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Side-by-side financial comparison of Nike, Inc. (NKE) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Nike, Inc. is the larger business by last-quarter revenue ($12.4B vs $6.3B, roughly 2.0× Block, Inc.). Nike, Inc. runs the higher net margin — 6.4% vs 1.9%, a 4.5% gap on every dollar of revenue. On growth, Block, Inc. posted the faster year-over-year revenue change (3.6% vs 0.6%). Block, Inc. produced more free cash flow last quarter ($579.8M vs $386.0M). Over the past eight quarters, Block, Inc.'s revenue compounded faster (2.4% CAGR vs -0.0%).
Nike often refers to:Nike, Inc., a major American producer of athletic shoes, apparel, and sports equipment Nike (mythology), a Greek goddess who personifies victory
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
NKE vs XYZ — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.4B | $6.3B |
| Net Profit | $792.0M | $115.8M |
| Gross Margin | 40.6% | 45.9% |
| Operating Margin | — | 7.8% |
| Net Margin | 6.4% | 1.9% |
| Revenue YoY | 0.6% | 3.6% |
| Net Profit YoY | -31.9% | -94.1% |
| EPS (diluted) | $0.53 | $0.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.4B | $6.3B | ||
| Q3 25 | $11.7B | $6.1B | ||
| Q2 25 | $11.1B | $6.1B | ||
| Q1 25 | $11.3B | $5.8B | ||
| Q4 24 | $12.4B | $6.0B | ||
| Q3 24 | $11.6B | $6.0B | ||
| Q2 24 | $12.6B | $6.2B | ||
| Q1 24 | $12.4B | $6.0B |
| Q4 25 | $792.0M | $115.8M | ||
| Q3 25 | $727.0M | $461.5M | ||
| Q2 25 | $211.0M | $538.5M | ||
| Q1 25 | $794.0M | $189.9M | ||
| Q4 24 | $1.2B | $1.9B | ||
| Q3 24 | $1.1B | $283.8M | ||
| Q2 24 | $1.5B | $195.3M | ||
| Q1 24 | $1.2B | $472.0M |
| Q4 25 | 40.6% | 45.9% | ||
| Q3 25 | 42.2% | 43.5% | ||
| Q2 25 | 40.3% | 41.9% | ||
| Q1 25 | 41.5% | 39.7% | ||
| Q4 24 | 43.6% | 38.3% | ||
| Q3 24 | 45.4% | 37.6% | ||
| Q2 24 | 44.7% | 36.3% | ||
| Q1 24 | 44.8% | 35.2% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | 2.9% | 8.0% | ||
| Q1 25 | 7.5% | 5.7% | ||
| Q4 24 | 11.5% | 0.2% | ||
| Q3 24 | 11.3% | 5.4% | ||
| Q2 24 | 13.7% | 5.0% | ||
| Q1 24 | 11.3% | 4.2% |
| Q4 25 | 6.4% | 1.9% | ||
| Q3 25 | 6.2% | 7.5% | ||
| Q2 25 | 1.9% | 8.9% | ||
| Q1 25 | 7.0% | 3.3% | ||
| Q4 24 | 9.4% | 32.3% | ||
| Q3 24 | 9.1% | 4.7% | ||
| Q2 24 | 11.9% | 3.2% | ||
| Q1 24 | 9.4% | 7.9% |
| Q4 25 | $0.53 | $0.19 | ||
| Q3 25 | $0.49 | $0.74 | ||
| Q2 25 | $0.14 | $0.87 | ||
| Q1 25 | $0.54 | $0.30 | ||
| Q4 24 | $0.78 | $3.06 | ||
| Q3 24 | $0.70 | $0.45 | ||
| Q2 24 | $0.99 | $0.31 | ||
| Q1 24 | $0.77 | $0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.0B | $6.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.1B | $22.2B |
| Total Assets | $37.8B | $39.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.0B | $6.6B | ||
