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NIKE, Inc. 8-K Report, Financial Results (Jun 30, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed June 30, 2026
Period End
June 30, 2026
Security
NKE
In the record · 2016–202610-K1110-Q338-K113

NKE filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 113 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Aug ’19Aug ’19
  2. Leadership change8-K · Nov ’21Nov ’21
  3. Leadership change8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed June 30, 2026. Cited figures are marked; the original filing is the authoritative source.

NIKE reported fiscal 2026 fourth-quarter and full-year results for the period ended May 31, 2026.

Full-year revenue was $46.4 billiona, flat on a reported basis and down 2% on a currency-neutral basis. Fourth-quarter revenue was $11.0 billion, down 1% reported and down 4% currency-neutral. Wholesale grew 4% reported, while NIKE Direct fell 7% and Greater China fell 12% reported (17% currency-neutral).

Management said sell-through remains challenged. Profitability was inflated by a one-time item. Fourth-quarter gross margin rose 890 basis points to 49.2%, and diluted EPS was $0.72b, but both include the expected recovery of IEEPA tariffs following the Supreme Court ruling of February 20, 2026.

That recovery totals $986 millionc, of which $965 million is in North America and $21 million in Converse. It adds roughly $0.52 to fourth-quarter EPS. Excluding this benefit, gross margin was roughly 40% (about flat year over year) and EPS was roughly $0.20, versus $0.14 a year earlier.

This is an estimate derived from the disclosed figures, not a figure NIKE reported. For the full year, net income was $3.1 billiond (down 3%) and diluted EPS was $2.10 (down 3%). The balance sheet and capital returns remain solid.

Cash and short-term investments were $9.0 billion, and inventories were flat at $7.5 billion. Long-term debt fell to $5.9 billion from $8.0 billion, with $2.0 billion reclassified as current.

NIKE returned about $2.5 billion to shareholders in fiscal 2026, mostly through $2.4 billion in dividends, and repurchased only $123 million of stock under its four-year, $18 billion program. Investors should weigh the headline margin and EPS recovery against weak top-line trends, particularly in China and digital.

02—Key points

Key Highlights

  1. FY2026 revenue of $46.4B was flat reported and down 2% currency-neutral; Q4 revenue of $11.0B was down 1% reported and down 4% currency-neutral.
  2. Q4 gross margin rose 890 bps to 49.2%, driven by a ~900 bps benefit from a $986M expected IEEPA tariff recovery; excluding this, margin was roughly flat year over year.
  3. Q4 diluted EPS of $0.72 includes a $0.52 IEEPA benefit; FY2026 diluted EPS of $2.10 was down 3%, and net income was $3.1B.
  4. Greater China revenue fell 12% reported (17% currency-neutral) in Q4 and 11% for the year, while NIKE Brand Digital declined 12%.
  5. Wholesale grew 4% in Q4 reported (1% currency-neutral), while NIKE Direct fell 7% and Converse revenue dropped 32%.
  6. Cash and short-term investments were $9.0B; long-term debt declined to $5.9B from $8.0B, with $2.0B now classified as current.
  7. FY2026 shareholder returns were about $2.5B, including $2.4B in dividends (up 5%) and only $123M in buybacks under the $18B program.

03—Questions

Frequently Asked Questions

  1. How much of NIKE's Q4 earnings improvement came from the IEEPA tariff recovery?

    Nearly all of it. The $986M expected recovery added about 900 bps to Q4 gross margin and $0.52 to diluted EPS of $0.72. Excluding this, EPS was roughly $0.20 versus $0.14 a year ago, an estimate based on the disclosed figures. The recovery is an expected amount, and the filing notes only about $0.3B has been received in cash so far.

  2. Is NIKE's demand recovering?

    Not clearly. Full-year revenue was down 2% currency-neutral and Q4 was down 4%. Management described sell-through as challenged. Growth in North America and wholesale was offset by declines in Greater China, EMEA, NIKE Direct and Converse. Management pointed to progress in performance product but did not signal a turnaround in top-line trends.

  3. How healthy is NIKE's balance sheet after the debt changes?

    It remains strong. Cash and short-term investments of $9.0B roughly cover the $2.0B current debt portion, and total long-term debt fell about $2.0B to $5.9B. Inventories were flat at $7.5B, though accounts receivable rose 26% to $5.9B, which investors may want to monitor.

  4. Did NIKE's shareholder returns change?

    Dividends continued to grow, with fourth-quarter dividends of $609M (up 3%) and full-year dividends of $2.4B (up 5%). Share repurchases were minimal at $123M for the year, suggesting that buybacks were deprioritized relative to the dividend in fiscal 2026. The quarterly dividend per share was raised to $0.41 from $0.40.

04—Continue

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