Nike is basically everywhere. You see the Swoosh on the feet of NBA stars, in the middle of chaotic New York marathons, and on the local high school kid’s favorite hoodie. But when you ask the question, how much is nike company worth, the answer is kind of a moving target right now.
As of mid-January 2026, Nike’s market capitalization—which is the total value of all its shares—sits at roughly $97 billion.
That sounds like a massive number. For most humans, it is. But for Nike, it’s actually a bit of a reality check. Just a few years ago, this was a $200 billion behemoth. The fact that its valuation has basically been sliced in half tells a story of a brand that’s currently in the middle of a messy, public "comeback" phase.
The Real Numbers: Market Cap vs. Net Worth
When people talk about what a company is "worth," they usually mean the market cap. This is just the current stock price multiplied by the number of shares floating around. Right now, Nike’s stock (NKE) is hovering around $65 per share. With about 1.48 billion shares outstanding, you get that $97 billion valuation.
But that’s not the only way to look at it. If you look at the balance sheet—what accountants call "Total Equity"—the number is much smaller, roughly $14 billion. This represents the company’s actual assets minus its liabilities.
Then there’s the "Enterprise Value" (EV). This is what it would cost to actually buy the whole company, pay off its debt, and keep its cash. Nike’s EV is currently around $93.5 billion.
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Why the Valuation is Shifting Right Now
Honestly, it’s been a rough ride lately for the folks in Beaverton, Oregon. Nike has been grappling with some serious "growing pains" that are more like "shrinking pains."
The Direct-to-Consumer Backfire
A few years ago, Nike decided to ditch a lot of its wholesale partners (like Foot Locker or local boutiques) to sell directly to you through their own website and apps. They thought they could keep all the profit for themselves. It worked for a while. Then, it didn't.
They realized they actually needed those stores to reach people who just want to walk into a mall and try on a pair of Pegasus runners. Now, they are desperately trying to rebuild those relationships.
The China Problem
Greater China used to be Nike’s golden goose. Now, it’s a headache. Between a sluggish economy and local Chinese brands like Anta and Li-Ning getting really good at what they do, Nike’s sales there have been taking a hit. In their latest fiscal reports for early 2026, revenue in China has continued to see pressure, which keeps the company’s overall valuation suppressed.
The "Innovation Gap"
If you talk to sneakerheads, they’ll tell you Nike got "boring." While brands like Hoka and On Running were inventing wild new foam technologies and shapes, Nike was busy re-releasing the Dunk Low in 500 different colors.
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Revenue and Profits: A Quick Snapshot
To understand how much is nike company worth, you have to look at the money coming in. It’s still a cash-generating machine, even if the engine is sputtering.
- Annual Revenue: For the fiscal year ending in 2025, Nike brought in about $46.3 billion. That’s a roughly 10% drop from the year before.
- Net Income: Their latest quarterly profit was around $792 million.
- Dividends: Despite the stock price struggle, Nike has raised its dividend for 24 years straight. They currently pay out about $0.41 per share every quarter.
Investors are watching these numbers like hawks because they show whether the "Win Now" comeback plan is actually working. CEO Elliott Hill has been calling this the "middle innings" of a turnaround.
The Intangible Asset: Brand Value
There is one part of Nike’s worth that doesn't show up perfectly on a spreadsheet: the brand value.
Interbrand and other ranking firms often value the "Nike" name itself at over $50 billion. This is the "secret sauce." It’s the reason why someone will pay $160 for a pair of Jordans that cost $25 to make. Even if the market cap is down, the brand power remains one of the strongest in human history.
Is Nike Undervalued or Overvalued?
This is where experts disagree.
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Some analysts, like those at Wells Fargo or Deutsche Bank, have price targets for Nike well above $100. They believe the company is "on sale" right now and will bounce back once the new products hit the shelves later this year.
Others are more skeptical. They point to the fact that Nike’s Price-to-Earnings (P/E) ratio is still around 37 to 39. That’s actually quite high compared to a company like Lululemon. It suggests that even with the price drop, investors are still paying a "premium" for the Nike name.
What This Means for You
If you’re trying to figure out the value of this company for your own portfolio or just because you’re curious about the business of sports, here is the bottom line:
- Look past the stock price: The price tells you what the market feels today, but the $46 billion in annual revenue tells you the actual scale of the business.
- Watch the wholesale shift: If you see Nike shoes popping up in more stores where they were previously missing, that’s a sign their recovery is gaining steam.
- Check the innovation: The "worth" of Nike is tied to its next big shoe. Keep an eye on their performance running and basketball tech launches in the summer of 2026.
Nike is no longer the "untouchable" stock it was in 2021, but it remains the dominant player in the $400 billion global footwear and apparel market. Whether it’s worth $97 billion or $150 billion by this time next year depends almost entirely on if they can make people "just do it" again.
To get a clearer picture of Nike's standing, compare their current market cap to their historical highs in 2021; this gap represents the "recovery potential" that aggressive investors are currently betting on.
Actionable Insight: If you are tracking Nike's valuation, focus on their Gross Margin in the next quarterly report. A margin holding steady above 40% suggests they still have pricing power despite the competitive pressure from newer brands.