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NIKE, Inc. was incorporated in 1967 under the laws of the State of Oregon. Our principal business activity is the design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and services.
$43.73
$2.20 (-4.79%)
Last close via Marketstack
Operating margin is thin at 7.99%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 9.8% YoY. Margins deteriorated 4.3pp alongside, both lines moving the wrong way.
At 29x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 51% versus the prior year, cash generation momentum has weakened.
29.0x earnings, 61.8x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$46.52B
▼ -9.8% YoY
Net Income (TTM)
$2.25B
▼ -43.5% YoY
Op. Margin
6.03%
▼ -4.3pp YoY
ROIC
8.72%
▼ -8.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.05B
▼ -50.6% YoY
Op. Cash Flow (TTM)
$1.69B
▼ -50.2% YoY
Net Debt
$3.12B
Cash & Equiv.
$8.06B
5Y CAGR: +4.4%
5Y CAGR: +18.5%
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