Tearsheet

Nike (NKE)

Market Price (12/5/2025): $65.7 | Market Cap: $97.0 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Nike (NKE)

Market Price (12/5/2025): $65.7
Market Cap: $97.0 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO LTM is 3.5 Bil, FCF LTM is 3.0 Bil	Weak multi-year price returns 2Y Excs Rtn is -88%, 3Y Excs Rtn is -108%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x
1	Low stock price volatility Vol 12M is 40%		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%
2	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, Sustainable Consumption, and Advanced Materials. Show more.

0	Attractive cash flow generation CFO LTM is 3.5 Bil, FCF LTM is 3.0 Bil
1	Low stock price volatility Vol 12M is 40%
2	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, Sustainable Consumption, and Advanced Materials. Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -88%, 3Y Excs Rtn is -108%
4	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 30x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.3%

Valuation, Metrics & Events

	12/5/25	2024	2023	2022
Share Price CYE	$65.70	$73.93	$104.29	$110.96
Market Cap CYE ($ Bil)	97.0	109.9	158.6	173.0
Total Debt ($ Bil)	11.1	11.0	12.0	12.1
Total Cash ($ Bil)	8.6	9.2	11.6	10.7
Enterprise Value ($ Bil)	99.5	120.9	170.6	185.1
Valuation Ratios
P/S TTM	2.2	2.4	3.2	3.5
P/EBIT TTM	30.1	30.4	26.1	30.7
P/E TTM	35.6	34.9	28.9	35.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8
P/EBIT TTM (Sector)	7.6	8.0	7.8	6.3
P/E TTM (Sector)	10.4	11.1	10.7	8.4

	12/5/25	2024
Share Price CYE	$65.70	$73.93
Market Cap CYE ($ Bil)	97.0	109.9
Total Debt ($ Bil)	11.1	11.0
Total Cash ($ Bil)	8.6	9.2
Enterprise Value ($ Bil)	99.5	120.9
Valuation Ratios
P/S TTM	2.2	2.4
P/EBIT TTM	30.1	30.4
P/E TTM	35.6	34.9
Sector Ratios
P/S TTM (Sector)	0.8	0.8
P/EBIT TTM (Sector)	7.6	8.0
P/E TTM (Sector)	10.4	11.1

	NKE	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	46.4
Rev Chg Q	1.1%	7.1%
Rev Chg LTM	-7.1%	6.1%
Rev Chg 3Y Avg	-0.3%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	3.4
CFO LTM ($ Bil)	3.5
Net Inc LTM ($ Bil)	2.9
Op Mgn LTM	7.4%	18.8%
CFO/Rev LTM	7.6%	20.5%
Net Inc Mgn	6.2%	13.1%
VALUATION	HIGH
P/S	2.2	3.2
P/CFO	29.2	15.8
P/FCF	34.2	20.5
P/E	35.6	23.5
STABILITY	VERY GOOD
Debt/Equity	0.11	0.20
Cash/Assets	0.23	0.07

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Metric	Value	Date	Source
Total Employees Worldwide	79400	5312024	Link
Number of Retail Stores Worldwide	1032	11302023	Link
Global Market Share (Sneakers and Apparel)	16.4%	10102024	Link
NIKE Direct Sales as a Percentage of Total Nike Brand Revenue	40.6%	5312025	Link
NIKE Brand Digital Sales Percentage Decrease (Q4 2025)	-26%	6272025	Link
Representation of Women in Global Corporate Workforce	51%	1262023	Link
Representation of Racial and Ethnic Minorities in U.S. Corporate Workforce	41%	1262023	Link
Renewable Energy in Owned and Operated Facilities	96%	112024	Link
Freshwater Usage Reduction in Textile Dyeing and Finishing (vs. FY20 baseline)	-15%	112024	Link

Recent
12/01/2025	Dividend	Amount: $0.41 Payment On: 1/02/2026
Upcoming
12/18/2025	Earnings Release	Rev: $12 Bil (E) EPS: $0.37 (E)
3/18/2026	Earnings Release	Rev: - EPS: -

NKE Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are key points explaining a significant decline in Nike's stock: 1. Disappointing financial outlook and lowered guidance. Nike faced significant stock plunges following disappointing earnings reports and a forecast for a mid-single-digit to 10% revenue decline for fiscal year 2025. This outlook, indicating a projected 10% drop in Q1 revenue and slashed full-year guidance for 2025, led to a substantial drop in the stock.

2. Weak sales in key markets and rising competition. The company has experienced declining global sales in both apparel and footwear in 2024, diverging from broader market trends. Sales in key markets such as China have been particularly affected by depressed consumer spending and a preference for locally made products, while Nike has lost market share to on-trend rivals like On, Hoka, and New Balance.

Stock Movement Drivers

Fundamental Drivers

The -12.3% change in NKE stock from 9/4/2025 to 12/4/2025 was primarily driven by a -10.3% change in the company's Net Income Margin (%).

	9042025	12042025	Change
Stock Price ($)	74.87	65.69	-12.26%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	46309.00	46440.00	0.28%
Net Income Margin (%)	6.95%	6.23%	-10.32%
P/E Multiple	34.35	33.51	-2.46%
Shares Outstanding (Mil)	1476.80	1476.60	0.01%
Cumulative Contribution			-12.26%

LTM = Last Twelve Months as of date shown

Market Drivers

9/4/2025 to 12/4/2025

	Return	Correlation
NKE	-12.3%
Market (SPY)	5.4%	35.6%
Sector (XLY)	-49.4%	5.4%

Fundamental Drivers

The 6.0% change in NKE stock from 6/5/2025 to 12/4/2025 was primarily driven by a 64.9% change in the company's P/E Multiple.

