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Nike, Inc. (NKE) stock

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NYSE: NKE NYSE Apparel, Accessories & Luxury Goods Next results ~December 17, 2026

D Fundamentals grade

Nike, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in May.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$33

Cash-flow model

Base case. Range ~$25–$45 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 17% above our base value.

Price used: $39.12, November 2, 2026

Nike, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Nike files

Where Nike stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $45.9bn, down 1.2% on a year earlier, slower than 0.2% a quarter earlier. That puts it 857 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 4.6% from 6.5% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 3 of our 5 financial-health checks. Our cash-flow model value is $37.22 a share, against a share price of $37.76. At that price, our model says the market is pricing in about 2.3% a year of cash-flow growth for five years, faster than the -0.4% a year revenue growth it has delivered.

Source: 10-Q filed October 2, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 17, 2026 (estimated)

Nike, Inc.'s trailing-twelve-month revenue fell 1.2% year on year, with a free-cash-flow margin of 4.6%. Where it lags: stock pay as % of revenue of 1.5% ranks 22 of 26 apparel, accessories & luxury goods companies we cover.

Our discounted-cash-flow model values the business at ~$33 per share in the base case (~$25–$45 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 30.0% while net income grew 6.8%: a 37pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Revenue shrinking. Revenue fell 1.2% over the last 12 months.
  • Weak cash conversion. Free cash flow was 68% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 1.5% ranks 22 of 26 apparel, accessories & luxury goods companies we cover (median 1.0%).
  • Heavily shorted. 10.9% of the shares available to trade are sold short (2.3 days of average volume to cover).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 32.3% over 90 days.

Latest results: FY2027 Q1

Filed October 2, 2026
Earnings per share
$0.48 against an average estimate of $0.44: beat by 9.9%
Revenue
$11.21bn, down 4.3% on a year earlier
Share reaction
-4.3% in the first session after the results on October 1, 2026, against +0.9% for the S&P 500
Guidance given
adjusted Diluted earnings per share $1.15 to $1.35 (fiscal 2027)
Next report
December 17, 2026; average EPS estimate $0.39

Nike's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week+3.2%
  • 1 month+15.5%
  • This year-37.0%
  • 1 year-37.4%
  • 5 years-75.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$45.9B
Net margin
6.7%
EPS (TTM, diluted)
$2.09

Growth

Revenue growth
−1.2%
Change in growth rate
−1.4 pts
Share count change
+0.0%

Cash

Free cash flow (TTM)
$2.1B
FCF margin
4.6%
Stock pay % of revenue
1.5%

Earnings

Last results
October 1, 2026
Next results (est.)
January 1, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Leadership
  4. Leadership
  5. Leadership
  6. Dividend

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Nike, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 3.0% a year of cash-flow growth for five years.That is close to the -0.4% a year revenue growth Nike has delivered.

  • Priced in3.0%
  • Last 12 months-1.2%
  • 3 years a year-3.8%
  • 5 years a year-0.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($38.03, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$33
Price used
$38.03close November 3, 2026
Implied change
▼ 12%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Nike, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($3.3B, FY2027 Q1 TTM), growing -4% and 1.6% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$25–~$45 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Nike, Inc.'s free cash flow after stock-based pay ( $3.3B, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Nike, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$33 ~$25–$45 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$20 ~$18–$26 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$52 ~$40–$70 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$49 ~$42–$60 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$38 ~$20–$52 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Nike, Inc. with Apparel, Accessories & Luxury Goods in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −22%
  • Last year's free-cash-flow margin change, if it persists ▼ −30%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $31$42$58$77$103$137
8.5% $24$32$43$57$75$99
10% $19$26$34$45$59$77

