What's priced into Nike, Inc. (NKE) stock?

Valuation is neutral, with a premium compared to peers. The market seems to expect some level of improvement, but there is an expectations gap, indicating that some positive developments may not be fully priced in.

What does the Nike, Inc. (NKE) outlook hinge on?

The thesis hinges on several factors, including management's ability to execute on their strategic priorities and external conditions such as inflation and sector performance. Positive earnings from sector peers could provide a boost, while any guidance cuts or inflation increases could negatively impact sentiment.

Nike, Inc. (NKE) Outlook: What's Priced In

What could strengthen or challenge Nike, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-30.2% · beyond scale

+10% or more+5%0%−5%−10% or less

2.15 → 1.50 EPS · FY ending May 31, 2028 · 30 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 26 to 30; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Twelve-year operating bridge · estimated, unvalidated forecasts
Operating measure	Path	FY2027	FY2028	FY2029
RevenueUSD B	Projected	44.54	46.77	49.11
Revenue growth	Projected	-4.0%	5.0%	5.0%
Operating marginExecution focus	Projected	4.0%	8.0%	8.0%
Common earningsUSD B	Projected	1.79	2.89	3.03
EPSUSD/share	Projected	1.21	1.95	2.04
Net reinvestmentUSD B	Projected	1.72	0.87	0.91
Gross cash capexUSD B	Projected	0.68	0.66	0.66
Depreciation / amort.USD B	Projected	0.75	0.73	0.73
Working capital addedUSD B	Projected	1.78	0.94	0.98
Common bookUSD B	Projected	16.58	17.45	18.36
Operating capitalUSD B	Projected	18.59	19.46	20.37
ROIC	Projected	10.7%	15.5%	15.6%
Common excess earningsUSD B	Projected	0.39	1.32	1.38
SharesB	Projected	1.48	1.48	1.48
Share change	Projected	0.0%	0.0%	0.0%
Net common cashUSD B	Projected	0.07	2.02	2.11
Common-cash requirementUSD B	Projected	0.00	0.00	0.00
Forecast stage	explicit	explicit	explicit

Operating measure

Path

FY2027

FY2028

FY2029

RevenueUSD B

Projected

44.54

46.77

49.11

Revenue growth

Projected

-4.0%

5.0%

Operating marginExecution focus

Projected

4.0%

8.0%

Common earningsUSD B

Projected

1.79

2.89

3.03

EPSUSD/share

Projected

1.21

1.95

2.04

Net reinvestmentUSD B

Projected

1.72

0.87

0.91

Gross cash capexUSD B

Projected

0.68

0.66

Depreciation / amort.USD B

Projected

0.75

0.73

Working capital addedUSD B

Projected

1.78

0.94

0.98

Common bookUSD B

Projected

16.58

17.45

18.36

Operating capitalUSD B

Projected

18.59

19.46

20.37

ROIC

Projected

10.7%

15.5%

15.6%

Common excess earningsUSD B

Projected

0.39

1.32

1.38

SharesB

Projected

1.48

Share change

Projected

0.0%

Net common cashUSD B

Projected

0.07

2.02

2.11

Common-cash requirementUSD B

Projected

0.00

Forecast stage

explicit

Compare the operating change with the company work identified in the published report. A named initiative is not proof that the price is achievable, and its value is not added on top of Living FV.

Calculate a target path to quantify the gap. Published projections and initiative links are shown now; a required path has not been calculated.

2026-05-31 to 2027-05-31 · consolidated model path · estimated, unvalidated forecasts. Accounting comparability with reported results is not established.

