Analysis of Reportable Segments
Nike Inc. operates in 5 segments: North America; Europe, Middle East & Africa (EMEA); Greater China; Asia Pacific & Latin America (APLA); and Converse.
Segment Profit Margin
Nike Inc., profit margin by reportable segment
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 25.24% | 27.86% | 29.62% | 20.02% | 24.68% | 24.23% |
| Europe, Middle East & Africa (EMEA) | 26.32% | 26.39% | 21.26% | 16.49% | 20.33% | 17.17% |
| Greater China | 31.50% | 31.34% | 39.12% | 37.28% | 38.27% | 35.20% |
| Asia Pacific & Latin America (APLA) | 30.04% | 31.84% | 28.64% | 23.55% | 25.18% | 23.02% |
| Converse | 27.85% | 28.52% | 24.63% | 16.09% | 15.90% | 16.44% |
Based on: 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America | North America segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Greater China | Greater China segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Converse | Converse segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: North America
Nike Inc.; North America; segment profit margin calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 5,454) | 5,114) | 5,089) | 2,899) | 3,925) | 3,600) |
| Revenues | 21,608) | 18,353) | 17,179) | 14,484) | 15,902) | 14,855) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 25.24% | 27.86% | 29.62% | 20.02% | 24.68% | 24.23% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Earnings before interest and taxes ÷ Revenues
= 100 × 5,454 ÷ 21,608 = 25.24%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America | North America segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Europe, Middle East & Africa (EMEA)
Nike Inc.; Europe, Middle East & Africa (EMEA); segment profit margin calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 3,531) | 3,293) | 2,435) | 1,541) | 1,995) | 1,587) |
| Revenues | 13,418) | 12,479) | 11,456) | 9,347) | 9,812) | 9,242) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 26.32% | 26.39% | 21.26% | 16.49% | 20.33% | 17.17% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Earnings before interest and taxes ÷ Revenues
= 100 × 3,531 ÷ 13,418 = 26.32%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Greater China
Nike Inc.; Greater China; segment profit margin calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 2,283) | 2,365) | 3,243) | 2,490) | 2,376) | 1,807) |
| Revenues | 7,248) | 7,547) | 8,290) | 6,679) | 6,208) | 5,134) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 31.50% | 31.34% | 39.12% | 37.28% | 38.27% | 35.20% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Earnings before interest and taxes ÷ Revenues
= 100 × 2,283 ÷ 7,248 = 31.50%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Greater China | Greater China segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Asia Pacific & Latin America (APLA)
Nike Inc.; Asia Pacific & Latin America (APLA); segment profit margin calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 1,932) | 1,896) | 1,530) | 1,184) | 1,323) | 1,189) |
| Revenues | 6,431) | 5,955) | 5,343) | 5,028) | 5,254) | 5,166) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 30.04% | 31.84% | 28.64% | 23.55% | 25.18% | 23.02% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Earnings before interest and taxes ÷ Revenues
= 100 × 1,932 ÷ 6,431 = 30.04%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Profit Margin: Converse
Nike Inc.; Converse; segment profit margin calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 676) | 669) | 543) | 297) | 303) | 310) |
| Revenues | 2,427) | 2,346) | 2,205) | 1,846) | 1,906) | 1,886) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 27.85% | 28.52% | 24.63% | 16.09% | 15.90% | 16.44% |
Based on: 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).
1 2023 Calculation
Segment profit margin = 100 × Earnings before interest and taxes ÷ Revenues
= 100 × 676 ÷ 2,427 = 27.85%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Converse | Converse segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Nike Inc., ROA by reportable segment
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 686.90% | 800.31% | 824.80% | 449.46% | 482.19% | 424.53% |
| Europe, Middle East & Africa (EMEA) | 349.95% | 357.93% | 247.96% | 174.12% | 214.75% | 186.93% |
| Greater China | 781.85% | 780.53% | 1,126.04% | 1,163.55% | 1,002.53% | 705.86% |
| Asia Pacific & Latin America (APLA) | 692.47% | 691.97% | 503.29% | 400.00% | 405.83% | 350.74% |
| Converse | 1,778.95% | 1,365.31% | 861.90% | 371.25% | 303.00% | 269.57% |
Based on: 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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America | North America segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Greater China | Greater China segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. | |
| Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment ROA improved from 2021 to 2022 and from 2022 to 2023. | |
| Converse | Converse segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: North America
Nike Inc.; North America; segment ROA calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 5,454) | 5,114) | 5,089) | 2,899) | 3,925) | 3,600) |
| Property, plant and equipment, net | 794) | 639) | 617) | 645) | 814) | 848) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 686.90% | 800.31% | 824.80% | 449.46% | 482.19% | 424.53% |
Based on: 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).
