Nike (NKE) FY2020 results: revenue $37.4 billion, down 4.4% on the year
Nike, Inc. (NKE) reported revenue of $37.4 billion for fiscal 2020, the year ended 31 May 2020, down 4.4% on the year before. Net income was $2.5 billion, down 37.0%, and diluted earnings per share $1.60. The figures are the company's own, from the 10-K it filed with the SEC on 24 July 2020.
Revenue
$37.4 billion
-4.4% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$2.5 billion
-37.0% on the year
FY2013FY2020
Diluted EPS
$1.60
-35.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
37,403
39,117
36,397
-4.4%
Cost of revenue
21,162
21,643
20,441
-2.2%
Gross profit
16,241
17,474
15,956
-7.1%
Gross margin
43.4%
44.7%
43.8%
Selling, general and administrative
13,126
12,702
11,511
+3.3%
Pre-tax income
2,887
4,801
4,325
-39.9%
Income tax
348
772
2,392
-54.9%
Effective tax rate
12.1%
16.1%
55.3%
Net income
2,539
4,029
1,933
-37.0%
Net margin
6.8%
10.3%
5.3%
Diluted EPS
$1.60
$2.49
$1.17
-35.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,485
5,903
4,955
-57.9%
Capital expenditure
1,086
1,119
1,028
-2.9%
Free cash flow
1,399
4,784
3,927
-70.8%
Free cash flow margin
3.7%
12.2%
10.8%
Cash from investing
-1,028
-264
276
Cash from financing
2,491
-5,293
-4,835
Share-based compensation
429
325
218
+32.0%
Buybacks
3,067
4,286
4,254
-28.4%
Dividends paid
1,452
1,332
1,243
+9.0%
Dividend per share
$0.95
$0.86
$0.78
+11.0%
Diluted shares, weighted
1,592m
1,618m
1,659m
-1.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,055
9,040
9,812
-10.9%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
n/a
9.0
n/a
Debt
9,657
3,470
3,810
+178.3%
Operating lease liabilities
2,913
0.0
n/a
Other liabilities
10,717
11,198
8,914
-4.3%
Total liabilities and equity
31,342
23,717
22,536
+32.1%
Fixed assets
4,866
4,744
4,454
+2.6%
Goodwill
223
154
154
+44.8%
Intangible assets
274
283
285
-3.2%
Investments
439
197
996
+122.8%
Cash and equivalents
8,348
4,466
4,249
+86.9%
Receivables
2,749
4,272
3,498
-35.7%
Other assets
14,443
9,601
8,900
+50.4%
Total assets
31,342
23,717
22,536
+32.1%
10-K for the year ended 31 May 2020, filed 24 July 2020: the filing.