Updated
The most significant concentration Nike discloses is top four footwear contract manufacturers at 59%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Nike’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1: 'four footwear contract manufacturers each accounted for greater than 10% of footwear production and in the aggregate accounted for approximately 59% of NIKE Brand footwear production'”
“10-K Item 1: 'factories in Vietnam, Indonesia and China manufactured approximately 51%, 28% and 17% of total NIKE Brand footwear, respectively.'”
“10-K Item 1: 'the top five contract manufacturers in the aggregate accounted for approximately 51% of NIKE Brand apparel production'”
“10-K Item 1: 'NIKE Brand and Converse sales in the United States accounted for approximately 43% of total revenues'”
Nike's concentration risk sits almost entirely on the production side, and it is dense: three separate high-share, dependency-type exposures run through its footwear and apparel supply chain. Four footwear contract manufacturers together accounted for approximately 59% of footwear production, factories in Vietnam manufactured approximately 51% of total NIKE Brand footwear (with Indonesia at 28% and China at 17%), and the top five apparel contract manufacturers in aggregate accounted for approximately 51% of apparel production. These are counterparty- and country-specific risks: a labor disruption, tariff action, or capacity problem at any one of these manufacturers, or in Vietnam specifically, could disproportionately affect output, since alternate capacity at this scale is not readily interchangeable. By contrast, the one demand-side exposure is more moderate: United States sales of the NIKE Brand and Converse accounted for approximately 43% of total revenues, a medium-share, structural exposure that reflects the size of Nike's largest market rather than a counterparty relationship. Netting these together, the supply chain concentration — spanning both manufacturer and country risk — is the more idiosyncratic and potentially market-moving exposure, while the U.S. revenue share is a structural feature of a global consumer brand's largest market.
For the engine’s reasoning on NKE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| NKE● | Nike, Inc. | 3 | 1 | 0 | 4 |
| SHOO | Steven Madden, Ltd. | 2 | 1 | 0 | 3 |
| DECK | Deckers Outdoor Corporation | 1 | 1 | 0 | 2 |
| CROX | Crocs, Inc. | 0 | 3 | 0 | 3 |
| WEYS | Weyco Group, Inc. | 0 | 0 | 0 | 0 |
| WWW | Wolverine World Wide, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.