Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Nike Inc., solvency ratios (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Debt Ratios
Debt to equity 0.65 0.62 0.63 0.63 0.64 0.64 0.65 0.62 0.60 0.62 0.64 0.63 0.66 0.74 0.79 0.89 1.03 1.20 0.38 0.40 0.40 0.38 0.39 0.40 0.39
Debt to equity (including operating lease liability) 0.87 0.83 0.85 0.86 0.87 0.87 0.86 0.82 0.80 0.83 0.85 0.85 0.89 1.00 1.08 1.20 1.41 1.62 0.74 0.74 0.74 0.38 0.39 0.40 0.39
Debt to capital 0.39 0.38 0.39 0.39 0.39 0.39 0.39 0.38 0.37 0.38 0.39 0.39 0.40 0.42 0.44 0.47 0.51 0.55 0.28 0.29 0.29 0.28 0.28 0.29 0.28
Debt to capital (including operating lease liability) 0.47 0.45 0.46 0.46 0.47 0.46 0.46 0.45 0.44 0.45 0.46 0.46 0.47 0.50 0.52 0.55 0.58 0.62 0.42 0.43 0.43 0.28 0.28 0.29 0.28
Debt to assets 0.24 0.23 0.24 0.24 0.24 0.24 0.25 0.24 0.23 0.23 0.24 0.24 0.25 0.25 0.26 0.27 0.29 0.31 0.13 0.14 0.14 0.15 0.15 0.15 0.16
Debt to assets (including operating lease liability) 0.32 0.31 0.32 0.33 0.33 0.32 0.33 0.32 0.31 0.31 0.32 0.33 0.34 0.34 0.36 0.37 0.39 0.42 0.25 0.26 0.26 0.15 0.15 0.15 0.16
Financial leverage 2.72 2.64 2.63 2.63 2.63 2.68 2.64 2.60 2.60 2.64 2.67 2.61 2.64 2.96 3.03 3.27 3.61 3.89 2.90 2.84 2.85 2.62 2.56 2.60 2.50

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Nike Inc. debt to equity ratio improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Nike Inc. debt to equity ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Nike Inc. debt to capital ratio improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Nike Inc. debt to capital ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Nike Inc. debt to assets ratio improved from Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025 not reaching Q3 2024 level.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Nike Inc. debt to assets ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025 not reaching Q3 2024 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Nike Inc. financial leverage ratio increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Debt to Equity

Nike Inc., debt to equity calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
 
Shareholders’ equity 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Solvency Ratio
Debt to equity1 0.65 0.62 0.63 0.63 0.64 0.64 0.65 0.62 0.60 0.62 0.64 0.63 0.66 0.74 0.79 0.89 1.03 1.20 0.38 0.40 0.40 0.38 0.39 0.40 0.39
Benchmarks
Debt to Equity, Competitors2
lululemon athletica inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity
= 9,010 ÷ 13,944 = 0.65

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Nike Inc. debt to equity ratio improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Debt to Equity (including Operating Lease Liability)

Nike Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
Current portion of operating lease liabilities 491 477 474 456 435 425 435 426 424 420 455 462 462 467 470 458 459 445 422 431 427
Operating lease liabilities, excluding current portion 2,625 2,566 2,691 2,785 2,807 2,786 2,692 2,668 2,736 2,777 2,784 2,835 2,898 2,931 2,964 2,896 2,961 2,913 2,758 2,723 2,675
Total debt (including operating lease liability) 12,126 11,952 12,101 12,177 12,177 12,144 12,566 12,525 12,591 12,627 12,657 12,723 12,790 12,813 12,850 12,805 12,966 13,015 6,656 6,922 6,821 3,479 3,487 3,481 3,486
 
