Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Nike Inc., long-term (investment) activity ratios (quarterly data)
Based on: 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 analysis of the financial turnover ratios over the presented periods reveals several notable trends in operational efficiency and asset utilization.
- Net Fixed Asset Turnover
- The ratio exhibits a general upward trend starting from a level around 7.69 to peaks exceeding 10.25 during the middle periods, indicating an improvement in generating sales from net fixed assets. The ratio remains relatively stable above 10 for several quarters before a slight decline occurs towards the latest periods, closing just below 9.6. This pattern suggests that the company enhanced its efficiency in using fixed assets up to a certain point but has experienced a moderate slowdown recently.
- Net Fixed Asset Turnover Including Operating Lease, Right-of-Use Assets
- This adjusted turnover ratio also shows growth, albeit at a lower magnitude, moving from about 4.7 to values around 6.5. Similar to the base net fixed asset turnover, the increase indicates improved utilization of fixed assets when incorporating leased asset values. Despite some fluctuations, the ratio remains relatively stable in the latter stages, though it also demonstrates a mild tapering after peak levels.
- Total Asset Turnover
- The total asset turnover starts modestly at 1.19 and experiences a slight decline in the earlier quarters, dipping to around 1.06, presumably impacted by asset growth or sales variation during that period. Subsequently, a recovery phase is observed, with the ratio rising to approximately 1.4, denoting better overall asset efficiency in generating revenue. The ratio then gradually decreases but maintains levels above 1.2, hinting at consistent, if somewhat moderated, asset usage effectiveness.
- Equity Turnover
- The equity turnover ratio shows a declining trend early on, dropping from 4.64 to near 3.23, pointing to reduced revenue generation relative to shareholders' equity during those quarters. Afterwards, there is a gradual recovery and stabilization in the range of 3.2 to 3.68 before experiencing minor fluctuations that maintain the ratio roughly between 3.4 and 3.6. The stable period suggests consistent operational leverage on equity, albeit at a lower level than initially observed.
Overall, the turnover ratios reflect a period of operational improvements followed by a phase of stabilization with slight declines toward the later periods. This indicates that the company made strides in optimizing asset utilization and equity efficiency mid-term but faces challenges sustaining this momentum recently.
Net Fixed Asset Turnover
Nike Inc., net fixed asset turnover calculation (quarterly data)
| Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | 11,720) | 11,097) | 11,269) | 12,354) | 11,589) | 12,606) | 12,429) | 13,388) | 12,939) | 12,825) | 12,390) | 13,315) | 12,687) | 12,234) | 10,871) | 11,357) | 12,248) | 12,344) | 10,357) | 11,243) | 10,594) | 6,313) | 10,104) | 10,326) | 10,660) | ||||||||
| Property, plant and equipment, net | 4,861) | 4,828) | 4,717) | 4,857) | 4,948) | 5,000) | 5,082) | 5,153) | 5,109) | 5,081) | 4,939) | 4,854) | 4,778) | 4,791) | 4,806) | 4,812) | 4,869) | 4,904) | 4,958) | 4,959) | 4,969) | 4,866) | 4,783) | 4,668) | 4,615) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 9.55 | 9.59 | 10.14 | 10.08 | 10.11 | 10.27 | 10.15 | 10.00 | 10.07 | 10.08 | 10.25 | 10.12 | 9.87 | 9.75 | 9.74 | 9.62 | 9.49 | 9.08 | 7.77 | 7.71 | 7.51 | 7.69 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| lululemon athletica inc. | 5.82 | 5.95 | 6.00 | 6.19 | 6.29 | 6.22 | 6.50 | 6.46 | 6.47 | 6.39 | 6.65 | 6.66 | 6.82 | 6.74 | 6.68 | 6.85 | 6.42 | 5.90 | 5.65 | 5.54 | 5.84 | 5.92 | — | — | — | ||||||||
Based on: 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).
1 Q1 2026 Calculation
Net fixed asset turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Property, plant and equipment, net
= (11,720 + 11,097 + 11,269 + 12,354)
÷ 4,861 = 9.55
2 Click competitor name to see calculations.
The financial data over the examined periods reveals several notable trends in revenues, property, plant and equipment net values, and net fixed asset turnover ratios.
