The share market operator, ASX Ltd (ASX: ASX), recently put out a trading update, in which it said that first-half revenue was up 11.2% to $602.8 million and net profit was expected to grow by more than 8%.

Costs, however, were also expected to be up, growing by an estimated 13% to 15% for the full financial year, or 20% to 23% once costs associated with an ASIC inquiry into the company were factored in.

The company said this regarding their costs:

A key driver for the increase in total expenses has been our decision to make further upgrades to the capacity and capability of resources to uplift risk management and modernise and support our major technology platforms. This reassessment of our investment requirements for key strategic priorities was informed by findings from the Inquiry Panel’s report.

The ASX said slower uptake of e-statements at a time of high trading volumes also contributed to the increase in expense guidance.

On the profit front, the ASX said its unaudited underlying net profit was up 3.9% to $263.6 million, and net profit was up 8.3% to the same figure.

Shares looking fully priced

So what does this all mean for investors? The team at Jarden have run the ruler over the results and believes there is still some modest upside to be had.

They have a target price of $58 for ASX shares, compared with $57.47 at the close on Thursday, after the shares increased sharply following the market update on Wednesday.

The Jarden team said there are still some questions to be answered around costs, however.

With ASX announcing its second update to total cost guidance since Jun-25, it is increasingly difficult to gain comfort over the medium-term cost trajectory. Whilst positive revenue drivers translated more strongly than expected to top line and helped offset cost escalation pressures, with ASIC Chairman, Joe Longo, commenting that ‘ tangible progress’ at ASX was a top priority, we see scope for FY27 costs to take a further step up following the release of the final ASIC Inquiry report (due by 31 March, 2026).

The Jarden team said that despite an attractive valuation from a P/E point of view, the company would have a lot to juggle in terms of “large-scale technology execution, risk management uplift and shareholder returns” over the coming period.

While Jarden’s price target does envisage modest upside, the broker has a neutral rating on the shares, “given risks are skewed to downside”.

ASX was valued at $11.16 billion at the close of trade on Thursday.

The post Are ASX Ltd shares a buy, sell or hold after their recent update? appeared first on The Motley Fool Australia.

More reading

• ASX Limited shares keep getting cheaper, but the market still isn’t convinced
• ASX Ltd 1H26 earnings: revenue rises, expenses guidance upgraded

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Nickel Industries Ltd (ASX: NIC) share price is in focus today after the company announced the completion of Sphere’s 10% acquisition in the ENC project, valuing the project at US$2.4 billion, and a streamlined deal to become ENC’s largest shareholder.

What did Nickel Industries report?

• Sphere acquires a 10% interest in the ENC project at a US$2.4 billion valuation
• Nickel Industries to increase ENC holding from 44% to 46%, becoming the largest shareholder
• The final US$46 million payment for an extra 2% stake replaces US$253 million previously scheduled, reducing future cash outflows
• Secured an exclusive 15-year, 14 million wmt/year limonite ore supply MOU for the Sampala Project
• Nickel Industries provides credit support to Sphere’s US$210 million acquisition loan

What else do investors need to know?

Nickel Industries’ agreement with Shanghai Decent not only builds its stake in ENC, but also consolidates its leadership in the project, reducing payment uncertainty and bolstering its balance sheet. The restructuring slashes expected ENC payment obligations by US$207 million while capping future outflows, giving investors more clarity.

By backing Sphere’s loan for its ENC stake, Nickel Industries also secures priority rights over those shares, should Sphere ever default. This protects NIC’s long-term strategic position and could even allow it to acquire more of ENC on favourable terms in such a scenario.

What did Nickel Industries management say?

Managing Director Justin Werner said:

We are pleased to welcome Sphere as a strategic partner in ENC. Sphere’s position as a key accredited supplier to SpaceX underscores the importance of quality, traceability and reliability in advanced and high‑performance end‑markets, and its decision to invest in ENC is a strong endorsement of the project and the quality of ENC’s nickel cathode.

The reduced ENC acquisition percentage reduces payment obligations to our largest shareholder, reinforcing the strength of our balance sheet and enhances the Company’s financial flexibility.

Finally, the exclusive 15 year, 14 million wmt per annum ore supply MOU reinforces the value of the Sampala Project. Consistent with our integrated business model, the ore supply MOU positions the Company well for any future downstream growth opportunities.