| Q3 25 | $7.0B | $8.3B | ||
| Q2 25 | $7.5B | $6.4B | ||
| Q1 25 | $8.6B | $7.1B | ||
| Q4 24 | $8.0B | $8.1B | ||
| Q3 24 | $8.5B | $8.3B | ||
| Q2 24 | $9.9B | $7.8B | ||
| Q1 24 | $9.0B | $5.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | $8.0B | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | $8.9B | $6.1B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $14.1B | $22.2B | ||
| Q3 25 | $13.5B | $22.5B | ||
| Q2 25 | $13.2B | $22.2B | ||
| Q1 25 | $14.0B | $21.5B | ||
| Q4 24 | $14.0B | $21.3B | ||
| Q3 24 | $13.9B | $19.9B | ||
| Q2 24 | $14.4B | $19.3B | ||
| Q1 24 | $14.2B | $19.0B |
| Q4 25 | $37.8B | $39.5B | ||
| Q3 25 | $37.3B | $39.2B | ||
| Q2 25 | $36.6B | $36.9B | ||
| Q1 25 | $37.8B | $36.4B | ||
| Q4 24 | $38.0B | $36.8B | ||
| Q3 24 | $37.9B | $36.4B | ||
| Q2 24 | $38.1B | $37.5B | ||
| Q1 24 | $37.4B | $35.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | 0.60× | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | 0.62× | 0.32× | ||
| Q1 24 | — | 0.22× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $579.0M | $621.0M |
| Free Cash FlowOCF − Capex | $386.0M | $579.8M |
| FCF MarginFCF / Revenue | 3.1% | 9.3% |
| Capex IntensityCapex / Revenue | 1.6% | 0.7% |
| Cash ConversionOCF / Net Profit | 0.73× | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $579.0M | $621.0M | ||
| Q3 25 | $222.0M | $1.5B | ||
| Q2 25 | $463.0M | $374.3M | ||
| Q1 25 | $1.8B | $133.3M | ||
| Q4 24 | $1.0B | $13.8M | ||
| Q3 24 | $394.0M | $684.8M | ||
| Q2 24 | $2.6B | $519.4M | ||
| Q1 24 | $2.1B | $489.4M |
| Q4 25 | $386.0M | $579.8M | ||
| Q3 25 | $15.0M | $1.4B | ||
| Q2 25 | $363.0M | $343.0M | ||
| Q1 25 | $1.7B | $101.5M | ||
| Q4 24 | $920.0M | $-13.2M | ||
| Q3 24 | $274.0M | $628.2M | ||
| Q2 24 | $2.4B | $481.0M | ||
| Q1 24 | $1.9B | $457.4M |
| Q4 25 | 3.1% | 9.3% | ||
| Q3 25 | 0.1% | 22.9% | ||
| Q2 25 | 3.3% | 5.7% | ||
| Q1 25 | 15.2% | 1.8% | ||
| Q4 24 | 7.4% | -0.2% | ||
| Q3 24 | 2.4% | 10.5% | ||
| Q2 24 | 19.1% | 7.8% | ||
| Q1 24 | 15.4% | 7.7% |
| Q4 25 | 1.6% | 0.7% | ||
| Q3 25 | 1.8% | 0.8% | ||
| Q2 25 | 0.9% | 0.5% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 1.0% | 0.4% | ||
| Q3 24 | 1.0% | 0.9% | ||
| Q2 24 | 1.7% | 0.6% | ||
| Q1 24 | 1.1% | 0.5% |
| Q4 25 | 0.73× | 5.36× | ||
| Q3 25 | 0.31× | 3.14× | ||
| Q2 25 | 2.19× | 0.70× | ||
| Q1 25 | 2.26× | 0.70× | ||
| Q4 24 | 0.90× | 0.01× | ||
| Q3 24 | 0.37× | 2.41× | ||
| Q2 24 | 1.75× | 2.66× | ||
| Q1 24 | 1.76× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NKE
| Footwear | $7.7B | 62% |
| Apparel | $3.9B | 31% |
| Sporting Equipment | $550.0M | 4% |
| Converse Segment | $300.0M | 2% |
| Sales Channel Other | $9.0M | 0% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
