Short answer
Nike, Inc. (NKE) filed its Q3 2025 10-Q quarterly report on Oct 1, 2025 for the quarter ended Aug 31, 2025. Quarterly revenue was $11.7B (up 1.1% year over year) with net income of $727M.
Q3 2025 key financials · XBRL
- Revenue
- $11.7B
- +1.1% YoY
- Net income
- $727M
- −30.8% YoY
- Gross margin
- 42.2%
- EPS (diluted)
- $0.49
- −30.0% YoY
Source: XBRL data from the Nike, Inc. (NKE) Q3 2025 10-Q on SEC EDGAR. USD.
Nike, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
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
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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