NIKE (NKE) 10-K Summary — Year Ended May 31, 2025
NIKE, Inc. designs, develops, markets, and sells athletic footwear, apparel, and accessories worldwide. The company reported a decline in revenue and net income for the reported period, with operating cash flow also decreasing.
Key takeaway
Year ended May 31, 2025 · FY2025 10-K
NIKE, Inc. designs, develops, markets, and sells athletic footwear, apparel, and accessories worldwide. The company reported a decline in revenue and net income for the reported period, with operating cash flow also decreasing.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$46.3B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$3.2B
Net income reported for the year.
Operating cash flow
$3.7B
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, 2022 | $46.7B | +4.9% |
| May 31, 2023 | $51.2B | +9.6% |
| May 31, 2024 | $51.4B | +0.3% |
| May 31, 2025 | $46.3B | -9.8% |
Business overview
NIKE is a global leader in athletic footwear, apparel, and equipment. The company sells its products through a mix of retail stores, e-commerce, and wholesale channels. It also invests in product research, design, and development, and operates manufacturing and international trade activities.
Financial performance
Revenue for the reported period declined compared to the prior year. Net income also decreased. Operating cash flow was lower, driven by a reduction in net income and changes in working capital.
Material risks
The filing includes a section on risk factors, but no specific details are provided in the supplied context. The company faces various uncertainties common to its industry and global operations.
Liquidity and capital
Cash from operations decreased due to lower net income and working capital changes. The company used cash for share repurchases, a bond repayment, and dividend payments.
What to watch
Investors should monitor the trend in revenue and operating cash flow in the next filing.