NYSE$NKE

NIKE · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Nike's Q4 2021 results reflected a strong recovery and growth, driven by digital sales and the normalization of retail operations after COVID-19 impacts.

Nike reported a significant increase in revenue for Q4 2021, with diluted earnings per share of $0.93. The company's growth was fueled by strong digital sales and the recovery of physical retail operations. Gross margin also saw a substantial increase. Full year revenue increased 19 percent to $44.5 billion.

  • Fourth quarter revenues increased by 96% compared to the prior year, reaching $12.3 billion.
  • NIKE Direct sales for the fourth quarter rose by 73% to $4.5 billion.
  • Gross margin for the fourth quarter increased by 850 basis points to 45.8 percent.
  • Diluted earnings per share for the fourth quarter was $0.93.

Headline financials

Total Revenue

$12.3B

Previous: $6.3B+95.2%
EPS (adj)

$0.93

Previous: -$0.51+282.4%
Gross Margin

45.8%

Previous: 37.3%+22.8%
Demand Creation Expense

$997M

Previous: $823M+21.1%
Operating Overhead Expense

$2.75B

Previous: $2.37B+15.9%
Effective Tax Rate

18.6%

Previous: 1.7%+994.1%
Capital Expenditures

$174M

Previous: $289M-39.8%
Free Cash Flow

$1.84B

Previous: -$290M+733.8%
Net Income

$1.5B

Previous: -$790M+289.9%
Operating Income

$1.92B

Previous: -$804M+338.4%
Gross Profit

$5.66B

Previous: $2.35B+140.3%
Cash & Equivalents

$9.89B

Previous: $8.35B+18.5%
Total Assets

$37.7B

Previous: $31.3B+20.4%
Stock-Based Comp

$144M

Previous: $126M+14.3%

Revenue & EPS history

Nike · Revenue · Quarterly

$12.3B

Q4 2021+95.2%vs Q4 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Nike · $12.4B total across 2 segments · Q4 2021

  • NIKE Brand
    $11.8B
  • Converse
    $596M

Forward guidance

The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.5%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+1.3%

Avg return

30 days after

56%

40 / 72 earnings

Positive

+25.8%

Q3 2020

Best reaction

-19.9%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026
Q3 2026-6.0%-6.4%
Q2 2026-5.3%-8.6%-1.9%
Q1 2026+4.9%+2.1%-7.4%
Q4 2025+0.2%+2.8%+6.9%
Q3 2025-5.5%-8.5%-22.4%
Q2 2025+0.1%-0.1%-7.9%
Q1 2025-6.0%-7.0%-12.7%
Q4 2024-19.9%-19.2%-22.9%
Q3 2024-6.4%-7.7%-5.7%
Q2 2024-11.0%-11.0%-16.2%
Q1 2024+6.9%+6.3%+9.6%
Q4 2023-2.4%-3.5%-3.9%
Q3 2023-1.4%-0.4%+2.7%
Q2 2023+12.4%+12.8%+20.8%
Q1 2023-15.8%-10.2%-4.9%
Q4 2022-9.0%-10.4%-4.5%
Q3 2022+1.4%+1.9%+3.5%
Q2 2022+3.3%+2.7%-10.1%
Q1 2022-5.0%-7.7%+3.8%
Q4 2021+16.0%+17.2%+25.0%
Q3 2021-5.1%-5.3%-7.3%
Q2 2021+2.5%+0.9%+0.2%
Q1 2021+12.1%+9.6%+14.7%
Q4 2020-6.4%-2.0%-1.6%
Q3 2020+25.8%+32.5%+39.1%
Q2 2020-0.6%-0.4%+3.9%
Q1 2020+3.6%+5.3%+4.3%
Q4 2019+1.7%+2.9%+6.0%
Q3 2019-5.2%-3.8%+2.9%
Q2 2019+4.9%-1.3%+16.6%
Q1 2019-0.7%+0.5%-13.3%
Q4 2018+11.7%+6.9%+7.8%
Q3 2018-2.6%-0.3%-0.4%
Q2 2018-0.5%+0.1%+5.7%
Q1 2018-1.1%-2.6%+6.7%
Q4 2017+10.6%+9.9%+10.0%
Q3 2017-8.1%-4.0%-3.9%
Q2 2017+2.9%+2.1%+4.1%
Q1 2017-2.1%-3.2%-4.6%
Q4 2016+6.2%+7.2%+6.9%
Q3 2016-3.5%
Q2 2016-0.8%
Q1 2016+8.3%
Q4 2015+3.3%
Q3 2015+4.6%
Q2 2015+0.4%
Q1 2015+10.7%
Q4 2014+1.6%
Q3 2014-5.0%
Q2 2014-1.6%
Q1 2014+6.8%
Q4 2013+2.9%
Q3 2013+8.6%
Q2 2013+7.5%
Q1 2013-0.6%
Q4 2012-10.5%
Q3 2012-2.7%
Q2 2012+3.2%
Q1 2012+3.4%
Q2 2011-1.0%
Q4 2011-1.0%
Q3 2011+0.2%
Q1 2011-0.4%
Q4 2010+1.5%
Q3 2010+0.1%
Q3 2009+0.1%
Q2 2009+0.4%
Q2 2010+0.4%
Q1 2010+0.3%
Q4 2009+0.3%
Q4 2008+0.3%
Q1 2009+0.3%

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