Revenue and growth

Revenue: Projected: $44,542,080,000.00
Scenario: Not calculated
Revenue growth: Projected: -4.0%
Scenario: Not calculated

Company initiatives in this report

12 source-declared links to this operating channel

Brand Management
Included in consolidated path · unknown
Condition, timing and source
Investment in demand creation and brand marketing is expected to support key product launches and sports moments, contributing to revenue growth and margin improvement.
Model setting: Brand management investments are embedded in the consolidated SG&A and demand creation expense lines. The path assumes these investments support revenue stabilization and margin expansion over time, as indicated by the guidance for gross margin expansion and SG&A discipline.
Affected fields: operating_margin, revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I08674ac801d7107a.
Source references: 801871 / ded891f5-c527-5a2e-a5cc-697adb3b9174.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
Product Management
Included in consolidated path · unknown
Condition, timing and source
Accelerating product innovation and reducing supply of certain footwear products to rebalance the mix of the footwear portfolio.
Model setting: Product management initiatives, including reducing supply of certain footwear products, are expected to rebalance the portfolio mix. This may impact revenue growth and working capital investment as inventory levels are adjusted.
Affected fields: revenue_growth, working_capital_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I229381ae845dcef0.
Source references: 801871 / ded891f5-c527-5a2e-a5cc-697adb3b9174.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
expanded distribution
Included in consolidated path · progress reported
Condition, timing and source
Distribution expansion is ongoing and contributing to revenue growth.
Model setting: Expanded distribution in North America contributed to 14% wholesale revenue increase in current year; assumed to continue supporting growth in FY28-FY29.
Affected fields: revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: Ie85fedd77b7a2dff.
Source references: 801871 / bf924b1f-2ff6-58e8-92d9-16ba4ed67343.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

Thesis drivers and incoming evidence (0)

No explicit thematic driver mapping is available.

Operating profitability

Operating margin: Projected: 4.0%
Scenario: Not calculated

Company initiatives in this report

12 source-declared links to this operating channel

Win Now actions
Included in consolidated path · unknown
Condition, timing and source
Win Now actions are on track to sunset by the end of this calendar year.
Model setting: Sunset of 'Win Now' actions by end of calendar year (E2f7a4be2c7446ab9) improves operating margins in FY28.
Affected fields: operating_margin. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-09-16 09:04:33+00:00. Initiative ID: I4c0cd237fde45628.
Source references: 955243 / 8f34c02d-5cb3-5837-ab00-dc760b1bd883.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
Brand Management
Included in consolidated path · unknown
Condition, timing and source
Investment in demand creation and brand marketing is expected to support key product launches and sports moments, contributing to revenue growth and margin improvement.
Model setting: Brand management investments are embedded in the consolidated SG&A and demand creation expense lines. The path assumes these investments support revenue stabilization and margin expansion over time, as indicated by the guidance for gross margin expansion and SG&A discipline.
Affected fields: operating_margin, revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I08674ac801d7107a.
Source references: 801871 / ded891f5-c527-5a2e-a5cc-697adb3b9174.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
brand and marketplace reset
Included in consolidated path · unknown
Condition, timing and source
The initiative is active as long as the associated costs are being incurred and the benefits are not yet fully realized in the operating margin.
Model setting: Costs associated with the brand and marketplace reset, including inventory obsolescence and severance, are embedded in the operating margin and working capital investment ratios for the initial phases. The initiative is considered active as these costs are being realized in FY26 and will drive margin benefits in FY27.
Affected fields: operating_margin, working_capital_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I127d0427c6c62848.
Source references: 801871 / e6db8e7b-f4aa-5433-a3f3-786f82ff8800; 801871 / 460be114-955a-504d-804b-27cc90179429.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

Thesis drivers and incoming evidence (0)

No explicit thematic driver mapping is available.

Capital and cash timing

Net reinvestment: Projected: $1,718,683,200.00
Scenario: Not calculated
Net PPE investment: Projected: -$63,000,000.00
Scenario: Not calculated
Working capital added: Projected: $1,781,683,200.00
Scenario: Not calculated
Common-cash requirement: Projected: $0.00
Scenario: Not calculated

Investment and funding are different. A modeled cash requirement needs a funding source, cost and ownership effect; cash-reserve policies are not interchangeable with financing.

