NIKE, Inc.NKE
NYSE•Consumer Cyclical•Footwear & Accessories
NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic and casual 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, Jumpman, Converse, 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, as well as various plastic products to other manufacturers; 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. (NKE) reported trailing twelve months revenue of $46.52B as of February 2026, a 2.7% decline year-over-year. Quarterly revenue reached $11.28B, reflecting a contraction in sales.
Nike, Inc. generated $2.25B in TTM net income, with quarterly EBITDA of $738.00M. The operating margin contracted from 7.0% to 4.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (4.9%) and net margin (4.6%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 7.0% a year ago, reflecting increased costs or interest expense.
NKE trades at a P/E of 40.9x (a premium multiple) and a P/S of 2.0x. The price-to-book ratio of 6.5x indicates a significant premium over book value.
The company generated $284.00M in free cash flow over the trailing twelve months, a 83.4% decrease year-over-year, indicating cash generation ability. The balance sheet shows $37.06B in total assets with $7.03B in long-term debt against $14.09B in stockholders equity for a debt-to-equity ratio of 0.5, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~8.1% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 28.0% suggests a durable competitive advantage and efficient capital allocation.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 41.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue has softened, declining in 4 quarters. Monitor for further erosion.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation