NIKE, Inc. (NKE) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Apparel - Footwear & Accessories
EV/EBITDA
↓
12.38
↓-49% vs avg
5yr avg: 24.25
30Y Low8.7·High38.2
P/FCF
↓
15.99
↓-51% vs avg
5yr avg: 32.70
30Y Low12.6·High129.6
P/B Ratio
↓
4.94
↓-58% vs avg
5yr avg: 11.69
30Y Low3.2·High19.5
ROE
↓
23.3%
↑-41% vs avg
5yr avg: 39.2%
30Y Low12%·High55%
Debt/EBITDA
↑
2.44
↑+32% vs avg
5yr avg: 1.85
30Y Low0.1·High3.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NKE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
NIKE, Inc. trades at 20.3x earnings, 35% below its 5-year average of 31.2x, sitting at the 30th percentile of its historical range. This is roughly in line with the Consumer Cyclical sector median P/E of 19.6x. On a free-cash-flow basis, the stock trades at 16.0x P/FCF, 51% below the 5-year average of 32.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $52.3B | $90.1B | $145.4B | $165.2B | $191.4B | $219.6B | $156.9B | $124.8B | $119.1B | $89.7B | $96.2B |
| Enterprise Value | $55.8B | $93.7B | $147.5B | $169.9B | $195.5B | $222.5B | $161.6B | $123.9B | $118.7B | $89.7B | $95.1B |
| P/E Ratio → | 20.31 | 28.05 | 25.48 | 32.59 | 31.69 | 38.33 | 61.61 | 30.98 | 61.37 | 21.11 | 25.56 |
| P/S Ratio | 1.13 | 1.95 | 2.83 | 3.23 | 4.10 | 4.93 | 4.19 | 3.19 | 3.27 | 2.61 | 2.97 |
| P/B Ratio | 4.94 | 6.82 | 10.08 | 11.80 | 12.53 | 17.20 | 19.48 | 13.81 | 12.14 | 7.23 | 7.85 |
| P/FCF | 15.99 | 27.58 | 21.97 | 33.92 | 43.22 | 36.84 | 112.15 | 26.10 | 30.33 | 35.37 | 49.27 |
| P/OCF | 14.13 | 24.37 | 19.57 | 28.29 | 36.90 | 32.99 | 63.14 | 21.15 | 24.04 | 24.63 | 31.08 |
P/E links to full P/E history page with 30-year chart
NKE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
NIKE, Inc.'s enterprise value stands at 12.4x EBITDA, 49% below its 5-year average of 24.3x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 9% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.02 | 2.87 | 3.32 | 4.19 | 5.00 | 4.32 | 3.17 | 3.26 | 2.61 | 2.94 |
| EV / EBITDA | 12.38 | 20.77 | 20.61 | 25.09 | 26.01 | 28.77 | 38.16 | 22.55 | 22.74 | 16.40 | 18.42 |
| EV / EBIT | 15.08 | 25.31 | 23.37 | 28.73 | 29.29 | 32.08 | 51.87 | 25.95 | 26.70 | 18.88 | 21.13 |
| EV / FCF | — | 28.67 | 22.29 | 34.88 | 44.13 | 37.33 | 115.49 | 25.89 | 30.22 | 35.37 | 48.70 |
NKE Profitability
Margins and return-on-capital ratios measuring operating efficiency
NIKE, Inc. earns an operating margin of 8.0%, above the Consumer Cyclical sector average of 2.9%. Operating margins have compressed from 11.5% to 8.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 23.3% indicates solid capital efficiency, compared to the sector median of 5.8%. ROIC of 16.7% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.7% | 42.7% | 44.6% | 43.5% | 46.0% | 44.8% | 43.4% | 44.7% | 43.8% | 44.6% | 46.2% |
