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May 31
Nike Q4 2025 Earnings Report
Nike reported Q4 2025 earnings with lower revenue and profit, impacted by strategic repositioning.
Key Takeaways
Nike's Q4 2025 results reflected a significant drop in revenue and net income as the company implemented its Win Now strategy. While results aligned with expectations, the quarter marked the largest financial impact from ongoing restructuring efforts.
Revenue declined 12% to $11.1B as all geographies saw decreases
Net income dropped 86% to $211M due to restructuring and weak sales
Gross margin fell sharply to 40.3% on increased discounting
Converse revenue declined 26% as brand performance weakened globally
Nike
Nike
Nike Revenue by Segment
Nike Revenue by Geographic Location
Revenue by Segment
Nike Brand Revenue
CapyFin.comConverse Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comGreater China Revenue
CapyFin.comAPLA Revenue
CapyFin.comGlobal Brand Divisions Revenue
CapyFin.com Forward Guidance
Nike anticipates improvement ahead, driven by strategic realignment under the 'sport offense' initiative.
Positive Outlook
- Expectations of moderating headwinds from Win Now actions
- Alignment of teams to drive sport-focused growth
- Plans to strengthen product portfolio and consumer storytelling
- Leadership confidence in navigating current environment
- Continued investment in brand marketing
Challenges Ahead
- Current quarter showed largest financial drag from restructuring
- Revenue declines across all key geographies
- Digital sales down 26% YoY impacting Direct business
- Gross margin pressure from discounting and channel mix
- Elevated tax rate due to one-time items and lower income base
Revenue & Expenses
Visualization of income flow from segment revenue to net income