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Nike (NKE) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Jul 15, 2026
Nike (NKE) reported revenue of $11.0B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and -3% from the quarter before. Operating margin was 12.1%, net earnings $1.1B (9.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.0B | -3% | -1% |
| Gross profit | $5.4B | +19% | +21% |
| Operating profit | $1.3B | +104% | +318% |
| Net earnings | $1.1B | +106% | +407% |
| Operating cash flow | $1.6B | +281% | +254% |
| Free cash flow | $1.5B | +428% | +313% |
What changed
Revenue was $11.0B in Q4 FY26, down 1% year over year and down 3% from the previous quarter. Footwear was the largest line at 67% of revenue.
Gross margin was 49.2%, up 8.9 points from Q4 FY25. Operating profit was $1.3B, a 12.1% margin (up 9.2 points year over year). Operating expenses fell 2% while revenue fell 1%. Net earnings were $1.1B, up 407% year over year. The effective tax rate was 19.6%.
Operating cash flow was $1.6B (up 254% year over year), 153% of net earnings. Non-cash charges added back $0.19B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items added $0.21B. Capital expenditures of $0.14B left free cash flow of $1.5B.
Questions
What was Nike's revenue in the fourth quarter fiscal 2026?
Nike (NKE) reported revenue of $11.0B for the fourth quarter fiscal 2026 (Q4 FY26), -1% from a year earlier and -3% from the quarter before.
Was Nike profitable in the fourth quarter fiscal 2026?
Operating profit was $1.3B (12.1% of revenue) and net earnings $1.1B.
Source: Nike 10-K on SEC EDGAR.