Reading the tape
NYSE: NKE
NIKE, Inc.
Consumer Cyclical · Apparel - Footwear & Accessories
Market Cap
$63.70B
52w High
$80.17
52w Low
$42.09
P/E
28.32
Volume
32.97M
Outstanding Shares
1.48B
Price vs Fundamentals
Why The Stock Is Moving
Likely fundamental deteriorationHigh confidence
1Y Price: -24.86%Revenue (TTM): -2.71%FCF (TTM): -80.27%P/FCF: 90th pct
What changed
The stock fell 24.86% over the last year. Revenue declined 2.71% over the trailing twelve months. Operating margin moved from 10.3% to 6.03%. Free cash flow declined 80.27% over the trailing twelve months.
What the market seems to be pricing
The market is reacting to weaker business momentum more than just compressing the valuation multiple. Even if the shares already screen cheap on P/FCF, investors are still discounting lower future earnings power.
What would invalidate this read
Operating margin stands at 6.03%. Revenue declined 2.71% — this read reverses if that trend stabilizes. Free cash flow fell 80.27% — a return toward positive territory would undermine the deterioration thesis. If margins and cash flow stabilize while the stock stays depressed, the gap shifts from fundamental damage toward pure multiple compression.
Company profile
NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories worldwide.
CEOElliott J. Hill
SectorConsumer Cyclical
IndustryApparel - Footwear & Accessories
Employees79,400
IPO dateDec 2, 1980
Valuation
Forward P/E—
EV/EBITDA20.74
Enterprise value$93.52B
Stock splits
Dec 24, 2015↑ Forward
Every 1 shares became 2
Dec 26, 2012↑ Forward
Every 1 shares became 2
Apr 3, 2007↑ Forward
Every 1 shares became 2
Oct 24, 1996↑ Forward
Every 1 shares became 2
Oct 31, 1995↑ Forward
Every 1 shares became 2
Oct 9, 1990↑ Forward
Every 1 shares became 2
Jan 6, 1983↑ Forward
Every 1 shares became 2
Profitability & growth
Revenue growth0.09%
Gross margin40.81%▼4.10%vs FY2024
Operating margin6.03%▼34.94%vs FY2024
ROE24.36%▼38.32%vs FY2024
Analyst consensus
RatingBuy
Target price$69.88▲62.17%
39
Buy
27
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jun 25, 2026
Q2 FY26 · EPS est $0.14 · Revenue est $10.84B
View
Dividends
$1.62/shareQuarterlyDividend Aristocrat · 34yrAdequateNKE pays a dividend with a 3.76% dividend yield, 34 consecutive years of growth, growing at 9.27% annually, covered 1.4× by free cash flow.
Dividend Yield
3.76%
Annual Div / Share
$1.62
5yr CAGR
+9.27%
Doubles every ~7.8yr
Payout Ratio
106.18%
Adequate
Dividend Growth Rate
3yr CAGR
+7.89%
5yr CAGR
+9.27%
10yr CAGR
+10.44%
Dividend Safety
3/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$1.62+5.2%
2024$1.54+8.5%
2023$1.42+10.1%
2022$1.29+11.2%
2021$1.16+11.5%
2020$1.04+11.8%
2019$0.93+10.7%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$38/yr
$3/mo
In 5 yrs
$59/yr+56%
$5/mo
In 10 yrs
$91/yr+143%
$8/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$38/yr $3/mo | $59/yr+56% $5/mo | $91/yr+143% $8/mo |
Yield-on-cost grows from 3.76% → 9.12% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
NKE has raised its dividend for 34 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 9.27% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 106.18% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.