Q4 25 EPS
$0.14
BEAT +16.67%
Est. $0.12
Q4 25 Revenue
$11.10B
BEAT +3.69%
Est. $10.70B
vs S&P Since Q4 25
-51.9%
TRAILING MARKET
NKE -34.7% vs S&P +17.2%
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 better-than-feared fiscal Q4 2025, posting earnings of $0.14 per share against a $0.12 consensus estimate, a 16.67% beat, even as the sportswear giant navigated what management described as the peak of financial pain from its sweepin… Read more Nike delivered a better-than-feared fiscal Q4 2025, posting earnings of $0.14 per share against a $0.12 consensus estimate, a 16.67% beat, even as the sportswear giant navigated what management described as the peak of financial pain from its sweeping "Win Now" turnaround. Revenue came in at $11.10 billion, topping the $10.70 billion estimate by 3.69%, though the top line still fell 12.0% year-over-year as steep discounting and a 26% plunge in NIKE Brand Digital sales weighed heavily on results, compressing gross margin by 440 basis points to 40.3%. The quarter's bright spot fueling investor optimism, including a reported 10% after-hours rally, was evidence that innovation-led products are gaining traction even amid the broader reset. CEO Elliott Hill framed Q4 as a turning point, and CFO Matthew Friend indicated the financial headwinds from repositioning efforts are expected to moderate as Nike enters fiscal 2026 with a new "sport offense" strategy targeting distinction across key sports categories and a revitalized marketplace presence.
Key Takeaways
- • Win Now strategic actions created largest financial headwind in Q4
- • NIKE Brand Digital declined 26% in Q4, the steepest channel decline
- • Higher discounts and channel mix changes drove 440 basis point gross margin contraction
- • Demand creation expense increased 15% due to higher sports marketing and brand marketing investment
- • Effective tax rate increased to 33.6% from 13.1% due to lower pre-tax income and reduced stock-based compensation benefits
- • Greater China was the weakest geography with 21% reported revenue decline
- • NIKE-owned stores grew 2%, partially offsetting digital declines
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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 | — | $0.35 | — | $11.28B | +0.44% |
| Q3 26 | — | — | — | — | — |
| 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 | +16.67% | $11.10B | +3.69% |
| 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% |