Current Ratio
since 2005
Calculation
Nike Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| 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: 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
- Current Assets
- The current assets exhibit a general upward trend over the 20-year period. Starting from approximately 6.35 billion USD in 2005, there is steady growth year-over-year with notable increases, especially from 2018 to 2021, reaching a peak around 28.21 billion USD in 2022. However, a slight decline occurs in the last two years, dropping to about 25.38 billion USD by 2024.
- Current Liabilities
- Current liabilities also show an overall upward trend but with more fluctuation compared to current assets. Beginning at just under 2 billion USD in 2005, liabilities increased significantly in several periods, such as between 2013 and 2015 and again from 2019 to 2022, peaking around 10.73 billion USD in 2022. In recent years, the values stabilize somewhat but remain elevated around 10.59 billion USD by 2024.
- Current Ratio
- The current ratio fluctuates over the two decades but remains generally above 2.0, indicating a consistently good short-term liquidity position. It starts at a high of 3.18 in 2005, dips in some years such as 2008 (2.66), and again between 2018 and 2019 (around 2.1). Despite these dips, the ratio recovers periodically, mostly hovering between 2.4 and 3.3 across the timeline. The lowest recorded value occurs in 2019, followed by a recovery stabilizing around 2.4 by 2024.
- Overall Analysis
- The data suggests that current assets have grown substantially over the period, outpacing increases in current liabilities, though liabilities have also increased significantly. The maintained current ratio above 2.0 implies that liquidity has been managed well, allowing the company to cover short-term obligations comfortably. Variations in the current ratio suggest periodic changes in working capital management or shifts in asset and liability composition but no indication of liquidity distress. The recent slight decline in current assets paired with stable liabilities warrants monitoring to ensure ongoing liquidity strength.
Comparison to Competitors
Nike Inc., current ratio, long-term trends, comparison to competitors
| Nike Inc. | lululemon athletica inc. | |
|---|---|---|
| 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: 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, 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: 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, 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 | 1.18 |
| 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: 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).