NKE
NIKE, Inc.
NKE has the edge over OI overall, supported by stronger valuation and stronger fundamentals.
OI
O-I Glass, Inc.
OI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
NKE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
NKE's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
OI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Under pressure | |
| Weak |
OI's revenue is currently stable, but its profitability, cash flow and balance sheet are under pressure.
NKE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $37.76 | — |
| Cheap | 23x | $47.70 | +26% |
| Forward | 30x | $37.76 | — |
| Fair | 33x | $68.16 | +80% |
| Expensive | 47x | $97.86 | +159% |
Historical ranges are pointers, not guarantees.
NKE's PE is in its cheap range at 18x. On analysts' estimates for next year's earnings, today's price would be 30x, in its fair range.
OI PE Valuation
OI has no meaningful PE right now: it lost money over the past year.
NKE Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Stable | |
| Decline | |
| Improving | |
| Moderate | |
| Low |
Analysts expect NKE's profitability to improve, but its revenue to decline. However, they disagree widely on these estimates.
OI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect OI's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
NKE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.27 | -39% |
| Q3 2026 | $2.09 | +7.2% |
| Q2 2026 | $2.10 | -2.8% |
| Q1 2026 | $1.51 | -50% |
| Q4 2025 | $1.70 | -48% |
| Q3 2025 | $1.95 | -44% |
| Q2 2025 | $2.16 | -42% |
| Q1 2025 | $3.01 | -11% |
| Q4 2024 | $3.24 | -5.3% |
NKE has the edge over OI on earnings quality, reporting a profit while its opponent remains loss making.
OI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.51 | — |
| Q3 2026 | -$7.79 | -$6.87 |
| Q2 2026 | -$7.52 | -$5.89 |
| Q1 2026 | -$1.22 | +$0.02 |
| Q4 2025 | -$0.84 | -$0.15 |
| Q3 2025 | -$0.92 | +$1.76 |
| Q2 2025 | -$1.63 | +$0.21 |
| Q1 2025 | -$1.24 | +$0.27 |
| Q4 2024 | -$0.69 | -$0.02 |
OI lost $7.79 per share over the past year, and its loss has widened in each of the last three quarters.
NKE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11.2B | -4.3% |
| Q2 2026 | $11B | -1.1% |
| Q1 2026 | $11.3B | +0.1% |
| Q4 2025 | $12.4B | +0.6% |
| Q3 2025 | $11.7B | +1.1% |
| Q2 2025 | $11.1B | -12% |
| Q1 2025 | $11.3B | -9.3% |
| Q4 2024 | $12.4B | -7.7% |
NKE's revenue fell from its 2023 peak and has held roughly level since: $11.2B last quarter, down 4.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +0.3 points |
| Q2 2026 | 12% | +9.2 points |
| Q1 2026 | 5.8% | -1.7 points |
| Q4 2025 | 8% | -3.4 points |
| Q3 2025 | 7.9% | -3.4 points |
| Q2 2025 | 2.9% | -11 points |
| Q1 2025 | 7.5% | -3.8 points |
| Q4 2024 | 11% | -2.9 points |
NKE has the edge over OI on profitability, with a higher operating margin.
OI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.6B | -1.8% |
| Q2 2026 | $1.7B | -2.2% |
| Q1 2026 | $1.5B | -1.7% |
| Q4 2025 | $1.5B | -1.9% |
| Q3 2025 | $1.7B | -1.5% |
| Q2 2025 | $1.7B | -1.3% |
| Q1 2025 | $1.6B | -1.6% |
| Q4 2024 | $1.5B | -6.8% |
OI's revenue has held roughly level: $1.6B last quarter, down 1.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.1% | -1.4 points |
| Q2 2026 | -50% | -50 points |
| Q1 2026 | -3.4% | -4.6 points |
| Q4 2025 | -48% | -40 points |
| Q3 2025 | 3.5% | +6.9 points |
| Q2 2025 | 0.4% | -5.6 points |
| Q1 2025 | 1.1% | -6.2 points |
| Q4 2024 | -8.2% | +19 points |
OI's operating margin was 2.1% last quarter, down 1.4 points from the same quarter a year ago.
NKE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$64M | -527% |
| Q2 2026 | $1.5B | +313% |
| Q1 2026 | $284M | -83% |
| Q4 2025 | $386M | -58% |
| Q3 2025 | $15M | -95% |
| Q2 2025 | $363M | -85% |
| Q1 2025 | $1.7B | -11% |
| Q4 2024 | $920M | -65% |
NKE has the edge over OI on cash generation, producing positive trailing cash flow while its opponent burns cash.