	6052025	12042025	Change
Stock Price ($)	61.95	65.69	6.04%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	47818.00	46440.00	-2.88%
Net Income Margin (%)	9.43%	6.23%	-33.88%
P/E Multiple	20.31	33.51	64.95%
Shares Outstanding (Mil)	1478.10	1476.60	0.10%
Cumulative Contribution			6.04%

LTM = Last Twelve Months as of date shown

Market Drivers

6/5/2025 to 12/4/2025

	Return	Correlation
NKE	6.0%
Market (SPY)	15.7%	36.7%
Sector (XLY)	-43.0%	11.1%

Fundamental Drivers

The -14.2% change in NKE stock from 12/4/2024 to 12/4/2025 was primarily driven by a -41.2% change in the company's Net Income Margin (%).

	12042024	12042025	Change
Stock Price ($)	76.57	65.69	-14.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	50012.00	46440.00	-7.14%
Net Income Margin (%)	10.60%	6.23%	-41.19%
P/E Multiple	21.63	33.51	54.87%
Shares Outstanding (Mil)	1497.70	1476.60	1.41%
Cumulative Contribution			-14.23%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2024 to 12/4/2025

	Return	Correlation
NKE	-14.2%
Market (SPY)	13.7%	51.0%
Sector (XLY)	-47.0%	24.6%

Fundamental Drivers

The -36.8% change in NKE stock from 12/5/2022 to 12/4/2025 was primarily driven by a -47.9% change in the company's Net Income Margin (%).

	12052022	12042025	Change
Stock Price ($)	103.95	65.69	-36.81%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	47149.00	46440.00	-1.50%
Net Income Margin (%)	11.96%	6.23%	-47.89%
P/E Multiple	28.88	33.51	16.00%
Shares Outstanding (Mil)	1567.10	1476.60	5.77%
Cumulative Contribution			-37.02%

LTM = Last Twelve Months as of date shown

Market Drivers

12/5/2023 to 12/4/2025

	Return	Correlation
NKE	-40.7%
Market (SPY)	53.3%	40.9%
Sector (XLY)	-29.2%	24.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NKE Return	41%	19%	-29%	-6%	-29%	-11%	-30%
Peers Return	-4%	53%	-34%	24%	45%	26%	119%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	112%
Monthly Win Rates [3]
NKE Win Rate	50%	50%	33%	58%	42%	60%
Peers Win Rate	67%	75%	25%	50%	67%	90%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
NKE Max Drawdown	-38%	-10%	-50%	-23%	-34%	-29%
Peers Max Drawdown	-65%	-11%	-37%	0%	-5%	-20%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: GIL, AGIE, JPO, MPJS, ZCXX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique Key	Event	NKE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-53.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	113.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-40.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	66.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	140 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-21.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	26.7%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	68 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-45.0%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	81.7%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	371 days	1480 days

Compare to GIL, AGIE, JPO, MPJS, ZCXX

In The Past

Nike's stock fell -53.2% during the 2022 Inflation Shock from a high on 11/5/2021. A -53.2% loss requires a 113.6% gain to breakeven.

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About Nike (NKE)

NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel. In addition, the company sells a line of performance equipment and accessories comprising bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities; and various plastic products to other manufacturers. Further, it provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. Additionally, the company licenses agreements that permit unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. The company was formerly known as Blue Ribbon Sports, Inc. and changed its name to NIKE, Inc. in 1971. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.

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Here are 1-3 brief analogies for Nike (NKE):

Apple for sportswear
Coca-Cola for athletic gear

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Athletic Footwear: Nike designs, develops, and sells a wide range of athletic shoes for various sports and lifestyle purposes.
Apparel: The company offers extensive athletic and casual clothing lines, including jerseys, shorts, t-shirts, hoodies, and jackets.
Equipment & Accessories: Nike provides various sports equipment and accessories such as balls, bags, socks, and headwear.
Digital Fitness and Community Platforms: Nike operates mobile applications like Nike Run Club and Nike Training Club, offering guided workouts, running tracking, and social features to enhance user engagement.

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Nike's Major Customers (NKE)

Based on its latest financial reporting, Nike (NKE) still primarily generates revenue through its wholesale segment, selling to other companies, although it has made a significant strategic shift towards increasing its direct-to-consumer sales.

Major Wholesale Customer Companies:

Nike generally does not disclose the specific percentage of sales contributed by individual wholesale customers. However, based on industry analysis and their publicly acknowledged relationships, the following are recognized as major strategic partners for Nike's wholesale business:

Foot Locker (NYSE: FL)
DICK'S Sporting Goods (NYSE: DKS)
JD Sports Fashion Plc (LSE: JD.L / OTC: JDSPY)

It is important to note that Nike has been actively reducing its overall number of wholesale accounts globally to focus on key strategic partners and to prioritize its own direct-to-consumer channels (e.g., Nike.com, SNKRS app, and Nike-owned retail stores).

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Elliott Hill, President & Chief Executive Officer

Elliott Hill was appointed President & Chief Executive Officer of Nike in October 2024 and has been a director since 2024. He was employed by Nike from 1988 to 2020, holding senior leadership positions across Europe and North America. Before his retirement in 2020, Hill served as President of Consumer and Marketplace, where he was responsible for all commercial and marketing operations for the NIKE and Jordan Brands globally. He also held the role of VP, Global Retail in 2006. Hill currently serves on the board of trustees for Texas Christian University.

Matthew Friend, Executive Vice President & Chief Financial Officer

Matthew Friend leads Nike's Strategy, Finance, and Business Services organizations to drive value creation for NIKE, Inc. He joined Nike in 2009, initially working in Corporate Strategy and Development. Friend later served as Chief Financial Officer of Emerging Markets, then Chief Financial Officer of Global Categories, Product and Functions, and subsequently Chief Financial Officer of the Nike Brand. He also took on responsibilities as VP, Investor Relations. Prior to joining Nike, Friend worked in the financial industry, holding leadership roles in investment banking and mergers and acquisitions at Goldman Sachs and Morgan Stanley. He is a board member for United Airlines Holdings, Inc. and holds a bachelor's degree in business administration from the University of California, Berkeley.

Amy Montagne, President, Nike Brand

Amy Montagne was promoted to President, Nike Brand, effective May 2025. In this role, she is responsible for serving consumers across all sports and driving future growth for the Nike Brand. Montagne has served at Nike for 20 years, previously holding the position of VP/GM Global Women's.

Phil McCartney, Executive Vice President, Chief Innovation, Design & Product Officer

Phil McCartney was promoted to Executive Vice President, Chief Innovation, Design & Product Officer, effective May 2025. He is responsible for the creation of innovative products across the Nike, Jordan, and Converse brands. McCartney previously served as VP, Footwear and has nearly three decades of experience at Nike.

Nicole Graham, Executive Vice President, Chief Marketing Officer

Nicole Graham was promoted to Executive Vice President, Chief Marketing Officer, effective May 2025. She leads the storytelling for Nike, Jordan, and Converse brands. Graham rejoined Nike in 2023 after a brief break, having previously spent 18 years with the company. She is also a co-founder of Adopt, a minority-owned creative agency.

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The rapid ascent and market share capture by specialized performance footwear brands (e.g., On Running, Hoka One One) in key athletic categories like running, challenging Nike's traditional dominance and innovation leadership in performance-oriented products.
The strategic expansion of premium athleisure brands (e.g., Lululemon) into broader activewear and footwear segments, leveraging their strong brand loyalty and direct-to-consumer models to directly compete with Nike in lifestyle and athletic apparel and footwear markets.

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The addressable markets for Nike's main products and services are significant globally and within the United States.

Athletic Footwear

Global: The global athletic footwear market was estimated at approximately USD 146.7 billion in 2023 and is projected to reach USD 205.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2030. Another source indicates the market size was USD 141.1 billion in 2023 and is poised to grow to USD 226.51 billion by 2032, at a CAGR of 5.4%.
U.S.: The U.S. athletic footwear market was valued at approximately USD 15 billion in 2023. It is projected to increase by USD 8.51 billion, exhibiting a CAGR of 5.4% between 2024 and 2029. The market is also projected to reach a value of around USD 26.98 billion by 2034, growing at a CAGR of 5.80% between 2025 and 2034.

Sports Apparel

Global: The global sports apparel market size was valued at USD 230.6 billion in 2022 and is projected to reach USD 410.8 billion by 2032, growing at a CAGR of 6% from 2023 to 2032. Another report valued the global sportswear market at USD 313.22 billion in 2023, with a projection to reach USD 558.14 billion by 2032, at a CAGR of 6.63%. In 2024, the global sports apparel market size was valued at USD 213.31 billion and is expected to reach USD 328.12 billion by 2032, at a CAGR of 5.53%.
U.S.: The U.S. sports apparel market was valued at USD 49.7 billion in 2024 and is expected to reach USD 80.9 billion by 2033, demonstrating a CAGR of 5.60% during 2025-2033. The U.S. sports apparel market generated a revenue of USD 3,569.0 million in 2022 and is expected to reach USD 5,425.0 million by 2030, with a CAGR of 5.4% from 2023 to 2030.

Sports Equipment

Global: The global sports equipment market size was valued at USD 388.22 billion in 2024 and is projected to reach USD 695.93 billion by 2033, growing at a CAGR of 6.7% during the forecast period (2025–2033). Another source states the global sports equipment market was valued at USD 234.2 billion in 2023 and is expected to reach USD 423.4 billion by 2033, with a CAGR of 6.1% from 2024 to 2033. In 2022, the market was worth around USD 220.57 billion and is predicted to grow to around USD 337.73 billion by 2030, with a CAGR of roughly 5.47%.
U.S.: The U.S. athletic & sporting goods market size in 2024 was USD 35.5 billion, and it is expected to reach USD 60.1 billion by 2032, at a CAGR of 6.9% during 2025–2032. The USA Sports Equipment market is anticipated to reach over USD 32.06 billion by 2029. Additionally, the U.S. ball sports goods market size was estimated at USD 31.35 billion in 2023.

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Here are 3-5 expected drivers of future revenue growth for Nike (NKE) over the next 2-3 years:

Product Innovation Across Key Categories: Nike is expected to drive future revenue growth through continuous product innovation, particularly in performance categories such as running, global football, and women's fitness. The company's "Sport Offense" strategy emphasizes introducing new and compelling products, with innovation platforms anticipated to drive over 50 percent of revenue growth. Recent successes and upcoming products like the Pegasus 41, Air Max Dn, and Vomero 18 are examples of this focus.
Strategic Repositioning of Direct-to-Consumer (DTC) and Digital: Nike is repositioning its digital and direct-to-consumer channels to be premium, full-price platforms. While this has led to some recent declines in Nike Digital due to reduced promotional activity, the long-term strategy aims to enhance profitability and brand strength by offering a more elevated consumer experience and personalized connections.
Strengthening the Wholesale Channel and Strategic Partnerships: The company is actively working to strengthen its relationships with wholesale partners and is seeing momentum build in this channel. This includes a focus on newness in the product portfolio for wholesale and aims to create a more balanced marketplace portfolio for sustainable growth.
Focus on Key Geographic Markets: Nike continues to strengthen its presence in strategic geographic markets, such as Greater China. Despite some recent softness and challenges in brick-and-mortar traffic in this region, it remains an area of focus for growth and market expansion.
"Sport Offense" Strategy and Brand Storytelling: Nike is sharpening its focus on sport, accelerating the pace and scaling of newness and innovation, and driving "bigger, bolder storytelling." This comprehensive "Sport Offense" strategy aims to fuel brand distinction, elevate the entire marketplace, and deepen connections with consumers, with events like the Olympics serving as key moments to energize the brand.

