NIKE, Inc. (NKE)

Consumer Discretionary · Apparel, Accessories & Luxury Goods · US stock · S&P 500 component

$38.32 ▲ +0.79 (2.10%)

At close 22 Oct 2026 · USD · Volume 28,081,115

Compare with TPR

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueUndervalued

$51 +32.2% to fair value

$25fair band $43–$61$76

Day's range

$36.91 – $38.44

52-week range

$31.97 – $70.44

Red flags⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk

About NIKE, Inc.

Nike designs, develops and markets athletic footwear, apparel, equipment and accessories. Its brands include Nike, Jordan and Converse, and its products serve runners, basketball players, footballers and everyday customers. Goods reach shoppers through Nike-owned stores, its websites and apps, and wholesale partners such as sporting goods chains, department stores and independent retailers, with manufacturing carried out by contract factories around the world.

Nike earns revenue from products supplied through its direct channels and through wholesale customers, and from licensing arrangements. Revenue for the last twelve months was $45.9 billion, though revenue growth over the last three years was -3.2% a year, a decline. The operating margin is 8.5%, and the business earns a profit of 19% on the capital invested in it. It carries net debt of 0.2 times EBITDA. The company pays a dividend with a yield of 4.3%. On the site's X-Ray Score it receives 46 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $31.97 – $70.44Volume 28,081,115Daily, split-adjusted

Vitals

Market cap$56.9B

52-week range$31.97 – $70.44

Volume (last day)28,081,115

P/E (TTM)18.4

EBIT / EV yield6.7%

Free-cash-flow yield3.7%

Dividend yield4.3%

Revenue (TTM)$45.9B

Net income (TTM)$3.1B

Operating margin8.5%

Return on capital19.1%

Debt incl. leases$7.9B

Cash & securities$6.9B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$51middle half of models $44 – $57

Undervalued +32.2% to fair value

Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $38

Undervalued < $43Fair $43 – $61Overvalued > $61

P/E multiple

$42

P/B multiple · not used

$78

P/S multiple

$69

EV/EBITDA multiple

$47

EV/EBIT multiple

$52

EV/revenue multiple

$61

10-year DCF, EBITDA exit

$44

5-year DCF, EBITDA exit

$45

10-year DCF, revenue exit

$45

5-year DCF, revenue exit

$46

10-year DCF, growth exit

$38

5-year DCF, growth exit

$36

Dividend discount, stable

$58

Dividend discount, multi-stage

$69

Earnings power value

$57

Growth the price implies

6.8%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, but the price is low

Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 48 The price is not above fair value $51 fair value Debt looks manageable 0.2× EBITDA Revenue has been growing -3.2% a year Profits are backed by cash There are no red flags 5 raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Fair

67/100

Priced about in line with its sector.

See the numbers →

EBIT / EV yield6.7%

Free-cash-flow yield3.7%

Fair value vs price1.3×

Growth Weak

12/100

Growing slower than most of its sector.

See the numbers →

Revenue growth (3y)-3.2%

EPS growth (3y)-13.4%

Growth consistency30%

Profitability Weak

36/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital19.1%

Operating margin8.5%

Gross profitability52.3%

Financial health Fair

59/100

Balance sheet is in typical shape for its sector.

See the numbers →

Piotroski F-Score5 / 9

Net debt / EBITDA0.2×

Interest coverNo interest cost

Dividends Fair

58/100

Dividend is typical for its sector.

See the numbers →

Dividend yield4.3%

Dividends vs free cash flow116%

Dividend growth6.2%

Quarterly results: last 6 quarters

-12.0%

May '25

+1.1%

Aug '25

+0.6%

Nov '25

+0.1%

Feb '26

-1.1%

May '26

-4.3%

Aug '26

Revenue against the same quarter a year earlier. Latest quarter revenue $11.2B, diluted EPS $0.48.

Compare with peers

LULU lululemon athletica in...76 TPR Tapestry, Inc.63 RL Ralph Lauren Corp62

Other Apparel, Accessories & Luxury Goods companies by X-Ray Score.

SWOT analysis: NIKE, Inc.

Strengthsinside the company

Net debt is only 0.2x EBITDA.
Operating profit covers interest 50x, so debt costs are a small drag.

Weaknessesinside the company

Return on invested capital of 19.1% is well below the 44.8% median of industry peers.
Operating margin of 8.5% is thin against 17.8% for industry peers.
Revenue has fallen 3.2% a year over three years while industry peers grew 8.0%.
Earnings per share have declined 13.4% a year over three years.

Opportunitiesvaluation and setting

The price is 32% below our fair value estimate, with the gap larger than the margin we allow for error.

