NKENIKE, Inc.
Rubber & Plastics Footwear
- Revenue
- $46.4B
- 0.2% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $33.1B
- Employees
- 73,000
- $636K revenue each
- Net debt / EBITDA
- —
- $1.0B net debt
- AI in 10-K
- 2.1
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 3 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$36M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo92% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo89% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentYes62% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$636K · 50th pctBottom quartile of its SIC industry
- Quiet on AINo2.1 per 10K words · 57th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$33.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$469K netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $46.7B | $51.2B | $51.4B | $46.3B | $46.4B | 0.2% |
| Net income | $6.0B | $5.1B | $5.7B | $3.2B | $3.1B | 3.4% |
| Operating cash flow | $5.2B | $5.8B | $7.4B | $3.7B | $2.9B | 22% |
| Capex | $758M | $969M | $812M | $430M | $684M | 59% |
| Stock-based comp | $638M | $755M | $804M | $709M | $715M | 0.8% |
| Buybacks | $4.0B | $5.5B | $4.3B | $3.0B | $146M | 95% |
| Dividends | $1.8B | $2.0B | $2.2B | $2.3B | $2.4B | 4.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $8M · 8
- Open-market sells, 12 mo
- $8M · 11
- Net
- $469K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $36M | $19M | 36 | 48 |
| FY2025 | — | — | 65 | 81 |
| FY2024 | — | — | 100 | 125 |
| FY2023 | — | — | 110 | 117 |
| FY2022 | — | — | 122 | 120 |