Short answer
Nike, Inc. (NKE) filed its fiscal 2026 10-K annual report with the SEC on Jul 15, 2026. It reported revenue of $46.4B (+0.2% year over year) and net income of $3.1B.
- Top risk flagged: Legal risk: Risks from evolving and conflicting corporate responsibility laws including climate and diversity regulations with increased compliance costs and reputational damage
FY2026 key financial metrics · XBRL
- Revenue
- $46.4B
- +0.2% YoY
- Net income
- $3.1B
- −3.4% YoY
- Gross margin
- 42.9%
- +0.2 pp YoY
- EPS (diluted)
- $2.10
- −2.8% YoY
- ROE
- 20.9%
- −3.5 pp YoY
- Operating cash flow
- $2.9B
- −22.4% YoY
Source: XBRL data from the Nike, Inc. (NKE) FY2026 10-K on SEC EDGAR. USD.
Nike, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Design, development, marketing, and worldwide selling of athletic footwear, apparel, equipment, accessories, and digital consumer services
- Strategic emphasis on digital platform growth and interactive consumer experiences alongside product innovation in athletic and casual segments
- Contract manufacturers operated 95 footwear factories in 11 countries and 321 apparel factories in 34 countries, with Vietnam, Indonesia, and China leading production
- Employee count approximately 73,000 worldwide, including retail and part-time, with expanded investments in employee well-being, diversity, and inclusion initiatives
- Executive leadership updates include Venkatesh Alagirisamy as COO since Dec 2025 and upcoming CFO transition effective Aug-Sept 2026
Management Discussion & Analysis
- Revenue $46.4B, flat YoY reported; down 2% currency-neutral; NIKE Brand wholesale up 6% to $27.5B; NIKE Direct down 6% to $17.7B
- Gross margin 42.9% vs 42.7%, +20 bps; Net income $3.1B down 3%; EBIT margin 8.3% vs 8.2%; ROIC 18.7% vs 20.2%
- Best segment: North America revenue $20.5B, EBIT $5.4B (+14% EBIT); Worst: Converse revenue $1.2B (-31%), EBIT loss widened 93%
- Operating cash flow $2.9B; investing cash flow ($488M); financing cash flow ($2.3B) mainly dividends; share repurchases $122M (1.8M shares)
- Guidance: ongoing challenges in Greater China and Converse expected in FY27; focus on product innovation, marketplace and brand management; supply chain realignment ongoing
Risk Factors
- Legal risk: Risks from evolving and conflicting corporate responsibility laws including climate and diversity regulations with increased compliance costs and reputational damage
- Macroeconomic threat: Global currency fluctuations affecting majority of foreign sales and costs, with hedging only partially mitigating impacts on reported results
- Supply chain vulnerability: Concentrated footwear contract manufacturers risk delays or quality issues, with specialized manufacturers possibly going out of business
- Market disruption risk: Industry competition intensified by AI adoption; failure to innovate or leverage AI in NIKE Direct digital commerce could erode market position
- Financial risk: 2025 downgrade by S&P and Moody's may raise borrowing costs and restrict financing flexibility due to potential covenant violations
Generated from the filing text; verify against the original. How to read a 10-K
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