Nike Inc (NKE)
Days of inventory on hand (DOH)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 3.54 | 3.56 | 3.40 | 3.34 | 3.79 | 3.72 | 3.62 | 3.34 | 3.42 | 3.19 | 2.92 | 2.67 | 3.00 | 3.27 | 3.85 | 3.77 | 3.59 | 3.26 | 3.59 | 3.17 | |
| DOH | days | 103.08 | 102.44 | 107.35 | 109.19 | 96.38 | 98.14 | 100.83 | 109.20 | 106.68 | 114.34 | 125.10 | 136.95 | 121.81 | 111.58 | 94.90 | 96.74 | 101.79 | 111.82 | 101.78 | 115.30 |
May 31, 2025 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.54
= 103.08
The analysis of Nike Inc.'s Days of Inventory on Hand (DOH) over the specified periods indicates notable fluctuations and an overall upward trend followed by stabilization.
Initially, as of August 31, 2020, the DOH was approximately 115.30 days, reflecting the period it took for Nike to sell its inventory. The subsequent quarter-ending figure on November 30, 2020, decreased to about 101.78 days, indicating an improvement in inventory turnover during that period. The DOH slightly increased again to 111.82 days as of February 28, 2021, but for the remainder of 2021, the DOH generally trended downward, reaching a low of approximately 94.90 days in November 2021.
In 2022, the DOH saw a rising trend, peaking at approximately 136.95 days as of August 31, 2022. This substantial increase suggests a lengthening of the inventory cycle, possibly due to increased inventory levels, supply chain delays, or strategic inventory positioning. The DOH then declined to roughly 125.10 days in November 2022 and further decreased to about 114.34 days by February 2023, indicating a partial turnaround.
During 2023, the DOH continued on a downward path, reaching around 106.68 days in May and approximately 109.20 days in August, approaching levels observed earlier in 2021. The trend persisted into late 2023, with November 30, 2023, recording a DOH of approximately 100.83 days. Early in 2024, the figure stabilized near 98.14 days in February and slightly increased to about 96.38 days in May before rising again to approximately 109.19 days in August 2024. The data for late 2024 and early 2025 shows the DOH fluctuating within the range of approximately 97 to 103 days.
Overall, the pattern indicates periods of inventory accumulation—reflected in the higher DOH figures during mid-2022—and periods of inventory reduction—indicated by the decline in DOH from late 2022 through 2023. The overall trend during the analyzed timeframe suggests Nike has managed to maintain relatively stable inventory turnover, with the DOH oscillating around the 100-day mark in recent periods, aligning with typical industry benchmarks for active apparel and footwear companies.
Peer comparison
May 31, 2025
See also:
Nike Inc Average Inventory Processing Period (Quarterly Data)