Nike Set to Lose S&P 100 Place as Stock Hits 12-Year Low

Nike's decline as a market leader continues to gain attention as it's set to lose its place in the S&P 100 index, effective September 21. The sportswear giant has seen its market value decline significantly over the years, with shares falling to their lowest level in roughly 12 years at $38.40 on September 4. This marks a 50% decrease from its 52-week high of $76.97 and a 39.3% drop this year alone.

Nike's removal from the S&P 100 highlights its shift in market position, with its revenue declining to $46.4 billion in fiscal 2026 from $51.2 billion in fiscal 2023. The company's operating margin has also fallen to 8.2% in fiscal 2026 from 15.6% in fiscal 2021.

The decline is attributed to several factors, including a prolonged growth slowdown and intensifying competition. Nike's performance in China has been particularly weak, with its business declining for eight consecutive quarters. The company is now focused on rebuilding demand through product innovation, brand strength, marketplace execution, and cost efficiency.