Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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Nike Inc. pages available for free this week:
- Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
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Nike Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-02-28), 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 financial information reveals fluctuating cash flows over the analyzed period, spanning from August 2019 to November 2025. Net income demonstrates considerable volatility, experiencing a significant loss in May 2020 before recovering and peaking in August 2021. Subsequent periods show a more moderate range, with a dip in early 2024. Operating cash flow generally follows a similar pattern, though less dramatically, with a substantial positive contribution in November 2020 and a negative value in August 2023. Investing and financing activities also exhibit substantial shifts, impacting overall cash positions.
- Net Income & Operational Performance
- Net income began at US$1,367 million in August 2019, decreased to a loss of US$-790 million in May 2020, and then increased to US$1,874 million in August 2021. A subsequent decline is observed, reaching US$794 million in February 2023, before a partial recovery. Depreciation and amortization remained relatively stable, averaging around US$180-200 million per quarter. Stock-based compensation consistently increased over the period, reaching US$216 million by February 2024. Adjustments to reconcile net income to net cash provided by operations were substantial and varied, indicating significant non-cash items impacting cash flow.
- Working Capital Dynamics
- Significant fluctuations are evident in working capital components. Accounts receivable decreased substantially in several periods, notably in May 2020 and August 2021, suggesting efficient collection practices or changes in credit terms. Inventory levels also showed considerable movement, with a large decrease in May 2020 and increases in subsequent periods. Changes in accounts payable and accrued liabilities were also substantial, contributing to the overall cash flow from operations. The combined effect of these working capital changes is a significant impact on the overall cash flow from operations.
- Investing Activities
- Purchases of short-term investments were consistently high, often exceeding US$1 billion per quarter, particularly in late 2019 and 2020. Maturities of short-term investments partially offset these purchases. Additions to property, plant, and equipment remained relatively consistent, averaging around US$200-300 million per quarter. Overall, cash used in investing activities was substantial, indicating significant capital expenditure and investment activity.
- Financing Activities
- Financing activities were highly variable. A large inflow from borrowings occurred in May 2020 (US$6,134 million), likely related to securing liquidity during the pandemic. Repurchases of common stock were consistently significant, exceeding US$900 million in many quarters. Dividends paid remained relatively stable, averaging around US$400-600 million per quarter. The net effect of financing activities was often negative, reflecting substantial capital returns to shareholders.
- Overall Cash Flow & Exchange Rate Effects
- Net cash flow from operations was positive in most periods, although it experienced a negative value in August 2023. The net increase or decrease in cash and equivalents varied significantly, with a substantial increase in May 2020 driven by the large inflow from financing activities. The effect of exchange rate changes on cash and equivalents was generally modest, though occasionally substantial, indicating some exposure to foreign currency fluctuations. The overall trend suggests a company actively managing its cash position through a combination of operational performance, investment strategies, and financing activities.