Nike quarterly report. Active stocks - Gap NIKE - income statement and balance sheet analysis
And tomorrow we will continue to figure out why NIKE is better than competitors.
From the income statement
- Revenue increased by 5% to $8.4bn versus the expected $8.22bn, almost 14% in constant currency.
- NIKE brand sales amounted to $7.9 billion, almost 15% growth in constant currency, driven by growth in every geographic and nearly every key category.
- Sales by Converse amounted to $555 million, up to 3% in constant currency, thanks to strong growth in the US, which offset the fall in the UK.
- Gross margin (gross margin = revenue minus , as a percentage of total sales revenue) increased to 47.5% . Growth was primarily driven by an increase in average prices and continued growth in higher margins in the Direct to Consumer segment, partly offset by higher production and storage costs.
- and SG&A rose 4% to $2.6 billion. Demand generation costs decreased 7% to $832 million, reflecting a favorable change from strong investment in support of the World Cup in the first quarter of fiscal 2015.
- Other amounted to $31 million, primarily including foreign exchange gains.
- Effective amounted 18.4% , up from 21.7% in the same period a year earlier, primarily due to a proportion of non-US revenues that is generally less taxed, as well as some lump sums in the past quarter.
- grew by 23% before $1.18 billion, earnings per diluted share increased by 23% before $1.34 , against the expected $1.19 , reflecting strong growth in revenue, gross margin, smart use of marketing and administrative resources, tax rate cuts and a decrease in the number of shares outstanding.
From the company's balance sheet
- Inventory amounted to $4.4 billion, growth on 10% compared to August 31, 2014, was the result of an 8% increase in stocks for the NIKE brand in the wholesale segment. Thus increasing the cost of the product per unit. Inventories also increased in the "Delivery to customer" segment. These negative factors were largely offset by changes in exchange rates.
- Cash and made up $5.4 billion, for $829 million higher than a year earlier, as a result of high profits and collateral received from counterparties (from hedging operations), more than offsetting higher dividends.
In the first quarter, NIKE bought back 5.5 million shares for $588 million as part of a four-year $8.0 billion buyback program adopted in 2012. By the end of the first quarter, a total of 86.4 million shares were repurchased for approximately $6.5 billion, average price $75.70.
Future Orders
Future orders for the NIKE brand of sports shoes and apparel from September 2015 to January 2016 are 9% higher than orders for the same period last year, and 17% higher in constant currency.
"Fiscal 2016 is off to a great start," said Mark Parker, President and CEO of NIKE. "Our relentless growth rate is driven by a proven customer first strategy, our obsession with innovation in everything we do and our vast experience. We are well positioned to continue long-term growth that is sustainable and profitable."
Immediately after the report, on Thursday post-market, the company instantly grows by 6%. In the morning after the opening, they kept the level of 123.00 and after that they increased by almost 3 points. Incredibly beautiful and the idea itself, based on the continuation of growth towards the gap after holding the level, on the strength of the crowd. The level of 125.80 turned out to be insurmountable for the stock, although it did not go for a correction either. No doubt in the game on Monday.