Threatsvaluation and setting

Our checks raised: Dividend may be at risk; Dividend may be at risk.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare NKE with peers and sector

Medians of 3 Apparel, Accessories & Luxury Goods peers and of 46 Consumer Discretionary stocks in our universe. Largest peers (X-Ray Score): TPR 63, RL 62, LULU 76.

Metric	NKE	Peers	Sector
X-Ray Score (out of 100)	46	63	51
Valuation	67	64	48
Growth	12	68	53
Profitability	36	65	52
Financial health	59	75	49
Dividends	58	–	51

Sector leaders: highest X-Ray Score in Consumer Discretionary

NKE ranks #31 of 47 in Consumer Discretionary and #4 of 4 in Apparel, Accessories & Luxury Goods by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 DECK Deckers Outdoor Corp	85
#2 LULU lululemon athletica inc.	76
#3 BKNG Booking Holdings Inc.	70
#4 LVS Las Vegas Sands Corp	64
#5 CMG Chipotle Mexican Grill Inc	64
…
#31 NKE NIKE, Inc. (this stock)	46

Metric	NKE	Peers	Sector
P/E ratio	18.4x	15.7x	21.1x
PEG ratio	–	0.67	1.93
Price / book	3.7x	8.6x	7.5x
Price / sales	1.2x	2.8x	2.2x
EV / EBITDA	12.4x	12.9x	15.1x
Price / free cash flow	27.0x	–	22.2x
Dividend yield	4.3%	–	1.9%
Gap to our fair value	+32.2%	–	+3.5%

Metric	NKE	Peers	Sector
Price change, 1 month	+6.1%	+1.2%	+4.0%
Price change, 3 months	−8.3%	−8.2%	+0.1%
Price change, 6 months	−14.5%	−21.5%	−2.6%
Price change, 1 year	−42.7%	+0.0%	−6.9%

Metric	NKE	Peers	Sector
Market value	$56.9B	$23.4B	$39.4B
Revenue (last 12 months)	$45.9B	$8.4B	$17.1B
EBITDA (last 12 months)	$4.6B	$2.1B	$2.8B
Net income (last 12 months)	$3.1B	$1.4B	$1.7B
Free cash flow (last 12 months)	$2.1B	–	$1.7B

Metric	NKE	Peers	Sector
Revenue growth, last year	+0.2%	+14.2%	+5.0%
Revenue growth, 3 years a year	−3.2%	+8.0%	+6.6%
EPS growth, 3 years a year	−13.4%	+25.7%	+5.2%
Free cash flow growth, 3 years a year	−23.5%	–	+12.3%
Dividend growth	+6.2%	–	+6.7%

Metric	NKE	Peers	Sector
Gross margin	43.1%	70.3%	41.2%
EBITDA margin	10.1%	22.7%	19.3%
Operating margin	8.5%	17.8%	15.0%
Net margin	6.7%	12.8%	11.4%
Return on invested capital	19.1%	44.8%	24.9%
Return on equity	20.3%	36.1%	36.1%

Metric	NKE	Peers	Sector
Net debt / EBITDA	0.2x	-0.5x	2.1x
Interest cover	50.0x	22.4x	22.4x
Current ratio	2.1x	2.0x	1.1x
Piotroski F-score (0 to 9)	5	8	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for NKE

Each factor is rated by where NKE stands among the 47 Consumer Discretionary stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 5 Good · 5 Average · 12 Bad of 22 Growth: 0 · 0 · 3 Profitability: 0 · 2 · 3 Financial strength: 3 · 0 · 1 Valuation: 2 · 3 · 0 Cash flow: 0 · 0 · 4 Efficiency: 0 · 0 · 1