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$47.47$46.13$63.33$68.97$89.06$124.31$108.89$97.53$89.27$57.97$45.34$39.12
Market value$82.7bn$78.0bn$105.1bn$111.6bn$141.7bn$200.1bn$175.4bn$153.1bn$136.6bn$86.2bn$67.1bn$58.0bn
+ Net debt (− = net cash)−$1.1bn−$6m−$439m−$987m$1.3bn−$474m$856m$1.5bn−$951m$502m$379m$990m
Enterprise value$81.6bn$78.0bn$104.6bn$110.6bn$143.1bn$199.6bn$176.3bn$154.6bn$135.6bn$86.7bn$67.5bn$59.0bn
Multiples
Price / sales 2.6x2.3x2.9x2.9x3.8x4.5x3.8x3.0x2.7x1.9x1.4x1.3x
Price / earnings 22.0x18.4x54.4x27.7x55.8x34.9x29.0x30.2x24.0x26.8x21.6x18.7x
Price / free cash flow 36.7x28.5x26.8x23.3x101.3x33.6x39.6x31.4x20.6x26.4x30.7x27.5x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

74 /100

Strong moat

How hard Nike's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 17.6% of total assets over 10 years.

  • Pricing power 15 / 20

    Gross margin has been a median 44.0%, moving by 1.1 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Net margin has been a median 10.2%; its worst year was 5.6%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 8.1% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 8.3% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (79 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 17, 2026, after the close. Analysts expect revenue of $11.1bn and EPS of $0.39 (range $0.29 to $0.53) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.25 −41% $42.8bn −8%
Next $1.53 +22% $43.2bn +1%

Next year's EPS estimate has moved −32.3% in 90 days, across 40 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −27.8% on 90 days ago. In the last 30 days, 0 analysts raised Nike, Inc.'s forecast and 27 cut it.

Consensus EPS forecast Nike, Inc., last 90 days
$1.00 $1.50 $2.00 $2.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.73 Current fiscal year, 60 days ago: $1.72 Current fiscal year, 30 days ago: $1.67 Current fiscal year, 7 days ago: $1.25 Current fiscal year, Now: $1.25 $1.25 Next fiscal year, 90 days ago: $2.25 Next fiscal year, 60 days ago: $2.24 Next fiscal year, 30 days ago: $2.12 Next fiscal year, 7 days ago: $1.56 Next fiscal year, Now: $1.53 $1.53

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.73$2.25
60 days ago $1.72$2.24
30 days ago $1.67$2.12
7 days ago $1.25$1.56
Now $1.25$1.53

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.44 $0.48 +9.9%
May 2026 $0.13 $0.72 +466.1%
Feb 2026 $0.28 $0.35 +24.3%
Nov 2025 $0.37 $0.53 +41.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 1, 2026
  • Adjusted Diluted earnings per share fiscal 2027 $1.15 to $1.35 Non-GAAP
    “Adjusted Diluted earnings per share** is expected to be in the range of $1.15 to $1.35, which excludes approximately $0.15 of restructuring expenses related to Pace for fiscal 2027.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Nike, Inc.'s revenue by -4.0% next year and +1.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-6.5%, weight 70%) and the company's own record (+2.0%, weight 30%) . How the weights are set.

Analyst recommendations

43 analysts, Oct 2026
Buy1023%
Hold2558%
Sell819%

Monthly trend

  1. Oct 2026825543
  2. Sep 20269263342
  3. Aug 2026102539
  4. Jul 2026112539

Counts of recommendations published by analysts covering Nike, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.9%
of tradable shares
Days to cover
2.26
at average volume
Short interest, 1 month
+21%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
2.0%
of shares
Employees
73,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −37.4%

$62.53 on October 31, 2025 to $39.12

ThenNowEffect
Revenue (last 12 months) $46.4bn $45.9bn −1.2%
Net margin 6.2% 6.7% +8.1%
P/E multiple 32.0x 18.7x −41.4%
Share count 1482m 1482m 0.0%

Biggest factor: p/e multiple.

