Nike (NKE) FY2019 results: revenue $39.1 billion, up 7.5% on the year
Nike, Inc. (NKE) reported revenue of $39.1 billion for fiscal 2019, the year ended 31 May 2019, up 7.5% on the year before. Net income was $4.0 billion, up 108.4%, and diluted earnings per share $2.49. The figures are the company's own, from the 10-K it filed with the SEC on 23 July 2019.
Revenue
$39.1 billion
+7.5% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$4.0 billion
+108.4% on the year
FY2012FY2019
Diluted EPS
$2.49
+112.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
39,117
36,397
34,350
+7.5%
Cost of revenue
21,643
20,441
19,038
+5.9%
Gross profit
17,474
15,956
15,312
+9.5%
Gross margin
44.7%
43.8%
44.6%
Selling, general and administrative
12,702
11,511
10,563
+10.3%
Pre-tax income
4,801
4,325
4,886
+11.0%
Income tax
772
2,392
646
-67.7%
Effective tax rate
16.1%
55.3%
13.2%
Net income
4,029
1,933
4,240
+108.4%
Net margin
10.3%
5.3%
12.3%
Diluted EPS
$2.49
$1.17
$2.51
+112.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,903
4,955
3,846
+19.1%
Capital expenditure
1,119
1,028
1,105
+8.9%
Free cash flow
4,784
3,927
2,741
+21.8%
Free cash flow margin
12.2%
10.8%
8.0%
Cash from investing
-264
276
-1,008
Cash from financing
-5,293
-4,835
-2,148
Share-based compensation
325
218
215
+49.1%
Buybacks
4,286
4,254
3,223
+0.8%
Dividends paid
1,332
1,243
1,133
+7.2%
Dividend per share
$0.86
$0.78
$0.70
+10.3%
Diluted shares, weighted
1,618m
1,659m
1,692m
-2.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,040
9,812
12,407
-7.9%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
9.0
n/a
n/a
Debt
3,470
3,810
3,802
-8.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
11,198
8,914
7,050
+25.6%
Total liabilities and equity
23,717
22,536
23,259
+5.2%
Fixed assets
4,744
4,454
3,989
+6.5%
Goodwill
154
154
139
0.0%
Intangible assets
283
285
283
-0.7%
Investments
197
996
2,371
-80.2%
Cash and equivalents
4,466
4,249
3,808
+5.1%
Receivables
4,272
3,498
3,677
+22.1%
Other assets
9,601
8,900
8,992
+7.9%
Total assets
23,717
22,536
23,259
+5.2%
10-K for the year ended 31 May 2019, filed 23 July 2019: the filing.