Nike Inc (NKE)
Receivables turnover
| 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 | May 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 37,403,000 |
| Receivables | US$ in thousands | 4,491,000 | 5,302,000 | 4,764,000 | 4,427,000 | 4,526,000 | 4,782,000 | 4,749,000 | 4,131,000 | 4,513,000 | 5,437,000 | 4,960,000 | 4,667,000 | 3,827,000 | 3,746,000 | 4,341,000 | 4,463,000 | 3,669,000 | 3,713,000 | 3,813,000 | 2,749,000 |
| Receivables turnover | 10.65 | 9.24 | 10.50 | 11.60 | 11.40 | 10.78 | 10.84 | 12.40 | 11.22 | 9.03 | 9.51 | 10.01 | 12.23 | 12.36 | 10.64 | 9.98 | 10.50 | 10.30 | 9.79 | 13.61 |
February 28, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $47,818,000K ÷ $4,491,000K
= 10.65
The receivables turnover ratio for Nike Inc. has exhibited notable fluctuations over the observed periods from May 31, 2020, through February 28, 2025. During the initial period ending May 31, 2020, the ratio stood at 13.61, indicating that the company collected its receivables approximately 13.6 times annually. This high turnover suggests relatively efficient receivables management during that period.
Subsequently, there was a decline to 9.79 by August 31, 2020, implying a decrease in collection efficiency, which persisted through November 30, 2020, at 10.30, and slightly increased to 10.50 by February 28, 2021. Throughout 2021, the ratio generally fluctuated within a range of approximately 9.98 to 12.36, reaching a peak of 12.36 on November 30, 2021, indicating improved receivables collection during that quarter.
In 2022, the ratio experienced a moderate decline to 10.01 by May 31, then further decreased to 9.51 by August 31, and to 9.03 by November 30. Nonetheless, it rebounded slightly to 11.22 by February 28, 2023, and further increased to 12.40 by May 31, 2023, signaling improved collection efficiency during that period. The ratios subsequently decreased again to 10.84 in August 2023, and further marginally declined to 10.78 by November 30, 2023.
The most recent data points show a slight subsequent increase to 11.40 in February 2024 and 11.60 in May 2024, before a decline to 10.50 in August 2024 and further down to 9.24 by November 30, 2024. The final reported ratio on February 28, 2025, is 10.65, indicating a modest recovery from the recent lows.
Overall, Nike’s receivables turnover has demonstrated variability over the analyzed period, alternating between periods of higher efficiency—with ratios exceeding 12—and periods of lower collections efficiency, dipping below 10 at certain points. This fluctuation reflects dynamic management of receivables and potential seasonal or operational factors influencing collection cycles. The trend suggests that while the company maintained generally consistent receivables management, there were notable periods of decline, warranting continued attention to credit and collection policies to optimize cash flow management.
Peer comparison
Feb 28, 2025