Filing Flows › Nike (NKE) › Q3 FY25
Nike (NKE) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Apr 3, 2025
Nike (NKE) reported revenue of $11.3B for the third quarter fiscal 2025 (Q3 FY25), -9% from a year earlier and -9% from the quarter before. Operating margin was 7.5%, net earnings $794M (7.0% of revenue).
Nike, Q3 FY25: revenue $11.3B (-9% year over year), operating margin 7.5%, net earnings $794M, operating cash flow $1.8B. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.3B | -9% | -9% |
| Gross profit | $4.7B | -13% | -16% |
| Operating profit | $844M | -40% | -40% |
| Net earnings | $794M | -32% | -32% |
| Operating cash flow | $1.8B | +71% | -13% |
| Free cash flow | $1.7B | +86% | -11% |
What changed
Revenue was $11.3B in Q3 FY25, down 9% year over year and down 9% from the previous quarter. Footwear was the largest line at 67% of revenue. Footwear lost $1.0B year over year (down 12%), 89% of the total change.
Gross margin was 41.5%, down 3.3 points from a year earlier. Operating profit was $0.84B, a 7.5% margin (down 3.8 points year over year). Operating expenses fell 8% while revenue fell 9%. Net earnings were $0.79B, down 32% year over year. The effective tax rate was 5.9%.
Operating cash flow was $1.8B (down 13% year over year), 226% of net earnings. Non-cash charges added back $0.20B of depreciation and $0.17B of share-based compensation. Working capital and other items added $0.63B. Capital expenditures of $0.08B left free cash flow of $1.7B.
Questions
What was Nike's revenue in the third quarter fiscal 2025?
Nike (NKE) reported revenue of $11.3B for the third quarter fiscal 2025 (Q3 FY25), -9% from a year earlier and -9% from the quarter before.
Was Nike profitable in the third quarter fiscal 2025?
Operating profit was $844M (7.5% of revenue) and net earnings $794M.
Source: Nike 10-Q on SEC EDGAR.