Nike to Exit S&P 100 After 18 Years as Stock Suffers Major Decline

Nike is losing its place in the S&P 100, ending an 18-year run in the index as the sportswear giant continues to struggle with a prolonged decline in its stock price.

S&P Dow Jones Indices announced that Nike will be removed from the S&P 100 effective September 21, 2026. The company will be replaced as the index undergoes its latest quarterly reshuffling.

Nike shares have fallen sharply from their 2021 record levels, reflecting years of challenges including weaker sales growth, changing consumer preferences and difficulties with the company’s turnaround strategy.

The stock closed at $38.40 on September 4, 2026, far below its previous highs. Some market reports have described the decline from Nike’s 2021 peak as roughly 79%, highlighting just how dramatically the company’s market value has fallen from its pandemic-era highs.

Nike’s removal is part of a broader reshuffling of the S&P 100. Palo Alto Networks, Arista Networks, Dell Technologies and SanDisk are among the companies being added, reflecting the growing influence of technology companies within the index. Nike, Colgate-Palmolive and Honeywell Aerospace are among those being removed.

The change does not mean Nike is leaving the S&P 500. It remains a major publicly traded company and continues to be included in the broader S&P 500 index.

The index change is another reminder of the difficult period Nike has faced. The company generated $46.4 billion in revenue in fiscal 2026, but sales still declined when adjusted for currency movements, showing that the company’s recovery remains a work in progress.

Nike has been attempting to rebuild its business under CEO Elliott Hill, with the company focused on restoring relationships with retailers, strengthening its product pipeline and returning to sustainable growth.

For investors, the S&P 100 exit is more than an index change. It is another sign of how far one of the world’s most recognizable sports brands has fallen from its previous market dominance.