OI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $84M | -26% |
| Q2 2026 | -$1M | -102% |
| Q1 2026 | -$436M | -$130M |
| Q4 2025 | $309M | +47% |
| Q3 2025 | $114M | +107% |
| Q2 2025 | $51M | -43% |
| Q1 2025 | -$306M | +$177M |
| Q4 2024 | $210M | +33% |
OI's free cash flow was −$44M over the past year, against $69M the year before.
NKE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +3.2M shares |
| 1 year | +0.4% | +5.2M shares |
| 3 years | -3.8% | -59.1M shares |
| 5 years | -8.4% | -135M shares |
| Available history | -6.9% | -110M shares |
NKE has 1.5B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $20M |
| Q3 2025 | $126M |
| Q2 2025 | $199M |
| Q1 2025 | $506M |
| Q4 2024 | $1.1B |
NKE has spent almost nothing on buybacks in the past year.
OI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +314K shares |
| 1 year | -0.9% | -1.4M shares |
| 3 years | -3.4% | -5.5M shares |
| 5 years | -4.2% | -6.7M shares |
| Available history | -0.9% | -1.4M shares |
OI has the edge over NKE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $10M |
| Q4 2025 | $10M |
| Q3 2025 | $10M |
| Q2 2025 | $10M |
| Q1 2025 | $10M |
| Q4 2024 | $10M |
OI spent $20M buying back its own shares over the past year, down 50% from the year before.
NKE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 0.2x | Very low |
| Q3 2024 | 0.1x | Very low |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.0x | Very low |
| Q4 2023 | 0.1x | Very low |
NKE's net debt is less than a year of its operating earnings (EBITDA).
OI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 10.9x | High |
| Q2 2025 | 14.9x | High |
| Q1 2025 | 11.0x | High |
| Q4 2024 | 8.1x | High |
| Q3 2024 | 20.8x | High |
| Q2 2024 | 12.6x | High |
| Q1 2024 | 11.2x | High |
| Q4 2023 | 7.3x | High |
OI's net debt is about 11 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
NKE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.0 | Neutral |
| Stochastic | 57.5 | Neutral |
NKE's weekly RSI is 40 (neutral) and its Stochastic is 58 (neutral).
OI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.8 | Oversold |
| Stochastic | 5.3 | Oversold |
OI's weekly RSI is 30 (oversold) and its Stochastic is 5 (oversold).
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE is trading at 18x earnings, in line with the Consumer Cyclical sector's median of 18x.
OI PE vs Consumer Cyclical Sector
| Metric | OI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 18x | — |
OI has no meaningful PE right now: it lost money over the past year.
NKE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $36.7 | 2.8% above |
| 20 week MA | $39.2 | 3.6% below |
| 50 week MA | $48.0 | 21% below |
| 100 week MA | $58.4 | 35% below |
| 200 week MA | $79.2 | 52% below |
NKE has the edge over OI on trend strength, trading above more of its moving averages.
OI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.63 | 13% below |
| 20 week MA | $6.90 | 29% below |
| 50 week MA | $10.0 | 51% below |
| 100 week MA | $11.3 | 57% below |
| 200 week MA | $13.9 | 65% below |
OI is in a downtrend: it's below all five of its weekly moving averages, and 65% below its 200-week average.
NKE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.6 | $141.6 | +39% |
| 2021 | $141.6 | $165.7 | +17% |
| 2022 | $165.7 | $116.3 | -30% |
| 2023 | $116.3 | $108.6 | -6.6% |
| 2024 | $108.6 | $76.4 | -30% |
| 2025 | $76.4 | $60.9 | -20% |
| 2026 YTD | $60.9 | $37.8 | -38% |
NKE has the edge over OI on returns for 2026, with the stronger performance.
OI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.9 | $11.5 | -3.3% |
| 2021 | $11.5 | $11.5 | +0.3% |
| 2022 | $11.5 | $16.9 | +46% |
| 2023 | $16.9 | $16.4 | -2.9% |
| 2024 | $16.4 | $10.3 | -37% |
| 2025 | $10.3 | $14.9 | +45% |
| 2026 YTD | $14.9 | $4.88 | -67% |
OI has finished lower in three of the last six years. It's down 67% so far in 2026.