Nike

Nike designs and sells athletic footwear, apparel and equipment under the Nike and Jordan brands, and casual shoes under the Converse brand. It sells to retailers through wholesale and directly to consumers through Nike Direct, which includes its own stores and digital sales. Its geographic segments are North America, Europe, Middle East and Africa, Greater China, and Asia Pacific and Latin America.

Revenue was $46.4 billion in fiscal 2026, which ended on May 31, 2026. The company is based near Beaverton, Oregon.

The market prices Nike for a long turnaround with falling sales and low margins. Revenue was flat in fiscal 2026, and the company expects revenue to fall by a high single-digit percentage in fiscal 2027. Revenue in Greater China fell 26% at constant currency in Q1 fiscal 2027, Converse revenue fell 28%, and Nike Brand digital sales fell 13%. The company expects adjusted EPS of only $1.15 to $1.35 in fiscal 2027, against diluted EPS of $2.10 in fiscal 2026.

The company says that more actions for Nike Sportswear and Jordan Brand continue after fiscal 2027. For the gap to close, three things must be true. North America and the performance business must keep growing, as they did in Q1 fiscal 2027. The declines in Greater China, Nike Sportswear and Converse must slow.

The Pace program must deliver its savings of about $2.5 billion through fiscal 2031, so that margins rise again. The Q2 fiscal 2027 report, expected in December 2026, gives the next test. The fiscal 2028 outlook, expected in June 2027, shows if revenue can grow again. This is a turnaround of several years, so the gap can close only slowly.

The main reason it may not close is that competitors keep market share that Nike lost.

1. Dec 17, 2026 · est.Pending

   Q2 fiscal 2027 results: decline and marginsA revenue decline in line with the high single-digit outlook, a smaller fall in Greater China and higher gross margin pass; a lower EPS outlook or faster declines in Greater China and Nike Direct fail.
2. Jun 2027 · est.Pending

   Fiscal 2027 results and fiscal 2028 outlookA fiscal 2028 outlook for revenue growth and higher margins from Pace savings passes; an outlook for another year of lower revenue fails.

Every passed and failed checkpoint across all picks

• October 1, 2026Nike reported Q1 fiscal 2027 results. Revenue fell 4% to $11.2 billion, and diluted EPS was $0.48. Gross margin rose 0.6 points to 42.8%. North America revenue rose 2%, and Greater China revenue fell 22%. Nike announced Pace, a program that changes its operating model. It expects savings of about $2.5 billion through fiscal 2031 and pre-tax charges of about $1.0 billion. For fiscal 2027, Nike expects revenue to fall by a high single-digit percentage and adjusted EPS of $1.15 to $1.35.
• September 15, 2026Nike increased its board to twelve directors and appointed Alexandre Arnault, Deputy Chief Executive Officer of Moët Hennessy, as a director.
• June 30, 2026Nike reported fiscal 2026 results. Revenue was $46.4 billion, flat on a reported basis, and diluted EPS fell 3% to $2.10. Q4 diluted EPS was $0.72, including a benefit of $0.52 per share from the expected recovery of $986 million of IEEPA tariffs. Nike Direct revenue fell 6% in the year, and Converse revenue fell 31%.

Last earnings

October 1, 2026 (8-K on sec.gov)

Next earnings

Expected about December 17, 2026. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Aug 31, 2026Filed October 2, 2026 · nke-20260831
• 8-KEarnings release and Exit or restructuring costsFiled October 1, 2026 · nke-20261001
• 8-KChange of directors or officers and Investor disclosureFiled September 16, 2026 · nke-20260915
• 8-KChange of directors or officers and Shareholder vote resultsFiled September 10, 2026 · nke-20260908
• 8-KChange of directors or officersFiled August 10, 2026 · nke-20260804
• 10-KAnnual report for the period ended May 31, 2026Filed July 15, 2026 · nke-20260531
• 8-KEarnings releaseFiled June 30, 2026 · nke-20260630
• 8-KEarnings release and Change of directors or officersFiled June 23, 2026 · nke-20260616
• 8-KChange of directors or officers and Investor disclosureFiled June 18, 2026 · nke-20260615
• 10-QQuarterly report for the period ended Feb 28, 2026Filed April 1, 2026 · nke-20260228

Every filing on SEC EDGAR (CIK 320187)

• Revenue in Greater China fell 26% at constant currency in Q1 fiscal 2027. The company reports lower store traffic, more discounts and high inventory in that market. Actions in Greater China continue after fiscal 2027.
• Nike Sportswear, Jordan Brand and Converse still decline. Converse revenue fell 28% in Q1 fiscal 2027. If the lifestyle business does not recover, revenue and margins stay low.
• The Pace program costs about $1.0 billion before tax and moves work to a new campus in India and to three geographies. A large change in the organization can disrupt the business or deliver less savings than planned.
• Nike buys most of its products from factories in Asia. Tariffs lowered gross margin in fiscal 2026. New tariffs, or a recovery of IEEPA tariffs below the $986 million that Nike expects, can lower earnings.

Nike has a strong balance sheet. Cash and short-term investments were $8.37 billion at August 31, 2026, and debt was $7.89 billion, so cash was more than debt. Read more

Dividend yield

4.4% (last 12 months, at today’s price of $37.15)

Paid per share

$1.64 in the last 12 months (4 payments)

Current annual rate

$1.64 ($0.41 × 4 a year)

Payout ratio

77% of the last fiscal year’s earnings (the year that ended May 31, 2026)

Latest ex-dividend date

September 1, 2026, $0.41 per share

Dividends per share by year

Over the last 5 years, the dividend grew by about 8.3% a year. Over the last 10 years, the dividend grew by about 9.9% a year.

Source: company filings and market data, read on October 29, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.