NKE
NIKE, Inc.
NKE has the edge over THO overall, supported by stronger valuation and stronger modeled upside.
THO
Thor Industries, Inc.
THO's outlook is improving, though it still trails on the overall score.
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.
THO Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Under pressure | |
| Healthy |
THO's balance sheet is currently healthy, and its profitability is stable, but its revenue and cash flow 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 has the edge over THO in the historical PE scenario, which offers more potential upside but is not a forecast.
THO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.6x | $18.83 | -76% |
| Fair | 19x | $63.46 | -18% |
| Forward | 20x | $77.29 | — |
| Expensive | 23x | $78.24 | +1.2% |
| Current | 23x | $77.29 | — |
Historical ranges are pointers, not guarantees.
THO's PE is in its expensive range at 23x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its fair range.
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.
THO Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for THO, with profitability 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's earnings per share have fallen from their peak: $2.09 over the past year, against $3.82 in late 2021.
THO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.92 | +16% |
| Q3 2026 | $3.38 | -30% |
| Q2 2026 | $4.96 | +19% |
| Q1 2026 | $5.63 | +49% |
| Q4 2025 | $5.28 | +35% |
| Q3 2025 | $4.84 | -2% |
| Q2 2025 | $4.18 | -15% |
| Q1 2025 | $3.78 | -25% |
| Q4 2024 | $3.92 | -28% |
THO has the edge over NKE on earnings, with more consistent year-over-year improvement.
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 THO on profitability, with a higher operating margin.
THO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.3B | -8.4% |
| Q2 2026 | $2.8B | -3.9% |
| Q1 2026 | $2.1B | +5.3% |
| Q4 2025 | $2.4B | +11% |
| Q3 2025 | $2.5B | -0.4% |
| Q2 2025 | $2.9B | +3.3% |
| Q1 2025 | $2B | -8.6% |
| Q4 2024 | $2.1B | -14% |
THO has the edge over NKE on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.2% | -3.4 points |
| Q2 2026 | 4.8% | -0.6 points |
| Q1 2026 | 1% | +1.1 points |
| Q4 2025 | 1.4% | +1.4 points |
| Q3 2025 | 5.7% | +0.7 points |
| Q2 2025 | 5.4% | +0.3 points |
| Q1 2025 | -0.1% | -0.4 points |
| Q4 2024 | -0.1% | -2.9 points |
THO's operating margin was 2.2% last quarter, down 3.4 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 usually generates cash, though not every quarter: the latest was −$64M, but it generated $2.1B over the past year.
THO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $189.9M | -14% |
| Q2 2026 | $196M | -12% |
| Q1 2026 | -$145.2M | -2588% |
| Q4 2025 | -$74.8M | -1270% |
| Q3 2025 | $221.6M | -26% |
| Q2 2025 | $222.5M | -1.3% |
| Q1 2025 | $5.8M | +$146.1M |
| Q4 2024 | $6.4M | -67% |
THO still generates free cash flow, though less than at its 2023 peak: $166M over the past year.
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.
THO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +163K shares |
| 1 year | -1.6% | -838K shares |
| 3 years | -2.4% | -1.3M shares |
| 5 years | -5.6% | -3.1M shares |
| Available history | -4.8% | -2.7M shares |
THO has the edge over NKE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $34.3M |
| Q2 2026 | $50.5M |
| Q1 2026 | $25.2M |
| Q4 2025 | $5M |
| Q3 2025 | $50.9M |
| Q2 2025 | — |
| Q1 2025 | $1.7M |
| Q4 2024 | — |
THO spent $115M buying back its own shares over the past year, up 119% 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 has the edge over THO on leverage, with a lower net debt burden relative to earnings.
THO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.8x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.1x | Healthy |
THO's net debt is less than a year of its operating earnings (EBITDA).
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).
THO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 65.0 | Neutral |
THO's weekly RSI is 51 (neutral) and its Stochastic is 65 (neutral).
NKE PE vs Consumer Cyclical Sector
| Metric | NKE | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 2 | 47 | 45 pts below |
NKE has the edge over THO on valuation relative to its sector.
THO PE vs Consumer Cyclical Sector
| Metric | THO | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 18x | 27% above |
| PE % | 82 | 47 | 35 pts above |
THO is trading at 23x earnings, a 27% premium to the Consumer Cyclical sector's median of 18x.
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 bounced recently, but its long-term trend is still down: it's above its 8-week average, but 52% below its 200-week average.
THO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $72.0 | 7.3% above |
| 20 week MA | $74.3 | 4% above |
| 50 week MA | $84.6 | 8.7% below |
| 100 week MA | $89.2 | 13% below |
| 200 week MA | $94.8 | 19% below |
THO has the edge over NKE on trend strength, trading above more of its moving averages.
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 finished four years in a row lower, and it's down 38% so far in 2026.
THO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.4 | $102.4 | +38% |
| 2021 | $102.4 | $100.9 | -1.5% |
| 2022 | $100.9 | $77.3 | -23% |
| 2023 | $77.3 | $118.3 | +53% |
| 2024 | $118.3 | $95.4 | -19% |
| 2025 | $95.4 | $106.2 | +11% |
| 2026 YTD | $106.2 | $77.3 | -27% |
THO has the edge over NKE on returns for 2026, with the stronger performance.