Nike Inc
NKE—
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Nike Inc AI Insights
Informational only. Not investment advice.Snapshot
- Inventory at 8.1B (17% of revenue TTM) vs 610M reduction YoY - destocking progressing but still elevated vs historical norms[Inventory]
- ROE 21.1% TTM vs industry median 13.9% despite operating margin at industry median 7.4% - capital efficiency driving returns[Return on Equity]
- FCF 3.0B TTM (6.5% yield on market cap) while paying 1.60/share dividend - 82% payout ratio leaves thin margin for error[Free Cash Flow]
Watch Triggers
- Gross Margin: Falls below 40% TTM — Would signal pricing power erosion and deeper discounting cycle than expected
- Inventory: Rises above 8.5B or fails to decline for 2 quarters — Indicates demand weakness requiring further markdowns, pressuring margins
- Free Cash Flow: Drops below 2.4B TTM (current dividend commitment) — Would force dividend cut or debt increase, signaling structural cash issues
Bull Case
Brand dominance with 46.4B TTM revenue (22x industry median) and minimal goodwill (240M, 1.8% of equity) - organic moat, not acquired
Total RevenueGoodwillCommon Stockholders Equity
Net debt only 976M (0.07x equity) with 7.0B cash provides flexibility for buybacks, innovation, or M&A during transition
Net DebtCash and EquivalentsDebt to Equity
Bear Case
P/E 32.6x vs industry median 22.9x despite margin compression - priced for recovery that may not materialize if competition intensifies
PE RatioOperating Margin
Working capital consumed 897M TTM cash; AR and inventory management straining operations during demand uncertainty
Change in Working CapitalInventoryAccounts Receivable
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Margin recovery to 10%+ operating margin as inventory normalization completes and DTC mix improves
1-3ymed
- Inventory down 610M YoY, further reduction expected
- Gross margin 41.9% has room to expand with less discounting
- SG&A leverage as revenue stabilizes
Operating margin 7.4% TTM vs historical 12-15% rangeInventory/revenue ratio improving from peakGross profit 19.5B provides operating leverage base
Valuation Context
Caveats
Public Strategies Rankings
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NKE Fundamentals
Manufacturing → Leather and Allied Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$63.9B | — | ||
$68.42B | — | ||
28 | — | ||
$46.52B | -2.7% | — | |
$1.52 | -49.5% | — | |
6.03% | -4.3% | — | |
4.84% | -4.6% | — | |
$1.05B | -80.3% | — | |
16.0% | -15.9% | — | |
Beta 5Y (Monthly) | unknown | — |
NKE Dividend History
105 dividends
2026
$0.410003/02/26$0.4100
2025
$1.610012/01/25$0.4100
09/02/25$0.4000
06/02/25$0.4000
03/03/25$0.4000
2024
$1.510012/02/24$0.4000
