NIKE, Inc. (NKE) Stock Analysis
Consumer Cyclical · Footwear & Accessories · NYSE
NIKE, Inc. (NKE) posted $46.40B in revenue for fiscal 2026 (up 0.2% year over year), at a 6.7% net margin, and has compounded revenue about 0.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on NIKE, Inc.
NIKE, Inc. has grown revenue from $34.35B to $46.40B over the last 10 fiscal years, compounding about 0.8% a year. The most recent year was up 0.2%, roughly in line with its longer-run pace.
Net margin sits at 6.7%, down 0.3 points year over year on a 42.9% gross margin. It carries about $7.94B of total debt.
At today's valuation the market is pricing in roughly 12.4% annual free-cash-flow growth — versus the -18.2% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from NIKE, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
NIKE, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.35B | $36.40B | $39.12B | $37.40B | $44.54B | $46.71B | $51.22B | $51.36B | $46.31B | $46.40B |
| Gross profit | $15.31B | $15.96B | $17.47B | $16.24B | $19.96B | $21.48B | $22.29B | $22.89B | $19.79B | $19.91B |
| Net income | $4.24B | $1.93B | $4.03B | $2.54B | $5.73B | $6.05B | $5.07B | $5.70B | $3.22B | $3.11B |
| Net margin | 12.3% | 5.3% | 10.3% | 6.8% | 12.9% | 12.9% | 9.9% | 11.1% | 7.0% | 6.7% |
Source: NIKE, Inc. SEC filings (10-K). 19 years of history available in the interactive view.
NIKE, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 25.7% while revenue rose 0.2% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Net margin shrinkingNet margin fell from 9.9% to 6.7% over ~3 years — profitability is compressing.
What growth is priced into NKE stock?
At today's market cap of $61.88B, NIKE, Inc. is priced for free-cash-flow growth of about 12.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $2.18B from the FY ending 2026-05-31). For comparison, free cash flow actually grew -18.2%/yr over the last five fiscal years and revenue 0.8%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 19 years of NIKE, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track NKE in your portfolio →
NIKE, Inc. financial history by metric
Compare NIKE, Inc. with peers
About NIKE, Inc.
NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services for men, women, and kids in North America, Europe, the Middle East, Africa, Greater China, the Asia Pacific, and Latin America. The company offers its products under the NIKE, Jordan, Converse, Jumpman, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. It also provides a line of performance equipment and accessories, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities; and sports apparel, as well as sells products to wholesale customers and directly to consumers through NIKE Direct operations; distributes and licenses casual sneakers, apparel, and accessories; and markets apparel with licensed college and professional team and league logos. In addition, the company offers consumer services and experiences, including sport focused events and activations; fitness and activity apps; sport, fitness, and wellness content; and digital services and features in retail stores. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other wholesale accounts through NIKE-owned retail stores, independent distributors, licensees, sales representatives, and digital platforms. The company was formerly known as Blue Ribbon Sports, Inc. and changed its name to NIKE, Inc. in May 1971. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.
NIKE, Inc. — frequently asked questions
What is NIKE, Inc.'s revenue?
NIKE, Inc. (NKE) reported revenue of $46.40B for fiscal year 2026, up 0.2% from the prior year, according to its SEC filings.
Is NIKE, Inc. profitable?
Yes. NKE earned net income of $3.11B in fiscal 2026, a net margin of 6.7%.
What is NKE's P/E ratio?
NIKE, Inc. trades at a price-to-earnings ratio of about 19.9 based on the latest data in our nightly-refreshed cache.
How fast is NIKE, Inc. growing?
NKE's revenue grew at roughly 0.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does NIKE, Inc. have?
As of fiscal year 2026, NKE carried roughly $7.94B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is NIKE, Inc.'s gross margin?
NKE's gross margin was 42.9% in fiscal 2026 — gross profit of $19.91B on revenue of $46.40B.
What is NIKE, Inc.'s market cap?
NIKE, Inc. (NKE) has a market capitalization of about $61.88B, based on the latest data in our nightly-refreshed cache.
When does NIKE, Inc.'s fiscal year end?
NKE's fiscal year ends in May. Its most recent annual filing covers the fiscal year ending 2026-05-31.
What growth is priced into NKE stock?
At today's market cap of $61.88B, NIKE, Inc. is priced for free-cash-flow growth of about 12.4% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $2.18B from the FY ending 2026-05-31). For comparison, free cash flow actually grew -18.2%/yr over the last five fiscal years and revenue 0.8%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from NIKE, Inc.'s official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.