Analysis of Geographic Areas
Nike Inc. operates in 1 regions: and United States.
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- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Aggregate Accruals
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Area Asset Turnover
Nike Inc., asset turnover by geographic area
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | |
|---|---|---|---|---|---|---|
| United States |
Based on: 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).
- United States Asset Turnover Trend
-
The annual asset turnover ratio for the United States shows a consistent upward trend from May 31, 2020, through May 31, 2024. Beginning at 2.86, the ratio increased steadily each year, reaching a peak of 4.46 in May 31, 2024. This indicates improving efficiency in asset usage to generate revenue within the U.S. market during this period.
However, a slight decline is observed in the most recent data point, May 31, 2025, where the ratio falls marginally to 4.42 from 4.46 the previous year. Although this decrease is minor, it may suggest a plateauing or slight reduction in asset turnover efficiency after several years of growth.
Overall, the data reflects a strong improvement in asset turnover in the United States over the five-year span, with a very slight deceleration in the latest period that warrants monitoring for potential trends.
Area Asset Turnover: United States
Nike Inc.; United States; area asset turnover calculation
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | ||||||
| Long-lived assets | ||||||
| Area Activity Ratio | ||||||
| Area asset turnover1 | ||||||
Based on: 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).
1 2025 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenues
- The revenues demonstrated a generally increasing trend from May 31, 2020 to May 31, 2023, growing from $14,625 million to a peak of $22,007 million. However, following this peak, there was a decline over the next two years, with revenues decreasing to $21,551 million in 2024 and further to $19,725 million in 2025.
- Long-lived assets
- The value of long-lived assets showed a gradual decline across the period. Starting at $5,114 million in 2020, the assets decreased slightly year-over-year, with a minor increase in 2023, before continuing its downward trend to $4,467 million by 2025.
- Area asset turnover
- The area asset turnover ratio exhibited a consistent upward trend from 2.86 in 2020 to a high of 4.46 in 2024, indicating improving efficiency in generating revenues from long-lived assets. This ratio slightly decreased to 4.42 in 2025 but remained significantly higher than the earlier years.
- Overall analysis
- The data suggests a pattern of revenue growth until 2023, followed by a decline in subsequent years, while long-lived assets steadily decreased. Despite this, the area asset turnover ratio increased notably throughout the period, implying enhanced effectiveness in utilizing assets to generate revenues. The slight downturn in the ratio in the final year may warrant monitoring but does not negate the overall improvement in asset efficiency.
Revenues
Nike Inc., revenues by geographic area
US$ in millions
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | |
|---|---|---|---|---|---|---|
| United States |
Based on: 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).
The annual revenues from the United States region exhibit a general upward trend from May 31, 2020, to May 31, 2023, followed by a decline in the subsequent two years. Initially, revenue increased steadily from $14,625 million in 2020 to $22,007 million in 2023, indicating strong growth over this four-year period.
However, from 2023 onwards, the revenues display a decreasing trend, falling to $21,551 million in 2024 and further declining to $19,725 million in 2025. This shift suggests a potential change in market conditions or company performance within the United States during the last two years.
Overall, the data indicates a growth phase up until 2023, followed by a period of contraction in revenue from the United States market over the latest two fiscal years.
Long-lived assets
Nike Inc., long-lived assets by geographic area
US$ in millions
| May 31, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | |
|---|---|---|---|---|---|---|
| United States |
Based on: 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).
The data for long-lived assets in the United States over the most recent six fiscal years displays a general downward trend. Starting at a value of 5114 million US dollars in the year ending May 31, 2020, the asset base slightly decreased to 4927 million in 2021 and remained relatively stable in 2022 with a small decline to 4916 million. However, from 2023 onwards, the decrease became more pronounced, with assets reported at 5129 million in 2023 followed by a more significant reduction to 4837 million in 2024 and further down to 4467 million in 2025.
- Trend Analysis
- The values suggest a modest contraction in the asset base in the first three years, with fluctuations around the 4900-5100 million mark. The sharp decrease in the latter years could indicate strategic asset disposals, impairment charges, or shifts in operational focus in the United States region.
- Asset Stability
- Despite some variability, the asset level retained a relatively stable position near the 5000 million mark until the year ending May 2023. The subsequent decline highlights a potential restructuring or reduction in investment in the U.S. long-lived assets.
- Potential Implications
- This continuous reduction over the last two reported years may impact capacity, operational scale, or financial flexibility in the region. It might reflect broader strategic decisions to optimize asset utilization or respond to market conditions.