Enterprise Value (EV)
Current Enterprise Value (EV)
Nike Inc., current enterprise value calculation
| Current share price (P) | $74.62 |
| No. shares of common stock outstanding | 98,259,025,196 |
| US$ in millions | |
| Common equity (market value)1 | 7,332,088) |
| Total equity | 7,332,088) |
| Add: Current portion of long-term debt (per books) | —) |
| Add: Notes payable (per books) | 5) |
| Add: Long-term debt, excluding current portion (per books) | 7,961) |
| Total equity and debt | 7,340,054) |
| Less: Cash and equivalents | 7,464) |
| Less: Short-term investments | 1,687) |
| Enterprise value (EV) | 7,330,903) |
Based on: 10-K (reporting date: 2025-05-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 74.62 × 98,259,025,196
Historical Enterprise Value (EV)
Nike Inc., EV calculation
Based on: 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Nike Inc. Annual Report.
3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 72.98 × 98,259,025,196
- Equity Trends
- The market value of common equity exhibited considerable fluctuations over the observed period. It increased significantly from US$153,540 million in May 2020 to a peak of US$252,677 million in May 2021. Subsequently, it declined steadily to US$107,069 million by May 2024. However, an extraordinary surge occurred in May 2025, with the value reaching US$7,170,944 million, representing a remarkable rise compared to all prior periods.
- Total Equity Analysis
- The total equity mirrored the trend observed in the common equity market value, following identical values and patterns throughout the timeline. This alignment indicates that the common equity constitutes the majority, if not all, of the total equity recorded in these periods.
- Total Equity and Debt Evaluation
- The aggregate of total equity and debt followed a similar trajectory as total equity, escalating from US$163,197 million in May 2020 to US$262,092 million in May 2021, then diminishing to US$115,978 million by May 2024. The year ending May 2025 saw a sudden and dramatic increase to US$7,178,910 million. This pattern suggests a major structural or financial event impacting the company's capital structure.
- Enterprise Value (EV) Insights
- Enterprise value closely tracked the movements of total equity and total equity plus debt throughout the five-year span. Beginning at US$154,410 million in May 2020, it rose to US$248,616 million in May 2021, then decreased in subsequent years to reach a low of US$104,396 million by May 2024. A pronounced increase to US$7,169,759 million in May 2025 was observed, aligning with the notable equity changes previously discussed.
- Overall Observations
- The data reveals stability and growth in the initial years, followed by a decline in values from 2021 through 2024, before a significant and unprecedented escalation in 2025. This pattern could indicate a major corporate event such as restructuring, revaluation, acquisition, or market re-rating occurring in the final year. The parallel movement across all measured financial indicators suggests that the underlying cause influenced the company’s overall valuation and capital composition comprehensively.