NIKE, Inc. (NKE) financials
NYSE · Consumer Cyclical · Apparel - Footwear & Accessories · 73,000 employees · CEO Elliott J. Hill
- Price
- $38.67 +0.65%
- Market cap
- $57.4B
- Enterprise value
- $61.6B
- Last report
- Q1 '27 filed 2026-10-02
- Next report
- 2026-12-17 EPS est. $0.34
Revenue (TTM)$45.9B-1.2% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)8.2%+0.8 pp vs a year agoOperating income $3.76B
Net income (TTM)$3.09B+6.8% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$2.11B-30.0% vs a year agoCapex $676M
Diluted EPS (TTM)$2.09+7.2% vs a year agoSum of the last 4 quarters
Net cash-$2.7B-8.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $57.4B EV $61.6B
- Revenue
- $45.9B Trailing 12 months
- Revenue growth
- -8% FY2027 consensus
- Profit margin
- 6.7% Net income / revenue, TTM
- P/E
- 18.5× Forward 30.5× (FY2027)
- P/S
- 1.3× Price / sales, TTM
- EV / EBITDA
- 13.5× TTM
- Free cash flow
- $2.11B Trailing 12 months
- Net income
- $3.09B Trailing 12 months
- Revenue estimate
- $42.8B FY2027 consensus
- Earnings
- 2026-12-17 Revenue est. $11.1B
- Dividend
- $1.64 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-01): revenue missed by 0.9%, EPS beat by 10.8%Revenue $11.2B vs $11.3B expected (-0.9%); EPS $0.48 vs $0.43 (+10.8%).
- Revenue growth slowing: -4.3% year on yearQ1 '27 revenue $11.2B, against an average of 0.2% over the four quarters before.
- Operating margin 8.2% (TTM), +0.8 pp on a year agoOperating income grew 10.0% while revenue grew -1.2%.
- Capex 1.5% of revenue (a year ago 1.1%)$676M invested in the last 4 quarters (+30.8% on a year earlier). Free cash flow $2.11B = 68.1% of net income.
- Returned $2.45B to shareholders = 116.2% of free cash flowBuybacks $20M (a year earlier $1.93B), dividends $2.43B, stock-based pay $693M (TTM). More than the free cash flow: paid from cash or debt.
- Diluted share count up 0.4% in a year1.48B diluted shares in Q1 '27, 1.48B a year earlier.
- Net debt $2.7BCash + short-term investments $8.37B, debt incl. leases $11.1B; a year ago net debt $2.48B.
Last quarter: Q1 '27
Quarter ended 2026-08-31. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q1 '27 | Year ago | Change | |
|---|---|---|---|
| Revenue | $11.2B | $11.7B | -4.3% |
| Gross margin | 42.8% | 42.2% | +0.6 pp |
| Operating income | $888M | $927M | -4.2% |
| Operating margin | 7.9% | 7.9% | 0.0 pp |
| Net income | $712M | $727M | -2.1% |
| Diluted EPS | $0.48 | $0.49 | -2.0% |
| Operating cash flow | $135M | $222M | -39.2% |
| Capex | $199M | $207M | -3.9% |
| Free cash flow | -$64M | $15M | -526.7% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $158M | $185M | -14.6% |
Reported vs consensus
2026-10-01| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $11.2B | $11.3B | -0.9% |
| EPS (as estimated) | $0.48 | $0.43 | +10.8% |
From the report of 2026-10-01 for Q1 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q1 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Footwear | $7.18B | – | 64.0% | $37.7B | – | |
| Apparel | $4.01B | – | 35.8% | $19.7B | – | |
| Product and Service, Other | $26M | – | 0.2% | $169M | – |
Revenue by region
share of total| Segment | Q1 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| North America | $5.13B | – | 46.8% | $25.6B | – | |
| Europe, Middle East And Africa Segment | $3.18B | – | 29.0% | $15.7B | – | |
| Asia Pacific And Latin America Segment | $1.46B | – | 13.4% | $7.71B | – | |
| Greater China | $1.18B | – | 10.8% | $7.03B | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $2.78B
- Capex
- -$676M
- Buybacks
- -$20M
- Dividends
- -$2.43B
- Acquisitions
- $0
- Net debt issued
- $1M
- Stock-based compensation
- $693M
- Free cash flow
- $2.11B
- Returned to shareholders / FCF
- 116.2%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 18.5× | 27.7× | 21.9× – 32.2× |
| EV / EBITDA | 13.5× | 20.2× | 15.7× – 24.6× |
| EV / Sales | 1.3× | 2.8× | 1.5× – 4.1× |
| Price / FCF | 27.3× | 31.3× | 21.8× – 42.4× |
| Price / Book | 3.8× | 9.1× | 4.6× – 12.3× |
| FCF yield | 3.7% | 3.4% | 2.4% – 4.6% |
| Return on invested capital | 10.3% | 15.5% | 10.7% – 19.9% |
| Return on equity | 21.2% | 32.1% | 20.9% – 39.6% |
Analysts
Consensus target $37.15 (-3.9%)
range $19.00 – $60.00 · rating Buy
Strong buy1
Buy33
Hold31
Sell8
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $42.8B | -7.7% | $1.27 | -39.6% | 30.5× | 30 |
| FY2028 | $43B | +0.5% | $1.50 | +18.2% | 25.8× | 31 |
| FY2029 | $44.1B | +2.6% | $1.82 | +21.4% | 21.2× | 19 |
| FY2030 | $48.6B | +10.0% | $2.42 | +32.8% | 16.0× | 17 |
| FY2031 | $46.4B | -4.4% | $3.00 | +24.1% | 12.9× | 9 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 211 figures NIKE, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| – | – | – | 0.3% | – | – | |
| – | – | – | $113M | – | – | |
| – | – | – | $642M | – | – | |
| – | – | – | $502M | – | – | |
| – | – | – | $126M | – | – | |
| Accounts Payable, Current | $3.42B | $3.77B | -9.3% | $3.6B | $3.48B | +3.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $5.24B | $4.96B | +5.6% | $5.93B | $4.72B | +25.7% |
| Accrued Income Taxes, Current | $178M | $706M | -74.8% | $377M | $669M | -43.6% |
| Accrued Liabilities, Current | $5.34B | $5.92B | -9.9% | $6.09B | $5.92B | +3.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $6.53B2026-05-31 | $6.1B | +6.9% | $6.53B | $6.1B | +6.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$39M | -$308M | +87.3% | -$141M | -$258M | +45.3% |
| Additional Paid in Capital, Common Stock | $15.3B | $14.5B | +5.8% | $15.2B | $14.2B | +6.8% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $158M | $185M | -14.6% | $715M | $709M | +0.8% |
| Asset Impairment Charges | $9M | $8M | +12.5% | $50M | $33M | +51.5% |
| Assets | $37.8B | $37.3B | +1.2% | $38.4B | $36.6B | +5.0% |
| Assets, Current | $23.7B | $23.9B | -0.9% | $24.6B | $23.4B | +5.3% |
| Assets, Fair Value Disclosure | $8.37B | – | – | $9.03B | $9.15B | -1.4% |
| Capital Expenditures Incurred but Not yet Paid | $225M | $101M | +122.8% | $174M | $184M | -5.4% |
| Cash | $1.57B | – | – | $1.72B | $1.22B | +40.8% |
| Cash and Cash Equivalents, at Carrying Value | $6.9B | $7.02B | -1.7% | $7.56B | $7.46B | +1.3% |
| Cash and Cash Equivalents, Fair Value Disclosure | $6.9B | – | – | $7.56B | $7.46B | +1.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $6.9B | $7.02B | -1.7% | $7.56B | $7.46B | +1.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$660M | -$440M | -50.0% | $99M | -$2.4B | +104.1% |
| Common Stock, Dividends, Per Share, Declared | $0.41 | $0.40 | +2.5% | $1.63 | $1.57 | +3.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $814M | $677M | +20.2% | $3.23B | $2.91B | +10.9% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $0 | $0 | – | – | – | – |
| Contract with Customer, Refund Liability, Current | $1.1B2026-05-31 | $1.28B | -13.9% | $1.1B | $1.28B | -13.9% |
| Cost of Goods and Services Sold | $6.42B | $6.78B | -5.3% | $26.5B | $26.5B | -0.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $443M | $358M | +23.7% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $345M | $475M | -27.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $888M | $954M | -6.9% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $100M | $121M | -17.4% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $866M | $969M | -10.6% | $874M | $911M | -4.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $599M | $582M | +2.9% | $590M | $776M | -24.0% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent | $1.47B | $1.55B | -5.5% | $1.46B | $1.69B | -13.2% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $184M | $228M | -19.3% | $184M | $249M | -26.1% |
| Deferred Compensation Liability, Classified, Noncurrent | $1.25B2026-05-31 | $1.1B | +13.7% | $1.25B | $1.1B | +13.7% |
| Deferred Compensation Plan Assets | $1.35B2026-05-31 | $1.12B | +19.9% | $1.35B | $1.12B | +19.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$262M | -$135M | -94.1% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $156M | -$141M | +210.6% |
| Deferred Income Tax Expense (Benefit) | -$67M | -$25M | -168.0% | -$96M | -$288M | +66.7% |
| Deferred Income Taxes and Other Assets, Noncurrent | $5.79B | $5.35B | +8.2% | $5.67B | $5.18B | +9.6% |
| Deferred Income Taxes and Other Liabilities, Noncurrent | $2.57B | $2.4B | +6.7% | $2.44B | $2.29B | +6.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $10M | -$12M | +183.3% |
| Deferred Tax Assets, Gross | $3.5B2026-05-31 | $3.32B | +5.5% | $3.5B | $3.32B | +5.5% |
| Deferred Tax Assets, Inventory | $90M2026-05-31 | $98M | -8.2% | $90M | $98M | -8.2% |
| Deferred Tax Assets, Net | $2.59B2026-05-31 | $2.54B | +2.0% | $2.59B | $2.54B | +2.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $3.31B2026-05-31 | $3.27B | +1.3% | $3.31B | $3.27B | +1.3% |
| Deferred Tax Assets, Operating Loss Carryforwards | $96M2026-05-31 | $75M | +28.0% | $96M | $75M | +28.0% |
| Deferred Tax Assets, Other | $267M2026-05-31 | $212M | +25.9% | $267M | $212M | +25.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $449M2026-05-31 | $387M | +16.0% | $449M | $387M | +16.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $313M2026-05-31 | $285M | +9.8% | $313M | $285M | +9.8% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $70M2026-05-31 | $143M | -51.0% | $70M | $143M | -51.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Returns and Allowances | $175M2026-05-31 | $205M | -14.6% | $175M | $205M | -14.6% |
| Deferred Tax Assets, Valuation Allowance | $192M2026-05-31 | $51M | +276.5% | $192M | $51M | +276.5% |
| Deferred Tax Liabilities, Gross | $717M2026-05-31 | $725M | -1.1% | $717M | $725M | -1.1% |
| Deferred Tax Liabilities, Leasing Arrangements | $343M2026-05-31 | $377M | -9.0% | $343M | $377M | -9.0% |
| Deferred Tax Liabilities, Other | $14M2026-05-31 | $4M | +250.0% | $14M | $4M | +250.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $231M2026-05-31 | $225M | +2.7% | $231M | $225M | +2.7% |
| Deferred Tax Liabilities, Undistributed Foreign Earnings | $129M2026-05-31 | $119M | +8.4% | $129M | $119M | +8.4% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-08-31, 10-K 2026-05-31, 10-Q 2026-02-28, 10-Q 2025-11-30, 10-Q 2025-08-31, 10-K 2025-05-31, 10-Q 2025-02-28, 10-Q 2024-11-30, 10-Q 2024-08-31
Data as of 2026-11-02