Stock Analysis on Net
Stock Analysis on Net

Nike Inc. (NYSE:NKE)

Enterprise Value (EV)

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Current Enterprise Value (EV)

Nike Inc., current enterprise value calculation

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Current share price (P) $157.91
No. shares of common stock outstanding 1,581,801,224
US$ in millions
Common equity (market value)1 249,782 
Total equity 249,782 
Add: Current portion of long-term debt (per books) — 
Add: Notes payable (per books)
Add: Long-term debt, excluding current portion (per books) 9,413 
Total equity and debt 259,197 
Less: Cash and equivalents 9,889 
Less: Short-term investments 3,587 
Enterprise value (EV) 245,721 

Based on: 10-K (filing date: 2021-07-20).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 157.91 × 1,581,801,224


Historical Enterprise Value (EV)

Nike Inc., EV calculation

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May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Share price1, 2 $159.74 $98.43 $86.70 $77.16 $59.10 $56.99
No. shares of common stock outstanding1 1,581,801,224 1,559,888,549 1,566,888,373 1,600,554,538 1,643,195,065 1,677,618,635
US$ in millions
Common equity (market value)3 252,677  153,540  135,849  123,499  97,113  95,607 
Total equity 252,677  153,540  135,849  123,499  97,113  95,607 
Add: Current portion of long-term debt (book value) —  44 
Add: Notes payable (book value) 248  336  325 
Add: Long-term debt, excluding current portion (book value) 9,413  9,406  3,464  3,468  3,471  2,010 
Total equity and debt 262,092  163,197  139,328  127,309  100,915  97,662 
Less: Cash and equivalents 9,889  8,348  4,466  4,249  3,808  3,138 
Less: Short-term investments 3,587  439  197  996  2,371  2,319 
Enterprise value (EV) 248,616  154,410  134,665  122,064  94,736  92,205 

Based on: 10-K (filing date: 2021-07-20), 10-K (filing date: 2020-07-24), 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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Nike Inc.’s Annual Report.

3 2021 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 159.74 × 1,581,801,224

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Nike Inc.’s EV increased from 2019 to 2020 and from 2020 to 2021.