Nike Removed From S&P 100 After 18 Years

The apparel giant has exited the index of top U.S. companies as shares reflect a significant decline in valuation.

Updated on Sept. 21, 2026 in Stock Markets

Nike Removed From S&P 100 After 18 Years

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Nike has been removed from the S&P 100, marking the end of its 18-year tenure within the index that tracks 100 of the largest companies in the United States. This change follows a period of contraction for the firm, which has seen its share price drop significantly from its 2021 peak.

Why it matters

Index managers rebalance the S&P 100 to prioritize businesses demonstrating growth and stability, removing firms that no longer meet the threshold for market capitalization and financial health. This shift highlights how even long-standing market leaders can face exclusion when their valuations fall out of alignment with top-tier performance benchmarks.

Nike remained an S&P 100 member for 18 years before its recent removal. The company's share price has fallen to US$35.51 from its 2021 high of over US$170.

The players

Nike

A major global apparel company that designs and sells athletic footwear and clothing.

S&P 100

An index representing the top 100 large-cap companies in the United States used as a benchmark for equity performance.

The details

The S&P 100 periodically updates its list of members by selecting companies based on stringent market capitalization and financial performance criteria. When a company's market value declines, index providers often replace the business with emerging winners to ensure the index tracks the most representative large-cap firms in the United States. This mechanism forces the removal of companies that no longer sustain the size required for the top 100 cohort.

2021: Nike share price peaked at over US$170.
2026-09-21
Nike's exit from the S&P 100 was reported.

Money Landscape

The S&P 100 periodically updates its list of members to reflect the current landscape of large-cap corporate value. This removal follows the historical rebalancing cycle of the S&P 500 and S&P 100, which aims to ensure the index remains a true representation of the U.S. economy's largest firms.

For investors holding index funds that track the S&P 100, this change means their fund managers will automatically adjust holdings to remove the company. Individual investors should review their portfolio exposure to specific sectors and discuss any changes in strategy with a financial professional.

The takeaway

Market indices are fluid, and companies may be rotated out of top-tier benchmarks as their valuations and financial metrics change over time. Regularly review your brokerage statements or fund fact sheets to understand the current composition of any index-based investments you own.