Nike (NKE) Operating Margin (2009 - 2026)
Nike's (NKE) quarterly Operating Margin came in at 11.95% in Q2 2026, up 906.0% YoY from 1.19% in Q2 2025, and down 17.97% on a QoQ basis from 14.57% in Q1 2026.
Nike (NKE) Operating Margin (2009 - 2026) Analysis & Trends
Nike (NKE) has 18 years of Operating Margin data on file, last reported at 11.95% in Q2 2026.
- Quarterly Operating Margin rose 906.0% year-over-year to 11.95% in Q2 2026, while the trailing twelve-month figure through May 2026 was 10.53% (down 488.0% YoY) and the FY2026 annual result came in at 8.18%, up 19.0% from the prior year.
- Operating Margin slipped to 11.95% in Q2 2026, from 14.57% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 46.26% in Q2 2024 to a low of 10.8% in Q2 2022.
- A 5-year average of 15.85% and a median of 17.34% in 2025 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2023 — Operating Margin surged 2883 bps — and 2025, when it plunged 4336 bps.
- Tracing NKE's Operating Margin over 5 years: stood at 20.2% in 2022, then gained by 9 bps to 21.95% in 2023, then decreased by 8 bps to 20.28% in 2024, then sank by 60 bps to 8.1% in 2025, then jumped by 48 bps to 11.95% in 2026.
- The last three Operating Margin figures came in at 11.95% (Q2 2026), 14.57% (Q1 2026), and 8.1% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 60.40 Bn | 51.38 Bn | 5.39 Bn | 11.95% |
| 2 | Deckers Outdoor | 13.25 Bn | 11.34 Bn | - | - |
| 3 | Birkenstock Holding | 7.23 Bn | 6.43 Bn | 493.89 Mn | 28.22% |
| 4 | Crocs | 6.34 Bn | 6.17 Bn | 700.71 Mn | 24.22% |
| 5 | Steven Madden | 3.45 Bn | 3.39 Bn | 309.66 Mn | 5.90% |
| 6 | Wolverine World Wide | 1.71 Bn | 1.57 Bn | 235.30 Mn | 9.34% |
| 7 | Weyco | 432.28 Mn | 336.81 Mn | 43.78 Mn | 27.36% |
| 8 | Rocky Brands | 355.90 Mn | 353.27 Mn | 60.80 Mn | 16.63% |
| 9 | Fossil | 329.23 Mn | 234.38 Mn | 130.79 Mn | 1.53% |
| 10 | Forward Industries | 314.59 Mn | 314.59 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| May 31, 2026 | 11.95% |
| Feb 28, 2026 | 14.57% |
| Nov 30, 2025 | 8.10% |
| Aug 31, 2025 | 7.91% |
| May 31, 2025 | 2.89% |
| Feb 28, 2025 | 16.65% |
| Nov 30, 2024 | 20.28% |
| Aug 31, 2024 | 21.01% |
| May 31, 2024 | 46.26% |
| Feb 29, 2024 | 18.88% |
| Nov 30, 2023 | 21.95% |
| Aug 31, 2023 | 12.40% |
| May 31, 2023 | 18.04% |
| Feb 28, 2023 | 18.85% |
| Nov 30, 2022 | 20.20% |
| Aug 31, 2022 | 13.36% |
| May 31, 2022 | -10.80% |
| Feb 28, 2022 | 22.84% |
| Nov 30, 2021 | 21.76% |
| Aug 31, 2021 | 17.34% |