Q4 25 EPS
$0.14
BEAT +13.45%
Est. $0.12
Q4 25 Revenue
$11.10B
BEAT +3.48%
Est. $10.72B
vs S&P Since Q4 25
-57.7%
TRAILING MARKET
NKE -38.5% vs S&P +19.2%
Full Year 2025 Results
FY 25 EPS
$2.16
BEAT +0.47%
Est. $2.15
FY 25 Revenue
$46.31B
BEAT +0.86%
Est. $45.91B
Market Reaction
Did NKE Beat Earnings? Q4 2025 Results
Nike delivered a modest beat against muted expectations in its fiscal fourth quarter, posting earnings of $0.14 per share against a consensus estimate of $0.12, a 16.67% beat, even as revenue fell 12% year-over-year to $11.10 billion, underscoring th… Read more Nike delivered a modest beat against muted expectations in its fiscal fourth quarter, posting earnings of $0.14 per share against a consensus estimate of $0.12, a 16.67% beat, even as revenue fell 12% year-over-year to $11.10 billion, underscoring the depth of the company's ongoing reset. The headline numbers reflected the toll of aggressive inventory repositioning and heavy discounting, which compressed gross margin by 440 basis points to 40.3%, while Greater China emerged as the weakest geography with a 21% quarterly revenue decline. The Nike Brand slipped 11% to $10.76 billion, and Converse tumbled 26% to $357.00 million, with Nike Brand Digital particularly soft at a 26% drop. CEO Elliott Hill framed the quarter as the peak of financial headwinds from the company's "Win Now" restructuring, and the results were enough to spark a 10% after-hours rally among investors relieved the damage was not worse. Looking ahead, management is betting on a "sport offense" realignment centered on innovation, with early momentum evident in new product franchises already generating meaningful sales traction.
Key Takeaways
- • Higher discounts and changes in channel mix drove 440 basis point gross margin decline
- • NIKE Brand Digital revenues declined 26% in Q4
- • NIKE-owned stores increased 2% in Q4
- • Demand creation expense increased 15% in Q4 due to higher sports and brand marketing
- • Effective tax rate rose to 33.6% from 13.1% due to decreased stock compensation benefits and one-time items
- • Declines across all geographies with Greater China down 21% being the weakest region
- • Jordan Brand full-year revenues declined 16% to $7.27 billion
NKE YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
NKE Revenue by Segment
With YoY comparisons, source: SEC Filings
NKE Revenue by Geography
With YoY comparisons, source: SEC Filings
“While our financial results are in-line with our expectations, they are not where we want them to be. Moving forward, we expect our business to improve as a result of the progress we're making through our Win Now actions.”
— Elliott Hill, Q4 2025 Earnings Press Release
NKE Earnings Trends
NKE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NKE EPS Trend
Earnings per share: estimate vs actual
NKE Revenue Trend
Quarterly revenue: estimate vs actual
NKE Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q3 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q2 26 BEAT | $0.37 | $0.53 | +41.90% | $12.43B | +1.79% |
| Q1 26 BEAT | $0.27 | $0.49 | +84.49% | $11.72B | +6.64% |
| Q4 25 BEAT FY | $0.12 | $0.14 | +13.45% | $11.10B | +3.48% |
| FY Full Year | $2.15 | $2.16 | +0.47% | $46.31B | +0.86% |
| Q3 25 BEAT | $0.28 | $0.54 | +94.88% | $11.27B | +2.13% |
| Q2 25 BEAT | $0.63 | $0.78 | +23.30% | $12.35B | +2.01% |