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Nike stock analysis. Ticker: $NKE

Since reporting earnings last month, Nike stock has fallen 13% and its down 40% since its 2021 peak. At the latest price, the company has a market cap of 163 billion dollars and the enterprise value is roughly the same.

Revenue over the last 12 months is 51.5 billion, with 5.3 billion of net income and 4.5 billion of free cash flow. So the company is now valued at 31 times earnings and 36 times free cash flow.

Historically, Nike has been an excellent investment. Since its 1980 IPO the stock has generated total returns over 60,000%.

However, recent results have been mixed. Second quarter revenue increased by just half a percent year over year and North American sales fell by 4%.

But comparisons to last year don't tell the whole story. Revenue in the year ago quarter grew by 27%, so simply keeping sales at this level isn’t such a bad result. In addition, net income actually increased 19% thanks to robust pricing.

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