Nike (NKE) reported D&A of $185M in Q4 2025.

How has Nike's D&A changed year-over-year?

Nike's D&A decreased by 6.6% year-over-year, from $198M to $185M.

What is the long-term trend for Nike's D&A?

Over 2 years (2023 to 2025), Nike's D&A has grown at a 5.0% compound annual growth rate (CAGR), from $703M to $775M.

Non-cash expense representing the systematic allocation of tangible asset costs (depreciation) and intangible asset costs (amortization) over their useful lives.

Nike NKE D&A

D&A at other companies

V.F. CorporationVFC

$67.48M-7.7%

Deckers Outdoor CorporationDECK

$18.63M+1.0%

CrocsCROX

$20.24M+9.2%

lululemon athleticaLULU

$1.88M+15.6%

GOL

Acushnet HoldingsGOLF

$2.25M-35.8%

Kohl'sKSS

$174M-0.6%

Segments

By segment

See full

NIKE Brand$156M-4.9%

Converse$2M-33.3%

Other financials

Income statement

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Revenue$11.3B+0.1%

Gross profit$4.5B-3.1%

Net income$520.0M-34.5%

EPS (diluted)$0.35-35.2%

Balance sheet

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Cash & equivalents$1.7B-80.3%

Total debt$10.2B-6.7%

Total equity$14.1B+0.6%

Total assets$37.1B-1.9%

Cash flow

See full

Operating cash flow$430.0M-76.0%

CapEx$146.0M+80.2%

Free cash flow$284.0M-83.4%

Valuation

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Market cap$60.57B-31.4%

Enterprise value$69.05B-29.6%

P/E26.9×-0.5×

P/S1.3×-0.6×

Profitability

See full

Gross margin40.8%-3.0pp

Net margin4.8%-4.6pp

FCF margin2.3%-8.9pp

Returns & leverage

See full

Return on equity16%-15.9pp

Debt / equity0.7×-0.1×

Current ratio2.1×-0.1×

Where this comes from

Reported directly by Nike in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The official record: Nike’s 10-Q, filed April 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nike's D&A?: Nike (NKE) reported D&A of $185M in Q4 2025.
How has Nike's D&A changed year-over-year?: Nike's D&A decreased by 6.6% year-over-year, from $198M to $185M.
What is the long-term trend for Nike's D&A?: Over 2 years (2023 to 2025), Nike's D&A has grown at a 5.0% compound annual growth rate (CAGR), from $703M to $775M.
What does D&A mean?: Non-cash expense representing the systematic allocation of tangible asset costs (depreciation) and intangible asset costs (amortization) over their useful lives.