Nickel Industries (ASX:NIC) 2025 results were positive and continue to show the fundamental strength and profitability of the company's business model, according to a Friday report by Bell Potter.
The company reported 2025 revenue of $1.65 billion and adjusted earnings before interest, taxes, depreciation, and amortization of $283 million, which met expectations of $1.6 billion and $278 million, respectively, Bell Potter said.
However, the company also reported a loss for the year of $0.0132 per share, which missed expectations due to higher depreciation and amortization charges, taxes, financing costs, and an impairment, Bell Potter added.
Bell Potter believes that the company has potential for significant earnings growth and expansion in 2026, leading to a return to dividend distributions.
The firm retained its buy rating for the company but raised its price target to AU$1.45 from AU$1.30.