Nike Revenue 2005–2026 — From $13.7B to $51.4B Peak in Two Decades
Nike, Inc. has built one of the most extraordinary revenue growth stories in the history of consumer goods. Founded in 1964 as Blue Ribbon Sports and formally incorporated as Nike in 1971, the company spent its first three decades establishing itself as the dominant athletic footwear brand in the United States before embarking on an aggressive global expansion. By FY2005 (fiscal year ending May 31, 2005), Nike reported annual revenues of $13.74 billion — already a massive figure for a sportswear company, but just the beginning of a two-decade acceleration that would nearly quadruple annual revenues to a peak of $51.4 billion in FY2024. This journey represents a compound annual growth rate (CAGR) of approximately 7.3% over 19 years — remarkable sustained growth for a company of Nike's scale, in an industry that became increasingly competitive over the same period.
The story of Nike's revenue from 2005 to 2026 can be divided into four distinct phases. The first phase (FY2005–FY2012) was one of steady global expansion — Nike grew from $13.7B to $24.1B as it systematically penetrated emerging markets (China, India, Brazil), expanded its apparel and equipment lines beyond footwear, and benefited from major sporting events (2008 Beijing Olympics, 2010 FIFA World Cup, 2012 London Olympics) that amplified its marketing reach. The second phase (FY2012–FY2020) saw Nike execute a strategic premiumisation and DTC shift — growing from $24.1B to $37.4B while deliberately elevating average selling prices, reducing promotional activity, and investing in the Nike+ digital ecosystem that would later power its direct-to-consumer revolution. The third phase (FY2020–FY2024) delivered explosive post-pandemic growth, with revenue surging from $37.4B to $51.4B as consumers shifted spending toward athleisure and wellness, Nike's DTC channels outperformed, and the Jordan Brand reached its highest-ever revenue. The fourth phase — beginning FY2025 — is a painful but strategic reset as the company navigates intensifying competition, right-sizes its wholesale channel relationships, and invests for long-term DTC-led growth. Understanding this trajectory requires familiarity with the dynamics of global financial markets and how brand equity translates into pricing power and sustainable margin expansion.
The scale of Nike's current business is difficult to comprehend without context. At FY2024 revenue of $51.4 billion, Nike generated approximately $140.8 million per day, $5.9 million per hour, or $97,700 per minute — 365 days a year. Nike's gross profit alone ($22.9 billion in FY2024) exceeds the total annual revenues of most of the world's largest sportswear brands. The company sells products in more than 190 countries, operates approximately 1,000 owned retail locations, maintains approximately 30,000 wholesale accounts globally, and reaches consumers through a digital ecosystem that includes Nike.com, the Nike app, the SNKRS app, Nike Training Club, and Nike Run Club — with a combined registered user base exceeding 300 million people. For context on how Nike's revenue compares to other major subscription-based consumer platforms, see our analysis of Spotify's revenue and subscriber data — Nike's annual revenue is approximately 9× that of Spotify despite operating in the physical goods sector.
Nike Annual Revenue 2005–2026 — Full Year-by-Year Data
Nike's fiscal year runs from June 1 to May 31, meaning FY2024 covers June 2023 through May 2024. The company has reported annual revenue growth in the vast majority of fiscal years over the past two decades, with only three notable contractions: FY2009 (slight decline due to the global financial crisis), FY2020 (decline from $39.1B to $37.4B due to COVID-19 pandemic store closures and supply chain disruptions), and FY2025 (decline from $51.4B to $46.3B due to strategic restructuring and competitive pressures). The overall trend, however, is unmistakably upward — with the FY2025 decline representing a deliberate repositioning rather than a structural impairment of Nike's business model.
Several fiscal years stand out as particularly significant milestones. FY2012 marked Nike's crossing of the $24 billion threshold, establishing it as unambiguously the world's largest sportswear company by a significant margin. FY2015 ($30.6B) saw Nike become the first sportswear company to cross $30 billion in annual sales, driven by strong North American performance and the launch of the Nike+ digital platform that would later anchor the DTC strategy. FY2019 ($39.1B) represented Nike's pre-COVID peak, before the pandemic disrupted both supply chains and retail channels. FY2021 ($44.5B) was a landmark as Nike demonstrated the power of its DTC model: while many physical retail-dependent competitors struggled, Nike's Nike.com and app revenues surged 54% in the fiscal year, helping total revenue recover and exceed pre-pandemic levels faster than virtually all industry peers. The company's US financial market performance — and the investor confidence embedded in its equity valuation — reflects this demonstrated channel resilience.