- Revenues
- Revenues showed fluctuations throughout the periods, with a significant drop observed in May 2020, likely reflecting external disruptions. Following this decline, revenues rebounded strongly, reaching higher levels in most subsequent quarters, peaking around late 2022 and early 2023. However, from mid-2023 onward, revenues exhibited signs of moderation with some quarters showing decreases, indicating possible volatility or market challenges in recent periods.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment demonstrated a generally stable to slight upward trend until around mid-2022. Post this period, a downward trend is noticeable, indicating either asset disposals, depreciation exceeding new investments, or restructuring activities. The values decreased gradually from just above 5100 million US dollars to below 4900 million US dollars in the latest periods available.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures efficiency in using fixed assets to generate revenue, showed strong improvement starting from the earliest periods it was reported. The ratio increased notably from around 7.5 to values exceeding 10 from mid-2021 onward, suggesting enhanced operational efficiency or better asset utilization. Although the ratio maintained a mostly stable level above 10, a slight decline was observed in the most recent quarters, possibly related to changing revenue patterns or asset base fluctuations.
Overall, the data implies that after a sharp revenue dip in early 2020, the company experienced recovery and growth with stable asset investment before facing recent challenges reflected in revenue moderation and asset base reduction. The increasing and then stabilizing net fixed asset turnover ratios reflect improved asset efficiency with some early signs of tapering in the latest periods.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Nike Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | 11,720) | 11,097) | 11,269) | 12,354) | 11,589) | 12,606) | 12,429) | 13,388) | 12,939) | 12,825) | 12,390) | 13,315) | 12,687) | 12,234) | 10,871) | 11,357) | 12,248) | 12,344) | 10,357) | 11,243) | 10,594) | 6,313) | 10,104) | 10,326) | 10,660) | ||||||||
| Property, plant and equipment, net | 4,861) | 4,828) | 4,717) | 4,857) | 4,948) | 5,000) | 5,082) | 5,153) | 5,109) | 5,081) | 4,939) | 4,854) | 4,778) | 4,791) | 4,806) | 4,812) | 4,869) | 4,904) | 4,958) | 4,959) | 4,969) | 4,866) | 4,783) | 4,668) | 4,615) | ||||||||
| Operating lease right-of-use assets, net | 2,727) | 2,712) | 2,614) | 2,736) | 2,792) | 2,718) | 2,856) | 2,943) | 2,939) | 2,923) | 2,834) | 2,809) | 2,880) | 2,926) | 3,959) | 3,017) | 3,078) | 3,113) | 3,149) | 3,086) | 3,158) | 3,097) | 2,907) | 2,882) | 2,832) | ||||||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 7,588) | 7,540) | 7,331) | 7,593) | 7,740) | 7,718) | 7,938) | 8,096) | 8,048) | 8,004) | 7,773) | 7,663) | 7,658) | 7,717) | 8,765) | 7,829) | 7,947) | 8,017) | 8,107) | 8,045) | 8,127) | 7,963) | 7,690) | 7,550) | 7,447) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 6.12 | 6.14 | 6.52 | 6.45 | 6.46 | 6.65 | 6.50 | 6.37 | 6.40 | 6.40 | 6.51 | 6.41 | 6.16 | 6.05 | 5.34 | 5.91 | 5.81 | 5.56 | 4.75 | 4.76 | 4.59 | 4.70 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||||||||||
| lululemon athletica inc. | 3.17 | 3.31 | 3.33 | 3.42 | 3.48 | 3.42 | 3.73 | 3.61 | 3.68 | 3.62 | 3.61 | 3.66 | 3.70 | 3.61 | 3.52 | 3.60 | 3.33 | 2.97 | 2.84 | 2.72 | 2.77 | 2.92 | — | — | — | ||||||||
Based on: 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).
1 Q1 2026 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (11,720 + 11,097 + 11,269 + 12,354)
÷ 7,588 = 6.12
2 Click competitor name to see calculations.
The financial data reveals several notable trends in the quarterly performance over the analyzed period. Revenue figures show fluctuations, with a significant decline observed in the quarter ending May 31, 2020, likely an anomaly compared to previous quarters. Following this dip, revenue recovered strongly in the subsequent quarters, reaching new highs by the period ending November 30, 2022. However, after peaking, revenues exhibit a gentle downward trend, with some quarters showing slight decreases toward the end of the dataset.
