Nike, Inc. (NKE) Q3 2025 10-Q Quarterly Report
Nike, Inc. (NKE) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 1, 2025 for the fiscal period ending Aug 31, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Nike, Inc. Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue impact from foreign exchange translation benefited consolidated Revenues by ~$213M for Q1 FY2025
- • Income before tax benefited ~$54M from foreign exchange translation and $17M from currency-related gains/losses YTD Aug 31, 2025
- • Cash from operations $222M in Q1 FY2025, down $172M YoY ($394M in Q1 FY2024) due to $239M lower net income adjusted for non-cash items
- • Share repurchases slowed with $123M spent on 1.8M shares in Q1 FY2026; total $12.1B spent for 124.4M shares under $18B authorized program
- • Cash & equivalents plus short-term investments $8.6B as of Aug 31, 2025, liquidity and capital resources deemed sufficient for next 12 months and beyond
Risk Factors
- • New risk: Negative financial impact from product and marketplace repositioning actions, including inventory liquidations and increased markdowns, expected to continue variably by segment
- • Updated operational risk: Gross margin contraction 320 bps driven by higher tariffs, lower average selling price, and higher discounts, reflecting worsening cost pressures
- • Regulatory risk: Increased effective tax rate to 21.1% from 19.6% due to reduced stock-based compensation benefits
- • Competitive risk: Declining digital sales (-12% currency-neutral) and comparable store sales (-1%) in NIKE Direct, risking near-term revenue growth
- • Financial risk: Foreign currency fluctuations causing a $23 million expense vs $55 million income prior year, impacting other (income) expense line
Nike, Inc. Q3 2025 Quarterly FinancialsXBRL
Revenue
$11.7B
▲ +1.1% YoY
Net Income
$727M
▼ -30.8% YoY
Net Margin
6.2%
▼ -287bp YoY
Source: XBRL data from Nike, Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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