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Share Repurchases

In June 2022, Nike's Board of Directors authorized a new four-year, $18 billion program to repurchase shares of its Class B common stock.
As of October 2024, approximately $8 billion remained under the $18 billion share repurchase authorization.
Nike repurchased $4.0 billion in shares during fiscal year 2022, $5.48 billion in fiscal year 2023, and $4.25 billion in fiscal year 2024.

Share Issuance

Nike's issuance of common stock was $1.172 billion in fiscal year 2021, $1.151 billion in fiscal year 2022, and $651 million in fiscal year 2023.
The company's common stock issuance was $667 million in fiscal year 2024 and an estimated $551 million in fiscal year 2025.

Capital Expenditures

Nike's capital expenditures were $695 million in fiscal year 2021, $758 million in fiscal year 2022, and peaked at $969 million in fiscal year 2023.
Capital expenditures were $812 million in fiscal year 2024 and are estimated to be $430 million for fiscal year 2025, marking a five-year low.
Expected capital expenditures for fiscal year 2026 are forecasted at $902.2 million. The primary focus of these expenditures includes investments in a new Enterprise Resource Planning Platform, data and analytics, and enhancing the direct-to-consumer (DTC) model to accelerate digital transformation.

Interactive Breakdown

Nike Interactive Breakdown Analysis

Better Bets than Nike (NKE)

	NKE	Better Performance than NKE
Metric	Value	INDUSTRY: Apparel, Accessories & Luxury Goods
Rev Chg LTM	-7.1%	RL (12.3%), LEVI (11.2%), LULU (9.2%), TPR (8.1%), GIL (4.0%)
Rev Chg 3Y Avg	-0.3%	LULU (15.8%), RL (5.8%), TPR (2.5%), LEVI (1.9%), GIL (0.7%)
Op Mgn LTM	7.4%	LULU (22.9%), GIL (21.7%), TPR (18.7%), RL (15.2%), LEVI (10.9%)
CFO/Rev LTM	7.6%	LULU (17.5%), TPR (16.8%), RL (14.4%), KTB (8.8%), LEVI (8.5%)
FCF/Rev LTM	6.5%	TPR (15.0%), GOOS (14.8%), LULU (10.7%), RL (8.8%), KTB (7.9%)
Total Yield	2.8%	LEVI (8.3%), LULU (6.3%), GIL (6.3%), RL (5.5%), VFC (4.1%)
P/S	2.2	PVH (0.4), VFC (0.6), CPRI (0.6), LEVI (1.4), KTB (1.6)
P/Op Inc	30.1	LULU (11.4), GIL (11.8), LEVI (12.9), RL (16.6), TPR (17.5)

	NKE	Better Performance than NKE
Metric	Value	SECTOR: Consumer Discretionary
Rev Chg LTM	-7.1%	AMZN (10.9%), HD (8.5%), TJX (4.1%), MCD (1.2%), TSLA (-1.6%)
Rev Chg 3Y Avg	-0.3%	AMZN (11.3%), TSLA (9.3%), TJX (5.3%), MCD (4.2%), HD (2.2%)
Op Mgn LTM	7.4%	MCD (46.1%), BKNG (34.5%), HD (13.1%), AMZN (11.4%), TJX (11.2%)
CFO/Rev LTM	7.6%	MCD (39.9%), AMZN (18.1%), TSLA (16.5%), HD (10.8%), TJX (10.2%)
FCF/Rev LTM	6.5%	BKNG (31.9%), MCD (28.1%), HD (8.6%), TSLA (7.1%), TJX (7.0%)
Total Yield	2.8%	HD (6.5%), MCD (6.2%), TJX (4.9%), BKNG (3.6%), AMZN (3.0%)
P/S	2.2	F (0.3), GM (0.3), LOW (1.5), ROST (1.9), HD (2.2)
P/Op Inc	30.1	LOW (12.0), HD (16.8), MCD (17.9), BKNG (19.5), TJX (21.3)

	NKE	Better Performance than NKE
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-7.1%	NVDA (71.6%), AVGO (28.0%), MSFT (15.6%), GOOGL (13.4%), AAPL (6.0%)
Rev Chg 3Y Avg	-0.3%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	7.4%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	7.6%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	6.5%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	2.8%	BRK-B (6.2%), GOOGL (4.6%), META (3.5%), MSFT (3.4%), AAPL (3.0%)
P/S	2.2	UNH (0.7), WMT (1.1), XOM (1.4), COST (1.5), CVX (1.6)
P/Op Inc	30.1	META (22.6), GOOGL (23.7), WMT (26.9), MSFT (28.3), AAPL (29.1)

