Loading…
World's largest athletic footwear and apparel brand, selling globally through wholesale retailers and its own direct-to-consumer channels.
World's largest athletic footwear and apparel brand, selling globally through wholesale retailers and its own direct-to-consumer channels.
Designs and markets but outsources nearly all manufacturing to contract factories, mainly in Vietnam, Indonesia and China. It sells through wholesale partners and its own stores and apps; the mix shifted toward direct sales, then back toward wholesale from 2024. Co-founder Phil Knight's family holds the voting Class A shares. Jordan and Converse are subsidiaries.
Moat: wide (brand, scale, distribution). Globally dominant brand built on athlete endorsements and marketing scale sustains premium pricing.
Headquarters: Beaverton, Oregon, US · Founded: 1964 · Employees: 73,000
Size Nike (NKE) is a United States Consumer Discretionary company (Apparel/Footwear) with a market value of $57.3B, the 227th largest of 3,117 United States companies the cockpit tracks. Shares closed at $38.59 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against +7.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 9 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +13.6%); the operating margin is 8.8% (peer median 19.0%).
Valuation It trades at 30.4× forward earnings against a peer median of 18.7× (3rd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.6 points above its cost of capital (9.2% WACC).
Credit Nike has 7 bonds outstanding ($7.00B), rated A by the agencies and trading like A at a weighted spread of 77 bp.
Short interest Short interest is 8.6% of the free float (15 Oct 2026).
Next results Next results expected around 17 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $45.9B | $46.4B | $46.4B | $51.4B | $51.2B |
| Revenue growth | — | 0% | -10% | 0% | — |
| Gross profit | $19.9B | $20.0B | $19.6B | $22.6B | $21.7B |
| EBITDA | $4.80B | $4.91B | $4.27B | $6.84B | $6.02B |
| Net income | $3.09B | $3.11B | $3.22B | $5.70B | $5.07B |
| Free cash flow | $2.10B | $2.18B | $3.27B | $6.62B | $4.87B |
| Capital expenditure | $676M | $684M | $430M | $812M | $969M |
| Total debt | $11.1B | $11.0B | $11.0B | $12.0B | $12.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
| adidas ADS.DE | $33.2B | +19% | +8% | 9% | 18.3× | 3.5% |
| Lululemon Athletica LULU | $12.8B | -16% | +2% | 18% | 13.4× | -8.9% |
| Puma PUM.DE | $4.42B | +4% | -19% | -6% | n/a | n/a |
| On Holding AG Class A ONON | $12.3B | +6% | +29% | 14% | 20.0× | 22.0% |
| Deckers Brands DECK | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NKE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | +8.2% | 3rd highest of 9 |
| 6-month return | -12.6% | +7.5% | 2nd lowest of 9 |
| Distance from 52-week high | -43.8% | -9.7% | lowest of 9 |
| Revenue growth (TTM) | -1.4% | +13.6% | 2nd lowest of 9 |
| Operating margin | 8.8% | 19.0% | lowest of 9 |
| Forward P/E | 30.4× | 18.7× | 3rd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 7.0% | 10.6% | 3rd least demanding of 9 |
| Growth delivered (Del g) | +0.8% | +14.8% | lowest of 9 |
| Hurdle (Req g minus delivered) | +6.2 pp | -2.5 pp | most demanding of 9 |
| ROIC minus cost of capital | +8.6 pp | +14.9 pp | 2nd lowest of 9 |
| EV / EBITDA | 12.5× | 14.4× | 4th cheapest of 8 |
| Net debt / EBITDA | 0.6× | -0.2× | 4th most indebted of 8 |
| Bond spread | 77 bp | 61 bp | 2nd widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nike NKE | United States | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% | +0.8% |
| adidas ADS.DE | Germany | $33.2B | +19% | +8% | 9% | 18.3× | 3.5% | +6.1% |
| Anta Sports 2020.HK | Hong Kong | $28.2B | +2% | +17% | 21% | 12.5× | -0.7% | +16.9% |
| Next NXT.L | United Kingdom | $23.8B | +24% | +13% | 19% | 18.8× | 12.5% | +14.3% |
| Ralph Lauren RL | United States | $22.4B | +5% | +15% | 17% | 18.6× | 11.0% | +13.0% |
| Asics 7936.T | Japan | $20.7B | +10% | +28% | 19% | 27.1× | 14.1% | +19.8% |
| Hermes International SCA RMS.PA | France | $160B | -14% | +3% | 42% | 30.9× | 17.9% | +20.2% |
| Ryohin Keikaku 7453.T | Japan | $16.4B | +31% | +18% | 11% | 32.4× | 9.5% | +15.3% |
| LVMH Moet Hennessy Louis Vuitton MC.PA | France | $226B | -11% | -4% | 22% | 18.6× | 10.2% | +12.6% |
Nike has 7 bonds outstanding with $7.00B face value. The agencies rate it A; its bonds trade like A. Weighted yield 5.82%, a spread of 77 bp over government bonds.