Nike Dropped from S&P 100 Index Amid $220B Market Value Plunge
Nike's market value has plummeted by $220-230 billion since its peak in November 2021, prompting Standard & Poor's (S&P) to remove the company from the S&P 100 index before the US open on September 21, 2026. However, Nike will remain a member of the S&P 500.
The decision was made as part of the quarterly rebalance dated September 4, with Nike closing that session at $38.40, its lowest level in about 12 years. The company's shares are not being delisted from the New York Stock Exchange (NYSE).
Nike has been a member of the S&P 100 for nearly 18 years, but its removal is due to weaker results over the past few years. In fiscal year 2026, Nike reported revenue of $46.4 billion, down about 2% on a constant-currency basis, and net income was around $3.1 billion, down about 3%. Greater China revenue fell 11%, to about $5.85 billion.
Other companies leaving the S&P 100 include Colgate-Palmolive, Honeywell Aerospace, and Simon Property Group, while Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk will enter the index.