NIKE, Inc. (NKE) Valuation — DCF, Graham & Comparables

NIKE, Inc. (NKE) — Price $40.49 (closing price, November 4, 2026) — Consumer Cyclical — Apparel - Footwear & Accessories — NYSE

Latest reported results:

Valuation dashboard for NIKE, Inc. (NKE) with P/E 19.37, P/B 3.95, EV/EBITDA 13.4 and dividend yield 4.05%. DCF, Graham Number, EPS growth, peer multiples and dividend discount models plus sector comparison against other Consumer Cyclical companies.

NIKE, Inc., through its various subsidiaries, operates as a global enterprise focused on the design, development, marketing, and sale of athletic footwear, apparel, equipment, and accessories for all ages and genders. Beyond its primary offerings, the company provides a range of athletic and casual footwear, clothing, and accessories under the notable Jumpman trademark.

Where would it trade at its usual multiples?

Versus its usual multiples: fairly priced · 2027 est. P/E 31.9× · Multiples range: $23.33 · $37.49.

On those earnings: at the decade median (29.5×) $37 (-7%); at its sector median (18.4×) $23 (-42%). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

Note: earnings per share over the last twelve months ($2.09) are far from the consensus for 2027 ($1.27); that is why this range uses expected earnings.

Analysis Summary

NIKE, Inc. reported revenue of $46.40B in the most recent fiscal year, growing at a 5-year CAGR of 0.8%. Net income reached $3.11B, with a -11.5% 5-year CAGR.

Trailing-twelve-month margins: gross margin 43.1%, operating margin 8.2%, net margin 6.7%.

At $40.49 (closing price, November 4, 2026), NKE trades at a P/E of 19.37 and an ROE of 21.24%. Market capitalisation stands at $60.1B, placing it among large-cap names.

Balance sheet quality for NKE: debt-to-equity ratio of 0.73, current ratio of 2.07 over the last 12 months. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.

Valuation Ratios

P/E Ratio19.37
Price / Book3.95
EV / EBITDA13.4
Dividend Yield4.05%

Peer Comparison

SymbolCompanyMarket CapP/EP/BROE
NKENIKE, Inc.$60.1B19.373.9521.2%
LULULululemon Athletica Inc.$13.0B9.212.6429.7%
CROXCrocs, Inc.$7.3B11.955.5448.8%
COLMColumbia Sportswear Company$3.6B15.552.2114.6%
ASAmer Sports, Inc.$18.6B33.742.728.7%
DECKDeckers Outdoor Corporation$11.9B11.825.2443.6%
ONONOn Holding AG$12.7B25.565.3623.3%
VFCV.F. Corporation$8.2B22.754.0519.9%

Price

Price$40.49 (closing price, November 4, 2026)
Market Cap$60.1B
ExchangeNYSE
CountryUS

Profitability

Return on Equity21.24%
Return on Invested Capital10.34%
Return on Assets8.18%
Gross Margin43.07%
Operating Margin8.20%
Net Margin6.74%

Related companies: LULU · CROX · COLM · AS · DECK · ONON · VFC

Explore sector: Consumer Cyclical · Apparel - Footwear & Accessories

More sections of NKE: Overview · Financials · Estimates · Technical · Ownership

Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method · Companies that pass the Lynch method · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks