NIKE Inc. (NKE) has been on a growth trajectory, backed by its strong market share and popular brands. However, the current forward 12-month price-to-sales (P/S) multiple of 2.28X raises concerns about whether the stock's valuation is justified. This multiple is significantly higher than the Zacks Shoes and Retail Apparel industry average of 2.18X, making the stock seem relatively expensive.At 2.28X P/S, the Swoosh brand owner is trading at a much higher valuation than its competitors. Its competitors, such ...