NKE · 10-K · 2026A

NIKE, Inc.

Filed 2026-07-15 · Other · View original filing on EDGAR

Ranked Events

• Financing ActivitiesImportance 82 · Surprise 82
  In fiscal 2026, cash used by financing activities was $2,292 million, primarily driven by dividend payments. By comparison, fiscal 2025 cash used by financing activities was $5,820 million, driven by share repurchases,…
• IEEPA Tariff RecoveryImportance 78 · Surprise 100
  On February 20, 2026 the U.S. Supreme Court ruled that tariffs imposed under the IEEPA on imported goods were unauthorized; NIKE recognized a probable recovery and recorded a $986 million benefit in Cost of sales…
• Greater China PerformanceImportance 74 · Surprise 58
  Greater China revenues decreased 13% on a currency-neutral basis to $5,847 million in fiscal 2026, with wholesale down 14 reflecting prioritized marketplace-health actions and NIKE Direct down 12%, driven by a 29%…
• Distribution ChannelsImportance 74 · Surprise 58
  Wholesale grew to $27.5 billion in fiscal 2026 (from $25.9B), driven by higher revenues in North America and expanded distribution, while NIKE Direct declined to $17.7 billion (from $18.8B) primarily due to decreased…
• Converse Revenue Decline and ResetImportance 66 · Surprise 74
  Converse revenues declined to $1,174 million in fiscal 2026 from $1,692 million in fiscal 2025, a reported decrease of 31% and a currency‑neutral decrease of 32% year-over-year; unit sales decreased 31% and ASP…
• Severance and Restructuring ChargesImportance 65 · Surprise 82
  In fiscal 2026 NIKE recognized $385 million of charges associated with employee severance costs as part of cost realignment across supply chain and technology to serve an integrated marketplace. The Company indicates…
• Endorsement Contract ObligationsImportance 64 · Surprise 42
  As of May 31, 2026, NIKE reports endorsement contract obligations, including marketing commitments, of approximately $15.5 billion, with about $1.7 billion payable within 12 months. The obligations primarily represent…
• Purchase Commitments and Contractual ObligationsImportance 64 · Surprise 42
  As of May 31, 2026, NIKE had endorsement contract obligations of approximately $15.5 billion, with about $1.7 billion payable within 12 months, primarily representing base compensation and minimum guaranteed royalty…
• Inventory Levels and CompositionImportance 64 · Surprise 42
  Inventories as of May 31, 2026 were $7.5 billion, flat year-over-year, driven primarily by an increase in units offset by product mix changes. The company is actively managing inventory through markdowns and higher…
• Capital Return ProgramImportance 64 · Surprise 42
  Under the four-year, $18 billion share repurchase program approved in June 2022, NIKE repurchased 124.4 million shares at a cost of approximately $12.1 billion as of May 31, 2026, and purchased 1.8 million shares for…
• Brand and Demand Creation SpendingImportance 63 · Surprise 50
  NIKE is increasing investment in demand creation — including brand marketing and sports marketing — to support key product launches and sports moments, with demand creation expense of $4,754 million in fiscal 2026.…
• Global Brand Divisions LossesImportance 58 · Surprise 42
  Global Brand Divisions reported an EBIT loss of $(4,603) million in fiscal 2026, representing centrally managed NIKE Brand costs including product creation, design, NIKE Direct global digital operations and enterprise…
• Investing ActivitiesImportance 57 · Surprise 64
  In fiscal 2026, cash used by investing activities was $488 million, primarily for additions to property, plant and equipment, partially offset by net changes in short-term investments. In fiscal 2025, cash used by…
• ROIC and Invested CapitalImportance 55 · Surprise 32
  Return on Invested Capital (ROIC) was 18.7% as of May 31, 2026 compared to 20.2% as of May 31, 2025. The ROIC numerator (EBIT less tax adjustment) for the trailing four quarters ended May 31, 2026 was $3,068 million…
• Asia Pacific & Latin America PerformanceImportance 49 · Surprise 32
  Asia Pacific & Latin America revenues were essentially flat, decreasing 1% on a currency-neutral basis to $6,243 million in fiscal 2026, with declines concentrated in Southeast Asia & India, Japan and Korea offset by…
• Liquidity and Cash PositionImportance 49 · Surprise 6
  As of May 31, 2026, NIKE reported Cash and equivalents and Short-term investments totaling $9.0 billion, invested primarily in investment-grade instruments with a weighted-average days to maturity of 103 days. The…
• Product Purchase ObligationsImportance 48 · Surprise 6
  As of May 31, 2026, NIKE had product purchase obligations of approximately $4.9 billion, with roughly $4.7 billion payable within the next 12 months. These obligations represent enforceable agreements, including open…
• Other Purchase ObligationsImportance 42 · Surprise 6
  As of May 31, 2026, NIKE reported other purchase obligations of approximately $2.4 billion, with about $1.6 billion payable within the next 12 months. These obligations primarily include technology investments,…
• Europe, Middle East & Africa PerformanceImportance 42 · Surprise 14
  EMEA revenues decreased 3% on a currency-neutral basis to $12,572 million in fiscal 2026, driven by a 9% decline in NIKE Direct (digital down 10%, stores down 8%) while wholesale was flat. Footwear revenues fell 5%…
• North America PerformanceImportance 42 · Surprise 14
  North America revenues grew 5% on a currency-neutral basis to $20,511 million in fiscal 2026, driven by a 14% increase in wholesale through expanded distribution and higher shipments, while NIKE Direct declined 6% as…

Revenue by Product (in millions)

Revenue by Geography (in millions)