Full name: LLC "NIK"
TIN: 7448014344
Type of activity (according to OKVED): 68.32.2 - Management of the operation of non-residential stock for a fee or on a contract basis
Form of ownership: 16 - Private property
Legal form: 12300 - Limited liability companies
Reporting is done in thousand rubles
See detailed verification of the counterparty
Accounting statements for 2012-2017
1. Balance sheet
| Name of indicator | The code | #DATE# |
|---|---|---|
| ASSETS | ||
| I. NON-CURRENT ASSETS | ||
| Intangible assets | 1110 | #1110# |
| Research and development results | 1120 | #1120# |
| Intangible search assets | 1130 | #1130# |
| Tangible Exploration Assets | 1140 | #1140# |
| fixed assets | 1150 | #1150# |
| Profitable investments in material values | 1160 | #1160# |
| Financial investments | 1170 | #1170# |
| Deferred tax assets | 1180 | #1180# |
| Other noncurrent assets | 1190 | #1190# |
| Total for Section I | 1100 | #1100# |
| II. CURRENT ASSETS | ||
| Stocks | 1210 | #1210# |
| Value added tax on acquired valuables | 1220 | #1220# |
| Receivables | 1230 | #1230# |
| Financial investments (excluding cash equivalents) | 1240 | #1240# |
| Cash and cash equivalents | 1250 | #1250# |
| Other current assets | 1260 | #1260# |
| Total for Section II | 1200 | #1200# |
| BALANCE | 1600 | #1600# |
| LIABILITY | ||
| III. CAPITAL AND RESERVES | ||
| Authorized capital (share capital, authorized fund, contributions of comrades) | 1310 | #1310# |
| Own shares repurchased from shareholders | 1320 | #1320# |
| Revaluation of non-current assets | 1340 | #1340# |
| Additional capital (without revaluation) | 1350 | #1350# |
| Reserve capital | 1360 | #1360# |
| Retained earnings (uncovered loss) | 1370 | #1370# |
| Total for Section III | 1300 | #1300# |
| IV. LONG TERM DUTIES | ||
| Borrowed funds | 1410 | #1410# |
| Deferred tax liabilities | 1420 | #1420# |
| Estimated liabilities | 1430 | #1430# |
| Other liabilities | 1450 | #1450# |
| Total for section IV | 1400 | #1400# |
| V. SHORT-TERM LIABILITIES | ||
| Borrowed funds | 1510 | #1510# |
| Accounts payable | 1520 | #1520# |
| revenue of the future periods | 1530 | #1530# |
| Estimated liabilities | 1540 | #1540# |
| Other liabilities | 1550 | #1550# |
| Section V total | 1500 | #1500# |
| BALANCE | 1700 | #1700# |
Brief balance sheet analysis
Graph of changes in non-current assets, total assets and capital and reserves by years
| financial indicator | 31.12.2012 | 31.12.2013 | 31.12.2014 | 31.12.2015 | 31.12.2016 | 31.12.2017 |
|---|---|---|---|---|---|---|
| Net assets 1 | 61033 | 60370 | 25775 | 6424 | 6324 | 6322 |
| Autonomy coefficient (norm: 0.5 or more) | 0.91 | 0.9 | 0.76 | 0.59 | 0.54 | 0.54 |
| Current liquidity ratio (norm: 1.5-2 and above) | 5.7 | 5 | 0.1 | 0 | 0.1 | 0.1 |
1 excluding the debt of the founders on contributions to the authorized capital
2. Profit and loss statement
| Name of indicator | The code | #PERIOD# |
|---|---|---|
| Revenue | 2110 | #2110# |
| Cost of sales | 2120 | #2120# |
| Gross profit (loss) | 2100 | #2100# |
| Selling expenses | 2210 | #2210# |
| Management expenses | 2220 | #2220# |
| Profit (loss) from sales | 2200 | #2200# |
| Income from participation in other organizations | 2310 | #2310# |
| Interest receivable | 2320 | #2320# |
| Percentage to be paid | 2330 | #2330# |
| Other income | 2340 | #2340# |
| other expenses | 2350 | #2350# |
| Profit (loss) before tax | 2300 | #2300# |
| Current income tax | 2410 | #2410# |
| including permanent tax liabilities (assets) | 2421 | #2421# |
| Change in deferred tax liabilities | 2430 | #2430# |
| Change in deferred tax assets | 2450 | #2450# |
| Other | 2460 | #2460# |
| Net income (loss) | 2400 | #2400# |
| FOR REFERENCE | ||
| Result from the revaluation of non-current assets, not included in the net profit (loss) of the period | 2510 | #2510# |
| Result from other operations, not included in the net profit (loss) of the period | 2520 | #2520# |
| Cumulative financial result of the period | 2500 | #2500# |
Brief analysis of financial results
Schedule of changes in revenue and net profit by years
| financial indicator | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|
| EBIT | 0 | 0 | 0 | 0 | 0 |
| Profitability of sales (profit from sales in each ruble of revenue) | - | - | - | - | - |
| Return on equity (ROE) | 0% | 0% | 0% | 0% | 0% |
| Return on assets (ROA) | 0% | 0% | 0% | 0% | 0% |
4. Cash flow statement
| Name of indicator | The code | #PERIOD# |
|---|---|---|
| Cash flows from current operations | ||
| Income - total | 4110 | #4110# |
| including: from the sale of products, goods, works and services |
4111 | #4111# |
| lease payments, license payments, royalties, commissions and other similar payments | 4112 | #4112# |
| from the resale of financial investments | 4113 | #4113# |
| other supply | 4119 | #4119# |
| Payments - total | 4120 | #4120# |
| including: to suppliers (contractors) for raw materials, materials, works, services |
4121 | #4121# |
| in connection with the remuneration of employees | 4122 | #4122# |
| interest on debt obligations | 4123 | #4123# |
| corporate income tax | 4124 | #4124# |
| other payments | 4129 | #4129# |
| Balance of cash flows from current operations | 4100 | #4100# |
| Cash flows from investment operations | ||
| Income - total | 4210 | #4210# |
| including: from the sale of non-current assets (except for financial investments) |
4211 | #4211# |
| from the sale of shares of other organizations (participatory interests) | 4212 | #4212# |
| from the return of loans granted, from the sale of debt valuable papers(rights to demand money from other persons) | 4213 | #4213# |
| dividends, interest on debt financial investments and similar income from equity participation in other organizations | 4214 | #4214# |
| other supply | 4219 | #4219# |
| Payments - total | 4220 | #4220# |
| including: in connection with the acquisition, creation, modernization, reconstruction and preparation for the use of non-current assets |
4221 | #4221# |
| in connection with the acquisition of shares of other organizations (participation interests) | 4222 | #4222# |
| in connection with the acquisition of debt securities (the rights to claim funds from other persons), the provision of loans to other persons | 4223 | #4223# |
| interest on debt obligations included in the cost of an investment asset | 4224 | #4224# |
| other payments | 4229 | #4229# |
| Balance of cash flows from investment operations | 4200 | #4200# |
| Cash flows from financial transactions | ||
| Income - total | 4310 | #4310# |
| including: obtaining credits and loans |
4311 | #4311# |
| cash deposits of owners (participants) | 4312 | #4312# |
| from issuance of shares, increase in participation | 4313 | #4313# |
| from the issuance of bonds, bills of exchange and other debt securities, etc. | 4314 | #4314# |
| other supply | 4319 | #4319# |
| Payments - total | 4320 | #4320# |
| including: owners (participants) in connection with the redemption of shares (participatory interests) of the organization from them or their withdrawal from the membership |
4321 | #4321# |
| to pay dividends and other payments | 4322 | #4322# |
| on the distribution of profits in favor of the owners (participants) in connection with the redemption (repurchase) of bills of exchange and other debt securities, the return of loans and borrowings | 4323 | #4323# |
| other payments | 4329 | #4329# |
| Balance of cash flows from financial operations | 4300 | #4300# |
| Balance of cash flows for the reporting period | 4400 | #4400# |
| Balance of cash and cash equivalents at the beginning of the reporting period | 4450 | #4450# |
| Balance of cash and cash equivalents at the end of the reporting period | 4500 | #4500# |
| The magnitude of the impact of changes in the foreign exchange rate against the ruble | 4490 | #4490# |
6. Report on the intended use of funds
| Name of indicator | The code | #PERIOD# |
|---|---|---|
| Balance at the beginning of the reporting year | 6100 | #6100# |
| Funds received | ||
| Entry fees | 6210 | #6210# |
| Membership fee | 6215 | #6215# |
| earmarked contributions | 6220 | #6220# |
| Voluntary property contributions and donations | 6230 | #6230# |