| Operating Margin | 8.0% | 8.0% | 12.3% | 11.5% | 14.3% | 15.6% | 8.3% | 12.2% | 12.2% | 13.8% | 13.9% |
| Net Profit Margin | 7.0% | 7.0% | 11.1% | 9.9% | 12.9% | 12.9% | 6.8% | 10.3% | 5.3% | 12.3% | 11.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.3% | 23.3% | 40.1% | 34.6% | 43.1% | 55.0% | 29.7% | 42.7% | 17.4% | 34.4% | 30.1% |
| ROA | 8.6% | 8.6% | 15.1% | 13.0% | 15.5% | 16.6% | 9.2% | 17.4% | 8.4% | 19.0% | 17.5% |
| ROIC | 16.7% | 16.7% | 26.9% | 23.3% | 28.6% | 36.6% | 22.5% | 41.1% | 30.6% | 30.2% | 31.7% |
| ROCE | 13.8% | 13.8% | 22.6% | 20.4% | 23.2% | 27.1% | 16.0% | 29.5% | 25.9% | 28.1% | 28.8% |
NKE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
NIKE, Inc. carries a Debt/EBITDA ratio of 2.4x, which is manageable (43% below the sector average of 4.3x). Net debt stands at $3.6B ($11.0B total debt minus $7.5B cash). Interest coverage of 12.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 0.83 | 0.83 | 0.87 | 0.83 | 1.00 | 1.62 | 0.38 | 0.39 | 0.31 | 0.17 |
| Debt / EBITDA | 2.44 | 2.44 | 1.67 | 1.79 | 1.68 | 1.66 | 3.07 | 0.63 | 0.73 | 0.70 | 0.39 |
| Net Debt / Equity | — | 0.27 | 0.14 | 0.34 | 0.27 | 0.23 | 0.58 | -0.11 | -0.04 | -0.00 | -0.09 |
| Net Debt / EBITDA | 0.79 | 0.79 | 0.29 | 0.69 | 0.54 | 0.38 | 1.10 | -0.18 | -0.08 | -0.00 | -0.21 |
| Debt / FCF | — | 1.09 | 0.32 | 0.97 | 0.91 | 0.49 | 3.34 | -0.21 | -0.11 | -0.00 | -0.56 |
| Interest Coverage | 12.81 | 12.81 | 24.18 | 20.90 | 22.86 | 24.00 | 21.63 | 38.48 | 37.99 | 57.91 | 136.42 |
NKE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
NIKE, Inc.'s current ratio of 2.21x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.50x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.72x to 2.21x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.21 | 2.21 | 2.40 | 2.72 | 2.63 | 2.72 | 2.48 | 2.10 | 2.51 | 2.93 | 2.80 |
| Quick Ratio | 1.50 | 1.50 | 1.69 | 1.81 | 1.84 | 2.01 | 1.59 | 1.39 | 1.63 | 2.01 | 1.90 |
| Cash Ratio | 0.87 | 0.87 | 1.09 | 1.15 | 1.21 | 1.39 | 1.06 | 0.59 | 0.87 | 1.13 | 1.02 |
| Asset Turnover | — | 1.27 | 1.35 | 1.36 | 1.16 | 1.18 | 1.19 | 1.65 | 1.62 | 1.48 | 1.51 |
| Inventory Turnover | 3.54 | 3.54 | 3.79 | 3.42 | 3.00 | 3.59 | 2.87 | 3.85 | 3.89 | 3.77 | 3.60 |
| Days Sales Outstanding | — | 37.18 | 31.46 | 29.44 | 36.47 | 36.58 | 26.83 | 39.86 | 35.08 | 39.07 | 36.54 |
NKE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
NIKE, Inc. returns 9.2% to shareholders annually — split between a 3.5% dividend yield and 5.7% buyback yield. The payout ratio of 71.5% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.5% | 2.6% | 1.5% | 1.2% | 1.0% | 0.7% | 0.9% | 1.1% | 1.0% | 1.3% | 1.1% |
