Nike, Inc.: FY4Q26 Review: The Only Way Out is Through

Research evidence excerpt

Nike, Inc.: FY4Q26 Review: The Only Way Out is Through

services) of Barclays Bank PLC and/or an

affiliate.

N: Nike, Inc. is, or during the past 12 months has been, a non-investment banking client (non-securities related services) of Barclays Bank PLC and/or

an affiliate.

Valuation Methodology: Our price target of $52 is based on an NTM P/E multiple of 25x applied to our CY28 EPS estimate of $2.08.

Risks which May Impede the Achievement of the Barclays Research Valuation and Price Target: Risks to the downside include: 1) softness in the

China market persists, 2) macro and geopolitical headwinds, 3) inability to maintain product innovation to drive growth, 4) demand uncertainty and

competitive landscape intensifies, and 5) reset actions take longer to materialize.

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