Company initiatives in this report

8 source-declared links to this operating channel

brand and marketplace reset
Included in consolidated path · unknown
Condition, timing and source
The initiative is active as long as the associated costs are being incurred and the benefits are not yet fully realized in the operating margin.
Model setting: Costs associated with the brand and marketplace reset, including inventory obsolescence and severance, are embedded in the operating margin and working capital investment ratios for the initial phases. The initiative is considered active as these costs are being realized in FY26 and will drive margin benefits in FY27.
Affected fields: operating_margin, working_capital_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I127d0427c6c62848.
Source references: 801871 / e6db8e7b-f4aa-5433-a3f3-786f82ff8800; 801871 / 460be114-955a-504d-804b-27cc90179429.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
Product Management
Included in consolidated path · unknown
Condition, timing and source
Accelerating product innovation and reducing supply of certain footwear products to rebalance the mix of the footwear portfolio.
Model setting: Product management initiatives, including reducing supply of certain footwear products, are expected to rebalance the portfolio mix. This may impact revenue growth and working capital investment as inventory levels are adjusted.
Affected fields: revenue_growth, working_capital_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: I229381ae845dcef0.
Source references: 801871 / ded891f5-c527-5a2e-a5cc-697adb3b9174.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.
364-day committed credit facility
Included in consolidated path · unknown
Condition, timing and source
Provides for up to $1 billion of borrowings, with an option to increase up to $1.5 billion with lender approval.
Model setting: The 364-day committed credit facility provides liquidity flexibility. This is assumed to support cash reserves and working capital management, particularly during periods of revenue decline or inventory adjustment.
Affected fields: cash_reserve_per_added_revenue. This is a published model binding, not measured delivery or an incremental price contribution.
Source date: 2026-07-15 20:43:49+00:00. Initiative ID: Ib8485237ca19ad75.
Source references: 801871 / 7cc630d1-2e9b-5fdb-a530-60a028e3048a.
Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

Thesis drivers and incoming evidence (0)

No explicit thematic driver mapping is available.

4 published drivers remain unmapped to operating channels. Their original evidence remains in the thesis table.

Timing matters: changing a selected year does not shift an initiative's disclosed delivery date or establish that it can meet the requirement. Forecast outcomes are unknown; no numerical completion percentage is inferred.

21 unique initiative records shown from 76; 55 others, including unquantified or unsupported fields, remain in the full report. Selection prioritizes declared consolidated bindings, then source date, with up to 12 per channel. Inspect all source bindings.

Estimate revisions, ratings and analyst targets in Incoming Evidence describe expectations, not delivered outcomes. No initiative dollar attribution is claimed without an engine counterfactual.

Equity return	Living FV at report date
8.4%	$44.90
9.4%	$37.25
10.4%	$31.68

Equity return

Living FV at report date

8.4%

$44.90

9.4%

$37.25

10.4%

$31.68

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Selling and administrative expenses near $16.1 billion	Nike keeps its costs flat near $16.1 billion while investing to grow.	Intact	expenses rise above $16.1 billion in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated in 6 of last 6 quarters. Management has focused on cost realignment and investing in marketing to support growth. Gross margin improved slightly from 42.2% in 2026-Q1 to 42.8% in 2026-Q3. Selling and administrative expenses decreased modestly. The trajectory shows disciplined cost management with ongoing investment, consistent with management's statements.

Key Factor

Why It Matters

Current Status

Break Condition

Latest Evidence

Selling and administrative expenses near $16.1 billion

Nike keeps its costs flat near $16.1 billion while investing to grow.

Intact

expenses rise above $16.1 billion in FY26

Direct metric needs a verified mapping

The published measure or accounting basis is not supported by an exact source binding.

Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes

Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Management context

Stated in 6 of last 6 quarters. Management has focused on cost realignment and investing in marketing to support growth. Gross margin improved slightly from 42.2% in 2026-Q1 to 42.8% in 2026-Q3. Selling and administrative expenses decreased modestly. The trajectory shows disciplined cost management with ongoing investment, consistent with management's statements.

