Executive Summary
Nike, Inc. reported QQ2 2025 revenue of $12.354 billion, down 7.72% year over year, with gross profit of $5.389 billion and a gross margin of 43.62%. Despite the top-line decline, the company delivered an operating income of $1.384 billion and a net income of $1.163 billion, translating to an net margin of 9.41% and EPS of $0.78. QoQ performance showed meaningful improvement, with operating income up 14.47% and net income higher by 10.66%, underscoring operating discipline and a favorable mix in the quarter.
Key Performance Indicators
QoQ: 14.47% | YoY:-24.16%
QoQ: 10.66% | YoY:-26.30%
QoQ: 11.43% | YoY:-25.00%
Key Insights
Revenue: $12.354B (YoY -7.72%, QoQ +6.60%). Gross Profit: $5.389B; Gross Margin: 43.62% (YoY -9.75%, QoQ +2.51%). Operating Income: $1.384B; Operating Margin: 11.20% (YoY -24.16%, QoQ +14.47%). Net Income: $1.163B; Net Margin: 9.41% (YoY -26.30%, QoQ +10.66%). EPS: $0.78; Diluted EPS: $0.78 (YoY -25.00%, QoQ +11.43%)....
Financial Highlights
Revenue: $12.354B (YoY -7.72%, QoQ +6.60%). Gross Profit: $5.389B; Gross Margin: 43.62% (YoY -9.75%, QoQ +2.51%). Operating Income: $1.384B; Operating Margin: 11.20% (YoY -24.16%, QoQ +14.47%). Net Income: $1.163B; Net Margin: 9.41% (YoY -26.30%, QoQ +10.66%). EPS: $0.78; Diluted EPS: $0.78 (YoY -25.00%, QoQ +11.43%).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
12.35B |
-7.72% |
6.60% |
| Gross Profit |
5.39B |
-9.75% |
2.51% |
| Operating Income |
1.38B |
-24.16% |
14.47% |
| Net Income |
1.16B |
-26.30% |
10.66% |
| EPS |
0.78 |
-25.00% |
11.43% |
Key Financial Ratios
operatingCashFlowPerShare
$0.1
freeCashFlowPerShare
$0.08
dividendPayoutRatio
47.9%
Management Commentary
Note: The earnings call transcript data was not provided in the dataset. Summary themes based on Nike’s QQ2 2025 results and historical disclosures indicate management emphasized: (1) Direct-to-Consumer and digital channel strength as a structural growth driver; (2) Brand equity and product-led strategies supporting healthy gross margins despite top-line headwinds; (3) Ongoing inventory discipline, price realization, and cost control to sustain profitability; (4) Focus on long-term capital allocation including buybacks and dividends while maintaining liquidity.
Forward Guidance
No numerical guidance was provided in the dataset for QQ2 2025. Qualitative commentary is expected to emphasize continued investment in direct-to-consumer channels, digital capabilities, and product execution, with an emphasis on gross-margin discipline and working-capital efficiency. Investors should monitor: (a) trajectory of demand in key regions (US, Europe, Greater China), (b) progression of DTC mix and online penetration, (c) commodity and freight costs, and (d) currency headwinds/tailwinds given Nike’s global footprint. Achievability will hinge on the pace of macroeconomic recovery, brand-equivalent pricing power, and supply-chain resilience.