NKE · Full Picture

NIKE, Inc. — the full picture

Earnings window · 2026-06-24 to 2026-09-24 · anchored on the 10-K report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Distribution Channels · Customers & concentrationPriority 74
    -5.9% revenue (realized); 3 sources (news, press_release, sec_filing); 2 forward row(s); structured_verified
    NIKE Brand wholesale revenues were $27.5 billion in fiscal 2026 compared to $25.9 billion in fiscal 2025.
  2. Purchase Commitments and Contractual Obligations · Commitments & obligationsPriority 73
    -16.2% liability; 2 forward row(s); structured_verified
    As of May 31, 2026, product purchase obligations were approximately $4.9 billion with approximately $4.7 billion payable within the next 12 months.
  3. Endorsement Contract Obligations · UnclassifiedPriority 72
    -34.3% liability; 1 forward row(s); quote_verified
    As of May 31, 2026, endorsement contract obligations, including associated marketing commitments, were approximately $15.5 billion with approximately $1.7 billion payable within 12 months.
  4. Capital Return Program · Buybacks & dividendsPriority 71
    -6.6% cash (realized); 3 sources (news, press_release, sec_filing); 2 forward row(s); quote_verified
    As of May 31, 2026, NIKE had repurchased 124.4 million shares at a cost of approximately $12.1 billion (an average price of $97.57 per share) under the $18 billion share repurchase program.
  5. IEEPA Tariff Recovery · Tariffs & trade policyPriority 69
    +9.0% margin (realized); 3 sources (news, press_release, sec_filing); 1 forward row(s); quote_verified
    The expected recovery of the IEEPA tariffs of $986 million increased gross margin by approximately 900 basis points
  6. Financing Activities · Debt, leverage & refinancingPriority 59
    -6.0% cash (realized); structured_verified
    Cash used by financing activities in fiscal 2025: $5,820 million, primarily driven by share repurchases, dividend payments and a $1 billion bond repayment.
  7. Inventory Levels and Composition · Supply chain & operationsPriority 58
    2 sources (press_release, sec_filing); quote_verified
    Inventories as of May 31, 2026 were $7.5 billion, flat compared to the prior year.
  8. Global Brand Divisions Losses · UnclassifiedPriority 57
    2 sources (press_release, sec_filing); quote_verified
    Global Brand Divisions loss before interest and taxes was $(4,603) million in fiscal 2026 compared to $(4,699) million in fiscal 2025.
  9. Greater China Performance · UnclassifiedPriority 57
    +2.1% margin (realized); 3 sources (news, press_release, sec_filing); 1 forward row(s); structured_verified
    Nike is overhauling its strategy in Greater China by cutting ties with thousands of online distributors to focus on flagship platforms.
  10. Converse Revenue Decline and Reset · Revenue growth & mixPriority 56
    -4.9% margin (realized); 2 sources (press_release, sec_filing); structured_verified
    Converse reported EBIT decreased 93% in fiscal 2026 compared to fiscal 2025, resulting in Converse EBIT of $(93) million in fiscal 2026.
  11. Market Demand Trends · Demand, orders & backlogPriority 53
    2 sources (news, press_release); quote_verified
    Nike's stock was down 37.6% year-to-date and over 50% in the last 52 weeks as reported in 2026.
  12. Outstanding Indebtedness · Debt, leverage & refinancingPriority 52
    +5.3% liability (realized); 2 sources (press_release, sec_filing); quote_verified
    On March 7, 2025, NIKE entered into a five-year committed credit facility providing for up to $2 billion of borrowings with an option to increase to $3 billion with lender approval; the facility matures on March 7, 2030 with options to extend the maturity date up to an additional two years.

Threads by pillar

Revenue & Demand Priority 84 · 5 threads

Costs & Margins Priority 76 · 6 threads

Capital & Balance Sheet Priority 91 · 8 threads

Strategy & Portfolio Priority 34 · 1 thread

Legal, Regulatory & Policy Priority 73 · 5 threads

Guidance & Outlook Priority 40 · 1 thread

Macro & Market Conditions Priority 47 · 4 threads

Management & Governance Priority 35 · 4 threads

Unclassified Priority 90 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
liability-50.5%+50.5%+4.9%
margin——+6.2%
cash——-14.5%
net_income——+1.9%
operating_income——+5.6%
revenue——-7.0%
assets——+3.2%