Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Nike Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31).
The composition of liabilities and shareholders’ equity exhibited notable shifts over the observed period, spanning from August 2019 to November 2025. Current liabilities initially represented a significant portion, fluctuating around 31% of the total, before declining to approximately 28% in late 2023 and early 2024. Long-term liabilities, excluding current portions, consistently accounted for a substantial share, generally between 21% and 26%, with a peak around 30% in 2020. Shareholders’ equity demonstrated a general upward trend in relative terms, increasing from approximately 35% in 2019 to nearly 38% in late 2021, before stabilizing and experiencing a slight decline towards the end of the period.
- Current Liabilities
- Current liabilities, comprising items such as accounts payable, accrued liabilities, and the current portion of debt, initially remained relatively stable between 30.74% and 31.58% from August 2019 to February 2020. A significant decrease was observed in May 2020, falling to 26.43%, and this lower level persisted through August 2021. A subsequent increase occurred in early 2024, peaking at 29.63% in February, before moderating slightly. Accounts payable consistently represented the largest component of current liabilities, fluctuating between approximately 7% and 10.5% of the total, while accrued liabilities remained consistently high, generally between 13% and 17.5%.
- Long-Term Liabilities
- Long-term debt, excluding current portions, and operating lease liabilities, excluding current portions, together constituted the majority of non-current liabilities. Long-term debt experienced a substantial increase in May 2020, rising to 30.01%, likely reflecting financing activities. This proportion decreased gradually over the subsequent periods, settling around 21-24% by late 2023. Operating lease liabilities demonstrated a more gradual decline, decreasing from over 10% in 2019 to approximately 6.5% - 7.5% in late 2024 and early 2025. Deferred income taxes and other liabilities remained relatively stable, fluctuating between 5.6% and 10.8%.
- Shareholders’ Equity
- Shareholders’ equity showed a general increasing trend in its proportional representation, particularly between 2019 and late 2021. Capital in excess of stated value was the largest component of shareholders’ equity, consistently exceeding 27% and rising to over 40% by the end of the period. Retained earnings experienced considerable volatility, declining significantly in the first half of 2020 before recovering and peaking in late 2021. Accumulated other comprehensive income (loss) fluctuated, moving from positive values to negative values during the period, and remained relatively small in comparison to other equity components.
Overall, the liability structure shifted from a greater reliance on current liabilities to a more balanced mix with long-term obligations. The increasing proportion of shareholders’ equity suggests strengthening financial health and potentially increased reinvestment of earnings. The fluctuations in specific liability accounts warrant further investigation to understand the underlying business activities and financing strategies driving these changes.