Stock Analysis on Net

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Nike Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Turnover Ratios
Inventory turnover 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85 3.97 3.95 4.00 3.89
Receivables turnover 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16 8.51 8.77 8.61 10.41
Payables turnover 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29 9.32 8.27 8.95 8.97
Working capital turnover 3.30 3.26 3.21 3.07 2.85 2.63 2.67 2.58 2.53 2.55 2.68 2.44 2.60 2.80 3.05 5.53 5.03 4.88 4.52 4.55 4.60 4.24 4.00
Average No. Days
Average inventory processing period 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95 92 92 91 94
Add: Average receivable collection period 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40 43 42 42 35
Operating cycle 135 143 136 147 165 175 158 142 125 131 139 147 137 152 154 133 144 140 135 135 134 133 129
Less: Average payables payment period 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44 39 44 41 41
Cash conversion cycle 101 109 100 113 127 127 109 102 84 100 97 109 101 118 115 97 101 95 91 96 90 92 88

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Nike Inc. inventory turnover ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Nike Inc. receivables turnover ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Nike Inc. payables turnover ratio increased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Nike Inc. working capital turnover ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Nike Inc. number of days of inventory outstanding deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Nike Inc. operating cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Nike Inc. cash conversion cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 not reaching Q4 2023 level.

Inventory Turnover

Nike Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales 7,417 7,219 7,230 7,019 7,604 7,072 6,731 5,804 6,144 6,552 6,689 5,638 6,396 5,853 3,960 5,631 5,782 5,789 5,551 5,272 5,269 5,551 5,411 5,046 4,876 5,108
Inventories 7,979 8,698 8,454 8,905 9,326 9,662 8,420 7,700 6,506 6,699 6,854 6,693 6,090 6,705 7,367 5,807 6,199 5,835 5,622 5,415 5,388 5,227 5,261 5,366 5,326 5,211
Short-term Activity Ratio
Inventory turnover1 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85 3.97 3.95 4.00 3.89
Benchmarks
Inventory Turnover, Competitors2
Deckers Outdoor Corp. 2.57 2.45 3.38 2.47 1.86 1.93 3.04 2.59 2.08 2.79 4.21 3.57 2.19 2.35 3.30 2.84 1.81 2.09 3.52 2.92 1.90 2.27 3.24
lululemon athletica inc. 2.30 2.36 2.50 1.88 2.10 2.25 2.74 2.62 2.96 2.93 2.99 2.34 2.57 2.74 3.39 2.66 3.23 3.45 3.64

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Inventory turnover = (Cost of salesQ2 2024 + Cost of salesQ1 2024 + Cost of salesQ4 2023 + Cost of salesQ3 2023) ÷ Inventories
= (7,417 + 7,219 + 7,230 + 7,019) ÷ 7,979 = 3.62

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Nike Inc. inventory turnover ratio deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.

Receivables Turnover

Nike Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data (US$ in millions)
Revenues 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 10,184 9,611 9,374 9,948 9,789 8,984 8,554 9,070
Accounts receivable, net 4,782 4,749 4,131 4,513 5,437 4,960 4,667 3,827 3,746 4,341 4,463 3,669 3,713 3,813 2,749 4,473 4,792 4,656 4,272 4,549 4,346 4,330 3,498 3,792 3,613 3,871
Short-term Activity Ratio
Receivables turnover1 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16 8.51 8.77 8.61 10.41
Benchmarks
Receivables Turnover, Competitors2
Deckers Outdoor Corp. 8.01 13.60 12.03 10.94 7.85 10.12 10.41 8.89 7.74 12.65 11.80 7.54 6.81 15.82 11.49 7.50 6.24 12.82 11.31 7.27 6.10 14.74 13.24
lululemon athletica inc. 83.21 79.07 61.02 77.64 86.34 84.75 81.25 77.74 98.38 87.37 70.54 68.09 79.08 79.06 98.94 104.89 129.46 170.15 91.89