Nike Annual Revenue — FY2005 to FY2026 ($ Billions)
The navy bar chart below covers every fiscal year from FY2005 through FY2026, with the FY2026 projection shown in a distinct lighter shade. Hover or tap each bar for the exact revenue figure and fiscal year. Note the COVID-19 dip in FY2020, the rapid recovery in FY2021, the consecutive record years FY2023 ($51.2B) and FY2024 ($51.4B), and the FY2025 decline to $46.3B.
Nike Revenue — Complete Year-by-Year Table
The sortable table below provides comprehensive year-by-year Nike revenue data from FY2005 through FY2025, including gross profit, net income, and year-over-year growth rate. Click any column header to sort. FY2020 shows the COVID impact clearly — a rare Nike revenue contraction. FY2021 shows the remarkable DTC-driven recovery. FY2025 shows the ongoing restructuring impact.
| Fiscal Year | Revenue | Gross Profit | Net Income | YoY Growth | Gross Margin |
|---|---|---|---|---|---|
| FY2025 | $46.3B | $20.5B | $3.3B | -9.9% | 44.3% |
| FY2024 | $51.4B | $22.9B | $5.7B | +0.3% | 44.6% |
| FY2023 | $51.2B | $22.3B | $5.1B | +9.9% | 43.5% |
| FY2022 | $46.7B | $20.9B | $5.1B | +4.9% | 44.8% |
| FY2021 | $44.5B | $19.9B | $5.7B | +19.1% | 44.7% |
| FY2020 | $37.4B | $16.3B | $2.5B | -4.4% | 43.6% |
| FY2019 | $39.1B | $17.5B | $4.0B | +7.5% | 44.7% |
| FY2018 | $36.4B | $16.0B | $1.9B | +5.8% | 43.8% |
| FY2017 | $34.4B | $15.3B | $4.2B | +6.1% | 44.5% |
| FY2016 | $32.4B | $14.9B | $3.8B | +5.8% | 46.1% |
| FY2015 | $30.6B | $14.1B | $3.3B | +10.1% | 46.1% |
| FY2014 | $27.8B | $12.4B | $2.7B | +9.8% | 44.8% |
| FY2013 | $25.3B | $11.0B | $2.5B | +4.8% | 43.6% |
| FY2012 | $24.1B | $10.5B | $2.2B | +15.6% | 43.7% |
| FY2011 | $20.9B | $9.2B | $2.1B | +9.7% | 44.0% |
| FY2010 | $19.0B | $8.4B | $1.9B | -0.9% | 44.0% |
| FY2009 | $19.2B | $8.3B | $1.5B | +3.0% | 43.4% |
| FY2008 | $18.6B | $8.2B | $1.9B | +14.1% | 44.0% |
| FY2007 | $16.3B | $7.2B | $1.5B | +9.1% | 44.2% |
| FY2006 | $14.9B | $6.6B | $1.4B | +8.7% | 44.2% |
| FY2005 | $13.7B | $6.0B | $1.2B | +12.3% | 43.8% |
Nike Revenue by Product Segment — Footwear 66%, Apparel 28%, Equipment 6%
Nike reports revenue across three primary product segments: footwear, apparel, and equipment. In FY2024, footwear generated approximately $33.9 billion (66%) of total revenue — a dominance that reflects Nike's heritage as a shoe company and the extraordinary commercial success of its shoe lines across performance, lifestyle, and limited-edition categories. Nike footwear includes everything from the Air Jordan 1 retro sneaker (a cultural phenomenon commanding hundreds of dollars in resale) to the Nike Vaporfly racing shoe (a performance product that has dominated elite marathon running since its launch). The breadth of Nike's footwear portfolio — from under $50 to over $250 at retail, with secondary market prices reaching $500-2,000+ for limited editions — gives the company pricing power across virtually every consumer segment.
Apparel contributed approximately $14.4 billion (28%) to FY2024 revenue, encompassing sports performance clothing (training, running, basketball, football, soccer), lifestyle apparel (the "swoosh" fleece, tech fleece, and similar lifestyle items), and collaborations with designers, artists, and other brands. Nike apparel has grown significantly as a revenue share since 2010 — when it represented just 24% of revenue — reflecting the rise of "athleisure" as a dominant global fashion trend. The COVID-19 pandemic dramatically accelerated this trend: as office workers shifted to remote work and consumers prioritised comfort, athletic-inspired clothing displaced formal wear in wardrobes globally, creating sustained demand for premium sportswear apparel beyond traditional workout occasions. The sports and wellness consumer segment that drives Nike apparel demand has proven remarkably resilient across economic cycles. Equipment — comprising bags, socks, sport balls, protective equipment, and accessories — contributed approximately $3.1 billion (6%) in FY2024, representing the smallest but most margin-diverse product category.
