Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

3 months ended:	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	May 31, 2019	Feb 28, 2019	Nov 30, 2018	Aug 31, 2018
Revenues	11,269)	12,354)	11,589)	12,606)	12,429)	13,388)	12,939)	12,825)	12,390)	13,315)	12,687)	12,234)	10,871)	11,357)	12,248)	12,344)	10,357)	11,243)	10,594)	6,313)	10,104)	10,326)	10,660)	10,184)	9,611)	9,374)	9,948)
Cost of sales	(6,594)	(6,965)	(6,332)	(6,972)	(6,867)	(7,417)	(7,219)	(7,230)	(7,019)	(7,604)	(7,072)	(6,731)	(5,804)	(6,144)	(6,552)	(6,689)	(5,638)	(6,396)	(5,853)	(3,960)	(5,631)	(5,782)	(5,789)	(5,551)	(5,272)	(5,269)	(5,551)
Gross profit	4,675)	5,389)	5,257)	5,634)	5,562)	5,971)	5,720)	5,595)	5,371)	5,711)	5,615)	5,503)	5,067)	5,213)	5,696)	5,655)	4,719)	4,847)	4,741)	2,353)	4,473)	4,544)	4,871)	4,633)	4,339)	4,105)	4,397)
Demand creation expense	(1,088)	(1,122)	(1,226)	(1,091)	(1,011)	(1,114)	(1,069)	(1,092)	(923)	(1,102)	(943)	(1,061)	(854)	(1,017)	(918)	(997)	(711)	(729)	(677)	(823)	(870)	(881)	(1,018)	(1,014)	(865)	(910)	(964)
Operating overhead expense	(2,799)	(2,883)	(2,822)	(2,997)	(3,215)	(3,032)	(3,047)	(3,282)	(3,036)	(3,022)	(2,977)	(2,974)	(2,584)	(2,742)	(2,654)	(2,745)	(2,330)	(2,538)	(2,298)	(2,368)	(2,413)	(2,443)	(2,310)	(2,392)	(2,226)	(2,232)	(2,099)
Selling and administrative expense	(3,887)	(4,005)	(4,048)	(4,088)	(4,226)	(4,146)	(4,116)	(4,374)	(3,959)	(4,124)	(3,920)	(4,035)	(3,438)	(3,759)	(3,572)	(3,742)	(3,041)	(3,267)	(2,975)	(3,191)	(3,283)	(3,324)	(3,328)	(3,406)	(3,091)	(3,142)	(3,063)
Operating income	788)	1,384)	1,209)	1,546)	1,336)	1,825)	1,604)	1,221)	1,412)	1,587)	1,695)	1,468)	1,629)	1,454)	2,124)	1,913)	1,678)	1,580)	1,766)	(838)	1,190)	1,220)	1,543)	1,227)	1,248)	963)	1,334)
Interest income (expense), net	18)	24)	43)	53)	52)	22)	34)	28)	7)	(16)	(13)	(40)	(53)	(55)	(57)	(63)	(64)	(70)	(65)	(50)	(12)	(12)	(15)	(12)	(12)	(14)	(11)
Other income (expense), net	38)	8)	55)	127)	16)	75)	10)	(3)	58)	79)	146)	(54)	94)	102)	39)	4)	22)	(54)	14)	84)	(297)	41)	33)	28)	55)	48)	(53)
Income before income taxes	844)	1,416)	1,307)	1,726)	1,404)	1,922)	1,648)	1,246)	1,477)	1,650)	1,828)	1,374)	1,670)	1,501)	2,106)	1,854)	1,636)	1,456)	1,715)	(804)	881)	1,249)	1,561)	1,243)	1,291)	997)	1,270)
Income tax expense	(50)	(253)	(256)	(226)	(232)	(344)	(198)	(215)	(237)	(319)	(360)	65)	(274)	(164)	(232)	(345)	(187)	(205)	(197)	14)	(34)	(134)	(194)	(254)	(190)	(150)	(178)
Net income	794)	1,163)	1,051)	1,500)	1,172)	1,578)	1,450)	1,031)	1,240)	1,331)	1,468)	1,439)	1,396)	1,337)	1,874)	1,509)	1,449)	1,251)	1,518)	(790)	847)	1,115)	1,367)	989)	1,101)	847)	1,092)

Revenue Trends: Revenues display seasonal variability with general growth over the longer term. A substantial decline occurred in May 2020 followed by recovery and new peaks by the end of 2021 and 2022. The latest periods show moderate fluctuations with revenues remaining above earlier years but slightly lower than peak levels.
Cost of Sales: Cost of sales tracks closely with revenue movements, including a sharp reduction in May 2020. Post-2020, costs tend to rise steadily, reflecting increasing expenses despite revenue growth. The margin pressure is visible in recent quarters as cost increases outpace revenue growth.
Gross Profit: Gross profit exhibits a seasonal pattern aligned with revenue and cost changes. There is a notable dip in May 2020, with recovery and growth thereafter. However, recent quarters show a slight downward trend in gross profit, indicating tightening profitability at the gross level.
Demand Creation Expense: Demand creation spending generally fluctuates but shows a slight upward trend in more recent periods, especially after 2021. This indicates increased investment in marketing and brand promotion, possibly to counteract competitive pressures or sustain sales growth.
Operating Overhead Expense: Operating overhead is relatively stable with slight upward movement over the entire time frame. Peaks occur in some quarters suggesting variable expense components, but generally overhead costs have increased, contributing to pressure on operating margins.
Selling and Administrative Expense: Selling and administrative expenses also show an upward trend, with periodic increases coincident with revenue growth periods. The expense remains a significant portion of total costs, reflecting emphasis on operational scaling and administrative support.
Operating Income: Operating income demonstrates strong seasonality and volatility, notably plummeting to negative values in May 2020 but rebounding strongly thereafter. While there is growth to peak levels around 2021, recent quarters exhibit a downward correction, indicating volatility and some margin compression.
Interest Income (Expense), Net: Net interest expense remains minor relative to operating results but shows a trend toward modest improvement in recent quarters with slight income in the latest periods, potentially influencing net profitability positively.
Other Income (Expense), Net: Other income/expense is variable with occasional large positive and negative swings. There is no clear trend but significant positive values in some recent quarters support overall income before taxes.
Income Before Income Taxes: Income before income taxes follows operating income trends closely, with a drop in May 2020 and strong recovery after. Peaks occur in 2021 with some volatility in subsequent quarters. Overall, this metric reflects sensitivity to operating performance swings.
Income Tax Expense: Income tax expense patterns correlate with pre-tax income but are somewhat irregular, with occasional tax credits or lower expenses in certain quarters possibly due to tax planning or non-recurring adjustments.
Net Income: Net income mirrors income before taxes and operating income trends, showing significant volatility including a strong negative result in May 2020 and robust recovery thereafter. After peaking around 2021, recent quarters indicate variability and some softness, reflecting operational and market challenges.

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Nike Inc. (NYSE:NKE)

Income Statement Quarterly Data

Income Statement
Quarterly Data