What’s next for Nickel Industries?

As ENC nears commissioning, Nickel Industries aims to further its transition into battery-grade nickel and cobalt products used in electric vehicles. The Sampala ore supply MOU, with its innovative transport solution, could unlock extra value and efficiency in supply to the adjacent HPAL project.

The reduced acquisition costs and enhanced ownership position should also help Nickel Industries manage funding more effectively, strengthening its growth platform as it targets downstream opportunities beyond stainless steel.

Nickel Industries share price snapshot

Over the past 12 months, Nickel Industries shares have risen 24%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

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The post Nickel Industries cements leadership in ENC, welcomes Sphere as strategic partner appeared first on The Motley Fool Australia.

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• Emerald Resources delivers strong December quarter with growth across Australia and Cambodia
• Atlas Arteria shares: Q4 2025 toll revenue jumps 9.5%
• Elders FY25 earnings: resilient profit and strategic growth
• Resmed posts Q2 FY26 earnings growth, lifts dividend

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Emerald Resources (ASX: EMR) share price is in focus today after the company reported a solid December 2025 quarter, with Okvau Gold Mine delivering 25,030 ounces of gold and operating cash flow of A$87 million.

What did Emerald Resources report?

• Gold production at Okvau Gold Mine reached 25,030 ounces for the December quarter, up from 22,035 ounces in the previous quarter.
• All-In Sustaining Cost (AISC) decreased to US$1,032 per ounce, a marked improvement from US$1,186 per ounce last quarter.
• Quarterly gold sales were 20,410 ounces at an average price of US$4,118 per ounce.
• Pre-tax operating cash flow of A$87 million was generated from Okvau operations, near the company’s financial performance record.
• Group cash, bullion, and listed investments totalled A$372.7 million at 31 December 2025.
• Production and cost guidance for FY26 maintained: 105,000–120,000 ounces at life-of-mine AISC of US$966 per ounce.

What else do investors need to know?

Emerald continues to progress its growth strategy, with updated mineral resource estimates at both the Dingo Range Gold Project in Western Australia (1.41 million ounces at 1.1g/t Au) and Memot Gold Project in Cambodia (1.70 million ounces at 1.2g/t Au). Development approvals for both projects have advanced, including full permitting at Memot and near-complete approvals for Dingo Range.

The December quarter saw robust exploration activity: highlight intersections were reported at several prospects, including Freeman’s Find and the Stables Prospect in WA, along with Granite Hill near Okvau in Cambodia. Notably, the company remains committed to strong ESG practices, progressing community and environmental initiatives such as extensive tree planting and biodiversity monitoring in Cambodia.

What did Emerald Resources management say?

Managing Director Morgan Hart said:

Our teams continue to deliver safe, reliable production at Okvau and grow the company’s resource base with disciplined exploration and development. The updated resources at Dingo Range and Memot position Emerald for our next phase of Australian and Cambodian gold growth.

What’s next for Emerald Resources?

Looking ahead, Emerald plans to release maiden ore reserves for both the Dingo Range and Memot projects, which will underpin final development studies and schedules. Ongoing drilling campaigns at multiple prospects are set to drive further resource upgrades and potentially unlock new mining areas.

The company is maintaining production and cost guidance for FY26, with steady Okvau output expected to support further growth and investment. Near-term milestones include project approvals at Dingo Range and follow-up drilling and development progress across both Cambodia and Australia.

Emerald Resources share price snapshot

Over the past 12 months, Emerald Resources shares have risen 97%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

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The post Emerald Resources delivers strong December quarter with growth across Australia and Cambodia appeared first on The Motley Fool Australia.

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• IperionX ramps up titanium production, secures US government support
• Nickel Industries cements leadership in ENC, welcomes Sphere as strategic partner
• Atlas Arteria shares: Q4 2025 toll revenue jumps 9.5%
• Elders FY25 earnings: resilient profit and strategic growth
• Resmed posts Q2 FY26 earnings growth, lifts dividend

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

With Commonwealth Bank of Australia (ASX: CBA) shares regarded as overvalued by many analysts, investors may be better off looking at other ASX financial stocks. But which one?

