Nike Revenue Edges Up 0.09% to $11.28B in Q3 FY2026 as Net Income Drops 35%

Nike Inc. (NYSE: NKE), the global athletic footwear and apparel company, reported revenue of $11.28 billion for the three months ending February 28, 2026, up 0.09% from $11.27 billion in the year-ago quarter. Net income dropped 34.5% to $520 million from $794 million in the prior-year period. Read more earnings reports.

For the nine months ending February 28, 2026, revenue reached $35.43 billion, up 0.6% from $35.21 billion in the same period last year. Nine-month net income totaled $2.04 billion, down 32.2% from $3.01 billion a year earlier.

Gross profit for the quarter declined to $4.53 billion from $4.68 billion, while gross margin compressed to 40.2% from 41.5%. Cost of goods sold rose to $6.75 billion from $6.59 billion.

Selling, general and administrative expenses climbed to $3.98 billion in the quarter from $3.89 billion in the prior-year period. For the nine-month period, SG&A expenses totaled $12.03 billion compared to $11.94 billion.

The company generated $1.23 billion in cash from operations for the nine months, down sharply from $3.24 billion in the year-earlier period. Nike paid dividends of $1.82 billion during the nine months compared to $1.75 billion a year ago.

Nike's balance sheet showed total assets of $37.06 billion as of February 28, 2026, up from $36.58 billion at the end of May 2025. Cash and cash equivalents stood at $6.66 billion, down from $7.46 billion. Long-term debt decreased to $7.03 billion from $7.96 billion.

Stockholders' equity rose to $14.09 billion from $13.21 billion. The company had 1.2 billion shares outstanding as of quarter-end.

Diluted earnings per share for the quarter came in at $0.35, down from $0.54 in the prior-year quarter. For the nine-month period, diluted EPS was $1.38 compared to $2.02.

Quarterly Financial Summary

Nine-Month Financial Summary