Stock Analysis on Net

Nike Inc. (NYSE:NKE)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Nike Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Nov 30, 2025 Aug 31, 2025 May 31, 2025 Feb 28, 2025 Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019
Current portion of long-term debt
Notes payable
Accounts payable
Current portion of operating lease liabilities
Accrued liabilities
Income taxes payable
Current liabilities
Long-term debt, excluding current portion
Operating lease liabilities, excluding current portion
Deferred income taxes and other liabilities
Non-current liabilities
Total liabilities
Redeemable preferred stock
Common stock at stated value
Capital in excess of stated value
Accumulated other comprehensive income (loss)
Retained earnings (deficit)
Shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 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 generally represented a significant portion of the total, fluctuating between approximately 22% and 31%. Long-term liabilities, excluding current portions, consistently accounted for a substantial share, typically ranging from 18% to 39%. Shareholders’ equity demonstrated a more variable pattern, initially comprising around 35% of the total, declining to a low of 25.7% before partially recovering to approximately 36-38% in later periods.

Current Liabilities
Current liabilities initially remained relatively stable, around 31%, through November 2019. A decrease was observed in the following quarters, reaching a low of 22.76% by May 2021. Subsequently, current liabilities increased, peaking at 29.63% in February 2022, before fluctuating between approximately 26% and 28% through November 2024. A slight increase to 30.80% was noted in August 2025.
Long-Term Debt
Long-term debt, excluding current portions, showed a decreasing trend from 13.19% in August 2019 to a low of 20.74% in February 2024. Prior to this decline, a significant increase occurred between February 2020 and May 2020, rising from 13.21% to 30.01%. The latter portion of the period saw some recovery, reaching 24.27% in August 2023, but ultimately decreased to 18.57% by August 2025.
Operating Lease Liabilities
Both current and non-current operating lease liabilities demonstrated a consistent downward trend throughout the period. Current portion decreased from 1.63% to 1.36% by November 2025, while the non-current portion decreased from 10.19% to 7.29% over the same timeframe. This suggests a reduction in lease obligations or a reclassification of these liabilities.
Shareholders’ Equity
Shareholders’ equity experienced a notable decline from 35.05% in August 2019 to a low of 25.70% in May 2020. It then exhibited a recovery, peaking at 38.35% in February 2021, before fluctuating between approximately 34% and 38% for the remainder of the period. The components of shareholders’ equity, specifically retained earnings and accumulated other comprehensive income (loss), contributed to this variability. Retained earnings decreased significantly in the early part of the period, then recovered, while accumulated other comprehensive income (loss) fluctuated between positive and negative values.
Accounts Payable & Accrued Liabilities
Accounts payable generally fluctuated between 5.63% and 10.35%, with a slight upward trend in the later periods. Accrued liabilities showed more volatility, ranging from 13.96% to 17.56%, with a general increase towards the end of the observed period. These fluctuations may reflect changes in operational activity and payment terms.
Income Taxes Payable
Income taxes payable exhibited a notable increase in the later periods, rising from approximately 0.41% to 2.02% in February 2022, and further to 1.83% in May 2022, before decreasing to 1.30% in August 2025. This suggests potential changes in tax liabilities or timing of tax payments.

Overall, the liability structure shifted over time, with a relative decrease in long-term debt and a fluctuating, but generally stable, level of current liabilities. Shareholders’ equity experienced periods of decline and recovery, influenced by changes in retained earnings and other comprehensive income. These trends suggest potential changes in financing strategies and operational performance.