		Best Bets In Consumer Discretionary Sector
	NKE	ABNB	BKNG	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH	YUM
What You Pay
P/E	35.6	28.2	34.7	25.7	36.2	28.8	10.2	30.2	19.7	18.1	29.2
P/EBIT	30.1	27.4	20.8	17.7	15.9	19.2	7.5	26.7	17.2	10.6	16.9
What You Get
Rev Chg Q	1.1%	9.7%	12.7%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%	8.4%
Rev Chg LTM	-7.1%	10.2%	13.0%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%	11.6%
Rev Chg 3Y Avg	-0.3%	14.2%	17.8%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%	6.4%
FCF/Rev 3Y Avg	9.9%	40.2%	35.6%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Why TPR, LULU May Be Better Than Nike Stock	Actionable
2	Day 8 of Loss Streak for Nike Stock with -11% Return (vs. -18% YTD) [11/4/2025]	Notification
3	Day 8 of Loss Streak for Nike Stock with -12% Return (vs. -18% YTD) [11/4/2025]	Notification
4	Day 7 of Loss Streak for Nike Stock with -10% Return (vs. -16% YTD) [11/3/2025]	Notification
5	NKE Returns $44 Bil to Shareholders in 10 Years
6	Can Nike Stock Hold Up When Markets Turn?	Return
7	NKE's 6.4% One Day Pop Begs The Question: Is TPR Better Instead?	Counter-Intuitive Comparisons
8	Now Is Not The Time To Buy Nike Stock	Buy or Fear
9	Nike vs McDonald's: Which Is A Better Investment?	Counter-Intuitive Comparisons
10	Nike vs Tapestry: Which Is A Better Investment?	Counter-Intuitive Comparisons
11	ARTICLES
12	TPR, LULU Look Smarter Buy Than Nike Stock		December 3rd, 2025
13	Better Value & Growth: TPR, LULU Lead Nike Stock		December 3rd, 2025
14	RL, TPR Look Smarter Buy Than Nike Stock		November 18th, 2025
15	Nike Stock In Shambles: Down -11% With 8-Day Losing Streak		November 5th, 2025
16	Nike Stock Plummets -12% With 8-Day Losing Streak		November 5th, 2025

	Title
0	DASHBOARDS
1	Why TPR, LULU May Be Better Than Nike Stock
2	Day 8 of Loss Streak for Nike Stock with -11% Return (vs. -18% YTD) [11/4/2025]
3	Day 8 of Loss Streak for Nike Stock with -12% Return (vs. -18% YTD) [11/4/2025]
4	Day 7 of Loss Streak for Nike Stock with -10% Return (vs. -16% YTD) [11/3/2025]
5	NKE Returns $44 Bil to Shareholders in 10 Years
6	Can Nike Stock Hold Up When Markets Turn?
7	NKE's 6.4% One Day Pop Begs The Question: Is TPR Better Instead?
8	Now Is Not The Time To Buy Nike Stock
9	Nike vs McDonald's: Which Is A Better Investment?
10	Nike vs Tapestry: Which Is A Better Investment?
11	ARTICLES
12	TPR, LULU Look Smarter Buy Than Nike Stock
13	Better Value & Growth: TPR, LULU Lead Nike Stock
14	RL, TPR Look Smarter Buy Than Nike Stock
15	Nike Stock In Shambles: Down -11% With 8-Day Losing Streak
16	Nike Stock Plummets -12% With 8-Day Losing Streak

Trade Ideas

Select past ideas related to NKE. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	9.2%	9.2%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.4%	2.4%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.1%	-4.1%	-4.1%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-1.6%
NKE_3312025_Dip_Buyer_FCFYield	03312025	NKE	Nike	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.9%	5.3%	-16.1%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	9.2%	9.2%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.4%	2.4%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.1%	-4.1%	-4.1%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-1.6%
NKE_3312025_Dip_Buyer_FCFYield	03312025	NKE	Nike	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.9%	5.3%	-16.1%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
LXP	LXP Industrial Trust	2.8	406.1%	25.7%
OLMA	Olema Pharmaceuticals	2.4	237.1%	374.1%
COGT	Cogent Biosciences	5.4	178.2%	404.0%
CDTX	Cidara Therapeutics	5.9	119.6%	720.3%
SGML	Sigma Lithium	1.1	113.2%	-11.1%
IRWD	Ironwood Pharmaceuticals	0.6	99.5%	-15.8%
ALMS	Alumis	0.6	82.4%	5.6%
NPCE	NeuroPace	0.6	80.5%	51.7%
BW	Babcock & Wilcox Enterprises	0.7	80.5%	311.6%
CBLL	CeriBell	0.7	75.4%	-26.0%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CCOI	Cogent Communications	0.9	-53.0%	-74.0%
UP	Wheels Up Experience	0.5	-48.0%	-60.0%
TLRY	Tilray Brands	7.7	-41.8%	-45.7%
AMSC	American Superconductor	1.4	-41.4%	34.0%
CTEV	Claritev	0.6	-41.2%
BTDR	Bitdeer Technologies	2.5	-40.7%	-41.6%
FRMI	Fermi	11.1	-40.2%
JANX	Janux Therapeutics	1.0	-39.3%	-69.4%
ARDT	Ardent Health	1.2	-39.1%	-48.1%
SMR	NuScale Power	3.4	-35.9%	27.4%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
USAR	USA Rare Earth	1.8	24.7%	58557.7%
PATH	UiPath	9.9	24.4%	45.4%
ASTS	AST SpaceMobile	17.6	18.2%	244.3%
FLNC	Fluence Energy	3.1	17.6%	47.0%
SAIC	Science Applications International	4.8	16.3%	-7.7%
AEVA	Aeva Technologies	0.9	16.0%	234.3%
AXGN	Axogen	1.5	16.0%	99.4%
SANA	Sana Biotechnology	1.3	15.9%	217.8%
OKLO	Oklo	15.6	15.6%	425.9%
RGTI	Rigetti Computing	9.0	15.4%	97.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HOV	Hovnanian Enterprises	0.7	-22.5%	-22.4%
SYM	Symbotic	6.6	-17.4%	155.1%
BBW	Build-A-Bear Workshop	0.6	-15.5%	7.1%
DJCO	Daily Journal	0.6	-11.9%	-22.5%
PVH	PVH	3.7	-11.9%	-26.9%
SNOW	Snowflake	78.7	-11.4%	52.0%
QURE	uniQure	1.2	-10.8%	28.8%
MBX	MBX Biosciences	1.0	-10.0%	65.7%
WLY	John Wiley & Sons	1.8	-8.6%	-18.7%
LUMN	Lumen Technologies	8.7	-8.3%	65.3%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	7.7	601.0%	-45.7%
HPP	Hudson Pacific Properties	6.1	591.8%	-36.1%
AEVA	Aeva Technologies	0.9	50.8%	234.3%
MPLT	MapLight Therapeutics	0.8	41.2%
USAR	USA Rare Earth	1.8	40.6%	58557.7%
PATH	UiPath	9.9	36.0%	45.4%
EVEX	Eve	1.6	34.4%	-7.4%
TMC	TMC The Metals	2.9	33.8%	596.4%
TE	T1 Energy	0.8	33.1%
INDI	Indie Semiconductor	0.9	32.1%	13.8%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.0	-52.7%	-69.4%
CTEV	Claritev	0.6	-32.7%
SYM	Symbotic	6.6	-30.7%	155.1%
FULC	Fulcrum Therapeutics	0.5	-22.6%	86.4%
HOV	Hovnanian Enterprises	0.7	-22.0%	-22.4%
VTYX	Ventyx Biosciences	0.6	-19.9%	265.3%
SIG	Signet Jewelers	3.5	-17.8%	7.2%
CMCL	Caledonia Mining	0.5	-17.8%	175.7%
QURE	uniQure	1.2	-17.7%	28.8%
URGN	UroGen Pharma	1.2	-17.5%	128.0%