Bell Potter thinks Perpetual Ltd (ASX: PPT) could be worth a closer look, even after a softer quarter for the asset manager.

What is the broker saying about this ASX financial stock?

Bell Potter described the second quarter as underwhelming, driven by fund outflows in its Asset Management division and limited progress on the sale of its Wealth Management business. The broker said:

Overall this was an underwhelming quarter with lower AUM down 2% and limited progress on the sale of Wealth Management (WM). In Asset Management, AUM was A$227.5b vs A$232.0b at end of Q1. Outflows were A$7.8b or 3.4% of opening, with outflows concentrated at Barrow Hanley and TSW, (3.7% and 11.2% of opening values respectively).

Market and other movements were +A$5.4b or 2.3% of opening while FX moves were -A$2.1b (or 0.9% as the US$ weakened over the quarter. Performance fees are expected to be A$10m in H1.

But it wasn’t all bad news. Bell Potter noted that parts of the business continued to grow, particularly within Corporate Trust:

Wealth Management Funds under Advice were flat at A$21.9b. Corporate Trust saw Funds under Administration grow 2.1% over the quarter to A$1.3trn, with Debt Market services up 2.8% and Managed Funds up 1%.

Costs remain under control

Bell Potter also highlighted that cost control remains a positive for the ASX financial stock, with currency movements helping keep expenses toward the lower end of guidance. The broker said:

FY26 costs are tracking at the lower end of the 2-3% guidance, helped by currency moves. The first half should be better than guidance. Significant items are expected to be between A$54-63m after tax, with no impairments. Excluding impairments, this level is slightly below the average of the last few half years.

Why Bell Potter is still a buyer

While Bell Potter trimmed its price target following forecast downgrades, it remains positive on Perpetual’s valuation and longer-term strategy. The broker explained:

We remain positive on PPT, given what we consider an undemanding valuation. The drawn-out sale process for WM is disappointing, and we would like to see WM sold, debt reduced and management focused on delivering efficient and profitable growth.

We agree with the new CEO’s strategy to take the initiative and find new strategies to add to existing platforms, and the inflows seen in the Perpetual Diversified Income Active ETF are encouraging.

According to the note, the broker has retained its buy rating on the ASX financial stock with a trimmed price target of $22.80 (from $25.00). Based on its current share price of $18.99, this implies potential upside of 20% for investors over the next 12 months.

In addition, Bell Potter is forecasting a generous 6.3% dividend yield in FY 2026, which boosts the total potential return to approximately 26%.

The post Forget CBA shares and buy this ASX financial stock appeared first on The Motley Fool Australia.

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• Should I sell my CBA shares in 2026?
• Forget CBA shares: I’m buying shares in another Aussie bank

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Atlas Arteria Ltd (ASX: ALX) share price is in focus today after the company reported Q4 2025 proportionate toll revenue up 9.5% on last year, with full-year revenue also climbing 9.4% thanks to steady traffic and higher tolls across key assets.

What did Atlas Arteria report?

• Q4 2025 proportionate toll revenue rose 9.5% compared to Q4 2024
• Full-year 2025 proportionate toll revenue increased 9.4% year-on-year
• APRR quarterly revenue up 1.5%, annual revenue up 2.8% (EUR terms)
• Chicago Skyway quarterly toll revenue up 10%, annual up 6.2% (USD terms)
• Traffic rose on Dulles Greenway (Q4 up 4.8%; year up 8.2%), and A79 (Q4 up 7.5%; year up 10.5%)
• Warnow Tunnel traffic fell 9.8% in Q4, revenue down 5.6% (EUR terms)

What else do investors need to know?

Steady economic conditions in France and a recovery in cross-border work permits to Geneva helped drive light vehicle traffic on major French assets. The company noted robust commuter flows, with Swiss permits up 2.9% for Geneva in the September quarter.

In the US, Chicago Skyway saw a bounce-back in both light and heavy vehicle usage after the prior period’s roadworks and tariff announcements. Dulles Greenway overcame disruptions from a six-week US federal government shutdown, returning to pre-shutdown traffic growth.

Toll revenue growth benefited from toll price increases across most businesses as well as favourable foreign exchange movements. On a constant currency basis, proportionate toll revenue grew around 2.2% for Q4 and 3.0% for the full year.

What’s next for Atlas Arteria?

