Nike Inc (NKE)
Total asset 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 |
| Total assets | US$ in thousands | 37,793,000 | 37,959,000 | 37,867,000 | 38,110,000 | 37,356,000 | 37,203,000 | 36,786,000 | 37,531,000 | 38,294,000 | 39,647,000 | 41,088,000 | 40,321,000 | 38,577,000 | 38,917,000 | 37,917,000 | 37,740,000 | 36,185,000 | 34,836,000 | 33,258,000 | 31,342,000 |
| Total asset turnover | 1.27 | 1.29 | 1.32 | 1.35 | 1.38 | 1.39 | 1.40 | 1.36 | 1.32 | 1.24 | 1.15 | 1.16 | 1.21 | 1.19 | 1.22 | 1.18 | 1.06 | 1.10 | 1.12 | 1.19 |
February 28, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $47,818,000K ÷ $37,793,000K
= 1.27
The total asset turnover ratio of Nike Inc. exhibits notable fluctuations over the analyzed period, reflecting changes in the company's efficiency in utilizing its assets to generate sales. At the beginning of the examined timeframe ending May 31, 2020, the ratio stood at 1.19, indicating a solid level of asset utilization. Subsequently, the ratio experienced a decline through the rest of 2020, reaching a low of 1.10 by November 30, 2020, and further dipping to 1.06 at the end of February 2021. This downward trend may suggest challenges in asset efficiency or a strategic shift in asset deployment during that period.
From late May 2021 onward, the ratio demonstrated a recovery and upward trend, reaching 1.18 and then increasing to 1.22 by August 2021. The ratio stabilized around similar levels through late 2021, with a modest peak at 1.24 in November 2022. This period indicates improved asset utilization possibly driven by operational efficiencies or stronger sales performance relative to asset base.
The upward trajectory continued into 2023, with the ratio rising to 1.32 by February. It further increased, peaking at 1.40 on August 31, 2023—its highest point in the dataset—before a slight decline to 1.39 in November 2023 and further to 1.38 in February 2024. In subsequent periods, there is a gradual decrease towards 1.27 by February 2025, suggesting a slight reduction in asset efficiency or a deliberate expansion of assets relative to sales.
Overall, the data indicates periods of both decline and recovery, with recent ratios remaining relatively high compared to earlier years, reflecting generally efficient utilization of Nike’s assets over the analyzed timeframe. The upward trend culminating in 2023 signifies improved operational effectiveness, while the subsequent slight decline may warrant further investigation into asset management strategies or changing market conditions.
Peer comparison
Feb 28, 2025