NKENikeQ3 FY2026Earnings Analysis

WeakFundamentals score3 / 10

How is this scored?

Base score5
Net income down more than 20% YoY-2

Total3 / 10

Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.

Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →

AI Takeaway

NKE's Q3 FY2026 results show a slight revenue increase but significant declines in net income and cash flow, indicating cost pressures and reduced profitability.

Revenue

$11.28B

+0.09% YoY

EPS (Diluted)

$0.35

-35.19% YoY

Gross Margin

40.2%

-1.3 pts YoY

Filed Apr 1, 2026 · Analysis updated Jul 3, 2026 · Source: SEC EDGAR 10-Q filing

Next NKE earnings expected Sep 28, 2026

Revenue Growth, Margins & Profitability

Source: SEC XBRL

Nike (NKE) reported Q3 FY2026 revenue of $11.28B, up 0.1% year over year. NKE's fiscal Q3 FY2026 corresponds to calendar Q1 2026.

NKE vs Analyst Expectations

Last 4 quarters: 4 beats

Quarter	Actual EPS (USD)	Consensus (USD)	Result
Jun 2026	0.20	0.13	Beat +50.2%
Mar 2026This filing	0.35	0.28	Beat +22.9%
Dec 2025	0.53	0.38	Beat +39.2%
Sep 2025	0.49	0.28	Beat +78.1%

Reported EPS of $0.35 versus the $0.28 analyst consensus — a +22.9% beat for Mar 2026.

NKE Q3 FY2026 Management Discussion Highlights

Compiled by AI from this SEC filing

Revenue Growth

NKE reported a slight revenue increase of 0.1% YoY to $11.28 billion, driven by stable demand despite market challenges.

Source: 10-Q Income Statement

Cost Pressures

Cost of revenue increased by 2.4% YoY, impacting gross profit, which declined by 3.1% to $4.53 billion, reflecting margin pressures.

Source: 10-Q Income Statement

Cash Flow Challenges

Operating cash flow decreased by 61.9% YoY to $1.23 billion, indicating challenges in cash generation and liquidity management.

Source: 10-Q Cash Flow Statement

NKE Q3 FY2026 Risk Factors

Compiled by AI from this SEC filing · 1 high, 2 medium, 0 low

Declining Profitability

high

NKE's net income fell by 34.5% YoY, highlighting significant profitability challenges due to increased costs and stagnant revenue growth.

Source: 10-Q Income Statement

Liquidity Concerns

medium

A 22.6% YoY decrease in cash and equivalents raises concerns about NKE's short-term liquidity and ability to meet obligations.

Source: 10-Q Balance Sheet

Reduced Share Buybacks

medium

Share buybacks fell by 94.8% YoY, potentially impacting shareholder returns and signaling cautious capital allocation.

Source: 10-Q Cash Flow Statement

NKE Financial Charts & Detailed Metrics

Revenue & Net Income Trend

Margin Trend

View NKE's interactive chart on TradingViewLive price, indicators & drawing tools

Paid link→

Key Metrics

Income Statement

Metric	Current	Previous	YoY Change
Revenue $B	11.28 $B	11.27 $B	+0.09%
Cost of Revenue $B	6.75 $B	6.59 $B	+2.35%
Gross Profit $B	4.53 $B	4.68 $B	-3.10%
Net Income $M	520.00 $M	794.00 $M	-34.51%
EPS (Basic) $	0.35 $	0.54 $	-35.19%
EPS (Diluted) $	0.35 $	0.54 $	-35.19%
SG&A Expense $B	3.98 $B	3.89 $B	+2.32%

Balance Sheet

Metric	Current	Previous	YoY Change
Total Assets $B	37.06 $B	37.79 $B	-1.93%
Current Assets $B	23.18 $B	24.61 $B	-5.79%
Current Liabilities $B	10.84 $B	11.22 $B	-3.43%
Stockholders' Equity $B	14.09 $B	14.01 $B	+0.59%
Cash & Equivalents $B	6.66 $B	8.60 $B	-22.57%
Long-Term Debt $B	7.03 $B	7.96 $B	-11.64%

Cash Flow

Metric	Current	Previous	YoY Change
Operating Cash Flow $BYTD	1.23 $B	3.24 $B	-61.95%
Investing Cash Flow $MYTD	-276.00 $M	-289.00 $M	+4.50%
Financing Cash Flow $BYTD	-1.78 $B	-4.18 $B	+57.42%
Share Buybacks $BYTD	0.15 $B	2.79 $B	-94.76%
D&A $M	185.00 $M	198.00 $M	-6.57%

Key Ratios

Metric	Current	Previous	YoY Change
Gross Margin	40.2%	41.5%	-1.3 pts
Net Margin	4.6%	—	—
ROE	3.7%	—	—
ROA	1.4%	—	—
Current Ratio	2.14	—	—

NKE Q3 FY2026 Earnings FAQ

Answers draw on this SEC filing and the data on this page

Did NKE beat earnings estimates in Q3 FY2026?

NKE's Q3 FY2026 earnings showed a decline in net income to $520 million, a 34.5% YoY decrease, which may not have met market expectations.

What were the key takeaways from NKE Q3 FY2026 earnings?

Key takeaways include a slight revenue increase of 0.1% YoY, significant declines in net income by 34.5%, and a 61.9% drop in operating cash flow.

What risks did NKE highlight in its Q3 FY2026 report?

NKE faces risks from declining profitability, liquidity concerns due to a 22.6% drop in cash, and reduced share buybacks by 94.8%.

How did NKE's revenue grow in Q3 FY2026?

NKE's revenue grew by 0.1% YoY to $11.28 billion, indicating stable demand despite broader economic challenges.

What is NKE's current financial health?

NKE's financial health shows challenges with a 34.5% drop in net income, reduced cash reserves, and declining operating cash flow.

When is the next NKE earnings date?

Nike (NKE) is next expected to report earnings on Sep 28, 2026. The date comes from the analyst earnings calendar and can shift until the company confirms it.

More NKE Earnings Reports

NKE FY2026

In FY2026, NIKE's revenue was roughly flat at $46.4B (+0.2% YoY) and gross margin expanded modestly to 42.9%, but net income fell 3.4% to $3.108B and operating cash flow dropped 22.4% to $2.868B as North America growth was offset by steep declines in Greater China and Converse amid ongoing brand and marketplace reset efforts.

Related Earnings Analysis

Other companies in Apparel, Accessories & Luxury Goods

LULU

Lululemon Athletica

Ralph Lauren Corporation

TPR

Tapestry, Inc.

NKENikeQ3 FY2026

WeakFundamentals score3 / 10

How is this scored?

Base score5
Net income down more than 20% YoY-2

Total3 / 10

Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.

Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →

AI Takeaway

NKE's Q3 FY2026 results show a slight revenue increase but significant declines in net income and cash flow, indicating cost pressures and reduced profitability.

Quarter

Actual EPS (USD)

Consensus (USD)

Result

Jun 2026

0.20

0.13

Beat +50.2%

Mar 2026This filing

0.35

0.28

Beat +22.9%

Dec 2025

0.53

0.38

Beat +39.2%

Sep 2025

0.49

0.28

Beat +78.1%

Metric

Current

YoY Change

Revenue $B

11.28

+0.09%

Cost of Revenue $B

6.75

+2.35%

Gross Profit $B

4.53

-3.10%

Net Income $M

520.00

-34.51%

EPS (Basic) $

0.35

-35.19%

EPS (Diluted) $

0.35

-35.19%

SG&A Expense $B

3.98

+2.32%

Metric

Current

YoY Change

Total Assets $B

37.06

-1.93%

Current Assets $B

23.18

-5.79%

Current Liabilities $B

10.84

-3.43%

Stockholders' Equity $B

14.09

+0.59%

Cash & Equivalents $B

6.66

-22.57%

Long-Term Debt $B

7.03

-11.64%

Metric

Current

YoY Change

Operating Cash Flow $BYTD

1.23

-61.95%

Investing Cash Flow $MYTD

-276.00

+4.50%

Financing Cash Flow $BYTD

-1.78

+57.42%

Share Buybacks $BYTD

0.15

-94.76%

D&A $M

185.00

-6.57%

Metric

Current

YoY Change

Gross Margin

40.2%

-1.3 pts

Net Margin

4.6%

—

ROE

3.7%

—

ROA

1.4%

—

Current Ratio

2.14

—