In terms of property, plant, and equipment (net), the values generally increased steadily from August 2019 until early 2022, evidencing ongoing investments or capital expenditures. There is a notable peak around February 2022, followed by a period of decline and fluctuations. The asset base appears to slightly contract in the last few quarters, which could suggest asset disposals, impairments, or less capital expenditure.
The net fixed asset turnover ratio indicates how efficiently the company utilizes its fixed assets to generate revenue. This ratio was not provided for the earliest periods but starts appearing around May 2020. From that point, the ratio reveals improvements over time, rising from below 5 to consistently above 6 in later periods. This increase suggests enhanced asset utilization efficiency, with the company generating more revenue per unit of fixed asset over time. There are small fluctuations, but the general trend remains upward, indicating ongoing operational effectiveness despite fluctuations in asset base size.
- Revenues
- Significant dip in mid-2020 followed by recovery and peak levels by late 2022.
- Subsequent modest decline and fluctuations in recent quarters.
- Property, Plant, and Equipment, Net
- Steady increase through early 2022 with a peak around February 2022.
- Decline and fluctuations in asset base thereafter, possibly reflecting changes in investment strategy or asset impairments.
- Net Fixed Asset Turnover Ratio
- Unavailable in early periods, with data from mid-2020 showing progressive improvement.
- General upward trend from approximately 4.7 to over 6.5, indicating better asset utilization over time.
Total Asset Turnover
Nike Inc., total asset turnover calculation (quarterly data)
| Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | 11,720) | 11,097) | 11,269) | 12,354) | 11,589) | 12,606) | 12,429) | 13,388) | 12,939) | 12,825) | 12,390) | 13,315) | 12,687) | 12,234) | 10,871) | 11,357) | 12,248) | 12,344) | 10,357) | 11,243) | 10,594) | 6,313) | 10,104) | 10,326) | 10,660) | ||||||||
| Total assets | 37,334) | 36,579) | 37,793) | 37,959) | 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) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Total asset turnover1 | 1.24 | 1.27 | 1.27 | 1.29 | 1.32 | 1.35 | 1.38 | 1.39 | 1.40 | 1.36 | 1.32 | 1.24 | 1.15 | 1.16 | 1.18 | 1.19 | 1.22 | 1.18 | 1.06 | 1.10 | 1.12 | 1.19 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| lululemon athletica inc. | 1.45 | 1.39 | 1.44 | 1.48 | 1.44 | 1.36 | 1.53 | 1.47 | 1.53 | 1.45 | 1.41 | 1.44 | 1.41 | 1.27 | 1.28 | 1.25 | 1.15 | 1.05 | 1.12 | 1.11 | 1.20 | 1.21 | — | — | — | ||||||||
Based on: 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).
1 Q1 2026 Calculation
Total asset turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Total assets
= (11,720 + 11,097 + 11,269 + 12,354)
÷ 37,334 = 1.24
2 Click competitor name to see calculations.
The financial analysis over the presented quarterly periods reveals several notable trends in revenues, total assets, and total asset turnover.
- Revenues
- Revenues experienced volatility with an evident dip in the period ending May 31, 2020, likely impacted by external factors, before generally recovering and increasing through subsequent quarters. After this downturn, revenues showed a recovery trend, reaching peaks around August 2022 and November 2022, with values exceeding 13,000 million US dollars. However, later quarters show some fluctuations, including a decline toward mid-2025, indicating variability in sales performance or market conditions.
- Total Assets
- Total assets demonstrated a gradual overall increase from August 2019 through the first quarter of 2022, reaching above 40,000 million US dollars at times. However, from late 2022 onwards, total assets displayed a decreasing trend, dropping below 37,000 million US dollars around mid-2025. This decline suggests asset disposals, impairments, or changes in asset management strategy.
- Total Asset Turnover Ratio
- Data for total asset turnover is only available from the quarter ending May 2020. Starting at 1.19, the ratio initially declined to around 1.06 but then showed a positive and strengthening upward trend, peaking at approximately 1.40 by mid-2023. Following this peak, the turnover ratio has been slightly decreasing but remains relatively high above 1.20 through mid-2025. This signifies improved efficiency in using assets to generate revenues over time, with the company managing to generate more sales per unit of asset even as total assets fluctuated.
