Total Cost of Revenue
Nike Total Cost of Revenue decreased by 8.6% to $6.75B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 2.4%, from $6.59B to $6.75B. Over 4 years (FY 2021 to FY 2025), Total Cost of Revenue shows relatively stable performance with a 1.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue suggests rising production costs or margin compression, while a decrease suggests improved operational efficiency.
Detailed definition
Total cost of revenue includes the direct costs attributable to the production of goods or the delivery of services sold...
Peer comparison
Varies by industry; for medical device manufacturers, this includes significant manufacturing and supply chain costs.
total_cost_of_revenueHistorical Data
| Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $6.69B | $6.55B | $6.14B | $5.80B | $6.73B | $7.07B | $7.60B | $7.02B | $7.23B | $7.22B | $7.42B | $6.87B | $6.97B | $6.33B | $6.97B | $6.59B | $6.63B | $6.78B | $7.38B | $6.75B |
| QoQ Change | — | -2.0% | -6.2% | -5.5% | +16.0% | +5.1% | +7.5% | -7.7% | +3.0% | -0.2% | +2.7% | -7.4% | +1.5% | -9.2% | +10.0% | -5.3% | +0.5% | +2.2% | +8.9% | -8.6% |
| YoY Change | — | — | — | — | +0.6% | +7.9% | +23.8% | +20.9% | +7.4% | +2.1% | -2.5% | -2.2% | -3.6% | -12.3% | -6.1% | -4.0% | -4.9% | +7.0% | +6.0% | +2.4% |
Total Cost of Revenue at Other Companies
Frequently Asked Questions
- What is Nike's total cost of revenue?
- Nike (NKE) reported total cost of revenue of $6.75B in Q4 2025.
- How has Nike's total cost of revenue changed year-over-year?
- Nike's total cost of revenue increased by 2.4% year-over-year, from $6.59B to $6.75B.
- What is the long-term trend for Nike's total cost of revenue?
- Over 4 years (2021 to 2025), Nike's total cost of revenue has grown at a 1.9% compound annual growth rate (CAGR), from $24.58B to $26.52B.
- What does total cost of revenue mean?
- The direct costs incurred to produce the goods or services that a company sold during a specific period.