耐克在峰值时交易价格约为每股 180 美元，自那以后一直在下跌。
Nike traded up to around $180 per share on its peak and ever since then it's been tumbling down this mountain.
下一个扭转操作是耐克。现在，这个像 Adobe 一样下跌了很多，因为耐克的收入多年来一直在攀升，现在却在下降。收入实际上在过去几年中下降了。公司的息税前利润在下降，净利润在下降，自由现金流在下降。
The next turnaround play we get to is Nike. Now, this one like Adobe's down big for Nike's revenue was climbing for years and then now it's decreasing. The revenue's actually declined over the past couple of years. The EBIT of the company's in a decline, the net income of the company's in a decline, the free cash flow of the company's in a decline.
现在，你可能会看这家公司说：“嗯，耐克不是一只好股票，因为数字在下降。它处于衰退中，而且它的估值仍然相对充分。它的交易价格是 24 倍远期市盈率，3.6% 的自由现金流收益率。”
Now, you may look at this company and say, "Well, Nike's not a great stock because the numbers are going down. It's in decline and it still trades at a relatively full valuation. It's trading at a 24 forward PE ratio, a 3.6% free cash flow yield."