Nike (NKE) Operating Margin (2009 - 2026)
Nike's (NKE) quarterly Operating Margin came in at 11.95% in Q2 2026, up 906.0% on a YoY basis from 1.19% in Q2 2025, and up 143.7% quarter-over-quarter from 4.9% in Q1 2026.
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Nike (NKE) Operating Margin (2009 - 2026) Analysis & Trends
Nike (NKE) has reported Operating Margin for 18 consecutive years, with 11.95% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 906.0% year-over-year to 11.95%; the trailing twelve-month figure through May 2026 stood at 8.18% (up 19.0% YoY), and the FY2026 full-year result was 8.18%, up 19.0% from the prior year.
- Operating Margin climbed to 11.95% in Q2 2026 per NKE's latest filing, from 4.9% in the prior quarter.
- Across five years, Operating Margin topped out at 14.98% in Q1 2022 and bottomed at 2.89% in Q2 2025.
- Historically, Operating Margin has averaged 10.37% across 5 years, with a median of 11.3% in 2023.
- The sharpest annual moves came in 2025 and 2026: Operating Margin slumped 937 bps in 2025, then surged 906 bps in 2026.
- Over 5 years, Operating Margin stood at 11.92% in 2022, then rose by 14 bps to 13.63% in 2023, then declined by 18 bps to 11.2% in 2024, then decreased by 28 bps to 8.1% in 2025, then soared by 48 bps to 11.95% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 11.95%, 4.9%, and 8.1% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 54.49 Bn | 45.47 Bn | 5.39 Bn | 11.95% |
| 2 | Deckers Outdoor | 11.48 Bn | 9.57 Bn | - | - |
| 3 | Birkenstock Holding | 5.69 Bn | 4.88 Bn | 493.89 Mn | 28.22% |
| 4 | Crocs | 5.36 Bn | 5.19 Bn | 700.71 Mn | 24.22% |
| 5 | Steven Madden | 3.00 Bn | 2.91 Bn | 309.66 Mn | 5.90% |
| 6 | Wolverine World Wide | 1.58 Bn | 1.42 Bn | 235.30 Mn | 9.34% |
| 7 | Weyco | 414.83 Mn | 319.36 Mn | 43.78 Mn | 27.36% |
| 8 | Caleres | 390.14 Mn | 352.40 Mn | 315.47 Mn | 3.58% |
| 9 | Rocky Brands | 327.09 Mn | 324.47 Mn | 60.80 Mn | 16.63% |
| 10 | Smartbird | 22.36 Mn | -15.53 Mn | 6.19 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 11.95% |
| Feb 28, 2026 | 4.90% |
| Nov 30, 2025 | 8.10% |
| Aug 31, 2025 | 7.91% |
| May 31, 2025 | 2.89% |
| Feb 28, 2025 | 6.99% |
| Nov 30, 2024 | 11.20% |
| Aug 31, 2024 | 10.43% |
| May 31, 2024 | 12.26% |
| Feb 29, 2024 | 10.75% |
| Nov 30, 2023 | 13.63% |
| Aug 31, 2023 | 12.40% |
| May 31, 2023 | 9.52% |
| Feb 28, 2023 | 11.40% |
| Nov 30, 2022 | 11.92% |
| Aug 31, 2022 | 13.36% |
| May 31, 2022 | 12.00% |
| Feb 28, 2022 | 14.98% |
| Nov 30, 2021 | 12.80% |
| Aug 31, 2021 | 17.34% |