Nike's brand architecture adds an important dimension to segment revenue analysis. Nike Inc. operates not only the core Nike Brand (reporting the segments above) but also Converse — the iconic All Star canvas shoe brand acquired in 2003. Converse generated approximately $2.1 billion in FY2024 revenue, reported separately from the Nike Brand segments. Converse has historically been a high-margin contributor to Nike Inc.'s portfolio: its manufacturing cost structure and brand equity in the lifestyle/fashion segment generate gross margins above the Nike Brand average. However, Converse revenue has declined from its FY2022 peak of $2.35 billion as the fashion canvas sneaker trend moderated and competition from New Balance and Vans intensified. Jordan Brand — Nike's premium basketball and lifestyle sub-brand — is not reported separately in Nike's financial statements but is embedded within the footwear and apparel segments; analysts estimate Jordan Brand generates over $5 billion annually and has become one of the most valuable sports sub-brands in the world.
Nike Revenue by Product Segment — FY2024 Breakdown
The navy donut chart below illustrates the proportional breakdown of Nike's $51.4B FY2024 revenue across its three product segments plus Converse (reported separately). The overwhelming footwear dominance is immediately visible — 66 cents of every Nike revenue dollar comes from shoes.
Nike sells approximately 900 million to 1 billion+ units of footwear annually across all its brands and licensing arrangements — more than any other company in the world. The Nike Air Force 1, first introduced in 1982, sells approximately 20 million pairs annually at retail prices of $90-$200, making it the best-selling Nike silhouette of all time and one of the highest-volume sneakers globally. The Air Jordan franchise — launched in 1985 with Michael Jordan — has sold over 100 million pairs since inception and generates over $5 billion annually across footwear and apparel, establishing Jordan Brand as a cultural phenomenon that transcends sports into fashion and streetwear. These unit volumes place Nike's manufacturing scale among the largest in any consumer goods category globally.
Nike Revenue by Geography — North America Leads, China Recovers
North America remains Nike's single largest and most profitable geographic segment, generating approximately $21.4 billion (42%) of FY2024 revenue. The US market has been Nike's home base since the company's Oregon origins, and the American consumer's extraordinary appetite for athletic footwear — the US athletic shoe market is approximately $36 billion annually, the world's largest — provides Nike with a high-volume, high-average-selling-price foundation. North America revenue has shown resilience even during strategic shifts: while Nike reduced wholesale allocations to key US retail partners (including Foot Locker, Dillard's, and department stores) as part of its DTC strategy between 2017 and 2022, the recovered DTC revenue more than compensated. The US consumer's cultural relationship with Nike — particularly through basketball, Jordan Brand, and the sports team market — is deeply embedded and provides a competitive moat that challenger brands have struggled to penetrate despite years of effort. Understanding how US consumer markets drive this kind of brand loyalty requires context from global e-commerce conversion rates — Nike's digital conversion rates are consistently among the highest in any category.
Europe, Middle East & Africa (EMEA) contributes approximately $13.1 billion (25%), making it Nike's second-largest region. European consumers are avid football (soccer) fans and have embraced Nike's football product line — from boots worn by Cristiano Ronaldo and Kylian Mbappé to replica jerseys of clubs and national teams. Nike holds the kit supply contracts for several of the world's most commercially valuable national football teams, generating significant kit and licensing revenue. Nike's European business has also benefited from the premium athletic lifestyle trend, with cities like London, Paris, Amsterdam, and Barcelona showing particularly strong demand for limited-edition collaborations and premium lifestyle products.
Greater China has been both Nike's greatest growth opportunity and its most significant source of recent revenue volatility. China revenue peaked at approximately $9.4 billion in FY2021 before declining to approximately $7.7 billion in FY2024 — a $1.7 billion decline over three years. Multiple factors contributed: a consumer backlash against Western brands following Nike's public statements about Xinjiang cotton sourcing in 2021 (which fuelled "national champion" sentiment and boosted local competitors Li-Ning and Anta), COVID-related lockdowns throughout 2022 that severely disrupted retail operations, a slow consumer confidence recovery in post-COVID China, and the rising quality and cultural appeal of domestic Chinese sportswear brands that now actively compete with Nike and Adidas at similar price points. China's long-term growth potential remains significant — the country is the world's second-largest athletic wear market, growing at 8-10% annually — but the path back to $9B+ requires rebuilding brand relevance and localising the product pipeline. The broader context of how China's GDP growth drives consumer spending is essential for projecting Nike's China recovery timeline.
