Company file · NKE

Nike

Nike's revenue rose 0.2% in FY2026, to $46.4B, and net income fell 3.4% to $3.1B

Revenue rose 0.2% to $46.4B in FY2026, from $46.3B in FY2025. Net income fell 3.4% to $3.1B. N I K E Brand was the largest segment, at 97% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Jul 15, 2026) · Latest quarter: 10-Q for the quarter ended Aug 31, 2026 (filed Oct 2, 2026) · Data pulled Nov 11, 2026

Key facts

Nike (NYSE: NKE) reported revenue of $46.4B for fiscal 2026, the year ended May 31, 2026, up 0.2% from fiscal 2025. Net income was $3.1B, down 3.4%. In its latest 10-Q, for the quarter ended Aug 31, 2026, revenue was $11.2B, down 4.3% from the same quarter a year earlier, and net income was $712M. The largest piece by segment was N I K E Brand, at 97% of fiscal 2026 revenue. Sources: 10-K for fiscal 2026 (filed Jul 15, 2026) and 10-Q for the quarter ended Aug 31, 2026 (filed Oct 2, 2026).

Revenue$46.4BFY2026 · +0.2% vs FY2025

Net income$3.1BFY2026 · −3.4% vs FY2025

Operating cash flow$2.9BFY2026 · −22.4% vs FY2025

Cash & equivalents$6.9Bat Aug 31, 2026 · −8.7% vs FY2026 end

Total debt$7.9Bat Aug 31, 2026 · −0.6% vs FY2026 end

Diluted shares1.48BFY2026 avg · −0.4% vs FY2025

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2026, filed Jul 15, 2026

Quarterly revenue: fiscal 2027 vs a year earlierFiscal Q1, $bn (each quarter from that quarter's 10-Q)

FY2026FY2027

Source: 10-Q filed Oct 2, 2026

How it makes money

By segment, FY2026

LineAmountSharevs FY2025
N I K E Brand$45.2B97%+1.1%
Converse$1.2B3%−30.6%

Source: 10-K FY2026, XBRL breakdown

By segment in FY2026: N I K E Brand (97%) and Converse (3%), as shares of total revenue. Total revenue was $46.4B.

By segment: three-year mixShare of the total each fiscal year

FY2024

96%

FY2025

96%

FY2026

97%

N I K E BrandConverse

Source: 10-K FY2026

By product or service, FY2026

Footwear$30.5B66%−1.4%

Apparel$13.5B29%+3.5%

Sporting Equipment$2.2B5%−0.1%

Product and Service, Other$143M0%+93.2%

Share is of the FY2026 total; the last column is the change from FY2025.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q1 FY2027 (Jun to Aug 2026) compared with Q1 FY2026 (Jun to Aug 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q1 FY2027Q1 FY2026

Company

Revenue

$11.2B Q1 FY2027

$11.7B Q1 FY2026

4.3% decrease

Net income

$712M Q1 FY2027

$727M Q1 FY2026

2.1% decrease

Source: Nike 10-Q for the quarter ended Aug 31, 2026, filed Oct 2, 2026

By segment

N I K E Brand

$11.0B Q1 FY2027

$11.4B Q1 FY2026

3.6% decrease

Converse

$263M Q1 FY2027

$366M Q1 FY2026

28.1% decrease

Source: Nike 10-Q for the quarter ended Aug 31, 2026, filed Oct 2, 2026

Cash & equivalents $6.9B at Aug 31, 2026, vs $7.6B at FY2026 end.
Total debt $7.9B at Aug 31, 2026, vs $7.9B at FY2026 end.
Operating cash flow, first 3 months of fiscal 2027: $135M vs $222M a year earlier.

The bull case and the bear case

The bull case

Revenue rose 0.2% in FY2026 to $46.4B, from $46.3B a year earlier. 10-K, FY2026
N I K E Brand revenue grew 1.1% in FY2026 to $45.2B. 10-K, FY2026

The bear case

Net income fell 3.4% in FY2026 to $3.1B, from $3.2B. 10-K, FY2026
Operating cash flow fell 22.4% in FY2026 to $2.9B. 10-K, FY2026
Revenue in the quarter ended Aug 31, 2026 was $11.2B, down 4.3% on a year earlier. 10-Q, quarter ended Aug 31, 2026
Net income in the quarter ended Aug 31, 2026 was $712M, down 2.1% on a year earlier. 10-Q, quarter ended Aug 31, 2026

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Nike is in the apparel, accessories & luxury goods industry, part of the consumer discretionary sector. The SEC files it under Rubber & Plastics Footwear.