Factor	NKE	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	−3.2%	Bad beats 8%	+6.5%	–	–
Revenue growth, last year	+0.2%	Bad beats 16%	+4.9%	+0.3%	≈ In line
EPS growth, 3 years a year	−13.4%	Bad beats 24%	+4.0%	–	–
Profitability
Gross margin	43.1%	Average beats 53%	42.5%	43.5%	≈ In line
Operating margin	8.5%	Bad beats 23%	14.9%	12.1%	▼ Worse
Net margin	6.7%	Bad beats 27%	11.4%	9.9%	▼ Worse
Return on invested capital	19.1%	Average beats 37%	24.6%	–	–
Return on equity	20.3%	Bad beats 32%	35.3%	36.2%	▼ Worse
Financial strength
Net debt / EBITDA	0.2x	Good beats 74%	1.8x	0.1x	≈ In line
Interest cover	50.0x	Good beats 76%	25.3x	–	–
Current ratio	2.07	Good beats 90%	1.10	2.40	▼ Worse
Piotroski F-score	5 / 9	Bad beats 24%	6 / 9	–	–
Valuation
P/E ratio	18.4x	Average beats 59%	21.1x	28.0x	▲ Better
Price / book	3.7x	Good beats 71%	7.2x	10.1x	▲ Better
Price / sales	1.2x	Good beats 76%	2.1x	2.8x	▲ Better
EV / EBITDA	12.4x	Average beats 66%	15.0x	19.4x	▲ Better
Free cash flow yield	3.7%	Average beats 35%	4.3%	3.2%	≈ In line
Cash flow
Free cash flow margin	4.6%	Bad beats 21%	10.8%	9.5%	▼ Worse
Cash from operations / net income	0.90	Bad beats 10%	1.37	1.15	▼ Worse
Free cash flow growth, 3 years a year	−23.5%	Bad beats 7%	+12.1%	–	–
Accruals (lower is better)	+0.8%	Bad beats 13%	−5.3%	–	–
Efficiency
Days sales outstanding	42 days	Bad beats 15%	14 days	36 days	▼ Worse

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 5 Good · ● 4 Average · ● 7 Bad

Cash quality

Earnings backed by cashBad

Free-cash-flow yieldAverage

Risk models

Altman Z''Average

Piotroski F-ScoreBad

Growth

EPS growth (3y)Bad

Free-cash-flow growth (3y)Bad

Revenue growth (3y)Bad

Growth consistencyBad

Balance sheet

Current ratioGood

Net debt / EBITDAGood

Interest coverGood

Valuation

Fair value vs priceGood

EBIT / EV yieldGood

Profitability

Return on invested capitalAverage

Operating marginBad

Gross profitabilityAverage

Each check is graded against the company's sector, not a fixed number. Checklist score 44/100.

Financials

	FY22	FY23	FY24	FY25	FY26
Revenue	$46.7B	$51.2B	$51.4B	$46.3B	$46.4B
Operating income	$6.7B	$6.2B	$6.7B	$3.9B	$3.9B
Net income	$6.0B	$5.1B	$5.7B	$3.2B	$3.1B
Operating cash flow	$5.2B	$5.8B	$7.4B	$3.7B	$2.9B
Operating margin	14.2%	12.1%	13.0%	8.4%	8.4%
Free cash flow	$4.4B	$4.9B	$6.6B	$3.3B	$2.2B
Diluted EPS	$3.75	$3.23	$3.73	$2.16	$2.10

Fiscal years, from SEC filings.

Technical summary

Daily

Neutral

8 bullish · 1 neutral · 7 bearish

Weekly

Strongly bearish

2 bullish · 1 neutral · 9 bearish

Monthly

Strongly bearish

0 bullish · 1 neutral · 7 bearish

Moving averages (daily)

SMA 10	36.59	Bullish
EMA 10	36.89	Bullish
SMA 20	35.80	Bullish
EMA 20	36.46	Bullish
SMA 50	37.14	Bullish
EMA 50	37.38	Bullish
SMA 100	39.82	Bearish
EMA 100	39.93	Bearish
SMA 200	46.15	Bearish
EMA 200	45.31	Bearish

Oscillators (daily)

RSI (14)	64.48	Neutral
MACD (12, 26)	0.21	Bullish
Momentum (12)	10.72	Bullish
Stochastic %K (14)	97.89	Bearish
Williams %R (14)	-2.11	Bearish
CCI (20)	130.2	Bearish

Pivot points (classic, last session)

35.81

36.36

37.34

Pivot

37.89

38.87

39.42

40.40

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

1.64 USD

Yield on today's price

4.28%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
1 Sep 2026	0.4100
1 Jun 2026	0.4100
2 Mar 2026	0.4100
1 Dec 2025	0.4100
2 Sep 2025	0.4000
2 Jun 2025	0.4000
3 Mar 2025	0.4000
2 Dec 2024	0.4000
3 Sep 2024	0.3700
3 Jun 2024	0.3700
1 Mar 2024	0.3700
1 Dec 2023	0.3700

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold NKE

ETF	Share of the fund
MOAT VanEck Morningstar Wide Moat	2.02%
CGMM Capital Group U.S. Small and Mid Cap	1.77%
XLY Consumer Discretionary Select Sector S...	1.23%
FDL First Trust Morningstar Dividend Leade...	1.17%
SDY SPDR S&P Dividend	1.14%
FDVV Fidelity High Dividend	0.91%
VALQ American Century STOXX U.S. Quality Va...	0.89%
VCR Vanguard Consumer Discretionary	0.84%

The eight funds with the largest weight in NKE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.