| Payout Ratio | 71.5% | 71.5% | 38.1% | 39.7% | 30.4% | 28.6% | 57.2% | 33.1% | 64.3% | 26.7% | 27.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.9% | 3.6% | 3.9% | 3.1% | 3.2% | 2.6% | 1.6% | 3.2% | 1.6% | 4.7% | 3.9% |
| FCF Yield | 6.3% | 3.6% | 4.6% | 2.9% | 2.3% | 2.7% | 0.9% | 3.8% | 3.3% | 2.8% | 2.0% |
| Buyback Yield | 5.7% | 3.3% | 2.9% | 3.3% | 2.1% | 0.3% | 2.0% | 3.4% | 3.6% | 3.6% | 3.4% |
| Total Shareholder Yield | 9.2% | 5.9% | 4.4% | 4.5% | 3.1% | 1.0% | 2.9% | 4.5% | 4.6% | 4.9% | 4.4% |
| Shares Outstanding | — | $1.5B | $1.5B | $1.6B | $1.6B | $1.6B | $1.6B | $1.6B | $1.7B | $1.7B | $1.7B |
Peer Comparison
Compare NKE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NKEYou | $52B | 20.3 | 12.4 | 16.0 | 42.7% | 8.0% | 23.3% | 16.7% | 2.4 |
 UAA | $1B | -13.8 | — | — | 47.9% | -3.6% | -10.0% | -5.1% | — |
 ONON | $11B | 48.5 | 16.4 | 32.9 | 62.8% | 12.5% | 12.9% | 26.9% | 1.2 |
 DECK | $15B | 16.4 | 10.6 | 15.4 | 57.9% | 23.6% | 41.8% | 99.7% | 0.2 |
 VFC | $8B | -39.6 | 22.3 | 22.4 | 53.5% | 3.2% | -8.6% | 2.7% | 9.5 |
 PVH | $4B | 8.7 | 6.8 | 7.2 | 59.4% | 8.5% | 11.7% | 7.0% | 3.3 |
 HBI | $2B | -7.1 | 16.6 | 10.1 | 38.8% | 5.3% | -141.4% | 4.5% | 9.2 |
 RL | $50B | 32.1 | 44.4 | 49.5 | 68.6% | 13.2% | 29.5% | 20.6% | 2.3 |
 COLM | $3B | 19.6 | 14.4 | 15.3 | 50.2% | 6.0% | 10.2% | 8.0% | 3.3 |
 LULU | $15B | 10.0 | 5.4 | 16.0 | 56.6% | 19.9% | 33.8% | 37.2% | 0.7 |
 CROX | $5B | -70.5 | 7.0 | 8.0 | 57.0% | 22.0% | -5.2% | 21.7% | 1.7 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 14.9 | 37.9% | 2.9% | 5.8% | 5.8% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full NKE Stock Analysis
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Start ComparisonNKE — Frequently Asked Questions
Quick answers to the most common questions about buying NKE stock.
What is NIKE, Inc.'s P/E ratio?
NIKE, Inc.'s current P/E ratio is 20.3x. The historical average is 27.3x. This places it at the 30th percentile of its historical range.
What is NIKE, Inc.'s EV/EBITDA?
NIKE, Inc.'s current EV/EBITDA is 12.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.2x.
What is NIKE, Inc.'s ROE?
NIKE, Inc.'s return on equity (ROE) is 23.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 25.7%.
Is NKE stock overvalued?
Based on historical data, NIKE, Inc. is trading at a P/E of 20.3x. This is at the 30th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is NIKE, Inc.'s dividend yield?
NIKE, Inc.'s current dividend yield is 3.52% with a payout ratio of 71.5%.
What are NIKE, Inc.'s profit margins?
NIKE, Inc. has 42.7% gross margin and 8.0% operating margin.
How much debt does NIKE, Inc. have?
NIKE, Inc.'s Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.