Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Nike Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Price to Sales (P/S) since 2005
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Nike Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Over the analyzed period, the company’s total assets exhibited considerable fluctuation. Initially, total assets remained relatively stable between August 2019 and February 2020, fluctuating around the $26 billion mark. A significant increase was then observed, peaking at $33.258 billion in August 2020, before continuing to rise to $37.740 billion by May 2021. Assets then plateaued and experienced a slight decline to $37.203 billion by November 2023, followed by a modest recovery to $38.110 billion in February 2024, and concluding at $37.787 billion in November 2025.
- Cash and Equivalents
- Cash and equivalents demonstrated substantial volatility. A decrease from $3.446 billion in August 2019 to $2.863 billion in February 2020 was followed by a dramatic surge to $8.348 billion in May 2020. This level was largely maintained through February 2021, peaking at $9.889 billion in May 2021. Subsequently, cash levels decreased, reaching $6.974 billion in November 2025, indicating a consistent drawdown over the latter portion of the period.
- Short-Term Investments
- Short-term investments showed a marked increase from $0.198 billion in August 2019 to a peak of $3.177 billion in November 2020. Following this peak, a consistent downward trend was observed, with levels declining to $1.371 billion by November 2025. This suggests a shift in asset allocation, potentially towards longer-term investments or operational needs.
- Accounts Receivable
- Accounts receivable remained relatively stable between August 2019 and November 2021, fluctuating between approximately $3.7 billion and $4.9 billion. A noticeable increase occurred in May 2022, reaching $5.302 billion, before decreasing to $5.738 billion in August 2025. This suggests potential fluctuations in sales terms or collection periods.
- Inventories
- Inventory levels generally increased over the period. Starting at $5.835 billion in August 2019, inventories rose to a peak of $9.662 billion in August 2022. A subsequent decline was observed, with levels stabilizing around $7.7 billion to $8.2 billion between November 2023 and August 2025. This could indicate changes in supply chain management, production levels, or demand patterns.
- Non-Current Assets
- Non-current assets exhibited a consistent upward trend throughout the analyzed period. Beginning at $10.021 billion in August 2019, these assets increased to $13.772 billion by November 2025. This growth was largely driven by increases in deferred income taxes and other assets, as well as property, plant, and equipment. The consistent growth suggests ongoing investment in long-term assets.
The composition of current assets shifted significantly. While initially dominated by cash and equivalents, the relative importance of this component decreased as the period progressed, with inventories becoming a more substantial portion of current assets. The increase in non-current assets indicates a strategic focus on long-term investments and asset development. Overall, the asset base demonstrated dynamic changes, reflecting evolving business strategies and market conditions.