Analysis for NKE

📈 Growth & Financial Trajectory

Over the eight quarters, Nike's Revenues have stayed in a narrow band around roughly $11.0B–$12.6B, with no persistent uptrend. The sequence shows a dip in mid-2025 followed by a rebound into early 2026, while Net Income moved from the low hundreds of millions to highs near $1.5B in a prior quarter, indicating earnings volatility. Cash Flow From Operating Activities was generally positive, though magnitude varied quarter to quarter, and investing cash flow remained negative as Nike invests in brand, product, and DTC initiatives.

💰 Margins & Cash Flow

Gross margins have been in the ~40% range, with operating margins often in the mid-single digits, reflecting ongoing operating leverage. The eight-quarter pattern shows modest improvement in Cash Flow From Operating Activities during the stronger revenue quarters and continued cash outflows for investing activities. Net Income volatility is influenced by tax effects and non-cash adjustments but the company sustains positive cash generation.

🛡️ Balance Sheet & Liquidity

Total assets sit around the mid-to-high $30B, with equity in the mid-teens, and current liabilities typically around the low-$10B range. This supports a healthy liquidity profile (current ratio near 2x in several periods) and a conservative leverage posture, with long‑term debt available but not dominant.

⚠️ Key Drivers & Risks

• Drivers: Brand strength, global footprint, and direct-to-consumer growth.
• Risks: Consumer discretionary cycles and currency/commodity volatility threaten near-term margin headwinds.