Nike (NKE) FY2012 results: revenue $23.3 billion, up 16.0% on the year
Nike, Inc. (NKE) reported revenue of $23.3 billion for fiscal 2012, the year ended 31 May 2012, up 16.0% on the year before. Net income was $2.2 billion, up 3.7%, and diluted earnings per share $1.18. The figures are the company's own, from the 10-K it filed with the SEC on 24 July 2012.
Revenue
$23.3 billion
+16.0% on the year
FY2008FY2012
Operating margin
n/a
FY2008FY2012
Net income
$2.2 billion
+3.7% on the year
FY2008FY2012
Diluted EPS
$1.18
+7.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
23,331
20,117
19,014
+16.0%
Cost of revenue
13,183
11,354
10,214
+16.1%
Gross profit
10,148
9,202
8,800
+10.3%
Gross margin
43.5%
45.7%
46.3%
Selling, general and administrative
7,079
6,361
6,326
+11.3%
Pre-tax income
3,011
2,862
2,517
+5.2%
Income tax
754
690
610
+9.3%
Effective tax rate
25.0%
24.1%
24.2%
Net income
2,211
2,133
1,907
+3.7%
Net margin
9.5%
10.6%
10.0%
Diluted EPS
$1.18
$1.10
$0.96
+7.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,824
1,812
3,164
+0.7%
Capital expenditure
563
432
335
+30.3%
Free cash flow
1,261
1,380
2,829
-8.6%
Free cash flow margin
5.4%
6.9%
14.9%
Cash from investing
586
-1,021
-1,268
Cash from financing
-2,100
-1,972
-1,061
Depreciation and amortisation
387
348
n/a
+11.2%
Share-based compensation
130
105
159
+23.8%
Buybacks
1,814
1,859
741
-2.4%
Dividends paid
619
555
505
+11.5%
Dividend per share
$0.69
$0.30
$0.27
+131.7%
Diluted shares, weighted
1,879m
1,943m
1,976m
-3.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
10,319
9,793
9,754
+5.4%
Redeemable equity
0.0
n/a
n/a
Debt
385
663
592
-41.9%
Other liabilities
4,761
4,542
4,074
+4.8%
Total liabilities and equity
15,465
14,998
14,419
+3.1%
Fixed assets
2,209
2,115
1,932
+4.4%
Goodwill
131
205
188
-36.1%
Intangible assets
370
487
467
-24.0%
Investments
1,440
2,583
2,067
-44.3%
Cash and equivalents
2,254
1,877
3,079
+20.1%
Receivables
3,132
3,138
2,650
-0.2%
Inventory
n/a
2,715
2,041
Other assets
5,929
1,878
1,996
+215.7%
Total assets
15,465
14,998
14,419
+3.1%
10-K for the year ended 31 May 2012, filed 24 July 2012: the filing.