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Nike (NKE)

NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories.

Company profile

Ticker
NKE
Exchange
Website
CEO
Mark Parker
Employees
Incorporated
Location
Fiscal year end
Former names
NIKE INC
SEC CIK
Subsidiaries
NIKE Retail B.V. • NIKE Retail Services, Inc. • NIKE USA, Inc. ...
IRS number
930584541

NKE stock data

Calendar

21 Jul 22
25 Sep 22
31 May 23
Quarter (USD) May 22 Feb 22 Nov 21 Aug 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) May 22 May 21 May 20 May 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 8.57B 8.57B 8.57B 8.57B 8.57B 8.57B
Cash burn (monthly) 43.33M 109.58M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 166.38M 420.76M n/a n/a n/a n/a
Cash remaining 8.41B 8.15B n/a n/a n/a n/a
Runway (months of cash) 194.0 74.4 n/a n/a n/a n/a

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Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Sep 22 Robert Holmes Swan Class B Common Stock Grant Acquire A No No 0 1,856 0 2,952
20 Sep 22 Monica Gil Class B Common Stock Grant Acquire A No No 0 1,856 0 1,856
9 Sep 22 Cathleen A Benko Class B Common Stock Grant Acquire A No No 0 1,804 0 10,942
79.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 2200 2324 -5.3%
Opened positions 132 145 -9.0%
Closed positions 256 233 +9.9%
Increased positions 933 983 -5.1%
Reduced positions 830 859 -3.4%
13F shares Current Prev Q Change
Total value 115.27B 135.68B -15.0%
Total shares 997.99M 1.01B -1.1%
Total puts 18.25M 15.73M +16.0%
Total calls 16.67M 16.85M -1.1%
Total put/call ratio 1.1 0.9 +17.3%
Largest owners Shares Value Change
Vanguard 107.63M $11B +0.6%
BLK Blackrock 89.81M $9.18B -0.8%
STT State Street 54.56M $5.59B -3.6%
Alliancebernstein 27.82M $2.84B +3.0%
Wellington Management 26.51M $2.71B +47.0%
MS Morgan Stanley 23.54M $2.41B +26.7%
BK Bank Of New York Mellon 23.3M $2.38B +0.8%
Geode Capital Management 22.66M $2.31B +2.7%
FMR 19.23M $1.97B -15.9%
JPM JPMorgan Chase & Co. 18.29M $1.87B -9.5%
Largest transactions Shares Bought/sold Change
Wellington Management 26.51M +8.47M +47.0%
Parametric Portfolio Associates 0 -5.37M EXIT
MS Morgan Stanley 23.54M +4.97M +26.7%
TROW T. Rowe Price 16.43M -4.05M -19.8%
FMR 19.23M -3.65M -15.9%
GS Goldman Sachs 10.45M +2.26M +27.6%
Renaissance Technologies 2.08M +2.08M NEW
STT State Street 54.56M -2.01M -3.6%
JHG Janus Henderson 7.68M -1.98M -20.5%
JPM JPMorgan Chase & Co. 18.29M -1.92M -9.5%

