Common-Size Balance Sheet: Assets
Quarterly Data
Nike Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-08-31), 10-K (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-Q (reporting date: 2025-08-31), 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31).
The asset composition demonstrates a gradual shift from a highly liquid posture toward a higher concentration of non-current assets over the analyzed period. Current assets, which peaked at approximately 70% of total assets between 2021 and 2022, have contracted to 62.64% by August 2026. Conversely, non-current assets have trended upward from a low of 29.72% in August 2022 to 37.36% by the end of the period.
- Liquidity and Cash Management
- Cash and equivalents exhibited significant volatility, reaching a peak of 28.27% in August 2021 before retreating to a more stabilized range between 18% and 23% in later years. Short-term investments showed a more pronounced long-term decline; after peaking at 12.03% in February 2022, this component steadily decreased to 3.88% by August 2026, suggesting a reduction in the allocation of assets toward highly liquid, interest-bearing securities.
- Working Capital Trends
- Inventories underwent a period of expansion, rising from 20.16% in August 2020 to a peak of 23.64% in May 2023, before moderating to 20.76% by August 2026. This indicates a phase of inventory accumulation followed by a return to historical norms. Accounts receivable, net, followed a general upward trajectory, increasing from 11.46% in August 2020 to 15.44% in May 2026, which may point to an expansion in credit sales or a slower collection cycle relative to the growth of the total asset base.
- Non-Current Asset Evolution
- The most significant growth within the non-current asset category occurred in deferred income taxes and other assets, which increased from 8.12% in August 2020 to 15.31% by August 2026. In contrast, property, plant, and equipment (net) saw a slight overall compression, moving from 14.94% to 12.93%. Operating lease right-of-use assets also declined from 9.50% to 7.80%, indicating that these fixed components are occupying a smaller relative proportion of the balance sheet over time.
- Intangibles and Goodwill
- Identifiable intangible assets and goodwill remained marginally stable and represented a minimal fraction of total assets throughout the entire period, with both items consistently staying below 1% of total assets.
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