Atlas Arteria continues to focus on disciplined management of its international toll road assets, with plans to leverage network upgrades, pricing, and customer service enhancements. The business emphasises operational efficiency and sustainable practices across its European and North American assets.

Looking ahead, the company aims to drive value by responding to regional traffic patterns, optimising toll structures, and adapting to changing commuter needs, including ongoing infrastructure maintenance and upgrades.

Atlas Arteria share price snapshot

Over the past 12 months, Altas Arteria shares have declined 1%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Atlas Arteria shares: Q4 2025 toll revenue jumps 9.5% appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The war between Australian supermarket giants Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL) doesn’t stop on the shelves; it extends into the sharemarket too. Shares of both retailers are neck and neck this year, but who comes out on top when it comes to the outlook for the remainder of 2026?

What’s the outlook for Woolworths shares this year?

At the close of the ASX on Thursday afternoon, Woolworths shares were up 0.59% to $30.59 a piece. For the year to date, the retailer’s shares are up 3.94% and the stock is now 0.26% above trading levels this time last year.

The supermarket giant’s shares crashed nearly 20% in August last year after it posted a disappointing FY25 result. The stock dropped to an all-time low of $25.91 a piece in mid-October but was saved from any further decline after the company posted a more positive first-quarter sales update.

The business is well established and one of the largest in Australia, and this dominance maintains its competitive position in the retail space.

Analysts are divided about Woolworths shares right now. TradingView data shows that 7 out of 17 analysts have a buy or strong buy rating on the stock. The other 10 analysts have a hold rating.

The average target price is $30.70 a piece, which implies a 0.37% upside at the time of writing. The maximum target price is $37 per share, which implies a potential 20.95% increase for investors this year.

What’s the outlook for Coles shares this year?

At the close of the ASX on Thursday afternoon, Coles shares were up 0,29% to $21.05 a piece. For the year to date, Coles shares have slid 1.36% but they’re still 7.73% above trading levels seen this time last year.

Coles’ 2025 growth strategy paid off. The business posted a strong quarterly update in late October, where it reported a 3.9% increase in group sales and overall results in line with analyst expectations. 

The supermarket giant could face some headwinds from inflation and cost-of-living pressures this year, but the stock is very defensive and the business is well-positioned to be resilient among pressures. 

Analysts are pretty positive about Coles shares. TradingView data shows that 10 out of 17 analysts have a buy or strong buy rating on the stock. The other 7 analysts have a hold rating.

The average target price is $23.64 per share, which implies a 12.32% upside at the time of writing. Meanwhile, the maximum target price of $25.50 implies a potential 21.14% upside ahead for investors, using the current share price.

And the winner is…

At a maximum of 21.14%, Coles shares have a larger maximum potential upside than Woolworths shares in 2026, according to analysts. Its business has strengthened over the past year, and sentiment about the company’s potential is much more positive. Between the two supermarket giants, I’d say Coles has the upper hand right now. 

The post Coles vs Woolworths shares: Which supermarket giant has the biggest upside for 2026? appeared first on The Motley Fool Australia.

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• BHP and 4 strong ASX dividend shares for Aussie income investors to buy

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Woolworths Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Elders Ltd (ASX: ELD) share price is in focus today as the agribusiness outlined resilient financial results for FY25, highlighted by underlying EBIT growth to $143.5 million and continued dividend stability at 36 cents per share.

What did Elders report?

• Sales revenue grew to $3.2 billion, up 2.2% from FY24
• Gross margin increased to $684.6 million (21.4%)
• Underlying EBIT rose to $143.5 million (up from $128.0 million)
• Underlying net profit after tax climbed to $86.0 million, a 34% improvement
• Dividend held steady at 36.0 cents per share (100% franked)
• Leverage ratio decreased to 1.8 times (excluding AASB 16), with a strong target for FY26

What else do investors need to know?

Elders delivered growth despite challenging seasonal conditions, with dry weather affecting retail product results in South Australia and Victoria. Diversification across Agency, Real Estate, and Feed & Processing supported revenue and margin improvements.

The year saw eight acquisitions completed, including Delta Agribusiness, which enhances Elders’ regional footprint. A new divisional structure was implemented to drive sharper focus and operational accountability.

