Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Nickel Industries's annualizedNet Income for the quarter that ended in Dec. 2025 was A$-206 Mil. Nickel Industries's average total tangible assets for the quarter that ended in Dec. 2025 was A$5,975 Mil. Therefore, Nickel Industries's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was -3.44%.
The historical rank and industry rank for Nickel Industries's Return-on-Tangible-Asset or its related term are showing as below:
ASX:NIC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.52 Med: 5.68 Max: 89.06
Current: -1.43
During the past 8 years, Nickel Industries's highest Return-on-Tangible-Asset was 89.06%. The lowest was -4.52%. And the median was 5.68%.
ASX:NIC's Return-on-Tangible-Asset is ranked better than 73.33% of 2670
companies
in the Metals & Mining industry
Industry Median: -17.365
vs ASX:NIC: -1.43
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Nickel Industries Return-on-Tangible-Asset Related Terms
Nickel Industries Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Nickel Industries's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Other Industrial Metals & Mining subindustry, Nickel Industries's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nickel Industries Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel Industries's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Nickel Industries's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of -3.44% mean?
Nickel Industries (ASX:NIC) has a Return-on-Tangible-Asset of -3.44% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Nickel Industries and its competitors. According to the industry distribution chart, Nickel Industries ranks #712 out of 2670 companies in the Metals & Mining industry, placing it in the top 26.7%.
Is Nickel Industries' Return-on-Tangible-Asset too high?
Nickel Industries' current Return-on-Tangible-Asset is -3.44%. Based on the distribution chart, Nickel Industries ranks #712 out of 2670 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Nickel Industries has a GF Score™ of 59/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nickel Industries' Return-on-Tangible-Asset compare to competitors?
According to the Metals & Mining industry distribution chart, Nickel Industries ranks #712 out of 2670 companies for Return-on-Tangible-Asset. This puts Nickel Industries in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Nickel Industries and its competitors. Nickel Industries's current Return-on-Tangible-Asset is -3.44%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nickel Industries stock overvalued right now?
Based on GuruFocus' analysis, Nickel Industries (ASX:NIC) is currently considered Modestly Overvalued. The stock's GF Value™ is A$0.71, compared to a current price of A$0.85 — trading 19.7% above its estimated fair value. The current Return-on-Tangible-Asset is -3.44%. Nickel Industries' overall GF Score™ is 59/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Nickel Industries (ASX:NIC), the current Return-on-Tangible-Asset is -3.44% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nickel Industries (ASX:NIC) Overvalued in 2026?
Based on GuruFocus' analysis, Nickel Industries stock appears to be overvalued.
The current stock price of A$0.85 is trading 19.7% above its estimated GF Value™ of A$0.71.
GuruFocus considers Nickel Industries to be Modestly Overvalued.
Key valuation signals for ASX:NIC:
Return-on-Tangible-Asset: -3.44%
GF Value™: A$0.71 vs. price of A$0.85 (19.7% above fair value)
No single metric tells the full story. See the ASX:NIC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nickel Industries Ltd is engaged in acquiring, exploring, and developing nickel projects. The group has three segments: nickel ore mining in Indonesia, the RKEF projects in Indonesia and Singapore, and the HPAL projects in Indonesia. Its principal operations, located in Indonesia, are the Hengjaya Nickel, Oracle Nickel, and RKEF projects located within the Indonesia Morowali Industrial Park (IMIP), the Angel Nickel RKEF Project within the Indonesia Weda Bay Industrial Park (IWIP), and the Hengjaya Mine, a large tonnage, high grade nickel laterite deposit in proximity to the IMIP.
59GF Score
Get the complete analysis for ASX:NIC
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:NIC has been successfully added to your 