Peer Comparisons for Nike

Peers to compare with:

Financials

	NKE	GIL	AGIE	JPO	MPJS	ZCXX	Median
Name	Nike	Gildan A.	Angie	JP Outfi.	MPJS	Zc Gold .
Mkt Price	65.69	58.33	-	-	-	-	62.01
Mkt Cap	97.0	8.7	-	-	-	-	52.9
Rev LTM	46,440	3,362	-	-	-	-	24,901
Op Inc LTM	3,420	728	-	-	-	-	2,074
FCF LTM	3,009	-	-	-	-	-	3,009
FCF 3Y Avg	4,893	-	-	-	-	-	4,893
CFO LTM	3,526	-	-	-	-	-	3,526
CFO 3Y Avg	5,611	-	-	-	-	-	5,611

Growth & Margins

	NKE	GIL	AGIE	JPO	MPJS	ZCXX	Median
Name	Nike	Gildan A.	Angie	JP Outfi.	MPJS	Zc Gold .
Rev Chg LTM	-7.1%	4.0%	-	-	-	-	-1.6%
Rev Chg 3Y Avg	-0.3%	0.7%	-	-	-	-	0.2%
Rev Chg Q	1.1%	2.2%	-	-	-	-	1.7%
QoQ Delta Rev Chg LTM	0.3%	0.6%	-	-	-	-	0.4%
Op Mgn LTM	7.4%	21.7%	-	-	-	-	14.5%
Op Mgn 3Y Avg	10.2%	19.3%	-	-	-	-	14.7%
QoQ Delta Op Mgn LTM	-0.6%	0.4%	-	-	-	-	-0.1%
CFO/Rev LTM	7.6%	-	-	-	-	-	7.6%
CFO/Rev 3Y Avg	11.3%	-	-	-	-	-	11.3%
FCF/Rev LTM	6.5%	-	-	-	-	-	6.5%
FCF/Rev 3Y Avg	9.9%	-	-	-	-	-	9.9%

Valuation

	NKE	GIL	AGIE	JPO	MPJS	ZCXX	Median
Name	Nike	Gildan A.	Angie	JP Outfi.	MPJS	Zc Gold .
Mkt Cap	97.0	8.7	-	-	-	-	52.9
P/S	2.2	2.6	-	-	-	-	2.4
P/EBIT	30.1	12.7	-	-	-	-	21.4
P/E	35.6	18.2	-	-	-	-	26.9
P/CFO	29.2	-	-	-	-	-	29.2
Total Yield	2.8%	6.3%	-	-	-	-	4.5%
Dividend Yield	0.0%	0.8%	-	-	-	-	0.4%
FCF Yield 3Y Avg	3.8%	-	-	-	-	-	3.8%
D/E	0.1	0.2	-	-	-	-	0.2
Net D/E	0.0	0.2	-	-	-	-	0.1

Returns

	NKE	GIL	AGIE	JPO	MPJS	ZCXX	Median
Name	Nike	Gildan A.	Angie	JP Outfi.	MPJS	Zc Gold .
1M Rtn	8.0%	3.2%	-	-	-	-	5.6%
3M Rtn	-12.3%	6.3%	-	-	-	-	-3.0%
6M Rtn	6.0%	23.4%	-	-	-	-	14.7%
12M Rtn	-14.2%	20.1%	-	-	-	-	3.0%
3Y Rtn	-36.8%	113.7%	-	-	-	-	38.4%
1M Excs Rtn	6.7%	1.9%	-	-	-	-	4.3%
3M Excs Rtn	-16.3%	-0.3%	-	-	-	-	-8.3%
6M Excs Rtn	-9.4%	8.0%	-	-	-	-	-0.7%
12M Excs Rtn	-28.4%	5.1%	-	-	-	-	-11.7%
3Y Excs Rtn	-107.9%	47.7%	-	-	-	-	-30.1%

