Nike, Inc. was incorporated in 1967 under the laws of the State of Oregon. The company's principal business activities are the design, development, and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories, and services. The company is the world's largest seller of athletic footwear and athletic apparel. The company sells its products to retail customers through Nike-owned retail stores and Internet websites, as well as through independent distributors and licensees worldwide. Virtually all of the company's products are manufactured by independent contractors. Almost all footwear and apparel products are produced outside the United States, while equipment products are produced both in the United States and abroad.
NKE exhibits clear bearish technical characteristics with oversold conditions suggesting potential for a bounce but overall negative trend structure.
Nike's valuation metrics appear elevated relative to financial performance with P/E (TTM) of 34.83x, forward P/E of 28.79x, P/B of 6.24x, and P/S of 3.60x, suggesting overvaluation by 10-15% based on current fundamentals.