Last 3 years −60.8%

$99.86 on November 3, 2023 to $39.12

ThenNowEffect
Revenue (last 12 months) $51.5bn $45.9bn −10.8%
Net margin 9.8% 6.7% −31.3%
P/E multiple 30.8x 18.7x −39.2%
Share count 1559m 1482m +5.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NKE+19%−29%−6%−29%−14%−37%
Industry peers (median)+18%−37%+2%−6%−9%+14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NKE50%33%58%42%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NKE−16%−50%−30%−34%−35%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 79% from November 5, 2021 to October 2, 2026. Getting back needed a 378% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$33.87 – $66.04
From 52-week high
−40.8%
vs 50-day average
+6.1%
vs 200-day average
−13.6%
Volatility (1 year)
36%
Beta vs S&P 500
0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±8.3%
After a week
2 up, 10 down
typical move ±8.8%
After a month
3 up, 9 down
typical move ±11.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 1, 2026 −4.3% +0.9% −1.9% +9.2%
June 30, 2026 +3.8% +0.6% +3.4% +2.0%
June 23, 2026 −3.2% −1.5% −5.0% −5.1%
March 31, 2026 −12.9% +3.7% −15.8% −13.4%
December 18, 2025 −10.6% +1.7% −7.2% −0.4%
September 30, 2025 +6.7% +0.7% −0.9% −6.0%
June 26, 2025 +18.4% +1.3% +25.6% +30.3%
March 20, 2025 −6.9% −0.3% −9.9% −23.1%
December 19, 2024 +0.1% +1.2% −0.6% −3.4%
October 1, 2024 −6.0% −0.9% −8.6% −13.5%
June 27, 2024 −19.9% −0.2% −19.8% −21.8%
March 21, 2024 −6.4% +0.1% −6.3% −6.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Nike, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look rich

Option prices imply clearly more movement than the shares have shown. That strengthens the case for selling options.

  • Implied is 1.49× the last 60 days’ realised volatility , richer than 93% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is 1.49x 60-day realised, above 1-year realised, and in the top 20% of our coverage today.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

NKE Nike, Inc. Grade D $39.33

Own 100 shares, sell the $43.00 call expiring December 4, 2026 (32 days) for $0.51 a share — $51.00 per contract.

Previous session · Bid $0.51, ask $0.66, quoted Mon 2 Nov, 17:31 New York time with NKE at $39.33. Option prices move with the shares: check the live chain at your broker before trading.

  • If NKE ends below $43.00: you keep your shares and the $51.00 — 1.3% extra on the position, 14.8% a year at that pace.
  • If it ends above $43.00: your shares are sold at $43.00, a total return of 10.6% including the premium — at or above our value of ~$33.
$418 $0 −$776 Our value $33.00 Break-even $38.82 Price $39.33
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$51.00
Annualised
14.8%
Break-even
$38.82
Max gain
$418.5
Chance of selling
~26%

Collar

Own the shares, buy the $36.00 put and sell the $43.00 call, both expiring December 4, 2026 (32 days).

