Nike Stock Q2: It Depends On How Much Patience You Have


Nike Posts Quarterly Earnings That Surpassed Investor

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Investment Thesis

Last time I talked about Nike Inc (NYSE:NKE) back in October 2023, I talked about the company’s first quarter performance and how the company has found its mojo in China. I also highlighted


FY24 Projections



$51.7 billion

Company estimates along with author’s projections

Gross Margins


Company Estimates

Total Gross Profit for FY23

$23.21 billion

= 44.9% of $54 billion

SG&A Expenses

$17.2 billion

Company estimates along with author’s projections

Other Expenses

$300 million

Mid-point of Company’s Estimates

Tax Rate


Company estimates

Total Net Income

$4.7 billion

= (1-0.182) x ($24.25 billion – $17.4 billion – $0.250 billion)

Number of Shares Outstanding

1.20 billion

Source: Refinitiv

Projected FY24 EPS


Projected Forward P/E


Source: Refinitiv

Forward PEG ratio


Source: Refinitiv

Projected FY25 EPS


Target Price


= 28.5 x $4.54

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