Nike Inc (NKE)
Gross profit margin
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 22,292,000 | 21,479,000 | 19,962,000 | 16,241,000 | 17,474,000 |
| Revenue | US$ in thousands | 51,430,000 | 46,736,000 | 44,676,000 | 37,380,000 | 38,884,000 |
| Gross profit margin | 43.34% | 45.96% | 44.68% | 43.45% | 44.94% |
May 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $22,292,000K ÷ $51,430,000K
= 43.34%
The gross profit margin of Nike, Inc. has exhibited some fluctuation over the past five years. In 2023, the gross profit margin decreased to 43.52% from 45.98% in 2022. This decline suggests that the company's cost of goods sold relative to revenue increased in 2023. Compared to 2021, the gross profit margin also decreased slightly. However, it is important to note that the gross profit margin in 2023 is still higher than in 2020 and 2019, indicating that Nike has maintained relatively strong gross profitability despite the recent decrease. Further analysis of the company's cost structure and pricing strategy could provide insights into the factors influencing these changes in gross profit margin.
Peer comparison
May 31, 2023