In summary, the company faced a temporary disturbance in revenues during early 2020 but generally managed to increase revenue levels subsequently. Meanwhile, total assets grew initially but later declined, contrasting with an improvement in asset turnover efficiency, suggesting a strategic focus on optimizing asset utilization despite changes in total asset base. The patterns indicate adaptive operational performance with some exposure to market or operational challenges reflected in revenue fluctuations and asset base adjustments.
Equity Turnover
Nike Inc., equity turnover calculation (quarterly data)
| Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | 11,720) | 11,097) | 11,269) | 12,354) | 11,589) | 12,606) | 12,429) | 13,388) | 12,939) | 12,825) | 12,390) | 13,315) | 12,687) | 12,234) | 10,871) | 11,357) | 12,248) | 12,344) | 10,357) | 11,243) | 10,594) | 6,313) | 10,104) | 10,326) | 10,660) | ||||||||
| Shareholders’ equity | 13,468) | 13,213) | 14,007) | 14,037) | 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) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Equity turnover1 | 3.45 | 3.50 | 3.41 | 3.49 | 3.59 | 3.56 | 3.63 | 3.64 | 3.68 | 3.66 | 3.48 | 3.22 | 2.98 | 3.06 | 3.16 | 3.10 | 3.22 | 3.49 | 3.23 | 3.60 | 4.05 | 4.64 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| lululemon athletica inc. | 2.51 | 2.45 | 2.55 | 2.48 | 2.33 | 2.27 | 2.61 | 2.50 | 2.56 | 2.58 | 2.46 | 2.47 | 2.49 | 2.28 | 2.20 | 2.07 | 1.89 | 1.72 | 1.88 | 1.93 | 2.10 | 2.04 | — | — | — | ||||||||
Based on: 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).
1 Q1 2026 Calculation
Equity turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Shareholders’ equity
= (11,720 + 11,097 + 11,269 + 12,354)
÷ 13,468 = 3.45
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several significant trends and patterns in Nike Inc.'s operational and financial performance over the observed periods.
- Revenues
-
Revenues exhibit notable fluctuations throughout the periods. Initially, revenues show a gradual decline from approximately 10,660 million USD to a low of 6,313 million USD in the May 31, 2020 quarter, reflecting a substantial dip likely influenced by external factors. Following this drop, revenues recover steadily, reaching a peak of roughly 13,388 million USD by November 30, 2023. From this peak, revenues again exhibit variability with a general slightly downward tendency towards the later quarters, ending around 11,720 million USD by August 31, 2025.
- Shareholders’ Equity
-
Shareholders’ equity demonstrates a consistent upward trend from 9,200 million USD in August 2019 to a peak of approximately 15,822 million USD by August 31, 2022. After this peak, equity levels decline gradually, moving down to about 13,468 million USD by August 31, 2025. This pattern suggests an overall improvement in equity base during the early part of the timeline, followed by a period of stabilization and mild decrease in later years.
- Equity Turnover Ratio
-
The equity turnover ratio, available from May 31, 2020, onwards, reveals a general downward trend in asset utilization efficiency relative to shareholders' equity in the initial years, starting from 4.64 and declining to 2.98 by August 31, 2022. After reaching this low point, the ratio experiences a gradual improvement, climbing back to about 3.68 by May 31, 2023. Subsequently, the metric stabilizes with minor fluctuations, fluctuating around 3.4 to 3.6 towards the most recent periods. This indicates a recovery in the efficiency of equity use for generating revenues following the earlier downturn.
In summary, the data depicts an initial contraction in revenues and operational efficiency correspondent with a market or economic downturn, followed by a recovery phase where revenues and equity turnover improved. Shareholders’ equity strengthened significantly during the initial recovery but later showed signs of slight erosion. The equity turnover ratio's decline and subsequent stabilization suggest initial challenges in leveraging equity effectively, later recuperated to a more stable operational state. These trends collectively illustrate resilience with periods of volatility impacting financial performance and capital efficiency.