Current Ratio
since 2005
Calculation
Nike Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| May 31, 2026 | 1.96 | = | 24,603) | ÷ | 12,547) |
| May 31, 2025 | 2.21 | = | 23,362) | ÷ | 10,566) |
| May 31, 2024 | 2.40 | = | 25,382) | ÷ | 10,593) |
| May 31, 2023 | 2.72 | = | 25,202) | ÷ | 9,256) |
| May 31, 2022 | 2.63 | = | 28,213) | ÷ | 10,730) |
| May 31, 2021 | 2.72 | = | 26,291) | ÷ | 9,674) |
| May 31, 2020 | 2.48 | = | 20,556) | ÷ | 8,284) |
| May 31, 2019 | 2.10 | = | 16,525) | ÷ | 7,866) |
| May 31, 2018 | 2.51 | = | 15,134) | ÷ | 6,040) |
| May 31, 2017 | 2.93 | = | 16,061) | ÷ | 5,474) |
| May 31, 2016 | 2.80 | = | 15,025) | ÷ | 5,358) |
| May 31, 2015 | 2.52 | = | 15,976) | ÷ | 6,334) |
| May 31, 2014 | 2.72 | = | 13,696) | ÷ | 5,027) |
| May 31, 2013 | 3.47 | = | 13,626) | ÷ | 3,926) |
| May 31, 2012 | 2.98 | = | 11,531) | ÷ | 3,865) |
| May 31, 2011 | 2.85 | = | 11,297) | ÷ | 3,958) |
| May 31, 2010 | 3.26 | = | 10,959) | ÷ | 3,364) |
| May 31, 2009 | 2.97 | = | 9,734) | ÷ | 3,277) |
| May 31, 2008 | 2.66 | = | 8,839) | ÷ | 3,322) |
| May 31, 2007 | 3.13 | = | 8,077) | ÷ | 2,584) |
| May 31, 2006 | 2.81 | = | 7,359) | ÷ | 2,623) |
| May 31, 2005 | 3.18 | = | 6,351) | ÷ | 1,999) |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 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), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$ in millions
The financial data reveals a long-term contraction in the liquidity position, characterized by a gradual decline in the current ratio over a twenty-year period. While the organization has consistently maintained a current ratio significantly above the 1.0 threshold—indicating a robust capacity to meet short-term obligations—the margin of safety has narrowed over time.
- Asset and Liability Trajectories
- Current assets grew substantially from 6,351 million US dollars in 2005 to a peak of 28,213 million US dollars in 2022, before stabilizing near 24,603 million US dollars by 2026. Concurrently, current liabilities experienced a more aggressive relative increase, rising from 1,999 million US dollars in 2005 to 12,547 million US dollars by 2026. This divergence indicates that short-term obligations expanded at a faster rate than the liquid assets available to cover them in the latter half of the period.
- Current Ratio Volatility and Trend
- Between 2005 and 2013, the current ratio remained relatively high and stable, fluctuating between 2.66 and a peak of 3.47. Following 2013, a persistent downward trend is observed. The ratio decreased from its 3.47 peak to 2.40 in 2023, reaching a period low of 1.96 by 2026. This consistent decline suggests a strategic shift toward leaner working capital management or an increase in the utilization of short-term financing.
- Liquidity Assessment
- Despite the overarching downward trajectory, the current ratio has remained comfortably above 1.90 throughout the entire period. This demonstrates a sustained ability to cover current liabilities, although the steady decrease from the 2013 peak reflects a reduction in the overall liquidity surplus.
