Nike Inc (NKE)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 46,309,000 | 47,818,000 | 48,978,000 | 50,012,000 | 51,362,000 | 51,581,000 | 51,542,000 | 51,469,000 | 51,217,000 | 50,626,000 | 49,107,000 | 47,149,000 | 46,710,000 | 46,820,000 | 46,306,000 | 46,192,000 | 44,538,000 | 38,507,000 | 38,254,000 | 37,337,000 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 8,096,000 | 8,048,000 | 8,004,000 | 4,939,000 | 7,663,000 | 7,658,000 | 7,717,000 | 7,765,000 | 7,829,000 | 7,947,000 | 8,017,000 | 4,958,000 | 4,959,000 | 4,969,000 |
| Fixed asset turnover | — | — | — | — | — | — | 6.37 | 6.40 | 6.40 | 10.25 | 6.41 | 6.16 | 6.05 | 6.03 | 5.91 | 5.81 | 5.56 | 7.77 | 7.71 | 7.51 |
May 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $46,309,000K ÷ $—K
= —
The fixed asset turnover ratio for Nike Inc. demonstrates notable fluctuations over the period observed. Starting at 7.51 on August 31, 2020, the ratio shows a consistent upward trend, reaching a peak of 10.25 on February 28, 2023. This significant increase indicates that the company was utilizing its fixed assets more efficiently to generate sales during this period, particularly evident around early 2023.
Prior to this peak, the ratio maintained a generally steady yet modest growth from 7.51 in August 2020 to 7.77 in February 2021, followed by a slight decline to 5.56 in May 2021. Subsequently, the ratio increased again, reaching around 6.41 by November 2022. However, the most marked change occurred between November 2022 and February 2023, where the ratio jumped from 6.41 to 10.25, suggesting a substantial improvement in asset utilization.
After February 2023, the ratio declined to 6.40 by May 2023 and remained relatively stable through August and November 2023 at around 6.37–6.40. The absence of data beyond November 2023 limits further analysis, but the pattern indicates a stabilization in asset utilization efficiency after the sharp peak in early 2023.
Overall, the trend indicates periods of enhanced efficiency in leveraging fixed assets to generate sales, punctuated by a significant peak in early 2023. The stability observed in late 2023 suggests that Nike Inc. maintained a relatively consistent level of fixed asset utilization in the most recent period available.
Peer comparison
May 31, 2025