Nike (NKE) FY2018 results: revenue $36.4 billion, up 6.0% on the year
Nike, Inc. (NKE) reported revenue of $36.4 billion for fiscal 2018, the year ended 31 May 2018, up 6.0% on the year before. Net income was $1.9 billion, down 54.4%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 23 July 2019.
Revenue
$36.4 billion
+6.0% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$1.9 billion
-54.4% on the year
FY2011FY2018
Diluted EPS
$1.17
-53.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
36,397
34,350
32,376
+6.0%
Cost of revenue
20,441
19,038
17,405
+7.4%
Gross profit
15,956
15,312
14,971
+4.2%
Gross margin
43.8%
44.6%
46.2%
Selling, general and administrative
11,511
10,563
10,469
+9.0%
Pre-tax income
4,325
4,886
4,623
-11.5%
Income tax
2,392
646
863
+270.3%
Effective tax rate
55.3%
13.2%
18.7%
Net income
1,933
4,240
3,760
-54.4%
Net margin
5.3%
12.3%
11.6%
Diluted EPS
$1.17
$2.51
$2.16
-53.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
4,955
3,846
3,399
+28.8%
Capital expenditure
1,028
1,105
1,143
-7.0%
Free cash flow
3,927
2,741
2,256
+43.3%
Free cash flow margin
10.8%
8.0%
7.0%
Cash from investing
276
-1,008
-1,034
Cash from financing
-4,835
-2,148
-2,974
Share-based compensation
218
215
236
+1.4%
Buybacks
4,254
3,223
3,238
+32.0%
Dividends paid
1,243
1,133
1,022
+9.7%
Dividend per share
$0.78
$0.70
$0.62
+11.4%
Diluted shares, weighted
1,659m
1,692m
1,742m
-1.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
9,812
12,407
12,258
-20.9%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
n/a
n/a
1.0
Debt
3,810
3,802
2,037
+0.2%
Other liabilities
8,914
7,050
7,100
+26.4%
Total liabilities and equity
22,536
23,259
21,396
-3.1%
Fixed assets
4,454
3,989
3,520
+11.7%
Goodwill
154
139
131
+10.8%
Intangible assets
285
283
281
+0.7%
Investments
996
2,371
2,319
-58.0%
Cash and equivalents
4,249
3,808
3,138
+11.6%
Receivables
3,498
3,677
3,241
-4.9%
Other assets
8,900
8,992
8,766
-1.0%
Total assets
22,536
23,259
21,396
-3.1%
10-K for the year ended 31 May 2018, filed 23 July 2019: the filing.