Nike Revenue by Geography — Regional Breakdown FY2024
The white animated bars below compare Nike's four geographic segments by FY2024 revenue, with North America's $21.4B dominance clearly illustrated. Note China's $7.7B — significantly below its $9.4B FY2021 peak — and APLA's $5.9B, which includes rapidly growing markets like India, Southeast Asia, and Latin America that may drive the next phase of geographic growth.
Nike Direct-to-Consumer Revenue — From 16% (2015) to 43% (2024)
The most transformative strategic story in Nike's 2005–2026 revenue journey is the rise of Direct-to-Consumer (DTC) revenue — the shift from selling predominantly through wholesale retail partners (Foot Locker, Dick's Sporting Goods, department stores) to selling directly to consumers through Nike-owned stores, Nike.com, and the Nike app. In FY2015, DTC represented just 16% of Nike Brand revenue ($4.5 billion of $29.6B). By FY2024, DTC had grown to approximately 43% of total Nike revenue ($21.8 billion of $51.4B) — nearly a tripling of the DTC share in just nine years. This shift has had profound implications for Nike's profitability: DTC channels generate gross margins of approximately 60-65% compared to 35-40% for wholesale, making each DTC dollar significantly more valuable to Nike's bottom line.
The digital component of DTC has been the most explosive growth driver. Nike's e-commerce revenue grew from approximately $1 billion in FY2015 to approximately $11.4 billion in FY2024, making Nike one of the world's largest pure-play digital athletic retailers. The Nike app, SNKRS app (for limited-edition sneaker releases), Nike Training Club, and Nike Run Club collectively boast over 300 million registered users — a digital membership base that Nike leverages for targeted product launches, personalised recommendations, and exclusive access programmes that drive both conversion rates and brand loyalty. The SNKRS app in particular has become a cultural phenomenon: limited-edition sneaker drops generate hundreds of thousands of competing entries within minutes, creating artificial scarcity that amplifies brand desirability and drives premium resale pricing on platforms like StockX and GOAT. Nike's ability to manage and monetise digital demand is directly relevant to broader trends in AI-powered personalisation — Nike is one of the early leaders in using machine learning to optimise inventory allocation, pricing, and product recommendations across its digital channels.
Nike's physical DTC includes approximately 1,000 owned retail locations globally, ranging from Nike Factory Stores (outlet-format, located in outlet malls, selling prior-season inventory at discount) to Nike Sport Retail stores (full-price, experience-focused flagships in premium locations) to Nike Live stores (smaller-format, hyper-localised community stores stocking product curated for the specific neighbourhood's demographic and sport preferences). The flagship Nike stores — including the six-floor Nike House of Innovation in New York's Fifth Avenue and the Nike House of Innovation in Shanghai's Huaihai Road — serve as marketing investments as much as retail venues, creating brand experiences that drive digital engagement and word-of-mouth amplification. Despite the strategic pivot to DTC, Nike remains a major wholesale vendor — approximately 57% of revenue still flows through wholesale partners — but the relationship has been dramatically restructured: Nike now sells to fewer, more strategically aligned partners (prioritising those who provide premium brand presentation and consumer data sharing), and has exited relationships with mass-market retailers that it deemed incompatible with its premium brand positioning.
Nike DTC vs Wholesale Revenue Growth — FY2015 to FY2024
The grouped bar chart below compares Nike's DTC and wholesale revenue trajectories over the past decade, illustrating the fundamental shift in channel mix. DTC has grown from $4.5B to $21.8B (+384%), while wholesale grew from $25.1B to $29.6B (+18%) — a dramatically different growth profile that reflects Nike's deliberate prioritisation of owned channels.
Nike vs Competitors — Revenue Comparison 2024
Nike's revenue dominance in the global athletic wear market is best understood through direct competitor comparison. The animated rank bars below compare FY2024 revenue for the world's leading athletic footwear and apparel companies, placing Nike's $51.4B scale in context. Nike generates approximately 2.2× the revenue of Adidas, 4× that of Puma, and 10× that of On Running — the Swiss challenger brand that has captured significant market share from Nike in the premium running category over the past three years.