| Profit from income-generating activities of the organization | 6240 | #6240# |
| Other | 6250 | #6250# |
| Total funds received | 6200 | #6200# |
| Funds used | ||
| Expenses for targeted activities | 6310 | #6310# |
| including: | ||
| social and charitable assistance | 6311 | #6311# |
| holding conferences, meetings, seminars, etc. | 6312 | #6312# |
| other events | 6313 | #6313# |
| The cost of maintaining the administrative apparatus | 6320 | #6320# |
| including: | ||
| payroll expenses (including accruals) | 6321 | #6321# |
| payments not related to wages | 6322 | #6322# |
| travel and business travel expenses | 6323 | #6323# |
| maintenance of premises, buildings, vehicles and other property (except for repairs) | 6324 | #6324# |
| repair of fixed assets and other property | 6325 | #6325# |
| others | 6326 | #6326# |
| Acquisition of fixed assets, inventory and other property | 6330 | #6330# |
| Other | 6350 | #6350# |
| Total funds used | 6300 | #6300# |
| Balance at the end of the reporting year | 6400 | #6400# |
No data for this period
| Name of indicator | The code | Authorized capital | own shares, purchased from shareholders |
Extra capital | Reserve capital | Undestributed profits (uncovered loss) |
Total |
|---|---|---|---|---|---|---|---|
| The amount of capital on | 3200 | ||||||
| Behind Capital increase - total: |
3310 | ||||||
| including: net profit |
3311 | X | X | X | X | ||
| property revaluation | 3312 | X | X | X | |||
| income attributable directly to capital increases | 3313 | X | X | X | |||
| additional issue of shares | 3314 | X | X | ||||
| increase in the par value of shares | 3315 | X | X | ||||
| 3316 | |||||||
| Decrease in capital - total: | 3320 | ||||||
| including: lesion |
3321 | X | X | X | X | ||
| property revaluation | 3322 | X | X | X | |||
| expenses attributable directly to depreciation of capital | 3323 | X | X | X | |||
| depreciation of shares | 3324 | X | |||||
| reduction in the number of shares | 3325 | X | |||||
| reorganization of a legal entity | 3326 | ||||||
| dividends | 3327 | X | X | X | X | ||
| Change in additional capital | 3330 | X | X | X | |||
| Change in reserve capital | 3340 | X | X | X | X | ||
| The amount of capital on | 3300 |
Additional checks
Check counterparty Download data for financial analysis
* An asterisk indicates indicators that are adjusted in comparison with Rosstat data. The adjustment is necessary to eliminate obvious formal inconsistencies in reporting indicators (difference in the sum of lines with the final value, typos) and is carried out according to an algorithm specially developed by us.
Reference: The financial statements are presented according to Rosstat data, disclosed in accordance with the legislation of the Russian Federation. The accuracy of the given data depends on the accuracy of the data submission to Rosstat and the processing of these data by the statistical agency. When using this reporting, we strongly recommend that you check the figures with the data of the paper (electronic) copy of the reporting posted on the official website of the organization or received from the organization itself. The financial analysis of the presented data is not part of the Rosstat information and is performed using a specialized
Nike said after the close of trading on Tuesday that despite an 18 percent rise in revenue, profits rose only 3 percent as higher production costs dragged down gross margin. Both revenue and earnings beat analysts' forecasts.
In the second quarter, Nike's net income rose 3% to $469 million from $457 million in the same period last year. Earnings per share rose 6% to $1 from $0.94 last year, reflecting the company's share buyback. Analysts polled by Thomson Reuters had expected earnings of $0.97 per share.
Nike's revenue for the quarter rose 18% to $5.731 billion, up from $4.842 billion last year. Analysts predicted revenue growth to 5.63 billion dollars.
Excluding exchange rate fluctuations, the company's revenue grew by 16% compared to last year. NIKE brand revenue grew 18% in all regions except Japan and in all key product categories except for Action Sports.
