Nike Inc (NKE)
Payables turnover
| 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 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 45,897,000 | 45,998,000 | 45,480,000 | 45,645,000 | 45,302,000 | 44,464,000 | 42,728,000 | 40,903,000 | 40,035,000 | 39,700,000 | 39,137,000 | 38,897,000 | 37,601,000 | 34,321,000 | 34,556,000 | 33,999,000 | 34,288,000 | 36,094,000 | 35,543,000 | 34,848,000 |
| Payables | US$ in thousands | 2,851,000 | 2,340,000 | 2,709,000 | 2,738,000 | 2,862,000 | 2,675,000 | 2,810,000 | 3,371,000 | 3,358,000 | 2,770,000 | 2,795,000 | 2,135,000 | 2,836,000 | 2,257,000 | 2,154,000 | 1,983,000 | 2,248,000 | 2,221,000 | 2,627,000 | 2,716,000 |
| Payables turnover | 16.10 | 19.66 | 16.79 | 16.67 | 15.83 | 16.62 | 15.21 | 12.13 | 11.92 | 14.33 | 14.00 | 18.22 | 13.26 | 15.21 | 16.04 | 17.15 | 15.25 | 16.25 | 13.53 | 12.83 |
May 31, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $45,897,000K ÷ $2,851,000K
= 16.10
Nike Inc's payables turnover has shown fluctuations over the past few quarters. The payables turnover ratio indicates the number of times a company pays off its accounts payable during a period. In the latest available data, the payables turnover ratio for May 31, 2024, stands at 16.10, which suggests that Nike is paying its suppliers 16.10 times in a year.
Looking at the trend over the past few quarters, there seems to be some variability in the payables turnover ratio. The ratio has ranged from a low of 11.92 in August 31, 2022, to a high of 19.66 in February 29, 2024. An increasing ratio indicates that Nike is paying its suppliers more frequently, which could be a sign of good liquidity management. On the other hand, a decreasing ratio may signal that Nike is taking longer to pay its suppliers, which could have implications for its relationships with suppliers.
Overall, while the payables turnover ratio for Nike Inc has shown some fluctuations, it is important to assess this ratio in conjunction with other financial metrics to get a comprehensive understanding of the company's financial health and operational efficiency in managing its payables.
Peer comparison
May 31, 2024