1 2023 Calculation
Segment ROA = 100 × Earnings before interest and taxes ÷ Property, plant and equipment, net
= 100 × 5,454 ÷ 794 = 686.90%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | North America | North America segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Europe, Middle East & Africa (EMEA)
Nike Inc.; Europe, Middle East & Africa (EMEA); segment ROA calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 3,531) | 3,293) | 2,435) | 1,541) | 1,995) | 1,587) |
| Property, plant and equipment, net | 1,009) | 920) | 982) | 885) | 929) | 849) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 349.95% | 357.93% | 247.96% | 174.12% | 214.75% | 186.93% |
Based on: 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).
1 2023 Calculation
Segment ROA = 100 × Earnings before interest and taxes ÷ Property, plant and equipment, net
= 100 × 3,531 ÷ 1,009 = 349.95%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment ROA: Greater China
Nike Inc.; Greater China; segment ROA calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 2,283) | 2,365) | 3,243) | 2,490) | 2,376) | 1,807) |
| Property, plant and equipment, net | 292) | 303) | 288) | 214) | 237) | 256) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 781.85% | 780.53% | 1,126.04% | 1,163.55% | 1,002.53% | 705.86% |
Based on: 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).
1 2023 Calculation
Segment ROA = 100 × Earnings before interest and taxes ÷ Property, plant and equipment, net
= 100 × 2,283 ÷ 292 = 781.85%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Greater China | Greater China segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: Asia Pacific & Latin America (APLA)
Nike Inc.; Asia Pacific & Latin America (APLA); segment ROA calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 1,932) | 1,896) | 1,530) | 1,184) | 1,323) | 1,189) |
| Property, plant and equipment, net | 279) | 274) | 304) | 296) | 326) | 339) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 692.47% | 691.97% | 503.29% | 400.00% | 405.83% | 350.74% |
Based on: 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).
1 2023 Calculation
Segment ROA = 100 × Earnings before interest and taxes ÷ Property, plant and equipment, net
= 100 × 1,932 ÷ 279 = 692.47%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Converse
Nike Inc.; Converse; segment ROA calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Earnings before interest and taxes | 676) | 669) | 543) | 297) | 303) | 310) |
| Property, plant and equipment, net | 38) | 49) | 63) | 80) | 100) | 115) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 1,778.95% | 1,365.31% | 861.90% | 371.25% | 303.00% | 269.57% |
Based on: 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).
1 2023 Calculation
Segment ROA = 100 × Earnings before interest and taxes ÷ Property, plant and equipment, net
= 100 × 676 ÷ 38 = 1,778.95%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Converse | Converse segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
Nike Inc., asset turnover by reportable segment
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 27.21 | 28.72 | 27.84 | 22.46 | 19.54 | 17.52 |
| Europe, Middle East & Africa (EMEA) | 13.30 | 13.56 | 11.67 | 10.56 | 10.56 | 10.89 |
| Greater China | 24.82 | 24.91 | 28.78 | 31.21 | 26.19 | 20.05 |
| Asia Pacific & Latin America (APLA) | 23.05 | 21.73 | 17.58 | 16.99 | 16.12 | 15.24 |
| Converse | 63.87 | 47.88 | 35.00 | 23.08 | 19.06 | 16.40 |
Based on: 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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America | North America segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Greater China | Greater China segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Converse | Converse segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: North America
Nike Inc.; North America; segment asset turnover calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 21,608) | 18,353) | 17,179) | 14,484) | 15,902) | 14,855) |
| Property, plant and equipment, net | 794) | 639) | 617) | 645) | 814) | 848) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 27.21 | 28.72 | 27.84 | 22.46 | 19.54 | 17.52 |
Based on: 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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Property, plant and equipment, net
= 21,608 ÷ 794 = 27.21
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | North America | North America segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Europe, Middle East & Africa (EMEA)
Nike Inc.; Europe, Middle East & Africa (EMEA); segment asset turnover calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 13,418) | 12,479) | 11,456) | 9,347) | 9,812) | 9,242) |
| Property, plant and equipment, net | 1,009) | 920) | 982) | 885) | 929) | 849) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 13.30 | 13.56 | 11.67 | 10.56 | 10.56 | 10.89 |
Based on: 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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Property, plant and equipment, net
= 13,418 ÷ 1,009 = 13.30
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Asset Turnover: Greater China
Nike Inc.; Greater China; segment asset turnover calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 7,248) | 7,547) | 8,290) | 6,679) | 6,208) | 5,134) |
| Property, plant and equipment, net | 292) | 303) | 288) | 214) | 237) | 256) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 24.82 | 24.91 | 28.78 | 31.21 | 26.19 | 20.05 |
Based on: 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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Property, plant and equipment, net
= 7,248 ÷ 292 = 24.82
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Greater China | Greater China segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Asia Pacific & Latin America (APLA)
Nike Inc.; Asia Pacific & Latin America (APLA); segment asset turnover calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,431) | 5,955) | 5,343) | 5,028) | 5,254) | 5,166) |
| Property, plant and equipment, net | 279) | 274) | 304) | 296) | 326) | 339) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 23.05 | 21.73 | 17.58 | 16.99 | 16.12 | 15.24 |
Based on: 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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Property, plant and equipment, net
= 6,431 ÷ 279 = 23.05
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Converse
Nike Inc.; Converse; segment asset turnover calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 2,427) | 2,346) | 2,205) | 1,846) | 1,906) | 1,886) |
| Property, plant and equipment, net | 38) | 49) | 63) | 80) | 100) | 115) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 63.87 | 47.88 | 35.00 | 23.08 | 19.06 | 16.40 |
Based on: 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).
