Nike (NKE)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $51.4B, Nike's free cash flow of $2.2B (fiscal 2026) would need to grow about 7% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Nike's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from NKE's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Nike's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $46.7B | $51.2B | $51.4B | $46.3B | $46.4B |
| Net income | $6.0B | $5.1B | $5.7B | $3.2B | $3.1B |
| Free cash flow | $4.4B | $4.9B | $6.6B | $3.3B | $2.2B |
| EPS (diluted) | $3.75 | $3.23 | $3.73 | $2.16 | $2.10 |
| Operating margin | — | — | — | — | — |
Where the revenue comes from
Revenue by segments, fiscal 2026.
Superinvestors who own NKE
From each investor's latest 13F filing (what a 13F shows). 7 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Bill Nygren Harris Associates LP |
Trimmed | $591M | 0.78% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Added | $65M | 0.04% | Q2 2026 |
| Sean Stannard-Stockton Ensemble Capital Management |
Trimmed | $25M | 2.1% | Q3 2024 |
| Joel Greenblatt Gotham Asset Management |
Added | $20M | 0.05% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Held | $18M | 0.14% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $5M | 0.00% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $1M | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Nike's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Apr 13, 2026 | Elliott Hill CEO |
23,660 | $42.27 | $1M |
| Apr 10, 2026 | Timothy D Cook Director |
25,000 | $42.43 | $1M |
| Apr 9, 2026 | John W Rogers Jr Director |
4,000 | $43.34 | $173,360 |
| Apr 7, 2026 | Robert Holmes Swan Director |
11,781 | $42.44 | $499,986 |
| Mar 10, 2026 | Ro Khanna |
0 | $56.10 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $56.10 | — |
| Feb 17, 2026 | Ro Khanna |
0 | $64.74 | — |
| Feb 17, 2026 | Ro Khanna |
0 | $64.74 | — |
| Dec 29, 2025 | Elliott Hill |
16,388 | $61.10 | $1M |
| Dec 22, 2025 | Robert Holmes Swan |
8,691 | $57.54 | $500,080 |
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In the full deep dive
Questions
What growth does Nike's stock price imply?
At a market value of $51.4B, Nike would need its free cash flow to grow about 7% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew -2% a year.
Are Nike insiders buying the stock?
10 open-market insider purchases of NKE in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Nike?
7 of the superinvestors Investingly tracks hold NKE in their latest 13F, including Bill Nygren, PRIMECAP Management, Sean Stannard-Stockton.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.