09/03/24$0.3700
06/03/24$0.3700
03/01/24$0.3700
2023
$1.390012/01/23$0.3700
09/01/23$0.3400
06/02/23$0.3400
03/03/23$0.3400
2022
$1.255012/02/22$0.3400
09/02/22$0.3050
06/03/22$0.3050
03/04/22$0.3050
2021
$1.130012/03/21$0.3050
08/27/21$0.2750
05/28/21$0.2750
02/26/21$0.2750
2020
$1.010012/04/20$0.2750
08/28/20$0.2450
05/29/20$0.2450
02/28/20$0.2450
2019
$0.905011/29/19$0.2450
08/30/19$0.2200
05/31/19$0.2200
03/01/19$0.2200
2018
$0.820011/30/18$0.2200
08/31/18$0.2000
06/01/18$0.2000
03/02/18$0.2000
2017
$0.740012/01/17$0.2000
08/31/17$0.1800
06/01/17$0.1800
03/02/17$0.1800
2016
$0.660012/01/16$0.1800
09/01/16$0.1600
06/02/16$0.1600
03/03/16$0.1600
2015
$0.740012/07/15$0.3200
09/03/15$0.1400
05/28/15$0.1400
02/26/15$0.1400
2014
$0.500012/11/14$0.1400
08/28/14$0.1200
05/29/14$0.1200
02/27/14$0.1200
2013
$0.435012/12/13$0.1200
08/29/13$0.1050
05/30/13$0.1050
02/28/13$0.1050
2012
$0.480012/06/12$0.2100
08/30/12$0.0900
05/31/12$0.0900
03/01/12$0.0900
2011
$0.322512/01/11$0.0900
09/01/11$0.0775
06/02/11$0.0775
03/03/11$0.0775
2010
$0.280012/02/10$0.0775
09/02/10$0.0675
06/03/10$0.0675
03/04/10$0.0675
2009
$0.255012/03/09$0.0675
09/03/09$0.0625
06/04/09$0.0625
03/05/09$0.0625
2008
$0.235012/04/08$0.0625
09/04/08$0.0575
06/05/08$0.0575
03/06/08$0.0575
2007
$0.196312/06/07$0.0575
09/06/07$0.0462
06/07/07$0.0462
03/08/07$0.0463
2006
$0.162512/07/06$0.0463
09/07/06$0.0388
06/08/06$0.0388
03/09/06$0.0388
2005
$0.132512/08/05$0.0388
09/08/05$0.0313
06/09/05$0.0313
03/10/05$0.0313
2004
$0.106312/09/04$0.0313
09/09/04$0.0250
06/10/04$0.0250
03/11/04$0.0250
2003
$0.077512/11/03$0.0250
09/11/03$0.0175
06/11/03$0.0175
03/13/03$0.0175
2002
$0.062512/12/02$0.0175
09/12/02$0.0150
06/12/02$0.0150
03/14/02$0.0150
2001
$0.060012/13/01$0.0150
09/13/01$0.0150
06/13/01$0.0150
03/15/01$0.0150
2000
$0.060012/14/00$0.0150
09/14/00$0.0150
06/14/00$0.0150
03/16/00$0.0150
NKE Stock Splits
3 stock splits
12/24/151:2 split
12/26/120.5:1 split
04/03/070.5:1 split
NKE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/01/26 | 02/28/26 | 10-Q | |
12/30/25 | 11/30/25 | 10-Q | |
10/01/25 | 08/31/25 | 10-Q | |
07/17/25 | 05/31/25 | 10-K | |
04/03/25 | 02/28/25 | 10-Q | |
01/03/25 | 11/30/24 | 10-Q | |
10/07/24 | 08/31/24 | 10-Q | |
07/25/24 | 05/31/24 | 10-K | |
04/04/24 | 02/29/24 | 10-Q | |
01/05/24 | 11/30/23 | 10-Q | |
10/06/23 | 08/31/23 | 10-Q | |
07/20/23 | 05/31/23 | 10-K | |
04/06/23 | 02/28/23 | 10-Q | |
01/05/23 | 11/30/22 | 10-Q | |
10/06/22 | 08/31/22 | 10-Q | |
07/21/22 | 05/31/22 | 10-K | |
04/05/22 | 02/28/22 | 10-Q | |
01/06/22 | 11/30/21 | 10-Q | |
10/05/21 | 08/31/21 | 10-Q | |
07/20/21 | 05/31/21 | 10-K | |
04/02/21 | 02/28/21 | 10-Q | |
01/05/21 | 11/30/20 | 10-Q | |
10/08/20 | 08/31/20 | 10-Q | |