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Receivables turnover = (RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023) ÷ Accounts receivable, net
= (13,388 + 12,939 + 12,825 + 12,390) ÷ 4,782 = 10.78

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Nike Inc. receivables turnover ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Payables Turnover

Nike Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales 7,417 7,219 7,230 7,019 7,604 7,072 6,731 5,804 6,144 6,552 6,689 5,638 6,396 5,853 3,960 5,631 5,782 5,789 5,551 5,272 5,269 5,551 5,411 5,046 4,876 5,108
Accounts payable 2,709 2,738 2,862 2,675 2,810 3,371 3,358 2,770 2,795 2,135 2,836 2,257 2,154 1,983 2,248 2,221 2,627 2,716 2,612 2,307 2,574 2,333 2,279 1,961 2,141 2,116
Short-term Activity Ratio
Payables turnover1 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29 9.32 8.27 8.95 8.97
Benchmarks
Payables Turnover, Competitors2
Deckers Outdoor Corp. 3.91 3.46 6.78 3.66 3.56 2.68 4.71 2.96 2.67 3.24 5.06 3.60 3.38 4.03 6.96 4.24 3.22 3.30 7.84 4.37 3.53 3.76 10.34
lululemon athletica inc. 12.79 12.96 20.95 10.86 11.81 9.30 9.14 10.89 11.50 10.90 11.25 11.24 14.08 21.70 21.95 14.35 14.46 17.31 15.41

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Payables turnover = (Cost of salesQ2 2024 + Cost of salesQ1 2024 + Cost of salesQ4 2023 + Cost of salesQ3 2023) ÷ Accounts payable
= (7,417 + 7,219 + 7,230 + 7,019) ÷ 2,709 = 10.66

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Nike Inc. payables turnover ratio increased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Working Capital Turnover

Nike Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data (US$ in millions)
Current assets 24,631 24,250 25,202 26,035 27,447 28,877 28,213 26,962 27,177 26,390 26,291 24,700 23,607 21,937 20,556 15,744 16,369 16,228 16,525 15,796 15,566 15,501 15,134 15,355 16,582 16,192
Less: Current liabilities 8,999 8,461 9,256 9,548 10,199 10,919 10,730 8,818 8,857 8,269 9,674 8,894 8,871 8,619 8,284 8,280 8,264 8,070 7,866 7,281 7,278 6,708 6,040 5,783 6,750 6,056
Working capital 15,632 15,789 15,946 16,487 17,248 17,958 17,483 18,144 18,320 18,121 16,617 15,806 14,736 13,318 12,272 7,464 8,105 8,158 8,659 8,515 8,288 8,793 9,094 9,572 9,832 10,136
 
Revenues 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 10,184 9,611 9,374 9,948 9,789 8,984 8,554 9,070
Short-term Activity Ratio
Working capital turnover1 3.30 3.26 3.21 3.07 2.85 2.63 2.67 2.58 2.53 2.55 2.68 2.44 2.60 2.80 3.05 5.53 5.03 4.88 4.52 4.55 4.60 4.24 4.00
Benchmarks
Working Capital Turnover, Competitors2
Deckers Outdoor Corp. 2.75 2.56 2.57 2.50 2.88 2.83 2.60 2.35 2.47 2.46 2.15 1.84 2.23 2.39 2.39 2.45 3.12 2.74 2.39 2.50 3.12 2.84 2.64
lululemon athletica inc. 4.56 4.73 4.86 5.69 5.98 6.06 5.17 4.91 4.27 3.86 3.55 4.68 5.33 3.62 3.35 4.28 4.59 5.12 3.54

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Working capital turnover = (RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023 + RevenuesQ3 2023) ÷ Working capital
= (13,388 + 12,939 + 12,825 + 12,390) ÷ 15,632 = 3.30

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Nike Inc. working capital turnover ratio improved from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Average Inventory Processing Period

