Nike Intrinsic Stock Value – NIKE Reports Profitable Second Quarter Earnings for 2024 Fiscal Year
December 26, 2023
☀️Earnings Overview
NIKE ($NYSE:NKE) disclosed their second quarter 2024 fiscal year earnings results (ending November 30, 2023) on December 21, 2023. Revenue for the quarter amounted to USD 13.4 billion, showing a year-over-year increase of 0.5%. Their net income for the period was USD 1.6 billion, a 18.8% growth compared to the same quarter of the previous year.
Price History
On Thursday, NIKE reported its second quarter profit for the 2024 fiscal year. The company’s stock opened at $122.3 and closed at $122.5, up by 0.9% from the prior closing price of 121.4. This marks a successful quarter for NIKE, with a steady showing of profitability despite the current pandemic-induced economic hardship.
This marks a major move for the company, demonstrating its commitment to not only maintaining its profitability, but also in rewarding its shareholders for their support over the past year. Overall, it is clear that NIKE is making significant progress as it continues to adapt to the changing economic landscape and stands ready to capitalize on its immense potential for growth in the coming year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nike. More…
| Total Revenues | Net Income | Net Margin |
| 51.54k | 5.3k | 10.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nike. More…
| Operations | Investing | Financing |
| 5.42k | 564 | -7.45k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nike. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 37.2k | 23.06k | 9.18 |
Key Ratios Snapshot
Some of the financial key ratios for Nike are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.4% | 17.9% | 11.8% |
| FCF Margin | ROE | ROA |
| 8.7% | 27.1% | 10.2% |
Analysis – Nike Intrinsic Stock Value
GoodWhale has been analyzing the fundamentals of NIKE and has come to the conclusion that the intrinsic value of its share is currently around $141.4. This is calculated by using our proprietary Valuation Line which looks at a variety of metrics such as revenue, earnings, cash flow and more. This presents an attractive buying opportunity for investors looking to purchase NIKE stock. More…
Peers
Nike Inc is one of the world’s leading sports and fitness companies. Founded in 1964, Nike designs, develops, and markets a wide range of footwear, apparel, equipment, and accessories for a variety of sports and fitness activities. Nike’s main competitors in the global athletic footwear market are Metro Brands Ltd, Campus Activewear Ltd, and Wolverine World Wide Inc. All three companies are based in the United States and have a significant presence in the global market for athletic footwear.
– Metro Brands Ltd ($BSE:543426)
Macau-based Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment resort facilities in Asia. The company’s market cap is $24.3 billion and its ROE is 24.1%. Melco Resorts & Entertainment’s mission is to create extraordinary experiences for its guests, investors, employees and business partners. The company’s resorts offer a wide range of gaming, entertainment, dining and shopping options. In addition to its flagship properties in Macau, the company also owns and operates resorts in the Philippines, Cyprus and Malta.
– Campus Activewear Ltd ($BSE:543523)
Campus Activewear Ltd is a leading retailer of sporting goods and apparel in the United States. The company has a market cap of 192.59B as of 2022 and a return on equity of 35.63%. Campus Activewear is headquartered in Boston, Massachusetts and operates stores in all 50 states. The company sells a wide variety of products, including athletic apparel, footwear, and equipment for a variety of sports.
– Wolverine World Wide Inc ($NYSE:WWW)
Wolverine World Wide, Inc. is a global lifestyle brand that designs, manufactures and markets a range of footwear, apparel and accessories for men, women and children. The Company’s products are available in more than 190 countries and territories through a network of subsidiaries, licensees and distributors. The Company operates in four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group and Wolverine Worldwide Direct-to-Consumer. The Company’s brands include Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Sebago, Chaco, Bates, HyTest and Cushe.
Summary
Investors in Nike have seen positive results in the company’s second quarter of fiscal year 2024. Revenue has increased by 0.5% year-over-year, while net income has grown by 18.8%. This is a strong indication that Nike is continuing to expand and grow despite the challenges posed by the COVID-19 pandemic. With Nike’s strong financial performance in the second quarter, the company is likely to remain an attractive investment option in the future.
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