Nike Inc (NKE)
Current ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 25,382,000 | 24,753,000 | 24,631,000 | 24,250,000 | 25,202,000 | 26,035,000 | 27,447,000 | 28,877,000 | 28,213,000 | 26,962,000 | 27,177,000 | 26,390,000 | 26,291,000 | 24,700,000 | 23,607,000 | 21,937,000 | 20,556,000 | 15,744,000 | 16,369,000 | 16,228,000 |
| Total current liabilities | US$ in thousands | 10,593,000 | 9,029,000 | 8,999,000 | 8,461,000 | 9,256,000 | 9,548,000 | 10,199,000 | 10,919,000 | 10,730,000 | 8,818,000 | 8,857,000 | 8,269,000 | 9,674,000 | 8,894,000 | 8,871,000 | 8,619,000 | 8,284,000 | 8,280,000 | 8,264,000 | 8,070,000 |
| Current ratio | 2.40 | 2.74 | 2.74 | 2.87 | 2.72 | 2.73 | 2.69 | 2.64 | 2.63 | 3.06 | 3.07 | 3.19 | 2.72 | 2.78 | 2.66 | 2.55 | 2.48 | 1.90 | 1.98 | 2.01 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $25,382,000K ÷ $10,593,000K
= 2.40
The current ratio for Nike Inc has exhibited fluctuations over the past few years, ranging from a low of 1.90 to a high of 3.19. As of May 31, 2024, the current ratio stands at 2.40, indicating that the company has $2.40 in current assets to cover each dollar of current liabilities.
The current ratio has generally been above 2.0, which is typically considered healthy as it suggests Nike has a strong ability to meet its short-term obligations. However, a declining trend in the current ratio from the peak of 3.19 in August 2021 could be a point of concern, as it indicates a potential weakening of the company's liquidity position.
Investors and stakeholders should continue to monitor Nike's current ratio to assess its ability to efficiently manage its short-term financial obligations.
Peer comparison
May 31, 2024