FY2028 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$2.19	$47,418,745,103	25 / 28
2026-07-25	$2.19	$47,418,745,103	25 / 28
2026-07-26	$2.19	$47,390,577,488	25 / 27
2026-07-27	$2.25	$47,587,363,090	31 / 36
2026-07-28	$2.19	$47,390,577,488	25 / 27
2026-07-29	$2.25	$47,566,057,530	31 / 36
2026-07-30	$2.19	$47,390,577,488	25 / 27
2026-07-31	$2.24	$47,557,779,750	31 / 36
2026-08-01	$2.19	$47,390,577,488	25 / 27
2026-08-02	$2.24	$47,557,779,750	31 / 36
2026-08-03	$2.24	$47,523,168,640	31 / 36
2026-08-04	$2.18	$47,381,809,129	25 / 27
2026-08-05	$2.18	$47,381,809,129	25 / 27
2026-08-06	$2.18	$47,381,809,129	25 / 27
2026-08-07	$2.18	$47,381,809,129	25 / 27
2026-08-08	$2.18	$47,381,809,129	25 / 27
2026-08-09	$2.23	$47,485,434,810	31 / 36
2026-08-10	$2.18	$47,381,809,129	25 / 27
2026-08-12	$2.23	$47,485,434,810	31 / 36
2026-08-13	$2.23	$47,485,434,810	31 / 36
2026-08-14	$2.18	$47,381,809,129	25 / 27
2026-08-15	$2.18	$47,381,809,129	25 / 27
2026-08-16	$2.18	$47,381,809,129	25 / 27
2026-08-17	$2.18	$47,381,809,129	25 / 27
2026-08-18	$2.18	$47,381,809,129	25 / 27
2026-08-19	$2.18	$47,381,809,129	25 / 27
2026-08-20	$2.18	$47,323,711,800	25 / 27
2026-08-21	$2.18	$47,323,711,800	25 / 27
2026-08-22	$2.18	$47,323,770,624	25 / 27
2026-08-23	$2.18	$47,323,770,624	25 / 27
2026-08-24	$2.18	$47,323,770,624	25 / 27
2026-08-25	$2.18	$47,323,770,624	25 / 27
2026-08-26	$2.18	$47,323,764,385	25 / 27
2026-08-27	$2.18	$47,323,764,385	25 / 27
2026-08-28	$2.18	$47,323,764,385	25 / 27
2026-08-29	$2.18	$47,314,676,150	25 / 27
2026-08-30	$2.18	$47,314,676,150	25 / 27
2026-08-31	$2.18	$47,314,676,150	25 / 27
2026-09-01	$2.18	$47,314,676,150	25 / 27
2026-09-02	$2.18	$47,314,676,150	25 / 27
2026-09-03	$2.18	$47,314,676,150	25 / 27
2026-09-04	$2.18	$47,314,676,150	25 / 27
2026-09-05	$2.18	$47,314,676,150	25 / 27
2026-09-06	$2.18	$47,314,676,150	25 / 27
2026-09-07	$2.18	$47,314,676,150	25 / 27
2026-09-08	$2.18	$47,314,676,150	25 / 27
2026-09-09	$2.18	$47,314,676,150	25 / 27
2026-09-10	$2.17	$47,249,771,117	25 / 28
2026-09-11	$2.17	$47,249,771,117	25 / 28
2026-09-12	$2.16	$47,198,864,850	26 / 29
2026-09-13	$2.16	$47,198,864,850	26 / 29
2026-09-14	$2.16	$47,198,864,850	26 / 29
2026-09-15	$2.15	$47,169,666,608	26 / 29
2026-09-16	$2.15	$47,140,230,497	26 / 29
2026-09-17	$2.15	$47,140,230,497	26 / 29
2026-09-18	$2.14	$47,096,388,065	26 / 29
2026-09-19	$2.14	$47,096,388,065	26 / 29
2026-09-20	$2.14	$47,096,388,065	26 / 29
2026-09-21	$2.14	$47,096,388,065	26 / 29
2026-09-22	$2.13	$47,096,393,620	26 / 29
2026-09-23	$2.13	$47,096,393,620	26 / 29
2026-09-24	$2.13	$47,086,707,306	26 / 29
2026-09-25	$2.13	$47,060,626,225	26 / 30
2026-09-26	$2.12	$47,015,025,117	28 / 30
2026-09-27	$2.11	$46,976,933,287	28 / 30
2026-09-28	$2.11	$46,976,933,287	28 / 30
2026-09-29	$2.08	$46,823,252,665	28 / 30
2026-09-30	$2.07	$46,816,604,016	28 / 30
2026-10-01	$2.07	$46,816,604,016	28 / 30
2026-10-02	$1.98	$46,400,962,572	28 / 30
2026-10-03	$1.67	$44,388,944,678	30 / 30
2026-10-04	$1.61	$44,063,783,808	30 / 30
2026-10-05	$1.60	$44,024,314,363	30 / 30
2026-10-06	$1.60	$44,024,314,363	30 / 30
2026-10-07	$1.56	$43,617,307,030	30 / 30
2026-10-08	$1.54	$43,501,779,252	30 / 30
2026-10-09	$1.52	$43,418,445,919	30 / 30
2026-10-10	$1.52	$43,297,298,659	30 / 30
2026-10-11	$1.51	$43,108,390,376	30 / 30
2026-10-12	$1.51	$43,108,390,376	30 / 30
2026-10-13	$1.51	$43,108,390,376	30 / 30
2026-10-14	$1.51	$43,108,390,376	30 / 30
2026-10-15	$1.50	$43,021,026,848	30 / 30