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Comparison to Competitors
Nike Inc., current ratio, long-term trends, comparison to competitors
| Nike Inc. | lululemon athletica inc. | |
|---|---|---|
| May 31, 2026 | 1.96 | 2.26 |
| May 31, 2025 | 2.21 | 2.16 |
| May 31, 2024 | 2.40 | 2.49 |
| May 31, 2023 | 2.72 | 2.12 |
| May 31, 2022 | 2.63 | 1.86 |
| May 31, 2021 | 2.72 | 2.41 |
| May 31, 2020 | 2.48 | 2.91 |
| May 31, 2019 | 2.10 | 2.86 |
| May 31, 2018 | 2.51 | 4.91 |
| May 31, 2017 | 2.93 | 4.82 |
| May 31, 2016 | 2.80 | 4.07 |
| May 31, 2015 | 2.52 | 5.95 |
| May 31, 2014 | 2.72 | 8.31 |
| May 31, 2013 | 3.47 | 5.90 |
| May 31, 2012 | 2.98 | 5.10 |
| May 31, 2011 | 2.85 | 4.56 |
| May 31, 2010 | 3.26 | 3.69 |
| May 31, 2009 | 2.97 | 2.58 |
| May 31, 2008 | 2.66 | 2.73 |
| May 31, 2007 | 3.13 | — |
| May 31, 2006 | 2.81 | — |
| May 31, 2005 | 3.18 | — |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 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), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Sector (Consumer Durables & Apparel)
Nike Inc., current ratio, long-term trends, comparison to sector (consumer durables & apparel)
| Nike Inc. | Consumer Durables & Apparel | |
|---|---|---|
| May 31, 2026 | 1.96 | — |
| May 31, 2025 | 2.21 | 2.20 |
| May 31, 2024 | 2.40 | 2.41 |
| May 31, 2023 | 2.72 | 2.64 |
| May 31, 2022 | 2.63 | 2.54 |
| May 31, 2021 | 2.72 | 2.69 |
| May 31, 2020 | 2.48 | 2.51 |
| May 31, 2019 | 2.10 | 2.15 |
| May 31, 2018 | 2.51 | 2.62 |
| May 31, 2017 | 2.93 | 3.01 |
| May 31, 2016 | 2.80 | 2.86 |
| May 31, 2015 | 2.52 | 2.61 |
| May 31, 2014 | 2.72 | 2.85 |
| May 31, 2013 | 3.47 | 3.55 |
| May 31, 2012 | 2.98 | 3.04 |
| May 31, 2011 | 2.85 | 2.89 |
| May 31, 2010 | 3.26 | 3.26 |
| May 31, 2009 | 2.97 | 2.97 |
| May 31, 2008 | 2.66 | 2.66 |
| May 31, 2007 | 3.13 | 3.13 |
| May 31, 2006 | 2.81 | 2.81 |
| May 31, 2005 | 3.18 | 3.18 |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 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), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Industry (Consumer Discretionary)
Nike Inc., current ratio, long-term trends, comparison to industry (consumer discretionary)
| Nike Inc. | Consumer Discretionary | |
|---|---|---|
| May 31, 2026 | 1.96 | — |
| May 31, 2025 | 2.21 | 1.18 |
| May 31, 2024 | 2.40 | 1.22 |
| May 31, 2023 | 2.72 | 1.20 |
| May 31, 2022 | 2.63 | 1.15 |
| May 31, 2021 | 2.72 | 1.25 |
| May 31, 2020 | 2.48 | 1.19 |
| May 31, 2019 | 2.10 | 1.10 |
| May 31, 2018 | 2.51 | 1.15 |
| May 31, 2017 | 2.93 | 1.15 |
| May 31, 2016 | 2.80 | 1.12 |
| May 31, 2015 | 2.52 | 1.25 |
| May 31, 2014 | 2.72 | 1.11 |
| May 31, 2013 | 3.47 | 1.15 |
| May 31, 2012 | 2.98 | 1.14 |
| May 31, 2011 | 2.85 | 1.31 |
| May 31, 2010 | 3.26 | 1.24 |
| May 31, 2009 | 2.97 | 1.25 |
| May 31, 2008 | 2.66 | 0.96 |
| May 31, 2007 | 3.13 | 1.21 |
| May 31, 2006 | 2.81 | 1.15 |
| May 31, 2005 | 3.18 | 1.10 |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 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), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).