Nike Inc (NKE)
Total asset 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 51,426,000 | 51,604,000 | 51,565,000 | 51,492,000 | 51,217,000 | 50,639,000 | 49,120,000 | 47,162,000 | 46,696,000 | 46,785,000 | 46,271,000 | 46,157,000 | 44,591,000 | 38,480,000 | 38,227,000 | 37,310,000 | 37,282,000 | 41,210,000 | 40,717,000 | 49,139,000 |
| Total assets | US$ in thousands | 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 | 26,220,000 | 26,602,000 | 26,249,000 |
| Total asset turnover | 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 | 1.57 | 1.53 | 1.87 |
May 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $51,426,000K ÷ $38,110,000K
= 1.35
Nike Inc's total asset turnover ratio has shown fluctuation over the past few years. The ratio has ranged between 1.06 and 1.87, with an average of approximately 1.31. A higher total asset turnover ratio indicates that the company is generating more revenue relative to its total assets, reflecting efficiency in utilizing its assets to generate sales.
The trend of Nike's total asset turnover over the years shows some variability, with a general upward trend from 2019 to 2020, a peak in 2020, and subsequent fluctuations in the following years. Despite the fluctuations, the ratio has generally remained above 1. This suggests that Nike has been effectively managing its assets to generate sales revenue.
It is important to note that changes in the total asset turnover ratio could be influenced by various factors such as changes in business operations, asset management strategies, and economic conditions. Further analysis of the company's financial statements and other performance indicators would provide a more comprehensive understanding of Nike's operational efficiency and asset utilization.
Peer comparison
May 31, 2024