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$37.13
Market Capi
$55B
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
2.7x
P/S 27Ei
1.3x
P/S 29Ei
1.2x
EV/EBIT 27Ei
23x
EV/EBIT 29Ei
15x
P/E 27Ei
29x
P/E 29Ei
19x
P/S 27Ei
1.3x
EV/EBIT 27Ei
23x
P/E 27Ei
29x
P/S 29Ei
1.2x
EV/EBIT 29Ei
15x
P/E 29Ei
19x
Revenue
2027E
$46B
Gross Margini
43%
Hist. CAGRi
-3.2%
Proj. CAGRi
2.0%
EBIT
2027E
$3.2B
Op. Margini
9.0%
Hist. CAGRi
-11%
Proj. CAGRi
4.8%
Net profit
2027E
$2.6B
Net Margini
6.7%
Hist. CAGRi
-15%
Proj. CAGRi
6.9%
Business Model
Recent Developments
Average Targeti
$39.99+18%
Consensusi
Hold
39 analysts covering
Net debti
$2.1B
Div. Yieldi
4.4%
Dilutioni
0.3%
Market Capi
$55B
P/E 27Ei
29x
Adj. P/E (fwd.)i
2.7x
Revenue 27E
$46B
Proj. CAGRi
2.0%
Gross Margini
43%
EBIT 27E
$3.2B
Proj. CAGRi
4.8%
Op. Margini
9.0%
Net Profit 27E
$2.6B
Proj. CAGRi
6.9%
Net Margini
6.7%
Average Targeti
$39.99+18%
Consensusi
Hold
39 analysts covering
Profile
Nike designs, develops, and markets athletic footwear, apparel, and equipment under several brand umbrellas. The company does not manufacture at scale; it contracts production primarily across Vietnam, Indonesia, and China while controlling brand, design, and distribution.
Geographically, North America (~44% of revenue) is the largest region, followed by EMEA (~27%), Greater China (~13%), and Asia Pacific & Latin America (~13%).
Industry
Nike sells primarily to consumers through retail channels — both wholesale partners (department stores, sporting-goods chains, specialty retailers) and its own Nike Direct ecosystem (Nike.com, Nike apps, and 988 company-owned stores). The sportswear and athletic apparel market is large, global, and growing, but intensely competitive: Adidas, On Running, New Balance, and Lululemon all challenge different segments. The market rewards brand heat and product innovation cycles; switching costs are low but emotional brand attachment is high.
Key metrics
Economic moat
Nike's competitive advantage rests on brand equity built over five decades of athlete endorsements, cultural marketing, and product innovation. The Swoosh and Jordan Brand command premium pricing and retail shelf priority that no competitor has replicated at scale. The NikePlus membership ecosystem creates behavioral lock-in through personalization, early-access drops, and run-club integrations. Scale advantages in sourcing, marketing spend (~$4B annually), and retail placement further entrench its position — though the moat is not impenetrable, as On Running's rapid share gains in performance running illustrate.
Phil Knight
Knight co-founded Nike in 1964 (originally Blue Ribbon Sports) and built it into the world's largest athletic footwear and apparel company over five decades. He remains Chairman Emeritus and, together with his family, controls the majority of Nike's Class A voting shares through a supervoting structure, giving the founding family effective control over the board. Knight's cultural influence on Nike's product and marketing philosophy is still widely credited as part of the company's DNA.
Elliott Hill
Hill rejoined Nike as CEO in October 2024 after a 32-year career at the company in various sales, marketing, and regional leadership roles, having retired in 2020. His return signals a deliberate move back to Nike's operational roots after predecessor John Donahoe's tenure was criticized for over-indexing on DTC digital strategy and losing touch with wholesale partners and sports-performance credibility. Hill is executing a "Win Now" playbook focused on rebuilding wholesale relationships, refreshing hero performance products, and restoring cultural heat.
David Denton
Denton became CFO effective August 2026, succeeding Matthew Friend in a planned transition. He joins Nike after serving as CFO of Pfizer since 2022 and, before that, CFO of Lowe's Companies from 2018 to 2022, bringing roughly three decades of public-company finance experience. He is now the primary voice on tariff exposure, margin guidance, and the cost-restructuring program tied to the ongoing turnaround.
Other key figures
Venkatesh Alagirisamy joined as Chief Operating Officer in December 2025, a newly created role designed to sharpen execution beneath Hill. Mark Parker, Nike's CEO from 2006 to 2020, remains on the board as Executive Chairman, providing an additional link to the product-led era that investors associate with Nike's period of strongest growth.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Nike's fiscal 2026 fourth quarter, ended May 31, 2026, produced revenue of $11.0 billion, down 1% on a reported basis and down 4% on a currency-neutral basis year over year.
Diluted EPS came in at $0.72, far above the roughly $0.13 consensus estimate, but the headline beat was driven by a $986 million one-time benefit tied to the expected recovery of IEEPA tariffs; excluding that item, adjusted EPS was closer to $0.20.
The quarter's clearest mix shift was channel-related: wholesale revenue rose to $6.6 billion, while Nike Direct fell to $4.1 billion, as management continues steering volume back toward wholesale partners.
Guidance for the stretch through fiscal Q1 and Q2 2027 calls for revenue down low single digits and gross margin turning positive by fiscal Q2, with Jordan and Nike Sportswear — roughly half of total revenue — expected to stay in negative growth for most of the year.
Recent developments
Nike announced a CFO transition on June 23, 2026: Matthew Friend departed as EVP & CFO, and David Denton, formerly CFO of Pfizer and Lowe's, took over the role effective August 17, 2026.
Board director John Rogers Jr. will not stand for re-election at the September 2026 annual shareholder meeting after serving since 2018.
CEO Elliott Hill has continued rolling out the "Sport Offense" reorganization, restructuring the company around sport-specific teams and reporting five consecutive quarters of double-digit growth in its running business.
Nike also expanded athletic marketing commitments tied to the fall sports calendar, including an expanded NIL partnership with the University of Alabama announced September 8, 2026.
Debate & sentiment
Bulls point to Nike's enduring brand pricing power and a 25-year streak of annual dividend increases, alongside renewed momentum in performance categories like running, where the company has gained several points of market share in North America and Europe.
Skeptics counter that Greater China sales remain in decline and that Nike Digital revenue has now fallen for ten consecutive quarters, arguing the tariff-driven earnings beat masks softer underlying demand.
A further point of debate is whether the incoming CFO tightens capital and cost discipline during the transition, and whether Jordan and Sportswear can return to growth before fiscal 2027 ends, given management's own caution on those categories.
Continued share gains by On Running and Hoka in performance running are cited by bears as evidence the turnaround has not yet reversed competitive share losses.
Consensusi
Hold
Average targeti
$39.99+18%
Highest targeti
$94.00+178%
Lowest targeti
$19.00-44%
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