1 2023 Calculation
Segment asset turnover = Revenues ÷ Property, plant and equipment, net
= 2,427 ÷ 38 = 63.87
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Converse | Converse segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
Nike Inc., capital expenditures to depreciation by reportable segment
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 2.21 | 1.18 | 0.75 | 0.74 | 0.79 | 1.23 |
| Europe, Middle East & Africa (EMEA) | 1.79 | 1.47 | 1.13 | 1.05 | 2.10 | 2.07 |
| Greater China | 1.04 | 1.90 | 2.04 | 0.64 | 0.98 | 1.36 |
| Asia Pacific & Latin America (APLA) | 1.52 | 1.33 | 1.26 | 0.89 | 0.89 | 0.89 |
| Converse | 0.41 | 0.41 | 0.27 | 0.48 | 0.58 | 0.67 |
Based on: 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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America | North America segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Greater China | Greater China segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Converse | Converse segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: North America
Nike Inc.; North America; segment capital expenditures to depreciation calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Additions to property, plant and equipment | 283) | 146) | 98) | 110) | 117) | 196) |
| Depreciation | 128) | 124) | 130) | 148) | 149) | 160) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 2.21 | 1.18 | 0.75 | 0.74 | 0.79 | 1.23 |
Based on: 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).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation
= 283 ÷ 128 = 2.21
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North America | North America segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Europe, Middle East & Africa (EMEA)
Nike Inc.; Europe, Middle East & Africa (EMEA); segment capital expenditures to depreciation calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Additions to property, plant and equipment | 215) | 197) | 153) | 139) | 233) | 240) |
| Depreciation | 120) | 134) | 136) | 132) | 111) | 116) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.79 | 1.47 | 1.13 | 1.05 | 2.10 | 2.07 |
Based on: 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).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation
= 215 ÷ 120 = 1.79
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Europe, Middle East & Africa (EMEA) | Europe, Middle East & Africa (EMEA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Greater China
Nike Inc.; Greater China; segment capital expenditures to depreciation calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Additions to property, plant and equipment | 56) | 78) | 94) | 28) | 49) | 76) |
| Depreciation | 54) | 41) | 46) | 44) | 50) | 56) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.04 | 1.90 | 2.04 | 0.64 | 0.98 | 1.36 |
Based on: 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).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation
= 56 ÷ 54 = 1.04
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Greater China | Greater China segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Asia Pacific & Latin America (APLA)
Nike Inc.; Asia Pacific & Latin America (APLA); segment capital expenditures to depreciation calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Additions to property, plant and equipment | 64) | 56) | 54) | 41) | 47) | 49) |
| Depreciation | 42) | 42) | 43) | 46) | 53) | 55) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 1.52 | 1.33 | 1.26 | 0.89 | 0.89 | 0.89 |
Based on: 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).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation
= 64 ÷ 42 = 1.52
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Asia Pacific & Latin America (APLA) | Asia Pacific & Latin America (APLA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Converse
Nike Inc.; Converse; segment capital expenditures to depreciation calculation
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Additions to property, plant and equipment | 7) | 9) | 7) | 12) | 18) | 22) |
| Depreciation | 17) | 22) | 26) | 25) | 31) | 33) |
| Segment Financial Ratio | ||||||
| Segment capital expenditures to depreciation1 | 0.41 | 0.41 | 0.27 | 0.48 | 0.58 | 0.67 |
Based on: 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).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation
= 7 ÷ 17 = 0.41
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Converse | Converse segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Revenues
Nike Inc., revenues by reportable segment
US$ in millions
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 21,608) | 18,353) | 17,179) | 14,484) | 15,902) | 14,855) |
| Europe, Middle East & Africa (EMEA) | 13,418) | 12,479) | 11,456) | 9,347) | 9,812) | 9,242) |
| Greater China | 7,248) | 7,547) | 8,290) | 6,679) | 6,208) | 5,134) |
| Asia Pacific & Latin America (APLA) | 6,431) | 5,955) | 5,343) | 5,028) | 5,254) | 5,166) |
| Global Brand Divisions | 58) | 102) | 25) | 30) | 42) | 88) |
| NIKE Brand | 48,763) | 44,436) | 42,293) | 35,568) | 37,218) | 34,485) |
| Converse | 2,427) | 2,346) | 2,205) | 1,846) | 1,906) | 1,886) |
| Corporate | 27) | (72) | 40) | (11) | (7) | 26) |
| Total | 51,217) | 46,710) | 44,538) | 37,403) | 39,117) | 36,397) |
Based on: 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).
