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Nike NKE Return on invested capital

Return on invested capital at other companies

Deckers Outdoor Corporation logo
Deckers Outdoor CorporationDECK
135.2%+2.2pp
lululemon athletica logo
lululemon athleticaLULU
28.5%-13.6pp
TJX Companies logo
TJX CompaniesTJX
31.9%+2.1pp
Ralph Lauren logo
Ralph LaurenRL
24.8%+4.5pp
Dick's Sporting Goods logo
Dick's Sporting GoodsDKS
11%-14.5pp
Best Buy logo
Best BuyBBY
21.2%+5.4pp

Other financials

Income statement

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Revenue$11.3B+0.1%
Gross profit$4.5B-3.1%
Net income$520.0M-34.5%
EPS (diluted)$0.35-35.2%

Balance sheet

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Cash & equivalents$1.7B-80.3%
Total debt$10.2B-6.7%
Total equity$14.1B+0.6%
Total assets$37.1B-1.9%

Cash flow

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Operating cash flow$430.0M-76.0%
CapEx$146.0M+80.3%
Free cash flow$284.0M-83.4%

Valuation

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Market cap$66.94B-21.7%
Enterprise value$75.42B-16.1%
P/E29.8×+10.8×
P/S1.4×-0.3×

Profitability

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Gross margin40.8%-3.0pp
Net margin4.8%-4.6pp

Returns & leverage

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Return on equity16%-15.9pp
Debt / equity0.7×-0.1×
Current ratio2.1×-0.1×

Where this comes from

Calculated from Nike’s reported figures.

Based on trailing twelve months.

The official record: Nike’s 10-Q, filed April 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nike's return on invested capital?
Nike (NKE) reported return on invested capital of 11.6% in Q4 2025.
How has Nike's return on invested capital changed year-over-year?
Nike's return on invested capital decreased by 56.8% year-over-year, from 26.8% to 11.6%.
What is the long-term trend for Nike's return on invested capital?
Over 3 years (2022 to 2025), Nike's return on invested capital has grown at a -13.1% compound annual growth rate (CAGR), from 152.3% to 100%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.