Nike Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data
Inventory turnover 3.62 3.34 3.42 3.19 2.92 2.67 3.00 3.27 3.85 3.77 3.59 3.26 3.59 3.17 2.87 3.92 3.61 3.75 3.85 3.97 3.95 4.00 3.89
Short-term Activity Ratio (no. days)
Average inventory processing period1 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95 92 92 91 94
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Deckers Outdoor Corp. 142 149 108 148 197 189 120 141 175 131 87 102 167 155 111 129 202 174 104 125 192 161 113
lululemon athletica inc. 159 155 146 195 174 162 133 139 123 125 122 156 142 133 108 137 113 106 100

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.62 = 101

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Nike Inc. number of days of inventory outstanding deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.

Average Receivable Collection Period

Nike Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data
Receivables turnover 10.78 10.84 12.40 11.22 9.03 9.51 10.01 12.23 12.36 10.64 9.98 10.50 10.30 9.79 13.61 9.23 8.51 8.55 9.16 8.51 8.77 8.61 10.41
Short-term Activity Ratio (no. days)
Average receivable collection period1 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40 43 42 42 35
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Deckers Outdoor Corp. 46 27 30 33 46 36 35 41 47 29 31 48 54 23 32 49 59 28 32 50 60 25 28
lululemon athletica inc. 4 5 6 5 4 4 4 5 4 4 5 5 5 5 4 3 3 2 4

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.78 = 34

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Nike Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data
Average inventory processing period 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95 92 92 91 94
Average receivable collection period 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40 43 42 42 35
Short-term Activity Ratio
Operating cycle1 135 143 136 147 165 175 158 142 125 131 139 147 137 152 154 133 144 140 135 135 134 133 129
Benchmarks
Operating Cycle, Competitors2
Deckers Outdoor Corp. 188 176 138 181 243 225 155 182 222 160 118 150 221 178 143 178 261 202 136 175 252 186 141
lululemon athletica inc. 163 160 152 200 178 166 137 144 127 129 127 161 147 138 112 140 116 108 104

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 101 + 34 = 135

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Nike Inc. operating cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 exceeding Q4 2023 level.

Average Payables Payment Period

Nike Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data
Payables turnover 10.66 10.62 10.11 10.63 9.68 7.64 7.51 9.09 8.95 11.84 8.67 9.68 10.14 10.70 9.41 10.24 8.52 8.06 8.29 9.32 8.27 8.95 8.97
Short-term Activity Ratio (no. days)
Average payables payment period1 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44 39 44 41 41
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Deckers Outdoor Corp. 93 105 54 100 103 136 77 123 137 113 72 101 108 90 52 86 113 110 47 84 103 97 35
lululemon athletica inc. 29 28 17 34 31 39 40 34 32 33 32 32 26 17 17 25 25 21 24

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 10.66 = 34

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.

Cash Conversion Cycle

Nike Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017
Selected Financial Data
Average inventory processing period 101 109 107 114 125 137 122 112 95 97 102 112 102 115 127 93 101 97 95 92 92 91 94
Average receivable collection period 34 34 29 33 40 38 36 30 30 34 37 35 35 37 27 40 43 43 40 43 42 42 35
Average payables payment period 34 34 36 34 38 48 49 40 41 31 42 38 36 34 39 36 43 45 44 39 44 41 41
Short-term Activity Ratio
Cash conversion cycle1 101 109 100 113 127 127 109 102 84 100 97 109 101 118 115 97 101 95 91 96 90 92 88
Benchmarks
Cash Conversion Cycle, Competitors2
Deckers Outdoor Corp. 95 71 84 81 140 89 78 59 85 47 46 49 113 88 91 92 148 92 89 91 149 89 106
lululemon athletica inc. 134 132 135 166 147 127 97 110 95 96 95 129 121 121 95 115 91 87 80

Based on: 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), 10-K (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31).

1 Q2 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 101 + 3434 = 101

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Nike Inc. cash conversion cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 not reaching Q4 2023 level.