Nike, Inc. — Overview
Company Basics
Nike was founded in 1964 and is based in Beaverton, Oregon. NIKE, Inc. is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. The company is the largest seller of athletic footwear and apparel in the world.
Nike trades on the NYSE under ticker NKE. As of late September 2026, Nike's stock price was $36.10, with a current market cap of $53.6B with 1.48B shares. The company has 73,000 total employees and its primary industry is Footwear.
Business Structure
Nike reports results along two lines: the NIKE Brand, covering footwear, apparel, equipment and accessories, and Converse, a wholly owned subsidiary built around the Chuck Taylor. Within the NIKE Brand, footwear carries the business, accounting for roughly two-thirds of sales, with apparel a distant second and equipment a minor contributor.
Recent Financial Performance (Fiscal 2026)
For the fiscal year ended May 31, 2026, full year revenues were $46.4 billion, flat on a reported basis and down 2 percent on a currency-neutral basis. Fourth quarter revenues were down slightly, with gross margin for the fourth quarter increasing 890 basis points to 49.2 percent, including an approximately 900 basis point benefit due to the expected recovery of the International Emergency Economic Powers Act ("IEEPA") tariffs.
CEO Elliott Hill described the year as a turnaround effort: "In fiscal 2026, we took decisive actions to strengthen the foundation of NIKE, Inc. and reposition our business for long-term growth," said Elliott Hill. This reflects the company's ongoing "Win Now" strategic plan, which is in its final stretch, with the company taking deliberate steps to strengthen its foundation, sharpen how it competes, and build a model designed to deliver long-term profitable growth.
Shareholder Returns
In fiscal 2026, the Company returned approximately $2.5 billion to shareholders, including dividends of $2.4 billion (up 5 percent from the prior year) and share repurchases of $123 million, reflecting 1.8 million shares retired as part of the Company's four-year, $18 billion program.
Leadership Changes
Nike recently underwent a CFO transition. New CFO Dave Denton joins Nike from Pfizer, Inc., where he served as Chief Financial Officer and Executive Vice President since May 2022, bringing more than 30 years of finance and operating leadership experience across complex global public companies. Prior to Pfizer, Denton served as Chief Financial Officer and Executive Vice President of Lowe's Companies, Inc. from 2018 to 2022. CEO Elliott Hill welcomed him by noting "We're focused on doing what Nike does best: serving athletes, leading with sport and building the most innovative products in the world."
Business Strategy Context
Analysts note that Nike's core strategy centers on brand strength: Nike's business model was never complicated—build a brand strong enough that people pay full price for a shoe made in a contract factory for a fraction of that amount, though the company had drifted from that for a few years while chasing direct-to-consumer margins at the cost of shelf space and cultural presence. The current turnaround shows some encouraging signs, as fiscal 2026 results show wholesale growing again and North America back to positive territory, even as profit remains compressed by tariffs and inventory cleanup.
Competition
Nike's primary competitors include Under Armour, Deckers Outdoor, Columbia Sportswear, Wolverine World Wide, and Abercrombie & Fitch, among 33 total competitors in the athletic footwear and apparel space.
Nike is currently navigating a challenging retail environment marked by tariff pressures, inventory management, and a strategic pivot back toward wholesale partnerships—while working to reignite full-price demand for its iconic swoosh brand.