Nike Revenue — Key Statistics at a Glance
Nike Revenue Forecast 2028 — Recovery to $52-58B as DTC Matures
Looking toward FY2028 (fiscal year ending May 2028), Nike's revenue trajectory is expected to return to growth following the FY2025 restructuring trough. Under CEO Elliott Hill — a Nike veteran who returned from retirement in October 2024 to lead the turnaround — Nike has articulated a strategic framework focused on four priorities: winning in sport (rebuilding performance credibility in running, basketball, and football), serving the athlete directly (deepening DTC digital relationships), leading with brand power (recovering investment in storytelling and athlete endorsements that had been reduced under the previous management), and right-sizing the business (removing approximately $2 billion in structural costs through FY2026). If this strategy executes as planned, most analyst forecasts project Nike revenue in the range of $52-58 billion by FY2028 — recovering past the FY2024 peak with higher structural margins due to a more favourable DTC mix.
The key growth drivers for FY2026-FY2028 include: a partial recovery in China as local competitive intensity normalises and Nike increases local product development; continued DTC digital growth as the Nike membership ecosystem (300M+ registered users) is more effectively monetised through personalised offers and exclusive access; the rising athletic wear markets of India, Southeast Asia, and Latin America where Nike's brand penetration remains well below its North American and European levels; and innovation-driven product launches in high-growth categories including elite running (Nike Alphafly), women's training, and sustainable materials (Nike's Move to Zero initiative). Nike's investment in AI-powered demand forecasting and supply chain optimisation is also expected to reduce the inventory over-supply issues that weighed on margins in FY2022-FY2023, supporting better gross margin performance through FY2028.
Nike Revenue Trend with 2028 Forecast — Long-Run View
The line chart below extends Nike's historical revenue series through FY2028, showing the FY2025 trough and projected recovery. The shaded area represents the analyst consensus forecast range ($52-58B by FY2028). The chart illustrates why the FY2025 dip, while significant, represents a temporary reset rather than a structural decline in Nike's long-term growth trajectory.
Frequently Asked Questions — Nike Revenue Statistics
Nike's most recent full fiscal year (FY2025, ending May 31, 2025) reported revenue of approximately $46.3 billion — a decline from the FY2024 peak of $51.4 billion. The decline reflects Nike's strategic restructuring under CEO Elliott Hill, reducing wholesale reliance and investing in DTC digital channels. For FY2026 (ending May 2026), Nike projects a return to modest growth with revenues estimated at $47-49 billion as restructuring benefits materialise and China begins to recover.
Nike's peak annual revenue was $51.4 billion, achieved in FY2024 (ending May 31, 2024). This followed FY2023's near-identical $51.2 billion, representing two consecutive record years. From $13.7 billion in FY2005, Nike's revenue grew 275% to reach this peak over 19 fiscal years at a CAGR of approximately 7.3%. FY2025's decline to $46.3B reflects a strategic reset rather than a structural decline — most analysts expect Nike to exceed the FY2024 peak by FY2027-FY2028.
At FY2024 peak revenue of $51.4 billion, Nike generated approximately $140.8 million per day, $5.9 million per hour, or $97,700 per minute. At FY2025 revenue of $46.3 billion, the daily figure is approximately $126.8 million. Revenue is not evenly distributed — Q2 (September-November) and Q3 (December-February) are seasonally strongest, with Q2 benefiting from back-to-school and early holiday shopping, and Q3 from holiday gifting and major sports events like the NFL playoffs and NBA season peak.
Nike's revenue by product segment in FY2024: Footwear: $33.9B (66%) — including running, basketball (Jordan Brand est. $5B+), football, training, and lifestyle. Apparel: $14.4B (28%) — performance and lifestyle clothing. Equipment: $3.1B (6%) — bags, balls, socks, accessories. Converse (separate): $2.1B. Footwear's dominance reflects Nike's heritage and the extraordinary premiumisation of athletic shoes — the Air Force 1 alone sells 20M+ pairs annually, and Air Jordans command $200-$2,000+ in the resale market.
Nike FY2024 geographic breakdown: North America: $21.4B (42%) — largest segment, anchored by the US market. EMEA: $13.1B (25%) — Europe, Middle East, Africa; strong in football. Greater China: $7.7B (15%) — down from $9.4B FY2021 peak due to local brand competition. APLA: $5.9B (11%) — Asia Pacific & Latin America, fastest-growing sub-markets include India and Southeast Asia. Converse (global): $2.1B (4%). China recovery and India acceleration are the key geographic revenue catalysts for FY2026-FY2028.
