Nike Inc. reported Q4 2026 results on 30 June 2026, with Bloomberg Markets noting the figures exceeded analyst expectations [Brief - 2026-07-01]. The announcement came after market close and was framed around CEO Elliott Hill's turnaround strategy, which the company has been executing following a period of declining performance. Separately, broader macro conditions remained in focus as Middle East escalation drove an oil price surge, with Iran launching ballistic missiles at US military bases overnight on 29 July — all projectiles reported as intercepted by US forces — adding to cross-asset volatility as a Federal Reserve decision and US technology earnings were also pending [Brief - 2026-07-29].
As of the quarter ending 28 February 2026, Nike reported trailing twelve-month revenue of $46.40 billion, reflecting year-over-year revenue growth of 0.09%. Net income on a TTM basis stood at $3.11 billion, with a net margin of 6.70% and gross margin of 42.91%. Operating margin was recorded at 7.05%. EPS declined 35.19% year-over-year on the same TTM basis. Cash on hand was $7.56 billion against total debt of $7.94 billion, producing a near-neutral net debt position. The stock traded at a price-to-earnings ratio of 20.3 [SEC 10-Q - NKE - 2026-02-28].
Institutional ownership data recorded material position changes across several prominent filers. AQR Capital Management added 893% to its NKE position, representing the largest proportional increase among reported filers. Millennium Management added 44% to its position, while Citadel added 9.6%. Conversely, Bridgewater Associates reduced its position by 88%, representing a significant proportional reduction [SEC 13F - AQR Capital - Q2 2026] [SEC 13F - Millennium - Q2 2026] [SEC 13F - Citadel - Q2 2026] [SEC 13F - Bridgewater - Q2 2026]. No insider transaction data was available in the provided context for this reporting period.
The 10-year US Treasury yield stood at 4.75% and the 2-year yield at 4.28%, producing a normal yield curve spread of 47 basis points [FRED DGS10] [FRED DGS2]. This rate environment forms part of the broader context within which consumer discretionary names such as Nike are operating, given the sensitivity of retail demand to borrowing costs and consumer confidence conditions.
This report was generated in response to material institutional position changes identified in the most recent 13F filings, as detailed in the ownership section above.