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Nike Inc. (NKE)
Enterprise Value to FCFF (EV/FCFF)
Difficulty: Intermediate
Free Cash Flow to The Firm (FCFF)
Nike Inc., FCFF calculation
US$ in millions
Based on: 10-K (filing date: 2019-07-23), 10-K (filing date: 2018-07-25), 10-K (filing date: 2017-07-20), 10-K (filing date: 2016-07-21), 10-K (filing date: 2015-07-23), 10-K (filing date: 2014-07-25).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Nike Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Nike Inc.’s FCFF increased from 2017 to 2018 and from 2018 to 2019. |
Interest Paid, Net of Tax
Nike Inc., interest paid, net of tax calculation
US$ in millions
Based on: 10-K (filing date: 2019-07-23), 10-K (filing date: 2018-07-25), 10-K (filing date: 2017-07-20), 10-K (filing date: 2016-07-21), 10-K (filing date: 2015-07-23), 10-K (filing date: 2014-07-25).
2 2019 Calculation
Cash paid during the year for interest, net of capitalized interest, tax = Cash paid during the year for interest, net of capitalized interest × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Nike Inc., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Valuation Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Colgate-Palmolive Co. | |
| Estée Lauder Cos. Inc. | |
| Kimberly-Clark Corp. | |
| EV/FCFF, Sector | |
| Personal Goods | |
| EV/FCFF, Industry | |
| Consumer Goods | |
Based on: 10-K (filing date: 2019-07-23).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Nike Inc., historical EV/FCFF calculation, comparison to benchmarks
| May 31, 2019 | May 31, 2018 | May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | ||
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| EV/FCFF, Competitors4 | |||||||
| Colgate-Palmolive Co. | |
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| Estée Lauder Cos. Inc. | |
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| Kimberly-Clark Corp. | |
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| Personal Goods | |
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| EV/FCFF, Industry | |||||||
| Consumer Goods | |
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Based on: 10-K (filing date: 2019-07-23), 10-K (filing date: 2018-07-25), 10-K (filing date: 2017-07-20), 10-K (filing date: 2016-07-21), 10-K (filing date: 2015-07-23), 10-K (filing date: 2014-07-25).
3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Nike Inc.’s EV/FCFF ratio declined from 2017 to 2018 and from 2018 to 2019. |