Other company-owned businesses increased revenue by 5% with minimal exposure to currency fluctuations. Converse's revenue growth was higher than the decline in revenue for NIKE Golf, Cole Haan, Hurley and Umbro.
Gross profit for the quarter decreased to 42.7% from 45.3% last year, primarily due to higher production costs. The increase in costs outweighed any positive impact from sales growth, price increases and ongoing cost reduction initiatives.
AT North America, Nike's largest market, excluding currency pairs, revenue increased by 21%. Based on this, in Western Europe revenue grew by 2%, in Central and Eastern Europe by 19%, in China by 28%, in emerging markets by 26%. Only Japan recorded a 7% decline in revenue.
Cash and short-term investments were $3.4 billion, down $1.4 billion from last year, as higher investment in working capital reduced free cash flow from operations. Other drivers of capital decline are: share repurchases, dividend payments and long-term debt payments.
In the second quarter, under a four-year $5 billion share repurchase program approved in 2008, Nike purchased 7.6 million shares worth $672 million. As of the end of the quarter, the program had repurchased a total of 45.6 million shares worth about $3.6 billion.
As of the end of the second quarter, international orders for Nike's future products were $8.9 billion, up 13% from the end of the same quarter last year. The orders are planned to be delivered from December 2011 to April 2012.
At the close of trading on Tuesday, Nike shares traded at $93.61, up 21 cents from the previous day. After the publication of the report, the company's shares soared in price by 3% and reached a price mark of $96.9. Throughout the year, Nike stock, which is listed on the NYSE, traded in a range of $69.43 to $98.25.
Name of organization Limited Liability Company "NAIK" INN 7448014344 Code of the type of economic activity according to the OKVED classifier 70.20.2 - Code according to OKPO 42475546 Form of ownership (according to OKFS) 16 - Private ownership Form of incorporation (according to OKOPF) 12300 - Limited liability companies Report type 1 - Small business Unit of measurement 384 - Thousand rubles
Reporting for other yearsZero lines are hidden for ease of reporting.
Balance sheet
| Name of indicator | Line code | As of December 31, 2015 | As at 31 December 2014 |
| Assets | |||
| I. Non-current assets | |||
| fixed assets | 1150 | 10 844 | 9 852 |
| Financial investments | 1170 | 0 | 23 009 |
| Total for Section I | 1100 | 10 844 | 32 861 |
| II. current assets | |||
| Receivables | 1230 | 0 | 816 |
| Cash and cash equivalents | 1250 | 7 | 118 |
| Total for Section II | 1200 | 7 | 934 |
| BALANCE | 1600 | 10 851 | 33 795 |
| Passive | |||
| III. Capital and reserves | |||
| Total for Section III | 1300 | 6 424 | 25 775 |
| IV. LONG TERM DUTIES | |||
| Borrowed funds | 1410 | 0 | 79 |
| Total for section IV | 1400 | 0 | 79 |
| V. SHORT-TERM LIABILITIES | |||
| Borrowed funds | 1510 | 233 | 0 |
| Accounts payable | 1520 | 71 | 3 818 |
| Other liabilities | 1550 | 4 123 | 4 123 |
| Section V total | 1500 | 4 427 | 7 941 |
| BALANCE | 1700 | 10 851 | 33 795 |
Income statement
| Name of indicator | Line code | For 2015 | For 2014 |
| Revenue Revenue is shown net of value added tax and excises. |
2110 | 0 | 604 |
| Cost of sales | 2120 | (37) | (1 121) |
| Gross profit (loss) | 2100 | -37 | -517 |
| Profit (loss) from sales | 2200 | -37 | -517 |
| Other income | 2340 | 0 | 164 |
| other expenses | 2350 | (19 257) | (34 225) |
| Profit (loss) before tax | 2300 | -19 294 | -34 578 |
| Current income tax | 2410 | (57) | (17) |
| Net income (loss) | 2400 | -19 351 | -34 595 |
The information is generated from a set of open data "Accounting (financial) statements of enterprises and organizations for 2015" Federal Service state statistics (Rosstat)
