Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Income Statement 

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Nike Inc., consolidated income statement

US$ in millions

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12 months ended: May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Revenues 44,538  37,403  39,117  36,397  34,350  32,376 
Cost of sales (24,576) (21,162) (21,643) (20,441) (19,038) (17,405)
Gross profit 19,962  16,241  17,474  15,956  15,312  14,971 
Demand creation expense (3,114) (3,592) (3,753) (3,577) (3,341) (3,278)
Operating overhead expense (9,911) (9,534) (8,949) (7,934) (7,222) (7,191)
Selling and administrative expense (13,025) (13,126) (12,702) (11,511) (10,563) (10,469)
Operating income 6,937  3,115  4,772  4,445  4,749  4,502 
Interest income 34  62  82  70  27  12 
Interest expense (296) (151) (131) (124) (86) (31)
Interest income (expense), net (262) (89) (49) (54) (59) (19)
Other income (expense), net (14) (139) 78  (66) 196  140 
Income before income taxes 6,661  2,887  4,801  4,325  4,886  4,623 
Income tax expense (934) (348) (772) (2,392) (646) (863)
Net income 5,727  2,539  4,029  1,933  4,240  3,760 

Based on: 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Nike Inc. revenues decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Operating income The net result for the period of deducting operating expenses from operating revenues. Nike Inc. operating income decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Nike Inc. income before income taxes decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Nike Inc. net income decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.