Nike Inc. (NKE) Releases Q2 2026 Earnings: Revenue Slightly Up, EPS Down 32%

Nike Inc. (NKE) — Q2 2026 highlights

Total revenue reached $12.4 billion (up 0.59% year-over-year).

Gross profit was $5.0 billion (down 6.38% year-over-year).

Operating profit fell to $1.0 billion (down 27.31% year-over-year).

Net income attributable to common shareholders was $792 million (down 31.9% year-over-year).

Diluted earnings per share came in at $0.53 (down 32.05% year-over-year).

Cash flow and balance sheet

Cash from operating activities declined to $579 million (down 44.8% year-over-year).

Capital expenditures were $193 million (up 49.61% year-over-year).

Cash and cash equivalents stood at $7.0 billion (down 12.6% year-over-year).

Cost of goods sold totaled $7.4 billion (up 5.99% year-over-year).

Total liabilities were $23.7 billion (down 0.92% year-over-year).

Key takeaways

Revenue showed modest growth while profitability weakened across the income statement: gross profit, operating profit and net income all declined materially year-over-year, driving a sharp drop in diluted earnings per share.

Operating cash flow contracted significantly even as capital spending increased, and cash reserves were lower than a year earlier, highlighting pressure on near-term liquidity and free cash generation.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Nike Inc. Insider Trading Activity

Nike Inc. insiders have traded $NKE stock on the open market 12 times in the past 6 months. Of those trades, 4 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $NKE stock by insiders over the last 6 months:

MARK G PARKER (EXECUTIVE CHAIRMAN) has made 0 purchases and 3 sales selling 282,156 shares for an estimated $20,065,656.
TIMOTHY D COOK purchased 50,000 shares for an estimated $2,948,500
JORGEN VIG KNUDSTORP purchased 16,150 shares for an estimated $1,002,753
ELLIOTT HILL (PRESIDENT & CEO) purchased 16,388 shares for an estimated $1,001,306
ROBERT HOLMES SWAN purchased 8,691 shares for an estimated $500,080
TREASURE HEINLE (EVP: CHIEF PEOPLE OFFICER) sold 4,300 shares for an estimated $306,461
ROBERT LEINWAND (EVP: Chief Legal Officer) has made 0 purchases and 3 sales selling 3,360 shares for an estimated $251,577.
PHILIP MCCARTNEY (EVP: CHIEF INN,PROD&DSG OFCR) sold 3,162 shares for an estimated $244,138

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Nike Inc. Hedge Fund Activity

We have seen 919 institutional investors add shares of Nike Inc. stock to their portfolio, and 947 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WELLINGTON MANAGEMENT GROUP LLP removed 11,970,759 shares (-37.1%) from their portfolio in Q3 2025, for an estimated $834,721,025
PACER ADVISORS, INC. removed 6,024,690 shares (-98.4%) from their portfolio in Q3 2025, for an estimated $420,101,633
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC added 4,855,290 shares (+48.0%) to their portfolio in Q3 2025, for an estimated $338,559,371
TWO SIGMA ADVISERS, LP removed 3,947,700 shares (-73.0%) from their portfolio in Q3 2025, for an estimated $275,273,121
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 3,688,049 shares (-99.9%) from their portfolio in Q3 2025, for an estimated $257,167,656
GENERATION INVESTMENT MANAGEMENT LLP removed 3,635,710 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $253,518,058
JENNISON ASSOCIATES LLC added 3,518,666 shares (+42.3%) to their portfolio in Q3 2025, for an estimated $245,356,580

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Nike Inc. Congressional Stock Trading

Members of Congress have traded $NKE stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $NKE stock by members of Congress over the last 6 months:

REPRESENTATIVE VAL T. HOYLE sold up to $15,000 on 09/23.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Nike Inc. Analyst Ratings

Wall Street analysts have issued reports on $NKE in the last several months. We have seen 11 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 12/19/2025
Piper Sandler issued a "Overweight" rating on 12/19/2025
Truist Securities issued a "Buy" rating on 12/19/2025
Goldman Sachs issued a "Buy" rating on 12/19/2025
Guggenheim issued a "Buy" rating on 12/10/2025
Wells Fargo issued a "Overweight" rating on 11/13/2025
BTIG issued a "Buy" rating on 10/15/2025

To track analyst ratings and price targets for Nike Inc., check out Quiver Quantitative's $NKE forecast page.

Nike Inc. Price Targets

Multiple analysts have issued price targets for $NKE recently. We have seen 20 analysts offer price targets for $NKE in the last 6 months, with a median target of $72.5.

Here are some recent targets:

Adrienne Yih from Barclays set a target price of $64.0 on 12/19/2025
Ike Boruchow from Wells Fargo set a target price of $65.0 on 12/19/2025
Simeon Siegel from Guggenheim set a target price of $77.0 on 12/19/2025
Cristina Fernandez from Telsey Advisory Group set a target price of $72.0 on 12/19/2025
Paul Lejuez from Citigroup set a target price of $65.0 on 12/19/2025
Jay Sole from UBS set a target price of $62.0 on 12/19/2025
Joseph Civello from Truist Securities set a target price of $70.0 on 12/19/2025