Observed Signal · Jul 15, 2026 · earnings · Source: SEC API · Impact: 4.5/5
10-K Financial Filing Analysis for Nike
NIKE, Inc. filed its Annual Report on Form 10-K for the fiscal year ended May 31, 2026, outlining its global operational structure, financial positioning, and multi-channel distribution model across the NIKE, Jordan, and Converse brands. For fiscal 2026, the United States accounted for approximately 44% of total revenues, while international operations represented 56%, supported by an expansive global network of 988 company-operated retail stores (347 domestic, 641 international) and 73 distribution hubs worldwide. The filing highlights ongoing strategic execution centered on sport performance innovation, direct-to-consumer digital acceleration, and wholesale channel management amid persistent global macroeconomic headwinds, trade protectionism, and foreign exchange volatility. In addition, the company noted key executive leadership arrangements, including the ongoing tenure of CEO Elliott Hill and the planned advisory transition and departure of EVP and CFO Matthew Friend scheduled for late summer 2026.
As an annual 10-K filing from the global athletic apparel and footwear leader, it provides vital baseline disclosure on geographic revenue concentration, supply chain diversification across Southeast Asia, and direct-to-consumer retail commitments.
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Key Takeaways & Evidence Grounding
- Revenue distribution for fiscal 2026 comprised 44% from the United States and 56% from non-U.S. operations, with the three largest domestic customers generating 29% of U.S. sales.
- The global manufacturing footprint relied on contract manufacturers operating 95 finished goods footwear factories across 11 countries (Vietnam 52%, Indonesia 27%, China 16%) and 321 apparel factories across 34 countries (Vietnam 34%, Cambodia 15%, China 12%).
- As of July 8, 2026, total common stock outstanding was 1,483,498,703 shares (281,387,752 Class A and 1,202,110,951 Class B), with an aggregate non-affiliate market value of $80.53 billion as of November 28, 2025.
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