Nike, Inc. (NKE) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.12

$0.07$0.16

vs $0.14-16.9%

22 analysts

Next Qtr

$0.45

$0.39$0.51

vs $0.49-8.2%

16 analysts

Current Yr

$1.50

$1.38$1.70

vs $2.16-30.6%

33 analysts

Next Yr

$1.85

$1.51$2.35

vs $1.50+23.5%

32 analysts

Revenue Estimates

Current Qtr

$10.85B

$10.74B$11.02B

vs $11.10B-2.3%

26 analysts

Next Qtr

$11.52B

$11.26B$11.86B

vs $11.72B-1.7%

19 analysts

Current Yr

$46.27B

$46.08B$46.45B

vs $46.31B-0.1%

35 analysts

Next Yr

$46.54B

$44.74B$47.95B

vs $46.27B+0.6%

34 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for NKE on EDGAR.

NKE filing events and research context
Filed	Item	Context
Apr 1, 2026	mda_quarterly	NIKE, Inc. reported flat revenues of $11.3 billion for the third quarter of fiscal 2026, with a 3% decline on a currency-neutral basis. Performance was mixed across segments: North America saw 3% growth, while Greater China and Converse faced significant headwinds, with revenues declining 10% and 37% respectively on a currency-neutral basis. NIKE Direct revenues fell 4% globally, driven by a 9% decline in digital sales and reduced store traffic. Gross margin contracted 130 basis points to 40.2%, primarily due to higher tariffs in North America and increased promotional activity. The company is currently executing a strategic reset, including product innovation, rebalancing footwear supply, and shifting focus back toward wholesale distribution. These initiatives, particularly in Greater China and Converse, are expected to impact profitability through fiscal 2027. Operating expenses rose as the company recognized $230 million in severance costs related to organizational restructuring. Despite these challenges, NIKE maintains a strong liquidity position with $8.1 billion in cash and short-term investments. Management continues to navigate volatility in foreign exchange rates and evolving tariff policies, while monitoring the potential for future recovery of approximately $1.0 billion in previously paid IEEPA tariffs following a recent U.S. Supreme Court ruling.
Dec 30, 2025	mda_quarterly	NIKE, Inc. reported second-quarter fiscal 2026 revenues of $12.4 billion, a 1% increase on a reported basis but flat on a currency-neutral basis. The company faces significant headwinds, most notably a 300-basis-point contraction in gross margin to 40.6%, driven primarily by higher tariffs in North America and increased product costs. Management expects these tariffs to create an annualized gross incremental cost of approximately $1.5 billion, negatively impacting fiscal 2026 profitability. Performance remains bifurcated by region and channel. North America showed resilience with an 8% increase in wholesale revenues, though this was offset by a 9% decline in NIKE Direct revenues, reflecting a 14% drop in NIKE Brand Digital sales due to reduced traffic. Greater China and Converse are underperforming, with revenues declining 17% and 30% respectively, as both face elevated inventory levels and promotional activity. The company is currently executing a strategic reset, including rebalancing its footwear portfolio, shifting toward full-price digital sales, and reinvesting in wholesale distribution. While North America is furthest along in these initiatives, management anticipates continued pressure from Greater China and Converse throughout the fiscal year. Liquidity remains stable, with $8.3 billion in cash and short-term investments, despite a decrease in operating cash flow.
Oct 1, 2025	mda_quarterly	NIKE, Inc. reported first-quarter fiscal 2026 revenues of $11.7 billion, a 1% increase on a reported basis but a 1% decline on a currency-neutral basis. Net income fell 31% to $727 million, with diluted earnings per share dropping to $0.49. Gross margin contracted 320 basis points to 42.2%, driven by higher wholesale and factory store discounts, unfavorable channel mix, and increased product costs from new tariffs. The company expects these tariffs to result in $1.5 billion of annualized gross incremental costs. Operational performance varied by segment. Greater China and Converse faced significant headwinds, with currency-neutral revenues declining 10% and 28%, respectively. North America remained a bright spot, with revenues up 4% on a currency-neutral basis, bolstered by wholesale growth. NIKE Direct revenues declined 5% currency-neutral, primarily due to a 12% drop in NIKE Brand Digital sales. Management is currently executing a strategic pivot focused on reducing the supply of certain footwear to rebalance the portfolio, repositioning NIKE Brand Digital as a full-price platform, and reinvesting in wholesale distribution. While these actions have negatively impacted short-term profitability, the company maintains a strong liquidity position with $8.6 billion in cash and short-term investments.

