Filing Flows › Nike (NKE) › Q4 FY26 › vs Q4 FY25
Nike (NKE) Q4 FY26 vs Q4 FY25 (year over year)
Nike's revenue fell $125M (-1%) from $11.1B in Q4 FY25 to $11.0B in Q4 FY26. Gross margin 49.2% against 40.3% (+8.9 pts).
Nike, Q4 FY26: revenue $11.0B (-1% year over year), operating margin 12.1%, net earnings $1.1B, operating cash flow $1.6B. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Gross margin | 49.2% | 40.3% | +8.9 pts |
| Operating margin | 12.1% | 2.9% | +9.2 pts |
| Net margin | 9.7% | 1.9% | +7.8 pts |
| Free cash flow margin | 13.7% | 3.3% | +10.4 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $11.0B | $11.1B | −$125M | -1% |
| Gross profit | $5.4B | $4.5B | $924M | +21% |
| Cost of revenue | $5.6B | $6.6B | −$1.0B | -16% |
| Operating profit | $1.3B | $318M | $1.0B | +318% |
| Operating expenses | $4.1B | $4.2B | −$87.0M | -2% |
| Pre-tax earnings | $1.3B | $318M | $1.0B | +318% |
| Net earnings | $1.1B | $211M | $858M | +407% |
| Income tax | $260M | $107M | $153M | +143% |
| Depreciation & amortization | $193M | $199M | −$6.0M | -3% |
| Share-based compensation | $160M | $165M | −$5.0M | -3% |
| Working capital & other | $215M | −$112M | $327M | — |
| Operating cash flow | $1.6B | $463M | $1.2B | +254% |
| Free cash flow (OCF − capex) | $1.5B | $363M | $1.1B | +313% |
| Capital expenditures | $138M | $100M | $38.0M | +38% |
Questions
How much did Nike's revenue grow year over year in Q4 FY26?
Nike's revenue fell $125M (-1%) from $11.1B in Q4 FY25 to $11.0B in Q4 FY26. Gross margin 49.2% against 40.3% (+8.9 pts).