Financial report summary

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Risks
  • Special Note Regarding Forward-Looking Statements and Analyst Reports
  • Global economic conditions could have a material adverse effect on our business, operating results and financial condition.
  • Our financial condition and results of operations have been, and could in the future be, adversely affected by the COVID-19 pandemic.
  • Our products, services and experiences face intense competition.
  • Economic factors beyond our control, and changes in the global economic environment, including fluctuations in inflation and currency exchange rates, could result in lower revenues, higher costs and decreased margins and earnings.
  • We may be adversely affected by the financial health of our customers.
  • Extreme weather conditions and natural disasters could negatively impact our operating results and financial condition.
  • Failure to maintain our reputation, brand image and culture could negatively impact our business.
  • Our business is affected by seasonality, which could result in fluctuations in our operating results.
  • If we are unable to anticipate consumer preferences and develop new products, we may not be able to maintain or increase our revenues and profits.
  • We rely on technical innovation and high-quality products to compete in the market for our products.
  • Failure to continue to obtain or maintain high-quality endorsers of our products could harm our business.
  • Failure to accurately forecast consumer demand could lead to excess inventories or inventory shortages, which could result in decreased operating margins, reduced cash flows and harm to our business.
  • Our NIKE Direct operations have required and will continue to require a substantial investment and commitment of resources and are subject to numerous risks and uncertainties.
  • If the technology-based systems that give our consumers the ability to shop or interact with us online do not function effectively, our operating results, as well as our ability to grow our digital commerce business globally or to retain our customer base, could be materially adversely affected.
  • We rely significantly on information technology to operate our business, including our supply chain and retail operations, and any failure, inadequacy or interruption of that technology could harm our ability to effectively operate our business.
  • We are subject to the risk our licensees may not generate expected sales or maintain the value of our brands.
  • Consolidation of retailers or concentration of retail market share among a few retailers may increase and concentrate our credit risk and impair our ability to sell products.
  • If one or more of our counterparty financial institutions default on their obligations to us or fail, we may incur significant losses.
  • We rely on a concentrated source base of contract manufacturers to supply a significant portion of our footwear products.
  • The market for prime real estate is competitive.
  • The success of our business depends, in part, on high-quality employees, including key personnel as well as our ability to maintain our workplace culture and values.
  • Our business operations and financial performance could be adversely affected by changes in our relationship with our workforce or changes to United States or foreign employment regulations.
  • Our international operations involve inherent risks which could result in harm to our business.
  • Our products are subject to risks associated with overseas sourcing, manufacturing and financing.
  • Our success depends on our global distribution facilities.
  • We are subject to a complex array of laws and regulations and litigation and other legal and regulatory proceedings, which could have an adverse effect on our business, financial condition and results of operations.
  • Changes to U.S. or other countries' trade policies and tariff and import/export regulations or our failure to comply with such regulations may have a material adverse effect on our reputation, business, financial condition and results of operations.
  • Failure to adequately protect or enforce our intellectual property rights could adversely affect our business.
  • We are subject to data security and privacy risks that could negatively affect our results, operations or reputation.
  • We could be subject to changes in tax rates, adoption of new tax laws, additional tax liabilities or increased volatility in our effective tax rate.
  • Failure of our contractors or our licensees' contractors to comply with our code of conduct, local laws and other standards could harm our business.
  • Our financial results may be adversely affected if substantial investments in businesses and operations fail to produce expected returns.
  • The sale of a large number of shares of common stock by our principal stockholder could depress the market price of our common stock.
  • Changes in our credit ratings or macroeconomic conditions may affect our liquidity, increasing borrowing costs and limiting our financing options.
  • If our internal controls are ineffective, our operating results could be adversely affected.
  • If our estimates or judgments relating to our critical accounting estimates prove to be incorrect, our operating results could be adversely affected.
  • Anti-takeover provisions may impair an acquisition of the Company or reduce the price of our common stock.
  • We may fail to meet market expectations, which could cause the price of our stock to decline.
Management Discussion
  • In fiscal 2022, NIKE, Inc. achieved record Revenues of $46.7 billion, which increased 5% and 6% on a reported and currency-neutral basis, respectively, driven by higher revenues in EMEA, North America and APLA, partially offset by declines in Greater China. The NIKE Brand, which represents over 90% of NIKE, Inc. Revenues, increased 5% and 6% on a reported and currency-neutral basis, respectively, compared to fiscal 2021. NIKE Direct grew 14% and 15%, on a reported and currency-neutral basis, respectively, driven by an increase of 18% in NIKE Brand Digital, as growth in North America, APLA and EMEA was partially offset by a decline in Greater China. Wholesale revenues declined 1% as declines in North America and Greater China were partially offset by growth in EMEA and APLA. Revenues for Converse increased 6% and 7%, on a reported and currency-neutral basis, respectively, led by double-digit growth in our direct to consumer business, partially offset by lower wholesale revenues.

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