stabilization or slight downturn in this category.
- Apparel Segment
- The apparel segment displayed steady growth over the period, except for a minor decline between May 2019 and May 2020. Starting at $11,668 million in May 2019, it rose gradually to $13,933 million by May 2023, followed by a slight decrease to $13,868 million in May 2024. This suggests relative stability with minor fluctuations in consumer demand or market conditions.
- Equipment Segment
- Equipment sales showed consistent growth throughout the timeframe with a small dip early on. Beginning at $1,428 million in May 2019, values dipped slightly in May 2020 but then increased steadily, reaching $2,112 million by May 2024. The growth rate in this segment appears more robust compared to others, indicating expanding interest or successful product development in equipment.
- Other Segment
- The 'Other' category demonstrated more volatile behavior with less consistent growth. Starting at a low base of $141 million in May 2019, it dropped to $109 million in May 2020, then increased irregularly and peaked at $239 million in May 2023 before decreasing to $155 million in May 2024. This inconsistency may reflect a less significant or more niche area of revenue, affected by varying factors.
- Summary Insights
- The overall analysis points to a recovering and growing revenue base post-2020, with the footwear and equipment segments driving the majority of growth. Apparel maintains a stable share, while the other category remains unpredictable. The slight revenue plateau between 2023 and 2024 suggests a need for monitoring market dynamics and possibly adjusting strategies to sustain growth.