Nike Stock Is Down

Nike Stock Is Down by Adam Rosen last updated on October 25, 2026

Nike Stock Is Down

Nike Stock Is Down About 80%. Is It Time To Buy?

Nike (NKE) was once a consumer-goods growth star. Its shares are now near 12-year lows, around $36 to $38, and it has lost its place in the S&P 100.

Removed From The S&P 100

Nike left the S&P 100 on Sept. 21, 2026, after nearly 18 years. It remains in the S&P 500. Dell, Palo Alto Networks, Arista Networks and SanDisk replaced it and three other companies.

Market cap: It has fallen from a peak of about $264 billion to roughly $53 billion to $57 billion.
Dividend: The yield is about 4.3% to 4.6%, and Nike has raised the payout for 24 straight years. Dividends are taking up most of its free cash flow, so a cut is a risk. Management calls the dividend a 'very significant priority.'

The Numbers

FY2026 (to May): Revenue was flat at $46.4 billion. Greater China fell 11% to $5.8 billion, and Converse fell 31%.
Q1 FY2027 (to Aug.): Revenue fell 4% to $11.2 billion. Gross margin rose 60 basis points to 42.8%, helped by lower logistics costs. EPS was $0.48.
China: Revenue fell 26% (currency-neutral). Management expects it to get worse, with pressure into early FY2028.
Product: Sportswear fell by low double digits and Jordan by the mid-teens. Nike cut Dunk revenue by almost half.
Outlook: Nike expects FY2027 revenue to fall by high single digits. It also launched a 'Pace' cost program targeting $2.5 billion in savings by FY2031.

Should You Buy?

The yield is attractive, but sales are still shrinking, China is worsening, and the savings plan is multi-year. Until revenue stabilizes, Nike is a high-risk turnaround bet.

Nike Stock Is Down

Nike Stock Is Down About 80%. Is It Time To Buy?

Removed From The S&P 100

The Numbers

Should You Buy?

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