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:	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
Revenues	11,097)	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)
Cost of sales	(6,628)	(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)
Gross profit	4,469)	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)
Demand creation expense	(1,253)	(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)
Operating overhead expense	(2,895)	(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)
Selling and administrative expense	(4,148)	(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)
Operating income	321)	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)
Interest income (expense), net	22)	18)	24)	43)	53)	52)	22)	34)	28)	7)	(16)	(13)	(40)	(53)	(55)	(57)	(63)	(64)	(70)	(65)	(50)	(12)	(12)	(15)
Other income (expense), net	(25)	38)	8)	55)	127)	16)	75)	10)	(3)	58)	79)	146)	(54)	94)	102)	39)	4)	22)	(54)	14)	84)	(297)	41)	33)
Income before income taxes	318)	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)
Income tax expense	(107)	(50)	(253)	(256)	(226)	(232)	(344)	(198)	(215)	(237)	(319)	(360)	65)	(274)	(164)	(232)	(345)	(187)	(205)	(197)	14)	(34)	(134)	(194)
Net income	211)	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)

Revenues: Revenues exhibited fluctuations over the periods analyzed, with a notable decline during the quarter ending May 31, 2020, likely impacted by external factors, followed by a recovery and growth reaching a peak in November 2022. After this peak, revenues showed variability with occasional declines, ending lower by May 31, 2025.
Cost of Sales: The cost of sales generally trended in alignment with revenues, decreasing sharply in May 2020, then increasing steadily through 2022. Despite some volatility, costs remained elevated towards the end of the timeline, though slightly declining after early 2024.
Gross Profit: Gross profit followed a similar pattern to revenues, with a significant drop in May 2020 and subsequent recovery. The gross margin exhibits slight improvement in later periods, with gross profit peaking in August 2023 before a gradual decrease was observed in the final quarters.
Demand Creation Expense: Demand creation expenses fluctuated notably, decreasing initially in 2020 but generally increasing from late 2020 onwards. Peaks occurred periodically, particularly around November 2024 and May 2025, suggesting intensified spending on marketing or promotional activities.
Operating Overhead Expense: Operating overhead expenses demonstrated a gradual upward trend post-2020, stabilizing at higher levels throughout 2022 to 2024. This indicates increased fixed costs or operating expenses that remained substantial toward the end of the period.
Selling and Administrative Expense: Selling and administrative expenses showed consistent increases over the timeline, with pronounced jumps starting in late 2021. Despite some minor declines, these expenses remained elevated, suggesting sustained investments in sales and administration functions.
Operating Income: Operating income was volatile, with a drastic drop into negative territory in May 2020, recovering thereafter to reach highs in 2021. The later periods reflect decreased operating income, with a downward trajectory noted towards the end of the timeline, indicating pressures on operational profitability.
Interest Income (Expense), Net: Interest expense initially was negative, reflecting net costs, but shifted towards positive values in later periods, indicating net interest income. This transition suggests improved financial management or changes in debt and investment structure.
Other Income (Expense), Net: Other income and expenses showed significant fluctuations, with sporadic high positives and negatives. The lack of a clear trend suggests these items are irregular and possibly related to non-operational factors or one-time events.
Income Before Income Taxes: Income before taxes mirrored the operating income trend closely with a steep decline in May 2020, followed by recovery and irregular highs. The latter quarters showed weakening income before taxes, corresponding with declining operating income.
Income Tax Expense: Income tax expenses varied, occasionally turning positive likely due to tax benefits or adjustments, and generally tracked with pre-tax income fluctuations. The irregular pattern indicates changing tax conditions or the impact of non-recurring tax items.
Net Income: Net income experienced similar volatility as operating and pre-tax income, with a profound negative value in May 2020 and a recovery phase afterward. While net income peaked in mid-2021, it displayed a downward trend starting in late 2023, revealing growing challenges to overall profitability.

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Nike Inc. (NYSE:NKE)

Income Statement Quarterly Data

Income Statement
Quarterly Data