Nike Inc (NKE)
Operating profit margin
| May 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 3,702,000 | 4,966,000 | 5,514,000 | 5,955,000 | 6,350,000 | 5,750,000 | 5,682,000 | 5,444,000 | 5,375,000 | 5,562,000 | 5,740,000 | 5,654,000 | 6,225,000 | 6,966,000 | 7,156,000 | 7,235,000 | 6,844,000 | 4,127,000 | 3,372,000 | 3,012,000 |
| Revenue (ttm) | US$ in thousands | 46,309,000 | 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 |
| Operating profit margin | 7.99% | 10.39% | 11.26% | 11.91% | 12.36% | 11.15% | 11.02% | 10.58% | 10.49% | 10.99% | 11.69% | 11.99% | 13.33% | 14.88% | 15.45% | 15.66% | 15.37% | 10.72% | 8.81% | 8.07% |
May 31, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $3,702,000K ÷ $46,309,000K
= 7.99%
The operating profit margin of Nike Inc. has demonstrated notable fluctuation over the specified periods. Starting at 8.07% as of August 31, 2020, there was a steady upward trajectory, reaching a peak of approximately 15.66% by August 31, 2021. This period signifies a substantial improvement in operational efficiency and profitability margins, likely driven by effective cost management, revenue growth, and possibly favorable product mix or market conditions.
Following this peak, a gradual decline ensued, with the operating profit margin decreasing to approximately 11.69% by November 30, 2022. The downward trend persisted into early 2023, with the margin recording values near 10.99% on February 28, 2023, and slightly decreasing thereafter. This decline may reflect increased operational costs, challenges in sales volume, or market conditions impacting profitability.
However, there was a modest recovery observed subsequently, with the margin rising to around 12.36% as of May 31, 2024. Despite some fluctuations, the margin remained relatively stable around the 11% to 12% range through the latest data points. As of February 28, 2025, the operating profit margin stood at 10.39%, indicating a slight decrease from previous peaks.
In summary, Nike Inc.'s operating profit margin experienced a significant expansion from 2020 into mid-2021, followed by a gradual contraction over the subsequent periods, with partial recoveries. The overall trend reflects periods of operational improvement intertwined with challenges impacting profitability in later years.
Peer comparison
May 31, 2025