FY2028 estimate observations · fmp

Snapshot

EPS

Revenue

EPS / revenue analysts

2026-07-24

$2.19

$47,418,745,103

25 / 28

2026-07-25

$2.19

$47,418,745,103

25 / 28

2026-07-26

$2.19

$47,390,577,488

25 / 27

2026-07-27

$2.25

$47,587,363,090

31 / 36

2026-07-28

$2.19

$47,390,577,488

25 / 27

2026-07-29

$2.25

$47,566,057,530

31 / 36

2026-07-30

$2.19

$47,390,577,488

25 / 27

2026-07-31

$2.24

$47,557,779,750

31 / 36

2026-08-01

$2.19

$47,390,577,488

25 / 27

2026-08-02

$2.24

$47,557,779,750

31 / 36

2026-08-03

$2.24

$47,523,168,640

31 / 36

2026-08-04

$2.18

$47,381,809,129

25 / 27

2026-08-05

$2.18

$47,381,809,129

25 / 27

2026-08-06

$2.18

$47,381,809,129

25 / 27

2026-08-07

$2.18

$47,381,809,129

25 / 27

2026-08-08

$2.18

$47,381,809,129

25 / 27

2026-08-09

$2.23

$47,485,434,810

31 / 36

2026-08-10

$2.18

$47,381,809,129

25 / 27

2026-08-12

$2.23

$47,485,434,810

31 / 36

2026-08-13

$2.23

$47,485,434,810

31 / 36

2026-08-14

$2.18

$47,381,809,129

25 / 27

2026-08-15

$2.18

$47,381,809,129

25 / 27

2026-08-16

$2.18

$47,381,809,129

25 / 27

2026-08-17

$2.18

$47,381,809,129

25 / 27

2026-08-18

$2.18

$47,381,809,129

25 / 27

2026-08-19

$2.18

$47,381,809,129

25 / 27

2026-08-20

$2.18

$47,323,711,800

25 / 27

2026-08-21

$2.18

$47,323,711,800

25 / 27

2026-08-22

$2.18

$47,323,770,624

25 / 27

2026-08-23

$2.18

$47,323,770,624

25 / 27

2026-08-24

$2.18

$47,323,770,624

25 / 27

2026-08-25

$2.18

$47,323,770,624

25 / 27

2026-08-26

$2.18

$47,323,764,385

25 / 27

2026-08-27

$2.18

$47,323,764,385

25 / 27

2026-08-28

$2.18

$47,323,764,385

25 / 27

2026-08-29

$2.18

$47,314,676,150

25 / 27

2026-08-30

$2.18

$47,314,676,150

25 / 27

2026-08-31

$2.18

$47,314,676,150

25 / 27

2026-09-01

$2.18

$47,314,676,150

25 / 27

2026-09-02

$2.18

$47,314,676,150

25 / 27

2026-09-03

$2.18

$47,314,676,150

25 / 27

2026-09-04

$2.18

$47,314,676,150

25 / 27

2026-09-05

$2.18

$47,314,676,150

25 / 27

2026-09-06

$2.18

$47,314,676,150

25 / 27

2026-09-07

$2.18

$47,314,676,150

25 / 27

2026-09-08

$2.18

$47,314,676,150

25 / 27

2026-09-09

$2.18

$47,314,676,150

25 / 27

2026-09-10

$2.17

$47,249,771,117

25 / 28

2026-09-11

$2.17

$47,249,771,117

25 / 28

2026-09-12

$2.16

$47,198,864,850

26 / 29

2026-09-13

$2.16

$47,198,864,850

26 / 29

2026-09-14

