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Tools · NKE

NIKE, Inc., taken apart.

Four panels built from the reported annual accounts, then the rest of the engine. Every figure below is NIKE, Inc.’s own filing, not an estimate of ours.

Income statement, four years

Read across, not down. Each line is shown for four fiscal years, so the direction matters more than any single column.

NIKE, Inc. annual income statement, as reported. Columns are fiscal years, most recent first.
LineFY2026FY2025FY2024FY2023
Revenue$46.40B$46.31B$51.36B$51.22B
Cost of revenue$26.49B$26.52B$28.48B$28.93B
Gross profit$19.91B$19.79B$22.89B$22.29B
Operating expenses$16.11B$16.09B$16.58B$16.38B
Operating income$3.80B$3.70B$6.31B$5.92B
Net income$3.11B$3.22B$5.70B$5.07B
Diluted EPS2.102.163.733.23

Net income moved -38.7% across these years while earnings per share moved -35.0% — more than the profit itself, because the share count changed. Profit split fewer ways is not the same as more profit.

The rest of the engine

The panels above are built from filings. These run against the live engine.