15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 4.4% per year over the past 5 years.
Net income has grown in line with revenue (4.9% vs 4.4% per year).
Free cash flow has grown 18.5% per year over the past 5 years.
Financial health
Total debt ($8.0B) exceeds cash ($7.5B); net debt is $502M.
Total debt has grown slower than revenue (-3.8% vs 4.4% per year).
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 71.5% of earnings and 70.4% of free cash flow.
The dividend has grown 9.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$46.3B
$3.2B
42.7%
0.0%
$3.3B
$8.0B
$7.5B
2024
$51.4B
$5.7B
44.6%
0.0%
$6.6B
$8.9B
$9.9B
2023
$51.2B
$5.1B
43.5%
0.0%
$4.9B
$8.9B
$7.4B
2022
$46.7B
$6.0B
46.0%
0.0%
$4.4B
$9.4B
$8.6B
2021
$44.5B
$5.7B
44.8%
0.0%
$6.0B
$9.4B
$9.9B
2020
$37.4B
$2.5B
43.4%
0.0%
$1.4B
$9.7B
$8.3B
2019
$39.1B
$4.0B
44.7%
0.0%
$4.8B
$3.5B
$4.5B
2018
$36.4B
$1.9B
43.8%
0.0%
$3.9B
$3.8B
$4.2B
2017
$34.4B
$4.2B
44.6%
0.0%
$2.7B
$3.8B
$3.8B
2016
—
$3.8B
—
—
$2.3B
$2.0B
$3.1B
2015
—
$3.3B
—
—
$3.7B
$1.3B
$3.9B
2014
—
$2.7B
—
—
$2.1B
$1.4B
$2.2B
2013
—
$2.5B
—
—
$2.4B
$1.4B
$3.3B
2012
—
$2.2B
—
—
$1.4B
$385M
$2.3B
2011
—
$2.1B
—
—
$1.4B
$663M
$1.9B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Feb '26
$11.3B
$520M
40.2%
0.0%
$284M
$8.0B
$6.7B
Nov '25
$12.4B
$792M
40.6%
0.0%
$386M
$8.0B
$7.0B
Aug '25
$11.7B
$727M
42.2%
0.0%
$15M
$8.0B
$7.0B
May '25
$11.1B
$211M
40.3%
0.0%
$363M
$8.0B
$7.5B
Feb '25
$11.3B
$794M
41.5%
0.0%
$1.7B
$9.0B
$8.6B
Nov '24
$12.4B
$1.2B
43.6%
0.0%
$920M
$9.0B
$8.0B
Aug '24
$11.6B
$1.1B
45.4%
0.0%
$274M
$9.0B
$8.5B
May '24
$12.6B
$1.5B
44.7%
0.0%
$2.4B
$8.9B
$9.9B
Feb '24
$12.4B
$1.2B
44.8%
0.0%
$1.9B
$8.9B
$9.0B
Nov '23
$13.4B
$1.6B
44.6%
0.0%
$2.6B
$8.9B
$7.9B
Aug '23
$12.9B
$1.4B
44.2%
0.0%
-$319M
$8.9B
$6.2B
May '23
$12.8B
$1.0B
43.6%
0.0%
$2.0B
$8.9B
$7.4B
Feb '23
$12.4B
$1.2B
43.3%
0.0%
$2.0B
$9.4B
$7.0B
Nov '22
$13.3B
$1.3B
42.9%
0.0%
$765M
$9.4B
$6.5B
Aug '22
$12.7B
$1.5B
44.3%
0.0%
$93M
$9.4B
$7.2B
May '22
$12.2B
$1.4B
45.0%
0.0%
$909M
$9.4B
$8.6B
Feb '22
$10.9B
$1.4B
46.6%
0.0%
$15M
$9.4B
$8.7B
Nov '21
$11.4B
$1.3B
45.9%
0.0%
$2.6B
$9.4B
$10.8B
Aug '21
$12.2B
$1.9B
46.5%
0.0%
$927M
$9.4B
$10.7B
May '21
$12.3B
$1.5B
45.8%
0.0%
$1.8B
$9.4B
$9.9B
Valuation over time
How the market has priced NKE against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 30.0× (Mar '23) to 18.8× (Jun '26).
The price-to-sales ratio has fallen from 3.9× (Mar '23) to 1.3× (Jun '26).
The dividend yield has risen from 1.0% (Mar '23) to 3.8% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is NKE growing its revenue and profit?
Over the past 5 years, Nike's revenue has grown 4.4% per year, and net income grown 4.9% per year. These are computed facts, not advice.
How much debt does NKE have?
As of FY2025, Nike reported $8.0B of total debt against $7.5B of cash.
What is NKE's profit margin?
In FY2025, gross margin was 42.7%, operating margin —, and net margin 7.0%.
What is NKE's P/E ratio?
As of Jun '26, Nike traded at a price-to-earnings ratio of about 18.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.