Nike's DTC revenue reached approximately $21.8 billion in FY2024 — 43% of total revenue, up from 16% ($4.5B) in FY2015. Digital DTC alone (Nike.com + Nike app + SNKRS) contributed approximately $11.4 billion, making Nike one of the world's largest sports e-commerce operations. DTC channels generate gross margins of approximately 62% vs. 40% for wholesale — making the DTC shift a key margin expansion driver. Nike aims to reach 55-60% DTC mix by FY2028, which would structurally improve gross margins toward 47-48%+.
Nike remains significantly larger: Nike FY2024 revenue of $51.4B compares to Adidas FY2023 revenue of approximately €21.4B (~$23.4B) — Nike generates approximately 2.2× Adidas's revenue. Nike's global athletic footwear market share is approximately 27-28% vs. Adidas's 11-12%. However, the gap has narrowed — Adidas recovered strongly post-Yeezy collapse while Nike's FY2025 revenue declined to $46.3B. Nike's market share lead remains dominant, but On Running, Hoka, and New Balance have all taken meaningful share from Nike in the premium performance running category over 2022-2025.
Nike's net income in FY2024 was approximately $5.7 billion on $51.4B revenue — a net margin of 11.1%. Gross margin was 44.6% ($22.9B gross profit). In FY2025, declining revenue and restructuring charges compressed net income to approximately $3.3 billion (net margin ~7.1%), with ~$400-500M in restructuring costs. Nike's long-term gross margin target is 47-48%+ as DTC mix increases — each 1 percentage point shift in DTC mix adds approximately $150-200M in gross profit annually at current scale.
Nike employs approximately 79,000 people worldwide as of 2025, down from ~83,700 at peak in 2023. The reduction reflects Nike's restructuring program targeting $2B in cost savings, which included approximately 1,600-2,000 corporate employee layoffs (~2% of workforce). 98% of Nike's products are manufactured by independent factories — primarily in Vietnam (50% of footwear), Indonesia (27%), and China (18%) — so the headcount primarily reflects corporate, retail, and design/innovation functions rather than manufacturing workers.
Nike's FY2025 revenue decline from $51.4B to $46.3B (-9.9%) was caused by four simultaneous factors: (1) Strategic wholesale reduction — Nike deliberately cut wholesale allocations to reduce reliance on multi-brand retailers, creating a temporary volume gap as DTC couldn't fully compensate. (2) Competition — On Running, Hoka, and New Balance captured significant share in performance running. (3) China — revenues declined as Li-Ning and Anta gained market share. (4) Inventory rightsizing — clearing excess inventory required promotional pricing that compressed average selling prices globally.
Nike's top revenue-generating product lines: Jordan Brand ($5B+ est., embedded in Nike segments) — the most valuable sports sub-brand globally. Air Force 1 (~$2B+) — 20M+ pairs annually, best-selling Nike silhouette ever. Air Max series (~$1.5B+). Nike React running (~$1B+). Nike football boots — global including Mercurial, Tiempo, Phantom lines. The SNKRS app drives disproportionate revenue from limited drops at 2-10× retail MSRP on the secondary market, which amplifies the Air Jordan and Nike Dunk silhouettes' cultural value and drives full-price demand for other product lines.
Nike's market capitalisation peaked at approximately $280 billion in late 2021, making it one of the world's 25 most valuable companies. By early 2026, following revenue decline and restructuring concerns, Nike's market cap had fallen to approximately $70-90 billion — a significant correction from peak. Nike is listed on the New York Stock Exchange (NYSE: NKE) and is a component of the Dow Jones Industrial Average. The stock's recovery is closely tied to the pace of DTC margin expansion, China revenue recovery, and the company's ability to regain market share in performance running from On and Hoka.
Primary: Nike Inc. Annual Reports & 10-K SEC Filings — FY2005 to FY2025
Primary: SEC EDGAR — Nike Inc. 10-K Annual Filings
Secondary: Statista — Nike Revenue and Market Data
BusinessStats: All annual revenue series, segment breakdowns, geographic analysis, DTC vs wholesale channel split, per-day/per-hour revenue calculations, competitor comparisons, and FY2028 forecast projections are BusinessStats proprietary research based on Nike Inc. official SEC filings combined with Bloomberg analyst consensus, FactSet earnings estimates, and BusinessStats proprietary consumer demand modelling.