Comparison Analyses

	Title
0	How Does Nike Stock Stack Up Against Its Peers?
1	NKE or UA - With 15% Return Forecast, UA Probably Deserves Your Money
2	Nike vs. Ralph Lauren: With Return Forecast Of -2.1%, Ralph Lauren Is A Better Bet
3	Nike vs. Tapestry: With Return Forecast Of -1.3%, Tapestry Is A Better Bet
4	Nike vs. lululemon athletica: With Return Forecast Of 46%, lululemon athletica Is A Better Bet
5	COST Could Deliver 15% Returns And Outperform NKE
6	NKE Looks Stronger Than TMUS With 11% Return Potential
7	LLY Looks Stronger Than NKE With 53% Return Potential
8	Nike vs. TJX: With Return Forecast Of 17%, TJX Is A Better Bet
9	Nike vs. The Coca-Cola Company: With Return Forecast Of 6.3%, Nike Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 5/31	LTM	2025	2024	2023	2022	2021	2020
Period End	8/31/2025	5/31/2025	5/31/2024	5/31/2023	5/31/2022	5/31/2021	5/31/2020
Filing Date	10/1/2025	7/17/2025	7/25/2024	7/20/2023	7/21/2022	7/20/2021	7/24/2020
Key Financials
Total Revenue	46,440	46,309	51,362	51,217	46,710	44,538	37,403
EBITDA	4,242	4,510	7,155	6,774	7,515	7,734	4,234
Operating Income	3,420	3,702	6,311	5,915	6,675	6,937	3,115
Net Income	2,895	3,219	5,700	5,070	6,046	5,727	2,539
EPS	1.95	2.17	3.76	3.27	3.83	3.64	1.63
Growth Rates
Total Revenue Growth	-7.1%	-9.8%	0.3%	9.6%	4.9%	19.1%	-4.4%
EBITDA Growth	-37.2%	-37.0%	5.6%	-9.9%	-2.8%	82.7%	-22.9%
Operating Income Growth	-42.2%	-41.3%	6.7%	-11.4%	-3.8%	122.7%	-34.7%
Net Income Growth	-45.4%	-43.5%	12.4%	-16.1%	5.6%	125.6%	-37.0%
Margins
EBITDA Margin	9.1%	9.7%	13.9%	13.2%	16.1%	17.4%	11.3%
Operating Income Margin	7.4%	8.0%	12.3%	11.5%	14.3%	15.6%	8.3%
Net Income Margin	6.2%	7.0%	11.1%	9.9%	12.9%	12.9%	6.8%
Cash & Debt
Total Cash	8,575	9,151	11,582	10,675	12,997	13,476	8,787
Total Debt	11,061	11,018	11,952	12,144	12,627	12,813	13,015
Net Debt / (Cash)	2,486	1,867	370	1,469	-370	-663	4,228
Cash Flows
Net Cash from Operations	3,526	3,698	7,429	5,841	5,188	6,657	2,485
Free Cash from Operations	3,009	3,268	6,617	4,872	4,430	5,962	1,399
Returns to Shareholders
Dividends	2,333	2,300	2,169	2,012	1,837	1,638	1,452
Share Repurchases	1,927	2,985	4,250	5,480	4,014	608	3,067

$ Mil \| FY: 5/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	8/31/2025	5/31/2025	2/28/2025	11/30/2024	8/31/2024	5/31/2024	2/29/2024	11/30/2023	8/31/2023	5/31/2023	2/28/2023	11/30/2022
Filing Date	10/1/2025	7/17/2025	4/3/2025	1/3/2025	10/7/2024	7/25/2024	4/4/2024	1/5/2024	10/6/2023	7/20/2023	4/6/2023	1/5/2023
Key Financials Quarterly
Total Revenue	11,720	11,097	11,269	12,354	11,589	12,606	12,429	13,388	12,939	12,825	12,390	13,315
Ebitda	1,125	518	1,030	1,569	1,393	1,750	1,606	2,009	1,790	1,457	1,556	1,906
Operating Income	927	321	788	1,384	1,209	1,546	1,336	1,825	1,604	1,221	1,412	1,587
Net Income	727	211	794	1,163	1,051	1,500	1,172	1,578	1,450	1,031	1,240	1,331
EPS	0.49	0.14	0.54	0.78	0.70	0.99	0.77	1.04	0.95	0.67	0.80	0.85
Key Financials TTM
Total Revenue TTM	46,440	46,309	47,818	48,978	50,012	51,362	51,581	51,542	51,469	51,217	50,626	49,107
Ebitda TTM	4,242	4,510	5,742	6,318	6,758	7,155	6,862	6,812	6,709	6,774	7,081	7,337
Operating Income TTM	3,420	3,702	4,927	5,475	5,916	6,311	5,986	6,062	5,824	5,915	6,162	6,379
Net Income TTM	2,895	3,219	4,508	4,886	5,301	5,700	5,231	5,299	5,052	5,070	5,478	5,634
Growth Rates Quarterly
Total Revenue Growth	1.1%	-12.0%	-9.3%	-7.7%	-10.4%	-1.7%	0.3%	0.5%	2.0%	4.8%	14.0%	17.2%
EBITDA Growth	-19.2%	-70.4%	-35.9%	-21.9%	-22.2%	20.1%	3.2%	5.4%	-3.5%	-17.4%	-14.1%	15.7%
Operating Income Growth	-23.3%	-79.2%	-41.0%	-24.2%	-24.6%	26.6%	-5.4%	15.0%	-5.4%	-16.8%	-13.3%	9.1%
Net Income Growth	-30.8%	-85.9%	-32.3%	-26.3%	-27.5%	45.5%	-5.5%	18.6%	-1.2%	-28.4%	-11.2%	-0.4%
Margins Quarterly
EBITDA Margin	9.6%	4.7%	9.1%	12.7%	12.0%	13.9%	12.9%	15.0%	13.8%	11.4%	12.6%	14.3%
Operating Income Margin	7.9%	2.9%	7.0%	11.2%	10.4%	12.3%	10.7%	13.6%	12.4%	9.5%	11.4%	11.9%
Net Income Margin	6.2%	1.9%	7.0%	9.4%	9.1%	11.9%	9.4%	11.8%	11.2%	8.0%	10.0%	10.0%
Cash & Debt
Total Cash	8,575	9,151	10,393	9,761	10,294	11,582	10,573	9,927	8,790	10,675	10,802	10,621
Total Debt	11,061	11,018	11,911	12,065	12,126	11,952	12,101	12,177	12,177	12,144	12,566	12,525
Net Debt / (Cash)	2,486	1,867	1,518	2,304	1,832	370	1,528	2,250	3,387	1,469	1,764	1,904
Cash Flows Quarterly
FCF from Operations	222	463	1,792	1,049	394	2,619	2,059	2,817	-66	2,253	2,230	1,001
Cash Flows TTM
FCF from Operations TTM	3,526	3,698	5,854	6,121	7,889	7,429	7,063	7,234	5,418	5,841	4,739	2,678
Returns to Shareholders Quarterly
Dividends	591	591	594	557	558	560	562	523	524	524	528	480
Share Repurchases	126	199	506	1,096	1,184	1,036	883	1,198	1,133	1,379	1,551	1,567
Return on Invested Capital (ROIC) Quarterly
ROIC	17.6%	5.4%	18.9%	27.9%	25.3%	38.8%	30.2%	39.3%	35.0%	28.6%	33.5%	35.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	17.0%	19.4%	26.7%	28.1%	32.1%	38.8%	34.1%	33.5%	30.3%	34.3%	37.7%	38.5%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Footwear	35,227	35,290	31,237	30,007	24,947
Apparel	13,868	13,933	13,670	12,969	11,042
Equipment	2,112	1,755	1,650	1,411	1,305
Other	155	239	153	151	109
Total	51,362	51,217	46,710	44,538	37,403

