What to do if company does not report depreciation?

There are few things you can do:

1. Quite often depreciation is announced separately from income statement, either in notes or somewhere in the text. So, you can search the word "depreciation" and may find the value.

2. For the fiscal year result announcement the depreciation figure might be missing. However, companies typically tell it afterwards in the official annual report. You can take the figure from there.

3. If you know the depreciation for full-year but not for quarters, you can divide the full-year figure by four, which allocates the depreciation equally to quarters. Even though the values are not fully right, it is "allowed" to make some own estimates; the historic EBIT figures will still be correct. Besides, it is often quite easy to estimate the quarter depreciation figures so you will probably not make big mistakes hereby.

4. We have also pumped into reports where depreciation is not told directly but in cash-flow statement there is "earnings before depreciation". With that you can calculate depreciation.

5. One last thing to do is just to leave depreciation fields blank. In some industries depreciation is not proportionally very big item, so it does not even harm much.