Filed

Item

Context

Apr 1, 2026

mda_quarterly

NIKE, Inc. reported flat revenues of $11.3 billion for the third quarter of fiscal 2026, with a 3% decline on a currency-neutral basis. Performance was mixed across segments: North America saw 3% growth, while Greater China and Converse faced significant headwinds, with revenues declining 10% and 37% respectively on a currency-neutral basis. NIKE Direct revenues fell 4% globally, driven by a 9% decline in digital sales and reduced store traffic. Gross margin contracted 130 basis points to 40.2%, primarily due to higher tariffs in North America and increased promotional activity. The company is currently executing a strategic reset, including product innovation, rebalancing footwear supply, and shifting focus back toward wholesale distribution. These initiatives, particularly in Greater China and Converse, are expected to impact profitability through fiscal 2027. Operating expenses rose as the company recognized $230 million in severance costs related to organizational restructuring. Despite these challenges, NIKE maintains a strong liquidity position with $8.1 billion in cash and short-term investments. Management continues to navigate volatility in foreign exchange rates and evolving tariff policies, while monitoring the potential for future recovery of approximately $1.0 billion in previously paid IEEPA tariffs following a recent U.S. Supreme Court ruling.

Dec 30, 2025

mda_quarterly

NIKE, Inc. reported second-quarter fiscal 2026 revenues of $12.4 billion, a 1% increase on a reported basis but flat on a currency-neutral basis. The company faces significant headwinds, most notably a 300-basis-point contraction in gross margin to 40.6%, driven primarily by higher tariffs in North America and increased product costs. Management expects these tariffs to create an annualized gross incremental cost of approximately $1.5 billion, negatively impacting fiscal 2026 profitability. Performance remains bifurcated by region and channel. North America showed resilience with an 8% increase in wholesale revenues, though this was offset by a 9% decline in NIKE Direct revenues, reflecting a 14% drop in NIKE Brand Digital sales due to reduced traffic. Greater China and Converse are underperforming, with revenues declining 17% and 30% respectively, as both face elevated inventory levels and promotional activity. The company is currently executing a strategic reset, including rebalancing its footwear portfolio, shifting toward full-price digital sales, and reinvesting in wholesale distribution. While North America is furthest along in these initiatives, management anticipates continued pressure from Greater China and Converse throughout the fiscal year. Liquidity remains stable, with $8.3 billion in cash and short-term investments, despite a decrease in operating cash flow.

Oct 1, 2025

mda_quarterly

NIKE, Inc. reported first-quarter fiscal 2026 revenues of $11.7 billion, a 1% increase on a reported basis but a 1% decline on a currency-neutral basis. Net income fell 31% to $727 million, with diluted earnings per share dropping to $0.49. Gross margin contracted 320 basis points to 42.2%, driven by higher wholesale and factory store discounts, unfavorable channel mix, and increased product costs from new tariffs. The company expects these tariffs to result in $1.5 billion of annualized gross incremental costs. Operational performance varied by segment. Greater China and Converse faced significant headwinds, with currency-neutral revenues declining 10% and 28%, respectively. North America remained a bright spot, with revenues up 4% on a currency-neutral basis, bolstered by wholesale growth. NIKE Direct revenues declined 5% currency-neutral, primarily due to a 12% drop in NIKE Brand Digital sales. Management is currently executing a strategic pivot focused on reducing the supply of certain footwear to rebalance the portfolio, repositioning NIKE Brand Digital as a full-price platform, and reinvesting in wholesale distribution. While these actions have negatively impacted short-term profitability, the company maintains a strong liquidity position with $8.6 billion in cash and short-term investments.

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NKE filing events and research context

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