Price Behavior

Price Behavior

Market Price	$65.69
Market Cap ($ Bil)	97.0
First Trading Date	12/02/1980
Distance from 52W High	-17.7%
	50 Days	200 Days
DMA Price	$65.80	$67.13
DMA Trend	down	down
Distance from DMA	-0.2%	-2.1%
	3M	1YR
Volatility	29.7%	39.9%
Downside Capture	169.36	125.62
Upside Capture	63.47	94.67
Correlation (SPY)	35.6%	50.9%

NKE Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.41	0.87	0.96	1.23	1.03	0.97
Up Beta	-0.19	0.46	0.61	0.88	1.04	1.04
Down Beta	-2.11	0.26	0.29	0.71	0.89	0.89
Up Capture	79%	76%	60%	143%	90%	48%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	8	19	30	60	113	363
Down Capture	100%	151%	186%	165%	116%	104%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	22	32	64	134	382

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of NKE With Other Asset Classes (Last 1Y)
	NKE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-14.2%	-46.1%	14.6%	57.6%	4.7%	-5.6%	-3.5%
Annualized Volatility	39.6%	55.9%	19.6%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.30	-0.77	0.57	2.22	0.10	-0.47	0.03
Correlation With Other Assets		24.6%	51.0%	-5.4%	17.7%	41.7%	21.1%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of NKE With Other Asset Classes (Last 5Y)
	NKE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-12.2%	-4.8%	15.1%	18.0%	11.7%	4.8%	40.5%
Annualized Volatility	34.3%	32.7%	17.1%	15.5%	18.8%	19.0%	49.0%
Sharpe Ratio	-0.30	-0.04	0.71	0.93	0.51	0.17	0.68
Correlation With Other Assets		41.2%	54.8%	4.2%	11.4%	42.1%	20.3%

Based On 10-Year Data

		Comparison of NKE With Other Asset Classes (Last 10Y)
	NKE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.1%	5.0%	14.5%	14.2%	5.7%	5.3%	76.1%
Annualized Volatility	31.5%	27.1%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.11	0.24	0.69	0.79	0.25	0.23	0.94
Correlation With Other Assets		50.5%	59.4%	-0.1%	17.8%	46.7%	14.7%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	38,391,572
Short Interest: % Change Since 10312025	4.4%
Average Daily Volume	17,321,330
Days-to-Cover Short Interest	2.22
Basic Shares Quantity	1,476,600,000
Short % of Basic Shares	2.6%

Returns Analyses

	Title
0	Can Nike Stock Hold Up When Markets Turn?
1	Nike During 2008 Recession vs. 2022 Inflation Shock: NKE Stock Has 153% Upside If It Recovers To Pre-Inflation Shock Levels
2	[10/9/2021] Nike (NKE) Stock Price Forecast: AI Forecasts NKE Stock Price To Be Around $156.10 In A Month (Up 2.4%)
3	Nike Total Shareholder Return (TSR): -10.3% in 2023 and 3.2% 3-yr returns (above peer average)

SEC Filings

Expand for More

Report Date	Filing Date	Filing
8312025	10012025	10-Q 8/31/2025
5312025	7172025	10-K 5/31/2025
2282025	4032025	10-Q 2/28/2025
11302024	1032025	10-Q 11/30/2024
8312024	10072024	10-Q 8/31/2024
5312024	7252024	10-K 5/31/2024
2292024	4042024	10-Q 2/29/2024
11302023	1052024	10-Q 11/30/2023
8312023	10062023	10-Q 8/31/2023
5312023	7202023	10-K 5/31/2023
2282023	4062023	10-Q 2/28/2023
11302022	1052023	10-Q 11/30/2022
8312022	10062022	10-Q 8/31/2022
5312022	7212022	10-K 5/31/2022
2282022	4052022	10-Q 2/28/2022
11302021	1062022	10-Q 11/30/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	KNUDSTORP JORGEN VIG		11102025	Buy	62.09	16,150	1,002,754	1,327,981	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Nike (NKE)

Market Price (12/5/2025): $65.7 | Market Cap: $97.0 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Nike (NKE)

Market Price (12/5/2025): $65.7Market Cap: $97.0 BilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods

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About Nike (NKE)

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Athletic Footwear

Sports Apparel

Sports Equipment

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Market Price (12/5/2025): $65.7 | Market Cap: $97.0 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Market Price (12/5/2025): $65.7
Market Cap: $97.0 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods