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NIKE, Inc. — Intrinsic Value & Fair Price

NKE
NYSEConsumer CyclicalApparel - Footwear & AccessoriesCIK 0000320187nike.comAbout NKE
Last close · Oct 16, 202637.13−0.01 (−0.03%)
Market cap$55.1B
Model value · DCF · Perpetuity growth · 5y
31.97
Nike closed at $37.13 — overvalued by 16% vs model.
22.55the model's range58.28

DCF · Perpetuity growth · 5y leads for dividend payer — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
14.92 – 50.82
Wall St. target
34.50 8% above
Above model, 1y
6 of 22 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
4.42%
#43 · Highest dividend yield
Past 2 years
low 1.65%high 4.84%
Dividends per share, a year at a time
$1.10Aug ’21$1.22Sep ’22$1.36Sep ’23$1.48Sep ’24$1.60Sep ’25$1.64TTM
Dividends / free cash flow, FY2026
110.2%
Raised
24 years in a row
Growth, 5 yrs
8.3% a year
Last change
+2.5% · Dec 2025
Every payment, with ex-dates · latest $0.41, paid Oct 1, 2026

Research on NKE

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How it is valued

Valued asDividend Payer
Revenue declining (~-5% recent)Moderate margins (7% net margin)Strong dividend yieldHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2026
P/E
17.7×
EV / EBITDA
12.1×
FCF yield
4.0%
Dividend yield, TTM
4.42%
Beta
1.10
Cost of capital (WACC)
8.82%
Full financials

Analyst actions

third-party, quoted
10-09Deutsche Bank · target33.00
10-06Berenberg Bank · target27.50
10-05Barclays · target37.00
10-02Freedom Broker · “Buy” from “Sell”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just NKE. No account.

About Nike

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. It also distributes a variety of casual sneakers, apparel, and accessories, featuring well-known brands like Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell. Under the NIKE brand itself, the company supplies a comprehensive line of performance sports gear and accessories, such as bags, socks, sports balls, eyewear, timepieces, digital devices, bats, gloves, and protective equipment. Additionally, NIKE sells various plastic products to other manufacturers. The company also markets sportswear adorned with licensed logos from college and professional sports teams and leagues. Furthermore, it engages in licensing arrangements, allowing unaffiliated parties to manufacture and sell apparel, digital devices, applications, and other sports equipment under NIKE-owned trademarks. Its extensive product catalog reaches consumers globally through diverse channels, including specialized footwear, sporting goods, athletic specialty, department, skate, tennis, and golf stores. Distribution occurs via NIKE's proprietary retail outlets, digital e-commerce platforms, independent distributors, authorized licensees, and sales representatives. Founded in 1964, the company was originally named Blue Ribbon Sports, Inc., before officially becoming NIKE, Inc. in 1971, and maintains its corporate headquarters in Beaverton, Oregon.

CEO
Elliott J. Hill
Headquarters
Beaverton, OR
Employees
73,000
IPO
1980-12-02
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.