07/24/20 | 05/31/20 | 10-K | |
04/07/20 | 02/29/20 | 10-Q | |
01/07/20 | 11/30/19 | 10-Q | |
10/04/19 | 08/31/19 | 10-Q | |
07/23/19 | 05/31/19 | 10-K | |
04/04/19 | 02/28/19 | 10-Q | |
01/08/19 | 11/30/18 | 10-Q | |
10/05/18 | 08/31/18 | 10-Q | |
07/25/18 | 05/31/18 | 10-K | |
04/05/18 | 02/28/18 | 10-Q | |
01/05/18 | 11/30/17 | 10-Q | |
10/06/17 | 08/31/17 | 10-Q | |
07/20/17 | 05/31/17 | 10-K | |
04/04/17 | 02/28/17 | 10-Q | |
01/05/17 | 11/30/16 | 10-Q | |
10/11/16 | 08/31/16 | 10-Q | |
07/21/16 | 05/31/16 | 10-K | |
04/05/16 | 02/29/16 | 10-Q | |
01/06/16 | 11/30/15 | 10-Q | |
10/06/15 | 08/31/15 | 10-Q | |
07/23/15 | 05/31/15 | 10-K | |
04/07/15 | 02/28/15 | 10-Q | |
01/07/15 | 11/30/14 | 10-Q | |
10/07/14 | 08/31/14 | 10-Q | |
07/25/14 | 05/31/14 | 10-K | |
04/07/14 | 02/28/14 | 10-Q | |
01/07/14 | 11/30/13 | 10-Q | |
10/07/13 | 08/31/13 | 10-Q | |
07/23/13 | 05/31/13 | 10-K | |
04/04/13 | 02/28/13 | 10-Q | |
01/09/13 | 11/30/12 | 10-Q | |
10/09/12 | 08/31/12 | 10-Q | |
07/24/12 | 05/31/12 | 10-K | |
04/06/12 | 02/29/12 | 10-Q | |
01/05/12 | 11/30/11 | 10-Q | |
10/06/11 | 08/31/11 | 10-Q | |
07/22/11 | 05/31/11 | 10-K | |
04/06/12 | 02/28/11 | 10-Q | |
01/06/11 | 11/30/10 | 10-Q | |
10/06/10 | 08/31/10 | 10-Q | |
07/20/10 | 05/31/10 | 10-K | |
04/06/11 | 02/28/10 | 10-Q | |
04/07/10 | 02/28/10 | 10-Q | |
01/06/10 | 11/30/09 | 10-Q | |
10/08/09 | 08/30/09 | 10-Q | |
07/27/09 | 05/31/09 | 10-K | |
04/09/09 | 02/28/09 | 10-Q | |
01/07/09 | 11/30/08 | 10-Q | |
08/31/08 | 08/30/08 | Unknown | -- |
07/28/08 | 05/30/08 | Unknown | -- |
02/29/08 | 02/29/08 | Unknown | -- |
11/30/07 | 11/30/07 | Unknown | -- |
08/31/07 | 08/30/07 | Unknown | -- |
07/27/07 | 05/30/07 | Unknown | -- |
02/28/07 | 02/28/07 | Unknown | -- |
11/30/06 | 11/30/06 | Unknown | -- |
08/31/06 | 08/30/06 | Unknown | -- |
07/28/06 | 05/30/06 | Unknown | -- |
02/28/06 | 02/28/06 | Unknown | -- |
11/30/05 | 11/30/05 | Unknown | -- |
08/31/05 | 08/30/05 | Unknown | -- |
07/29/05 | 05/30/05 | Unknown | -- |
02/28/05 | 02/28/05 | Unknown | -- |
11/30/04 | 11/30/04 | Unknown | -- |
08/31/04 | 08/30/04 | Unknown | -- |
07/30/04 | 05/31/04 | 10-K | |
02/29/04 | 02/29/04 | Unknown | -- |
01/12/04 | 11/30/03 | 10-Q | |
10/10/03 | 08/30/03 | Unknown | -- |
08/07/03 | 05/30/03 | Unknown | -- |
04/14/03 | 02/28/03 | 10-Q | |
01/10/03 | 11/30/02 | 10-Q | |
10/15/02 | 08/30/02 | Unknown | -- |
08/14/02 | 05/30/02 | Unknown | -- |
04/15/02 | 02/28/02 | 4 | |
01/14/02 | 11/30/01 | 10-Q | |
10/15/01 | 08/30/01 | Unknown | -- |
08/09/01 | 05/30/01 | Unknown | -- |
04/16/01 | 02/28/01 | 10-Q | |
01/16/01 | 11/30/00 | 10-Q | |
10/16/00 | 08/30/00 | Unknown | -- |
08/29/00 | 05/30/00 | Unknown | -- |
04/14/00 | 02/29/00 | 10-Q |