Shareholders’ equity 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Solvency Ratio
Debt to equity (including operating lease liability)1 0.87 0.83 0.85 0.86 0.87 0.87 0.86 0.82 0.80 0.83 0.85 0.85 0.89 1.00 1.08 1.20 1.41 1.62 0.74 0.74 0.74 0.38 0.39 0.40 0.39
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
lululemon athletica inc. 0.33 0.33 0.33 0.34 0.33 0.34 0.34 0.33 0.34 0.32 0.32 0.30 0.30 0.31 0.36 0.39 0.43 0.38 0.42 0.46 0.49 0.00 0.00 0.08 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Shareholders’ equity
= 12,126 ÷ 13,944 = 0.87

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Nike Inc. debt to equity ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Debt to Capital

Nike Inc., debt to capital calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
Shareholders’ equity 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Total capital 22,954 23,339 23,162 23,082 22,906 22,937 23,970 24,703 25,253 24,711 24,227 24,350 23,773 22,182 21,347 20,091 18,770 17,712 12,521 13,119 12,919 12,519 12,448 12,210 12,478
Solvency Ratio
Debt to capital1 0.39 0.38 0.39 0.39 0.39 0.39 0.39 0.38 0.37 0.38 0.39 0.39 0.40 0.42 0.44 0.47 0.51 0.55 0.28 0.29 0.29 0.28 0.28 0.29 0.28
Benchmarks
Debt to Capital, Competitors2
lululemon athletica inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 9,010 ÷ 22,954 = 0.39

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Nike Inc. debt to capital ratio improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Debt to Capital (including Operating Lease Liability)

Nike Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
Current portion of operating lease liabilities 491 477 474 456 435 425 435 426 424 420 455 462 462 467 470 458 459 445 422 431 427
Operating lease liabilities, excluding current portion 2,625 2,566 2,691 2,785 2,807 2,786 2,692 2,668 2,736 2,777 2,784 2,835 2,898 2,931 2,964 2,896 2,961 2,913 2,758 2,723 2,675
Total debt (including operating lease liability) 12,126 11,952 12,101 12,177 12,177 12,144 12,566 12,525 12,591 12,627 12,657 12,723 12,790 12,813 12,850 12,805 12,966 13,015 6,656 6,922 6,821 3,479 3,487 3,481 3,486
Shareholders’ equity 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Total capital (including operating lease liability) 26,070 26,382 26,327 26,323 26,148 26,148 27,097 27,797 28,413 27,908 27,466 27,647 27,133 25,580 24,781 23,445 22,190 21,070 15,701 16,273 16,021 12,519 12,448 12,210 12,478
Solvency Ratio
Debt to capital (including operating lease liability)1 0.47 0.45 0.46 0.46 0.47 0.46 0.46 0.45 0.44 0.45 0.46 0.46 0.47 0.50 0.52 0.55 0.58 0.62 0.42 0.43 0.43 0.28 0.28 0.29 0.28
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
lululemon athletica inc. 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.24 0.24 0.23 0.23 0.24 0.26 0.28 0.30 0.27 0.30 0.32 0.33 0.00 0.00 0.07 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 12,126 ÷ 26,070 = 0.47

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Nike Inc. debt to capital ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then deteriorated significantly from Q4 2024 to Q1 2025.

Debt to Assets

Nike Inc., debt to assets calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
 
Total assets 37,867 38,110 37,356 37,203 36,786 37,531 38,294 39,647 41,088 40,321 39,577 38,917 37,917 37,740 36,185 34,836 33,258 31,342 26,220 26,602 26,249 23,717 22,921 22,677 22,483
Solvency Ratio
Debt to assets1 0.24 0.23 0.24 0.24 0.24 0.24 0.25 0.24 0.23 0.23 0.24 0.24 0.25 0.25 0.26 0.27 0.29 0.31 0.13 0.14 0.14 0.15 0.15 0.15 0.16
Benchmarks
Debt to Assets, Competitors2
lululemon athletica inc. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= 9,010 ÷ 37,867 = 0.24

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Nike Inc. debt to assets ratio improved from Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025 not reaching Q3 2024 level.

Debt to Assets (including Operating Lease Liability)

Nike Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,000 1,000 500 500 500 500 1 3 4 6 6 6 6 6 6
Notes payable 12 6 6 6 6 6 14 7 9 10 9 15 2 4 41 137 248 9 300 250 9 16 9 13
Long-term debt, excluding current portion 7,998 7,903 8,930 8,930 8,929 8,927 8,925 8,924 8,922 8,920 9,418 9,417 9,415 9,413 9,412 9,410 9,408 9,406 3,463 3,462 3,463 3,464 3,465 3,466 3,467
Total debt 9,010 8,909 8,936 8,936 8,935 8,933 9,439 9,431 9,431 9,430 9,418 9,426 9,430 9,415 9,416 9,451 9,546 9,657 3,476 3,768 3,719 3,479 3,487 3,481 3,486
Current portion of operating lease liabilities 491 477 474 456 435 425 435 426 424 420 455 462 462 467 470 458 459 445 422 431 427
Operating lease liabilities, excluding current portion 2,625 2,566 2,691 2,785 2,807 2,786 2,692 2,668 2,736 2,777 2,784 2,835 2,898 2,931 2,964 2,896 2,961 2,913 2,758 2,723 2,675
Total debt (including operating lease liability) 12,126 11,952 12,101 12,177 12,177 12,144 12,566 12,525 12,591 12,627 12,657 12,723 12,790 12,813 12,850 12,805 12,966 13,015 6,656 6,922 6,821 3,479 3,487 3,481 3,486
 
Total assets 37,867 38,110 37,356 37,203 36,786 37,531 38,294 39,647 41,088 40,321 39,577 38,917 37,917 37,740 36,185 34,836 33,258 31,342 26,220 26,602 26,249 23,717 22,921 22,677 22,483
Solvency Ratio
Debt to assets (including operating lease liability)1 0.32 0.31 0.32 0.33 0.33 0.32 0.33 0.32 0.31 0.31 0.32 0.33 0.34 0.34 0.36 0.37 0.39 0.42 0.25 0.26 0.26 0.15 0.15 0.15 0.16
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
lululemon athletica inc. 0.21 0.20 0.19 0.20 0.20 0.19 0.20 0.19 0.19 0.18 0.19 0.18 0.18 0.19 0.21 0.22 0.24 0.23 0.24 0.26 0.27 0.00 0.00 0.05 0.00

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 12,126 ÷ 37,867 = 0.32

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Nike Inc. debt to assets ratio (including operating lease liability) improved from Q3 2024 to Q4 2024 but then slightly deteriorated from Q4 2024 to Q1 2025 not reaching Q3 2024 level.

Financial Leverage

Nike Inc., financial leverage calculation (quarterly data)

Microsoft Excel
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 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018
Selected Financial Data (US$ in millions)
Total assets 37,867 38,110 37,356 37,203 36,786 37,531 38,294 39,647 41,088 40,321 39,577 38,917 37,917 37,740 36,185 34,836 33,258 31,342 26,220 26,602 26,249 23,717 22,921 22,677 22,483
Shareholders’ equity 13,944 14,430 14,226 14,146 13,971 14,004 14,531 15,272 15,822 15,281 14,809 14,924 14,343 12,767 11,931 10,640 9,224 8,055 9,045 9,351 9,200 9,040 8,961 8,729 8,992
Solvency Ratio
Financial leverage1 2.72 2.64 2.63 2.63 2.63 2.68 2.64 2.60 2.60 2.64 2.67 2.61 2.64 2.96 3.03 3.27 3.61 3.89 2.90 2.84 2.85 2.62 2.56 2.60 2.50
Benchmarks
Financial Leverage, Competitors2
lululemon athletica inc. 1.62 1.68 1.71 1.70 1.68 1.78 1.75 1.72 1.76 1.80 1.72 1.65 1.64 1.64 1.68 1.75 1.74 1.68 1.73 1.79 1.80 1.44 1.41 1.42 1.23

Based on: 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), 10-K (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31).

1 Q1 2025 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity
= 37,867 ÷ 13,944 = 2.72

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Nike Inc. financial leverage ratio increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.