Earnings before interest and taxes
Nike Inc., earnings before interest and taxes by reportable segment
US$ in millions
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 5,454) | 5,114) | 5,089) | 2,899) | 3,925) | 3,600) |
| Europe, Middle East & Africa (EMEA) | 3,531) | 3,293) | 2,435) | 1,541) | 1,995) | 1,587) |
| Greater China | 2,283) | 2,365) | 3,243) | 2,490) | 2,376) | 1,807) |
| Asia Pacific & Latin America (APLA) | 1,932) | 1,896) | 1,530) | 1,184) | 1,323) | 1,189) |
| Global Brand Divisions | (4,841) | (4,262) | (3,656) | (3,468) | (3,262) | (2,658) |
| NIKE Brand | 8,359) | 8,406) | 8,641) | 4,646) | 6,357) | 5,525) |
| Converse | 676) | 669) | 543) | 297) | 303) | 310) |
| Corporate | (2,840) | (2,219) | (2,261) | (1,967) | (1,810) | (1,456) |
| Total | 6,195) | 6,856) | 6,923) | 2,976) | 4,850) | 4,379) |
Based on: 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).
Additions to property, plant and equipment
Nike Inc., additions to property, plant and equipment by reportable segment
US$ in millions
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 283) | 146) | 98) | 110) | 117) | 196) |
| Europe, Middle East & Africa (EMEA) | 215) | 197) | 153) | 139) | 233) | 240) |
| Greater China | 56) | 78) | 94) | 28) | 49) | 76) |
| Asia Pacific & Latin America (APLA) | 64) | 56) | 54) | 41) | 47) | 49) |
| Global Brand Divisions | 271) | 222) | 278) | 438) | 278) | 286) |
| NIKE Brand | 889) | 699) | 677) | 756) | 724) | 847) |
| Converse | 7) | 9) | 7) | 12) | 18) | 22) |
| Corporate | 140) | 103) | 107) | 356) | 333) | 325) |
| Total | 1,036) | 811) | 791) | 1,124) | 1,075) | 1,194) |
Based on: 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).
Depreciation
Nike Inc., depreciation by reportable segment
US$ in millions
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 128) | 124) | 130) | 148) | 149) | 160) |
| Europe, Middle East & Africa (EMEA) | 120) | 134) | 136) | 132) | 111) | 116) |
| Greater China | 54) | 41) | 46) | 44) | 50) | 56) |
| Asia Pacific & Latin America (APLA) | 42) | 42) | 43) | 46) | 53) | 55) |
| Global Brand Divisions | 211) | 220) | 222) | 214) | 195) | 217) |
| NIKE Brand | 555) | 561) | 577) | 584) | 558) | 604) |
| Converse | 17) | 22) | 26) | 25) | 31) | 33) |
| Corporate | 131) | 134) | 141) | 112) | 116) | 110) |
| Total | 703) | 717) | 744) | 721) | 705) | 747) |
Based on: 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).
Property, plant and equipment, net
Nike Inc., property, plant and equipment, net by reportable segment
US$ in millions
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | |
|---|---|---|---|---|---|---|
| North America | 794) | 639) | 617) | 645) | 814) | 848) |
| Europe, Middle East & Africa (EMEA) | 1,009) | 920) | 982) | 885) | 929) | 849) |
| Greater China | 292) | 303) | 288) | 214) | 237) | 256) |
| Asia Pacific & Latin America (APLA) | 279) | 274) | 304) | 296) | 326) | 339) |
| Global Brand Divisions | 840) | 789) | 780) | 830) | 665) | 597) |
| NIKE Brand | 3,214) | 2,925) | 2,971) | 2,870) | 2,971) | 2,889) |
| Converse | 38) | 49) | 63) | 80) | 100) | 115) |
| Corporate | 1,829) | 1,817) | 1,870) | 1,916) | 1,673) | 1,450) |
| Total | 5,081) | 4,791) | 4,904) | 4,866) | 4,744) | 4,454) |
Based on: 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).