NKE
NIKE, Inc.
NKE's fundamentals are mixed, but it looks cheap: trading at 18x earnings, below its usual 33x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
TRNR
Interactive Strength Inc.
There isn't enough reported data to score TRNR yet.
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.
TRNR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Unavailable | |
| Unavailable |
TRNR's revenue is currently strong, but its profitability is weak. There isn't enough data to rate its cash flow and balance sheet.
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.
TRNR PE Valuation
TRNR 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.
TRNR Forward outlook
There aren't enough analyst estimates for TRNR to show an outlook.
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.
TRNR Earnings Per Share
TRNR and NKE do not have enough comparable growth data to identify a winner.
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 TRNR on profitability, with a higher operating margin.
TRNR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $6.6M | +445% |
| Q1 2026 | $5.1M | +279% |
| Q4 2025 | $4.1M | +74% |
| Q3 2025 | $4.8M | +139% |
| Q2 2025 | $1.2M | +96% |
| Q1 2025 | $1.4M | +274% |
| Q4 2024 | $2.4M | +1202% |
| Q3 2024 | $2M | +558% |
TRNR has the edge over NKE on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -51% | +427 points |
| Q1 2026 | -78% | +388 points |
| Q4 2025 | -41% | +132 points |
| Q3 2025 | -125% | +260 points |
| Q2 2025 | -478% | +792 points |
| Q1 2025 | -465% | +2135 points |
| Q4 2024 | -172% | +5979 points |
| Q3 2024 | -385% | +2908 points |
TRNR's operating margin was −51% last quarter, up 427 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% |
TRNR has the stronger cash trend. Its trailing FCF is up 20% versus its history, compared with NKE at down 52%.
TRNR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$3.3M | -$1.1M |
| Q1 2026 | -$2.7M | +$861K |
| Q3 2025 | -$2.4M | +$1.3M |
| Q2 2025 | -$2.2M | +$3K |
| Q1 2025 | -$3.5M | -$586K |
| Q4 2024 | -$5.9M | -$4M |
| Q3 2024 | -$3.7M | -$1.4M |
| Q2 2024 | -$2.2M | +$4.3M |
TRNR has burned cash in almost every quarter: −$11M over the past year, against −$15M 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 the edge over TRNR on shareholder dilution, with a more favorable share count trend.
| 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.
TRNR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +173% | +259K shares |
| 1 year | +7424% | +403K shares |
TRNR has 408,871 diluted shares, up 7424% from a year ago.
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).
TRNR Net Leverage
TRNR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
TRNR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.8 | Oversold |
| Stochastic | 5.2 | Oversold |
TRNR's weekly RSI is 28 (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.
TRNR PE vs Consumer Cyclical Sector
TRNR 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 stronger trend alignment. NKE is above 1 of 5 weekly averages versus TRNR above 0 of 4.
TRNR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.77 | 29% below |
| 20 week MA | $2.62 | 52% below |
| 50 week MA | $20.3 | 94% below |
| 100 week MA | $358.9 | 100% below |
TRNR is in a downtrend: it's below all four of its weekly moving averages, and 100% below its 100-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 TRNR on returns for 2026, with the stronger performance.
TRNR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $1,953.0 | $1,932.0 | -1.1% |
| 2025 | $1,932.0 | $100.1 | -95% |
| 2026 YTD | $100.1 | $1.26 | -99% |
TRNR has finished every year since 2024 lower, and it's down 99% so far in 2026.