Nike reports 2 segments: N I K E Brand and Converse.

Its fiscal year ends in May; the latest, FY2026, ended May 31, 2026.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the apparel, accessories & luxury goods industry. They are not a summary of Nike’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

Consumer spendingShoppers cut back on non-essentials when budgets are tight.
CompetitionRivals, online sellers and changing tastes pressure prices and traffic.
CostsWages, freight and product costs can squeeze margins.
Supply chain and tariffsImported goods make it sensitive to trade policy and shipping disruptions.
Brand and reputationProduct problems or public criticism can hurt demand.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2024	FY2025	FY2026
Revenue	$51.4B	$46.3B	$46.4B
Net income	$5.7B	$3.2B	$3.1B
Operating cash flow	$7.4B	$3.7B	$2.9B
Cash & equivalents (year end)	$9.9B	$7.5B	$7.6B
Total debt (year end)	$8.9B	$8.0B	$7.9B
Diluted shares	1.53B	1.49B	1.48B

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: The current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Nike names its fiscal year by the calendar year in which it ends, so FY2026 is the year that ended May 31, 2026.

Recent filings

Form	Filed	Period
10-Q	Oct 2, 2026	Aug 31, 2026
DEF 14A	Jul 15, 2026	May 31, 2026
10-K	Jul 15, 2026	May 31, 2026

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Nike

How does Nike make money?

Nike's revenue was $46.4B in fiscal 2026. By segment in FY2026: N I K E Brand (97%) and Converse (3%), as shares of total revenue. Total revenue was $46.4B. Source: 10-K for fiscal 2026, filed Jul 15, 2026.

What was Nike's revenue in fiscal 2026?

$46.4B of revenue for the fiscal year ended May 31, 2026, up 0.2% from $46.3B in fiscal 2025. Fiscal 2024 was $51.4B. Source: 10-K for fiscal 2026, filed Jul 15, 2026.

Is Nike profitable?

Nike reported net income of $3.1B for fiscal 2026, down 3.4% from $3.2B in fiscal 2025. That is a profit under US accounting rules (GAAP). In the quarter ended Aug 31, 2026, net income was $712M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Jul 15, 2026.

What did Nike report in its latest quarterly filing?

Revenue was $11.2B in the quarter ended Aug 31, 2026, down 4.3% from $11.7B a year earlier. Net income was $712M, down 2.1% from $727M. Source: 10-Q for the quarter ended Aug 31, 2026, filed Oct 2, 2026.

How much cash and debt does Nike have?

Nike had $6.9B in cash and cash equivalents and $7.9B of total debt on Aug 31, 2026. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Oct 2, 2026.

What are the main risks Nike faces?

Nike's own risk factors are in Item 1A of its 10-K for fiscal 2026, filed Jul 15, 2026. Risks that are common among companies in the apparel, accessories & luxury goods industry include Consumer spending; competition; costs; supply chain and tariffs; brand and reputation. The first: Shoppers cut back on non-essentials when budgets are tight. Source: 10-K, Item 1A Risk Factors.

Where do these Nike numbers come from?

From Nike's own SEC filings: the 10-K for fiscal 2026 (filed Jul 15, 2026) and the 10-Q for the quarter ended Aug 31, 2026 (filed Oct 2, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Nike

Renaissance Technologies: 4,070,200 shares, reported value $167.1M at Jun 30, 2026 (+1,191.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
Millennium Management: 3,280,457 shares, reported value $134.7M at Jun 30, 2026 (+292.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 1,490,584 shares, reported value $61.2M at Jun 30, 2026 (−75.2% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Markel Group: 447,400 shares, reported value $15.8M at Sep 30, 2026 (same number of shares as in the filing for Jun 30, 2026). Form 13F filed Oct 30, 2026.
Two Sigma Investments: 313,740 shares, reported value $12.9M at Jun 30, 2026 (+159.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Lindsell Train: 21,000 shares, reported value $0.7M at Sep 30, 2026 (same number of shares as in the filing for Jun 30, 2026). Form 13F filed Nov 2, 2026.
Baillie Gifford: 1,068 shares, reported value $0.0M at Sep 30, 2026 (+37.3% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in NKE: The editor holds no position in Nike (NKE). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell NKE from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 4, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold NKE, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
NikeNKE	FY2026	$46.4B	+0.2%	$3.1B
Ralph LaurenRL	FY2026	$8.1B	+14.6%	$941M
TapestryTPR	FY2026	$8.0B	+14.2%	$1.5B
Lululemon AthleticaLULU	FY2025	$11.1B	+4.9%	$1.6B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.