Nike (NKE) FY2017 results: revenue $34.4 billion, up 6.1% on the year
Nike, Inc. (NKE) reported revenue of $34.4 billion for fiscal 2017, the year ended 31 May 2017, up 6.1% on the year before. Net income was $4.2 billion, up 12.8%, and diluted earnings per share $2.51. The figures are the company's own, from the 10-K it filed with the SEC on 23 July 2019.
Revenue
$34.4 billion
+6.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$4.2 billion
+12.8% on the year
FY2010FY2017
Diluted EPS
$2.51
+16.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
34,350
32,376
30,601
+6.1%
Cost of revenue
19,038
17,405
16,534
+9.4%
Gross profit
15,312
14,971
14,067
+2.3%
Gross margin
44.6%
46.2%
46.0%
Selling, general and administrative
10,563
10,469
9,892
+0.9%
Pre-tax income
4,886
4,623
4,205
+5.7%
Income tax
646
863
932
-25.1%
Effective tax rate
13.2%
18.7%
22.2%
Net income
4,240
3,760
3,273
+12.8%
Net margin
12.3%
11.6%
10.7%
Diluted EPS
$2.51
$2.16
$1.85
+16.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
3,846
3,399
4,680
+13.2%
Capital expenditure
1,105
1,143
963
-3.3%
Free cash flow
2,741
2,256
3,717
+21.5%
Free cash flow margin
8.0%
7.0%
12.1%
Cash from investing
-1,008
-1,034
-175
Cash from financing
-2,148
-2,974
-2,790
Share-based compensation
215
236
191
-8.9%
Buybacks
3,223
3,238
2,534
-0.5%
Dividends paid
1,133
1,022
899
+10.9%
Dividend per share
$0.70
$0.62
$0.54
+12.9%
Diluted shares, weighted
1,692m
1,742m
1,769m
-2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
12,407
12,258
12,707
+1.2%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
n/a
1.0
n/a
Debt
3,802
2,037
1,260
+86.6%
Other liabilities
7,050
7,100
7,633
-0.7%
Total liabilities and equity
23,259
21,396
21,600
+8.7%
Fixed assets
3,989
3,520
3,011
+13.3%
Goodwill
139
131
131
+6.1%
Intangible assets
283
281
281
+0.7%
Investments
2,371
2,319
2,072
+2.2%
Cash and equivalents
3,808
3,138
3,852
+21.4%
Receivables
3,677
3,241
3,358
+13.5%
Other assets
8,992
8,766
8,895
+2.6%
Total assets
23,259
21,396
21,600
+8.7%
10-K for the year ended 31 May 2017, filed 23 July 2019: the filing.