  • Net cost of $0.26 a share ($26.00 per contract of 100 shares).
  • Worst case at expiry: -9.1%, if the shares fall below $36.00 (-8.5% from today).
  • Best case at expiry: +8.7%, if the shares rise above $43.00 (+9.3%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $33.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Nike, Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Nike, Inc.
$44B $46B $48B $50B $52B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $51.5B Revenue (TTM), FY24 Q3: $51.6B Revenue (TTM), FY24 Q4: $51.4B Revenue (TTM), FY25 Q1: $50B Revenue (TTM), FY25 Q2: $49B Revenue (TTM), FY25 Q3: $47.8B Revenue (TTM), FY25 Q4: $46.3B Revenue (TTM), FY26 Q1: $46.4B Revenue (TTM), FY26 Q2: $46.5B Revenue (TTM), FY26 Q3: $46.5B Revenue (TTM), FY26 Q4: $46.4B Revenue (TTM), FY27 Q1: $45.9B $45.9B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $51.5B
FY24 Q3 $51.6B
FY24 Q4 $51.4B
FY25 Q1 $50B
FY25 Q2 $49B
FY25 Q3 $47.8B
FY25 Q4 $46.3B
FY26 Q1 $46.4B
FY26 Q2 $46.5B
FY26 Q3 $46.5B
FY26 Q4 $46.4B
FY27 Q1 $45.9B
Revenue growth, TTM YoY Nike, Inc.
-10% -5% 0% 5% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 5.0% Revenue growth, TTM YoY, FY24 Q3: 1.9% Revenue growth, TTM YoY, FY24 Q4: 0.3% Revenue growth, TTM YoY, FY25 Q1: -2.8% Revenue growth, TTM YoY, FY25 Q2: -5.0% Revenue growth, TTM YoY, FY25 Q3: -7.3% Revenue growth, TTM YoY, FY25 Q4: -9.8% Revenue growth, TTM YoY, FY26 Q1: -7.1% Revenue growth, TTM YoY, FY26 Q2: -5.0% Revenue growth, TTM YoY, FY26 Q3: -2.7% Revenue growth, TTM YoY, FY26 Q4: 0.2% Revenue growth, TTM YoY, FY27 Q1: -1.2% -1.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 5.0%
FY24 Q3 1.9%
FY24 Q4 0.3%
FY25 Q1 -2.8%
FY25 Q2 -5.0%
FY25 Q3 -7.3%
FY25 Q4 -9.8%
FY26 Q1 -7.1%
FY26 Q2 -5.0%
FY26 Q3 -2.7%
FY26 Q4 0.2%
FY27 Q1 -1.2%
FCF margin (TTM) Nike, Inc.
0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 12.2% FCF margin (TTM), FY24 Q3: 12.0% FCF margin (TTM), FY24 Q4: 12.9% FCF margin (TTM), FY25 Q1: 14.4% FCF margin (TTM), FY25 Q2: 11.3% FCF margin (TTM), FY25 Q3: 11.1% FCF margin (TTM), FY25 Q4: 7.1% FCF margin (TTM), FY26 Q1: 6.5% FCF margin (TTM), FY26 Q2: 5.3% FCF margin (TTM), FY26 Q3: 2.3% FCF margin (TTM), FY26 Q4: 4.7% FCF margin (TTM), FY27 Q1: 4.6% 4.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 12.2%
FY24 Q3 12.0%
FY24 Q4 12.9%
FY25 Q1 14.4%
FY25 Q2 11.3%
FY25 Q3 11.1%
FY25 Q4 7.1%
FY26 Q1 6.5%
FY26 Q2 5.3%
FY26 Q3 2.3%
FY26 Q4 4.7%
FY27 Q1 4.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 May 2010 2011 May 2011 2012 May 2012 2013 May 2013 2014 May 2014 2015 May 2015 2016 May 2016 2017 May 2017 2018 May 2018 2019 May 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 May 2023 2024 May 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 19.0 20.1 23.3 25.3 27.8 30.6 32.4 34.4 36.4 39.1 37.4 44.5 46.7 51.2 51.4 46.3 46.4 45.9
Gross profit 8.8 9.2 10.1 11.0 12.4 14.1 15.0 15.3 16.0 17.5 16.2 20.0 21.5 22.3 22.9 19.8 19.9 19.8
Net income 1.9 2.1 2.2 2.5 2.7 3.3 3.8 4.2 1.9 4.0 2.5 5.7 6.0 5.1 5.7 3.2 3.1 3.1
Diluted EPS $0.96 $1.10 $1.18 $1.35 $1.49 $1.85 $2.16 $2.51 $1.17 $2.49 $1.60 $3.56 $3.75 $3.23 $3.73 $2.16 $2.10 $2.09
Growth (year on year)
Revenue −0.8% +5.8% +16.0% +8.5% +9.8% +10.1% +5.8% +6.1% +6.0% +7.5% −4.4% +19.1% +4.9% +9.6% +0.3% −9.8% +0.2% −1.2%
Net income +28.2% +11.9% +3.7% +11.8% +8.9% +21.5% +14.9% +12.8% −54.4% +108.4% −37.0% +125.6% +5.6% −16.1% +12.4% −43.5% −3.4% +6.8%
Diluted EPS +27.4% +14.0% +6.8% +14.9% +10.4% +24.2% +16.8% +16.2% −53.4% +112.8% −35.7% +122.5% +5.3% −13.9% +15.5% −42.1% −2.8% +6.8%
Margins
Gross margin 46.3% 45.7% 43.5% 43.6% 44.8% 46.0% 46.2% 44.6% 43.8% 44.7% 43.4% 44.8% 46.0% 43.5% 44.6% 42.7% 42.9% 43.1%
Net margin 10.0% 10.6% 9.5% 9.8% 9.7% 10.7% 11.6% 12.3% 5.3% 10.3% 6.8% 12.9% 12.9% 9.9% 11.1% 7.0% 6.7% 6.7%
Free-cash-flow margin 14.9% 6.9% 5.9% 9.6% 7.7% 12.1% 7.0% 8.0% 10.8% 12.2% 3.7% 13.4% 9.5% 9.5% 12.9% 7.1% 4.7% 4.6%
Cash flow
Cash from operations 3.2 1.8 1.9 3.0 3.0 4.7 3.4 3.8 5.0 5.9 2.5 6.7 5.2 5.8 7.4 3.7 2.9 2.8
Capital spending 0.3 0.4 0.6 0.6 0.9 1.0 1.1 1.1 1.0 1.1 1.1 0.7 0.8 1.0 0.8 0.4 0.7 0.7
Free cash flow 2.8 1.4 1.4 2.4 2.1 3.7 2.3 2.7 3.9 4.8 1.4 6.0 4.4 4.9 6.6 3.3 2.2 2.1
Stock-based pay 0.2 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 0.6 0.6 0.8 0.8 0.7 0.7 0.7
Free cash flow after stock pay 2.7 1.3 1.2 2.3 2.0 3.5 2.0 2.5 3.7 4.5 1.0 5.4 3.8 4.1 5.8 2.6 1.5 1.4
Balance sheet
Cash 3.1 1.9 2.3 3.3 2.2 3.9 3.1 3.8 4.2 4.5 8.3 9.9 8.6 7.4 9.9 7.5 7.6 6.9
Total debt 0.6 0.7 0.4 1.4 1.4 1.3 2.0 3.8 3.8 3.5 9.7 9.4 9.4 8.9 8.9 8.0 7.9 7.9
Net debt (negative = net cash) −2.5 −1.2 −1.9 −2.0 −0.8 −2.6 −1.1 −0.0 −0.4 −1.0 1.3 −0.5 0.9 1.5 −1.0 0.5 0.4 1.0
Diluted shares 1,976m 1,943m 1,879m 1,833m 1,812m 1,769m 1,743m 1,692m 1,659m 1,618m 1,592m 1,609m 1,611m 1,570m 1,530m 1,488m 1,481m 1,482m
Returned to shareholders
Dividends 0.5 0.6 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.5 1.6 1.8 2.0 2.2 2.3 2.4 2.4
Buybacks 0.7 1.9 1.8 1.7 2.6 2.5 3.2 3.2 4.3 4.3 3.1 0.6 4.0 5.5 4.3 3.0 0.1 0.0
Total returned 1.2 2.4 2.4 2.4 3.4 3.4 4.3 4.4 5.5 5.6 4.5 2.2 5.9 7.5 6.4 5.3 2.6 2.4

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 5 checks passed · August 31, 2026
What it owns · $37.8bn
Short-term assets $23.7bnLonger-term assets $14.1bn
What it owes, and who funded it · $26.6bn
Short-term liabilities $11.4bnShareholders' equity $15.2bn
  • Short-term assets cover short-term liabilities $23.7bn of assets due within a year against $11.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $6.9bn of cash against $7.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 52% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 64% to 52% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.8bn of operating cash flow against $7.9bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Nike, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$20M
Dividends (TTM)
$2.4B
Returned to shareholders
116%
of free cash flow
Buybacks, last 3 fiscal years
$7.4B
Diluted share count
+0.0%
year over year
Total shareholder yield
4.2%
dividends 4.2% + buybacks 0.0% of market value
Dividend payout ratio
78%
of net income paid out
Sales & admin spending
34.9%
of revenue
Days sales outstanding
42 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in apparel, accessories & luxury goods
Last 12 months unless stated NKE LULU VFC PVH RL TPR Median
Revenue, last 12 months $45.9bn $11.1bn $9.4bn $8.9bn $8.4bn $8.0bn $1.5bn
Revenue growth, last 12 months −1.2% 1.7% −1.4% 1.6% 14.7% 14.2% 1.6%
Revenue growth, 3-year average −3.8% 7.9% −4.4% −0.8% 9.0% 6.3% −1.5%
Revenue growth, latest quarter −4.3% −4.3% −3.8% −3.2% 14.0% 8.9% 1.1%
Gross margin 43.1% 56.1% 55.9% 58.8% 70.3% 77.8% 52.5%
Operating margin — 17.8% 6.8% 4.1% 14.9% 23.9% 4.4%
Operating margin, 3-year average — 21.0% 2.5% 5.7% 13.5% 15.6% 2.5%
Net margin 6.7% 12.8% 3.9% −1.9% 11.8% 19.1% 3.9%
Cash from operations / revenue 6.1% 17.9% 8.8% 9.8% 15.8% 24.7% 9.2%
Free-cash-flow margin 4.6% 12.2% 7.3% 8.0% 12.9% 22.6% 7.5%
Free-cash-flow margin, 3-year average 8.5% 13.3% 5.7% 7.6% 12.4% 18.5% 5.8%
Stock pay / revenue 1.5% 0.8% 0.8% 0.5% 1.4% 1.3% 0.9%
Change in share count 0.0% −4.3% 1.1% −11.6% −2.3% −5.5% 0.0%

Median of all 29 companies we cover in apparel, accessories & luxury goods. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

29 apparel, accessories & luxury goods companies
Measure Company Peer median Rank
Revenue growth Growth -1.2% 1.6% 18 of 29
Change in growth rate Growth -1.4pp +0.0pp 21 of 29
Gross margin Profitability 43.1% 52.5% 20 of 27
Net margin Profitability 6.7% 3.9% 8 of 29
Free-cash-flow margin Cash generation 4.6% 7.6% 19 of 28
Stock pay as % of revenue Cash generation 1.5% 1.0% 22 of 26
Long-term debt as % of assets Balance sheet 15.6% 15.1% 13 of 22
Change in share count Balance sheet 0.0% 0.0% 13 of 25
Days sales outstanding Balance sheet 42 days 38 days 16 of 24

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to May 31, 2026
Products and services
Line of business Revenue Share YoY
Footwear $30.5B 65.8% ▼ 1.4%
Apparel $13.5B 29.1% ▲ 3.5%
Sporting Equipment $2.2B 4.8% ▼ 0.1%
Other $143M 0.3% ▲ 93.2%

From Nike, Inc.'s 10-K filed July 15, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$39.6B
Institutions reporting
1,719
Shares held vs prior quarter
▲ 2.1%
Positions opened / closed
124 / 309

Top buyers and sellers, Q2 2026: 762 institutions bought and 1,064 sold ; the biggest buyer was Capital World Investors (+21.6M shares) and the biggest seller Wellington Management Group LLP (−16.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.4B 81.8M 8.5% ▼ 10.9%
Vanguard Capital Management LLC $3.2B 78.3M 8.1% ▲ 1.2%
Capital World Investors $3B 72.1M 7.5% ▲ 42.7%
State Street Corp $2.6B 63.6M 6.6% ▲ 6.8%
Vanguard Portfolio Management LLC $1.9B 45.8M 4.7% ▲ 60.7%
Geode Capital Management, LLC $1.2B 29.3M 3.0% ▲ 1.1%
Wellington Management Group LLP $912M 22.2M 2.3% ▼ 42.1%
FMR LLC $869M 21.2M 2.2% ▲ 0.8%
Morgan Stanley $824M 20.1M 2.1% ▼ 8.9%
UBS Group AG $714M 17.4M 1.8% ▲ 35.3%
Invesco Ltd. $612M 14.9M 1.5% ▼ 1.5%
Harris Associates L P $591M 14.4M 1.5% ▼ 2.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Nike, Inc.'s complete shareholder register. Values are as reported by the filers ; 8 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $9.2M 9 trades by 5 insiders, last 12 months Insider sales History → $7.7M 11 trades by 6 insiders · 100% under pre-set plans
Net ▲ $1.5M net buying
Insider Date Trade Shares Price Value
Alagirisamy Venkatesh EVP: CHIEF OPERATING OFFICER September 9, 2026 Sell pre-set plan 3,671 $37.59 $137,993
Leinwand Robert EVP: Chief Legal Officer September 9, 2026 Sell pre-set plan 3,646 $37.59 $137,053
Mccartney Philip EVP: CHIEF INN,PROD&DSG OFCR September 9, 2026 Sell pre-set plan 2,559 $37.59 $96,193
Montagne Amy PRESIDENT, NIKE August 7, 2026 Sell pre-set plan 4,867 $42.05 $204,657
Friend Matthew EVP: CFO August 5, 2026 Sell pre-set plan 2,463 $41.60 $102,461
Mccartney Philip EVP: CHIEF INN,PROD&DSG OFCR August 5, 2026 Sell pre-set plan 524 $41.60 $21,798
Alagirisamy Venkatesh EVP: CHIEF OPERATING OFFICER August 5, 2026 Sell pre-set plan 890 $41.60 $37,024
Leinwand Robert EVP: Chief Legal Officer August 5, 2026 Sell pre-set plan 821 $41.60 $34,154
Mccartney Philip EVP: CHIEF INN,PROD&DSG OFCR June 12, 2026 Sell pre-set plan 17,398 $46.18 $803,440
Hill Elliott PRESIDENT & CEO April 13, 2026 Buy pre-set plan 23,660 $42.27 $1M
Hill Elliott PRESIDENT & CEO April 13, 2026 Buy 23,660 $42.27 $1M
Cook Timothy D Director April 10, 2026 Buy pre-set plan 25,000 $42.43 $1.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 98 trades and filings

