NIKE (NKE) 10-K Summary — Year Ended May 31, 2024
NIKE, Inc. designs, markets, and sells athletic footwear, apparel, and equipment. In the latest fiscal year, the company reported a slight increase in revenue, stable net income, and improved operating cash flow.
Key takeaway
Year ended May 31, 2024 · FY2025 10-K
NIKE, Inc. designs, markets, and sells athletic footwear, apparel, and equipment. In the latest fiscal year, the company reported a slight increase in revenue, stable net income, and improved operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$51.4B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$5.7B
Net income reported for the year.
Operating cash flow
$7.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2021 | $44.5B | n/a |
| May 31, 2022 | $46.7B | +4.9% |
| May 31, 2023 | $51.2B | +9.6% |
| May 31, 2024 | $51.4B | +0.3% |
Business overview
The company's business includes the design, production, and sale of athletic footwear, apparel, and equipment. Products are distributed through retail and digital channels across global markets. The company also holds significant trademarks and patents.
Financial performance
Revenue for the recent fiscal year increased modestly from the prior period, while net income remained healthy. Operating cash flow improved significantly, aided by better inventory management and working capital changes.
Material risks
The company identifies a range of risk factors, including macroeconomic conditions, competitive pressures, supply chain disruptions, and foreign exchange fluctuations. These risks could affect business operations and financial results.
Liquidity and capital
Operating cash flow strengthened, and investing activities generated net inflows from changes in short-term investments. Financing outflows decreased, driven by lower share repurchases.
What to watch
Monitor the company's ongoing inventory management and accounts receivable collection, as these are key drivers of operating cash flow.