Nike Inc (NKE)
Total asset turnover
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 51,500,000 | 51,430,000 | 46,736,000 | 44,676,000 | 37,380,000 |
| Total assets | US$ in thousands | 38,110,000 | 37,531,000 | 40,321,000 | 37,740,000 | 31,342,000 |
| Total asset turnover | 1.35 | 1.37 | 1.16 | 1.18 | 1.19 |
May 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $51,500,000K ÷ $38,110,000K
= 1.35
Nike Inc's total asset turnover ratio has fluctuated over the past five years. In the most recent fiscal year ending on May 31, 2024, the total asset turnover ratio was 1.35, indicating that the company generated $1.35 in sales for every $1 of assets. This represents a slight decrease compared to the previous year's ratio of 1.37.
Looking back further, in May 2022, the total asset turnover ratio was 1.16, showing an improvement in asset utilization compared to the two subsequent years. However, in both May 2021 and May 2020, the total asset turnover ratios were relatively consistent at 1.18 and 1.19 respectively.
Overall, Nike Inc's total asset turnover ratio has shown some variability but has generally demonstrated the company's ability to efficiently generate sales relative to its total assets. Vigilant monitoring of this ratio can provide insights into the company's asset management and operational efficiency over time.
Peer comparison
May 31, 2024