In the last 12 months, 2 members of Congress disclosed 0 purchases and 3 sales of Nike, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $15,001 - $50,000, traded August 27, 2026, filed September 10, 2026
  • Kevin Hern(R-OK 1):Sale (partial), $1,001 - $15,000, traded August 13, 2026, filed September 1, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded April 14, 2026, filed May 8, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 1, 2027 estimated from the company's past filing pattern, not announced

  • October 1, 2026
  • June 30, 2026
  • June 23, 2026
  • March 31, 2026
  • December 18, 2025
  • September 30, 2025

Recent SEC filings

Data status

When each part of this page on Nike, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Nike, Inc. in brief

What does Nike, Inc. do?
Nike, Inc. is a US-listed company in the apparel, accessories & luxury goods industry. Its financial year ends in May.
What is Nike, Inc.'s stock ticker?
Nike, Inc. trades under the ticker NKE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Nike, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Nike, Inc. reported revenue of $45.9B, 1.2% lower than a year earlier, according to its SEC filings.
What is Nike, Inc.'s free cash flow?
Nike, Inc.'s free-cash-flow margin is 4.6% of revenue over the trailing twelve months, ranking 19 of the 28 apparel, accessories & luxury goods companies we cover.
What is Nike, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Nike, Inc.'s free cash flow after stock-based pay gives ~$33 per share in the base case, and ~$25–$45 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Nike, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Capital World Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Nike, Inc. buying back stock, and does it pay a dividend?
Nike, Inc. spent $20M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.0% over the year.
What is Nike, Inc.'s market cap?
On November 2, 2026, Nike, Inc.'s market capitalisation was about $58B, with a price-to-earnings ratio of 18.7 and net debt of $990M. Market figures come from third-party market data and may be delayed.
Does Nike, Inc. pay a dividend?
Yes: Nike, Inc. paid $2.4B in dividends over the trailing twelve months, a dividend yield of 4.18% and a payout ratio of 78.4%.
How much debt does Nike, Inc. have?
Nike, Inc.'s debt-to-equity ratio is 51.9%, from its latest balance sheet (63.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Nike, Inc.'s competitors?
In our Apparel, Accessories & Luxury Goods peer group, the companies closest to Nike, Inc. are Lululemon Athletica, VF Corporation, PVH Corp., Ralph Lauren Corporation and Tapestry, Inc. The side-by-side comparison below sets their revenue, margins and growth against Nike, Inc.'s.
Are insiders buying or selling Nike, Inc. stock?
Over the last 12 months, Nike, Inc.'s directors and officers reported 9 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Nike, Inc.'s next earnings date?
Around December 17, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Nike, Inc. announces its own schedule.