Nike (NKE) FY2021 results: revenue $44.5 billion, up 19.1% on the year
Nike, Inc. (NKE) reported revenue of $44.5 billion for fiscal 2021, the year ended 31 May 2021, up 19.1% on the year before. Net income was $5.7 billion, up 125.6%, and diluted earnings per share $3.56. The figures are the company's own, from the 10-K it filed with the SEC on 20 July 2021.
Revenue
$44.5 billion
+19.1% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$5.7 billion
+125.6% on the year
FY2014FY2021
Diluted EPS
$3.56
+122.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
44,538
37,403
39,117
+19.1%
Cost of revenue
24,576
21,162
21,643
+16.1%
Gross profit
19,962
16,241
17,474
+22.9%
Gross margin
44.8%
43.4%
44.7%
Selling, general and administrative
13,025
13,126
12,702
-0.8%
Pre-tax income
6,661
2,887
4,801
+130.7%
Income tax
934
348
772
+168.4%
Effective tax rate
14.0%
12.1%
16.1%
Net income
5,727
2,539
4,029
+125.6%
Net margin
12.9%
6.8%
10.3%
Diluted EPS
$3.56
$1.60
$2.49
+122.5%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
6,657
2,485
5,903
+167.9%
Capital expenditure
695
1,086
1,119
-36.0%
Free cash flow
5,962
1,399
4,784
+326.2%
Free cash flow margin
13.4%
3.7%
12.2%
Cash from investing
-3,800
-1,028
-264
Cash from financing
-1,459
2,491
-5,293
Share-based compensation
611
429
325
+42.4%
Buybacks
608
3,067
4,286
-80.2%
Dividends paid
1,638
1,452
1,332
+12.8%
Dividend per share
$1.07
$0.95
$0.86
+12.0%
Diluted shares, weighted
1,609m
1,592m
1,618m
+1.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
12,767
8,055
9,040
+58.5%
Redeemable equity
0.0
0.0
0.0
Short-term borrowings
2.0
n/a
9.0
Debt
9,413
9,657
3,470
-2.5%
Operating lease liabilities
2,931
2,913
0.0
+0.6%
Other liabilities
12,627
10,717
11,198
+17.8%
Total liabilities and equity
37,740
31,342
23,717
+20.4%
Fixed assets
4,904
4,866
4,744
+0.8%
Goodwill
242
223
154
+8.5%
Intangible assets
269
274
283
-1.8%
Investments
3,587
439
197
+717.1%
Cash and equivalents
9,889
8,348
4,466
+18.5%
Receivables
4,463
2,749
4,272
+62.3%
Other assets
14,386
14,443
9,601
-0.4%
Total assets
37,740
31,342
23,717
+20.4%
10-K for the year ended 31 May 2021, filed 20 July 2021: the filing.