$2.16

$47,198,864,850

26 / 29

2026-09-15

$2.15

$47,169,666,608

26 / 29

2026-09-16

$2.15

$47,140,230,497

26 / 29

2026-09-17

$2.15

$47,140,230,497

26 / 29

2026-09-18

$2.14

$47,096,388,065

26 / 29

2026-09-19

$2.14

$47,096,388,065

26 / 29

2026-09-20

$2.14

$47,096,388,065

26 / 29

2026-09-21

$2.14

$47,096,388,065

26 / 29

2026-09-22

$2.13

$47,096,393,620

26 / 29

2026-09-23

$2.13

$47,096,393,620

26 / 29

2026-09-24

$2.13

$47,086,707,306

26 / 29

2026-09-25

$2.13

$47,060,626,225

26 / 30

2026-09-26

$2.12

$47,015,025,117

28 / 30

2026-09-27

$2.11

$46,976,933,287

28 / 30

2026-09-28

$2.11

$46,976,933,287

28 / 30

2026-09-29

$2.08

$46,823,252,665

28 / 30

2026-09-30

$2.07

$46,816,604,016

28 / 30

2026-10-01

$2.07

$46,816,604,016

28 / 30

2026-10-02

$1.98

$46,400,962,572

28 / 30

2026-10-03

$1.67

$44,388,944,678

30 / 30

2026-10-04

$1.61

$44,063,783,808

30 / 30

2026-10-05

$1.60

$44,024,314,363

30 / 30

2026-10-06

$1.60

$44,024,314,363

30 / 30

2026-10-07

$1.56

$43,617,307,030

30 / 30

2026-10-08

$1.54

$43,501,779,252

30 / 30

2026-10-09

$1.52

$43,418,445,919

30 / 30

2026-10-10

$1.52

$43,297,298,659

30 / 30

2026-10-11

$1.51

$43,108,390,376

30 / 30

2026-10-12

$1.51

$43,108,390,376

30 / 30

2026-10-13

$1.51

$43,108,390,376

30 / 30

2026-10-14

$1.51

$43,108,390,376

30 / 30

2026-10-15

$1.50

$43,021,026,848

30 / 30

Nike, Inc. (NKE)

What could strengthen or challenge Nike, Inc.’s outlook?

Living FV™

What performance would support the market price?

Operating margin

QuarterlyIQ assumptions

Operating estimates

What would close the gap?

Revenue and growth

Company initiatives in this report

Operating profitability

Company initiatives in this report

Capital and cash timing

Company initiatives in this report

Performance needed for a target price

What the Thesis Depends On

Incoming Evidence

Expectations trend

Outlook in Brief

What's improving

Still unresolved / key risks

Historical risk context

Nike, Inc. outlook in detail

What kind of bet this is

What's priced into Nike, Inc.

What the fundamentals likely do

What Nike, Inc. hinges on

Bottom line

Analyst view

Price-target changes

Next proof point

Bottom line

Date	Buy*	Hold	Sell*
2026-05-01	17	20	2
2026-06-01	16	24	2
2026-07-01	12	25	2
2026-08-01	12	25	3
2026-09-01	11	27	6
2026-10-01	10	27	7