NIKE, Inc.
NKE Consumer Cyclical Footwear & Accessories
NIKE, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $46.4 billion, roughly unchanged from fiscal 2025. In the quarter to August 2026, revenue fell 4.33%, EPS fell 2.04%, free cash flow fell 526.7% and total debt fell 1.29%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years; insiders bought in the last twelve months.
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NIKE, Inc. (NKE) Altman Z-score
NIKE, Inc.'s Altman Z-score for fiscal 2026 is 3.65, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 3.65 | (0.65) |
| FY2025 | 4.30 | (1.75) |
| FY2024 | 6.05 | (0.56) |
| FY2023 | 6.61 | (0.23) |
| FY2022 | 6.84 | (0.75) |
| FY2021 | 7.59 | 1.65 |
| FY2020 | 5.94 | (1.89) |
| FY2019 | 7.83 | (0.64) |
| FY2018 | 8.47 | 0.50 |
| FY2017 | 7.97 | (1.22) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.31 | — | 0.38 | |
| Retained earnings / total assets | 0.00 | — | −0.01 | |
| EBIT / total assets | 0.10 | — | 0.33 | |
| Market value of equity / total liabilities | 2.91 | — | 1.74 | |
| Sales / total assets | 1.21 | — | 1.21 | |
| Altman Z-score | Safe zone | 3.65 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.37 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FWDI Forward Industries, Inc. compare | 21.5× |
| ONON On Holding AG compare | 14.4× |
| DECK Deckers Outdoor Corporation compare | 11.5× |
| SHOO Steven Madden, Ltd. compare | 4.8× |
| WEYS Weyco Group, Inc. compare | 4.7× |
| NKE NIKE, Inc. | 3.6× |
| CROX Crocs, Inc. compare | 3.3× |
| BIRK Birkenstock Holding PLC compare | 3.3× |
| WWW Wolverine World Wide, Inc. compare | 3.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on NKE
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement