In Q3'26, Nike's Gross Margin stands at 40.2%, Operating Margin at 4.9%, and Net Profit Margin at 4.6%, reflecting a modest recovery in gross profitability but ongoing pressure on net margins amid broader operational challenges. Over the period from Q4'23 to Q3'26, Gross Margin exhibited an initial upward trend, peaking at 45.4% in Q1'25 before declining sharply to 40.1% by Q3'26, indicating rising costs or pricing pressures; Operating Margin showed volatility, rising to 13.6% in Q2'24 then plummeting to a low of 2.9% in Q4'25, with a partial rebound to 8.1% in Q2'26; Net Profit Margin followed a similar pattern, reaching 11.9% in Q4'24 before dropping to 1.9% in Q4'25 and stabilizing around 4.6% in Q3'26, underscoring persistent profitability erosion despite intermittent improvements.