Nike (NKE) FY2013 results: revenue $25.3 billion, up 8.5% on the year
Nike, Inc. (NKE) reported revenue of $25.3 billion for fiscal 2013, the year ended 31 May 2013, up 8.5% on the year before. Net income was $2.5 billion, up 11.8%, and diluted earnings per share $1.35. The figures are the company's own, from the 10-K it filed with the SEC on 23 July 2013.
Revenue
$25.3 billion
+8.5% on the year
FY2008FY2013
Operating margin
n/a
FY2008FY2013
Net income
$2.5 billion
+11.8% on the year
FY2008FY2013
Diluted EPS
$1.35
+15.3% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
25,313
23,331
20,117
+8.5%
Cost of revenue
14,279
13,183
11,354
+8.3%
Gross profit
11,034
10,148
9,202
+8.7%
Gross margin
43.6%
43.5%
45.7%
Selling, general and administrative
7,796
7,079
6,361
+10.1%
Pre-tax income
3,256
3,011
2,862
+8.1%
Income tax
805
754
690
+6.8%
Effective tax rate
24.7%
25.0%
24.1%
Net income
2,472
2,211
2,133
+11.8%
Net margin
9.8%
9.5%
10.6%
Diluted EPS
$1.35
$1.18
$1.10
+15.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,027
1,824
1,812
+66.0%
Capital expenditure
598
563
432
+6.2%
Free cash flow
2,429
1,261
1,380
+92.6%
Free cash flow margin
9.6%
5.4%
6.9%
Cash from investing
-940
586
-1,021
Cash from financing
-1,045
-2,100
-1,972
Depreciation and amortisation
452
387
348
+16.8%
Share-based compensation
174
130
105
+33.8%
Buybacks
1,674
1,814
1,859
-7.7%
Dividends paid
703
619
555
+13.6%
Dividend per share
$0.41
$0.69
$0.30
-41.7%
Diluted shares, weighted
1,833m
1,879m
1,943m
-2.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
11,081
10,319
9,793
+7.4%
Redeemable equity
0.0
0.0
n/a
Debt
1,365
385
663
+254.5%
Other liabilities
5,099
4,761
4,542
+7.1%
Total liabilities and equity
17,545
15,465
14,998
+13.4%
Fixed assets
2,452
2,209
2,115
+11.0%
Goodwill
131
131
205
0.0%
Intangible assets
289
370
487
-21.9%
Investments
2,628
1,440
2,583
+82.5%
Cash and equivalents
3,337
2,254
1,877
+48.0%
Receivables
3,117
3,132
3,138
-0.5%
Inventory
n/a
n/a
2,715
Other assets
5,591
5,929
1,878
-5.7%
Total assets
17,545
15,465
14,998
+13.4%
10-K for the year ended 31 May 2013, filed 23 July 2013: the filing.