Short answer
Nike, Inc. (NKE) filed its fiscal 2025 10-K annual report with the SEC on Jul 17, 2025. It reported revenue of $46.3B (−9.8% year over year) and net income of $3.2B.
- Top risk flagged: Regulatory tax risk: Implementation of The One Big Beautiful Bill Act of 2025 affecting U.S. corporate income tax, impacting fiscal 2026 onwards
FY2025 key financial metrics · XBRL
- Revenue
- $46.3B
- −9.8% YoY
- Net income
- $3.2B
- −43.5% YoY
- Gross margin
- 42.7%
- −1.8 pp YoY
- EPS (diluted)
- $2.16
- −42.1% YoY
- ROE
- 24.4%
- −15.1 pp YoY
- Operating cash flow
- $3.7B
- −50.2% YoY
Source: XBRL data from the Nike, Inc. (NKE) FY2025 10-K on SEC EDGAR. USD.
Nike, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design, marketing, and selling athletic footwear, apparel, equipment, and accessories
- No new products, services, or business segments introduced or highlighted in this year's filing
- No strategic shifts or major changes in competitive positioning reported vs prior year
- No quantitative business metrics disclosed in the Business section of this filing
- Filing primarily references incorporation by reference to Proxy Statement; lacks direct substantive business description or update
Management Discussion & Analysis
- Revenue and YoY change not explicitly stated in the provided text
- Expected gross margin negative impact in fiscal 2026 due to new tariffs; no current year margin % disclosed
- No segment-specific performance numbers disclosed
- Management expects tariff-related cost increases and margin pressure in 2026; focused on product, marketplace, and brand initiatives to drive long-term value
Risk Factors
- Regulatory tax risk: Implementation of The One Big Beautiful Bill Act of 2025 affecting U.S. corporate income tax, impacting fiscal 2026 onwards
- Macroeconomic exposure: Greater China revenue down 12% currency-neutral; EBIT down 31% reflecting regional demand decline and market challenges
- Supply chain vulnerability: Gross margin contraction by 420 bps in Greater China due to higher inventory obsolescence reserves
- Competitive risk: NIKE Brand digital sales declined 20% YoY, indicating increasing market disruption in digital retail channels
- Financial risk: EBIT margin declined from 12.7% to 8.2% in fiscal 2025, showing significant margin pressure amid revenue decreases
Generated from the filing text; verify against the original. How to read a 10-K
Other Nike, Inc. annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.