Cash generation was strong, with operating cash flow at $117.9 million and cash conversion exceeding 137%. Management maintained cost growth below inflation, supporting ongoing profitability.

What’s next for Elders?

Elders expects its leverage to return to below 2.0 times in FY26 as working capital initiatives and improved seasonal conditions take effect. Management’s focus is on extracting synergies from recent acquisitions—particularly Delta Agribusiness—and expanding backward integration to drive margin gains.

The company’s strategic ‘Eight Point Plan’ continues to target 5–10% EBIT and EPS growth through the cycle and a return on capital above 15%. Elders is also investing in technology, operational discipline, and sustainable growth across all business divisions to reinforce its position as Australia’s most trusted rural brand.

Elders share price snapshot

Over the past 12 months, the Elders shares have risen 2%, underperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

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The post Elders FY25 earnings: resilient profit and strategic growth appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Resmed CDI (ASX: RMD) share price is in focus after the company reported second quarter revenue up 11% to $1.4 billion and diluted earnings per share rising 15% to $2.68.

What did Resmed report?

• Revenue rose 11% year-over-year to $1,422.8 million (up 9% in constant currency).
• Gross margin increased by 320 basis points to 61.8% (non-GAAP: 62.3%).
• Income from operations grew 18% to $491.7 million (non-GAAP: up 19%).
• Net income came in at $392.6 million, up 14% from the prior year period.
• Diluted earnings per share were $2.68 (non-GAAP: $2.81), up 15% and 16% respectively.
• Quarterly dividend declared at US$0.60 per share; $88 million returned to shareholders.

What else do investors need to know?

Resmed’s second quarter growth was fuelled by robust demand for its sleep and respiratory care devices. Sales improved across most regions, with the US, Canada and Latin America seeing an 11% rise, and Europe and Asia posting 6% constant currency growth (excluding software).

The company reported a $6 million restructuring-related charge, linked to finalising workforce planning initiatives started earlier in the year. Despite slightly higher selling and administration costs, Resmed delivered strong operating cash flow of $340 million and continued its buyback program, repurchasing $175 million in shares.

What’s next for Resmed?

Heading into the second half of FY26, Resmed plans to increase investment in digital health solutions and innovation, aiming to expand global access to home-based care. The company is strategically focused on scaling up its AI-enabled technology, following recent FDA clearance for its Smart Comfort device.

Management maintains a goal of sustainable, profitable growth supported by further product development and capital returns, with continued emphasis on research, operational efficiencies, and global market expansion.

Resmed share price snapshot

Over the past 12 months, Resmed shares have declined 10%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Resmed posts Q2 FY26 earnings growth, lifts dividend appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price is in focus this morning, following news of a strategic shake-up. Nine is acquiring digital outdoor media platform QMS Media for $850 million, while offloading its radio assets and transitioning its regional TV station NBN to affiliate status. Digital growth businesses are expected to generate over 60% of revenue by FY27, up from about 45% in FY25.

What did Nine report?

• Acquisition of QMS Media for $850 million (cash and debt free basis), with completion targeted before 30 June 2026.
• Sale of Nine’s radio assets for $56 million and conversion of NBN to affiliate under WIN Network for $15 million.
• Net one-off cash tax loss benefits of approximately $178 million, offsetting tax from a previous Domain stake sale.
• Pro forma EBITDA contribution of $113 million from these transactions in CY26, with an implied multiple of 5.3x.
• EPS accretion forecast: marginally positive pre-synergies and low double-digit percent including synergies in FY26.
• Expected unfranked dividends for FY26 and part of FY27 due to tax loss utilisation reducing available franking credits.

What else do investors need to know?

Nine’s asset reshuffle means future growth will be more heavily anchored in fast-growing, resilient digital segments, including Streaming, Outdoor and Publishing. The acquisition of QMS, a digital outdoor market leader, adds significant scale and a complementary revenue stream to Nine’s portfolio.

The Group expects cost savings of up to $20 million a year from integrating QMS, particularly through shared back-end operations and procurement. On the flip side, the sale of the lower-growth radio and regional TV businesses will allow Nine to focus on its core metro and digital assets. Nine’s leverage will rise temporarily to about 1.8x but is anticipated to revert to its target range (1.0x–1.5x) by the end of FY27.

What did Nine management say?

Matt Stanton, CEO, said:

Today’s announcements mark a critical milestone in our Nine2028 transformation. These transactions will create a more efficient, higher-growth, and digitally powered Nine Group for our consumers, advertisers, shareholders and people. This positions Nine well for the future, enabling the Group to withstand industry disruption and deliver long-term sustainable value to our shareholders.

What’s next for Nine?

Nine is accelerating its transition into a digital-first media business. Management sees significant opportunities from cross-platform advertising, greater operational efficiency, and bundled offerings for advertisers. The addition of QMS is expected to add new capabilities and help Nine diversify revenue further.

Nine continues to guide to EBITDA growth in H1 FY26 and expects its balance sheet to strengthen post-2027 after realising transaction-related tax benefits. Investors should note dividends will temporarily be unfranked due to reduced franking credits, but the company remains committed to a 60–80% payout ratio of net profit before significant items.

Nine share price snapshot

Over the past 12 months, Nine Entertainment shares have declined 20%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Nine Entertainment shakes up portfolio: QMS buy, radio sale, and digital focus appeared first on The Motley Fool Australia.

More reading

• Atlas Arteria shares: Q4 2025 toll revenue jumps 9.5%
• Elders FY25 earnings: resilient profit and strategic growth
• Resmed posts Q2 FY26 earnings growth, lifts dividend
• PLS Group books 49% revenue leap and strong cash flow in December quarter earnings
• The high flying ASX small-cap AI stock you need to pay attention to!

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Mineral Resources Ltd (ASX: MIN) share price was under pressure on Thursday.

The mining and mining services company’s shares ended the day almost 4% lower at $61.02.

This followed the release of the company’s second quarter update.

While this decline is disappointing, it could have created a buying opportunity for investors according to analysts at Bell Potter.

What is the broker saying?

Bell Potter was pleased with the company’s performance during the quarter, noting that iron ore, lithium, and mining services volumes were ahead of expectations. It said:

MIN reported quarterly attributable sales above our estimates, including: Onslow iron ore 4.8Mt (BP est. 4.6Mt); Pilbara Hub iron ore 2.4Mt (BP est. 2.0Mt); Wodgina SC6e 76kt (BP est. 60kt); and Mt Marion SC6e 67kt (BP est. 42kt). Mining Services volumes were 85Mt (BP est. 81Mt; 1Q FY26 81Mt) with ramp-up at third party sites. In 1H FY26, Onslow FOB costs were A$52/t (FY26 guidance A$54-59/t) and group capex $600m, expected to trend lower in 2H (FY26 guidance $1,140m). At 31 December 2025, MIN had net debt of $4.9b and available liquidity of $1.4b, $0.5b and $0.3b improvements on the prior quarter, respectively.

The broker was also pleased to see that Mineral Resources is looking to take advantage of the strength in lithium prices by upgrading its production guidance for FY 2026. It adds:

MIN has upgraded FY26 SC6e sales volume guidance by 17% and 18% (midpoint) at Wodgina and Mt Marion, respectively, highlighting strong operational flexibility that enables the company to capitalise on improved lithium prices. All other FY26 guidance metrics are maintained.

The midpoints of guidance point to substantially lower attributable group SC6e sales in 2H (184kt SC6e vs 286kt in 1H) across its operations as mining moves into areas with greater ore variability. Persistent lithium market prices and operational execution could result in further upgrades to SC6e guidance, with MIN receiving the full value uplift prior to completion of the US$765m POSCO selldown scheduled to complete in the current half.

Could the Mineral Resources share price hit $70.00?

According to the note, Bell Potter believes the company’s shares are heading to the $70.00 mark.

It has retained its buy rating with an improved price target of $70.00 (from $68.00). Based on the current Mineral Resources share price, this implies potential upside of 15% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

Completion of the $1.2b MIN-POSCO lithium transaction will accelerate balance sheet deleveraging paired with higher cash flows from the ramp-up of Onslow iron ore sales. MIN is positioned to benefit from current lithium market pricing strength, holding around 268ktpa (SC6 attributable, pre-POSCO deal completion) of offline spodumene production capacity. MIN’s mining services platform delivers a stable earnings stream that is expected to expand with internal and third-party volume growth.

The post Is the Mineral Resources share price going to hit $70.00 this year? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.