Tariffs and trade policymixed · 2 filings
“This was partially offset by a change in Inventories due to lower purchases partially offset by increases in product costs, inclusive of higher tariffs in North America.”10-Q · Dec 30, 2025 ↗
NIKE, Inc.
NKE
Market read
NIKE, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
Company-2.0% todayVolume comparison unavailable
Market group0 of 17 activeNo Coherent Theme · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Gross margin contracted 490 basis points and reported EBIT declined 93%, attributed primarily to lower ASP and reset costs including inventory obsolescence reserves and employee severance.
Invalidation: The isolated read changes if NKE's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Gross margin contracted 490 basis points and reported EBIT declined 93%, attributed primarily to lower ASP and reset costs including inventory obsolescence reserves and employee severance.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements38
Verified relationships9
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
- P/E is 53% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 24% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
36.626m-34.3%12m-50.3%24m-54.7%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-05-31$46.7B+4.9%$3.75+0.1%
2023-05-31$51.2B+9.6%$3.23-2.5%
2024-05-31$51.4B+0.3%$3.73-2.6%
2025-05-31$46.3B-9.8%$2.16-2.8%
2026-05-31$46.4B+0.2%$2.10-0.4%
What management says matters
Persistent and emerging business drivers
Product pipeline and R&Dmixed · 1 filings
“Y 31, 2025 2024 Federal income tax rate 21.0 % 21.0 % State taxes, net of federal benefit 2.0 % 1.4 % Foreign earnings 1.1 % - 2.5 % U.S.”10-K · Jul 15, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.2× · EV/sales 1.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
36.62-2.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NKE. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for NKE. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind NKE
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
WMBThe Williams Companies, Inc.partnerJul 17, 2025 ▾
“Williams leads NIKE's four geographic operating units, the global direct to consumer business and wholesale marketplace partnerships.”
WMTWalmart Inc.distributorJul 17, 2025 ▾
“Montagne worked in allocation, planning and merchandising at Gap Inc., Mervyn’s and Walmart Inc.”
Depended on by
ASOAcademy Sports and Outdoors, Inc.competitorMar 17, 2026 ▾
“We have preferred access to hundred s of well-recognized national brands, such as Nike, including its Jordan Brand , Under Armour, adidas, Win chester, Columbia Sportswear, The North Face, Brooks, Skechers, Yeti, Stanley and Carhartt, which are critical to ou…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NKE is currently a Participant in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for NKE; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.