Develop Global Valuation

Is DVP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DVP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate DVP's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate DVP's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DVP?

Key metric: As DVP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for DVP. This is calculated by dividing DVP's market cap by their current revenue.
What is DVP's PS Ratio?
PS Ratio	3.7x
Sales	AU$147.23m
Market Cap	AU$545.56m

DVP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.7x
Enterprise Value/EBITDA	-856.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does DVP's PS Ratio compare to its peers?

The above table shows the PS ratio for DVP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	8.7x
PLL Piedmont Lithium	4.3x	24.0%	AU$311.0m
CXO Core Lithium	1.1x	-101.0%	AU$205.7m
SYA Sayona Mining	1.7x	3.3%	AU$350.0m
VUL Vulcan Energy Resources	27.5x	60.0%	AU$1.3b
DVP Develop Global	3.7x	56.7%	AU$545.6m

Price-To-Sales vs Peers: DVP is good value based on its Price-To-Sales Ratio (3.7x) compared to the peer average (8.7x).

Price to Sales Ratio vs Industry

How does DVP's PS Ratio compare vs other companies in the AU Metals and Mining Industry?

123 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	61.9x	2.7%
DVP Develop Global	3.7x	56.7%	US$355.63m
BHP BHP Group	2.3x	-4.1%	US$131.63b
FMG Fortescue	2x	-5.6%	US$36.31b

123 Companies		Estimated Growth	Market Cap
Industry Avg.	61.9x	10.7%
DVP Develop Global	3.7x	95.4%	US$355.63m

No more companies

Price-To-Sales vs Industry: DVP is good value based on its Price-To-Sales Ratio (3.7x) compared to the Australian Metals and Mining industry average (61.9x).

Price to Sales Ratio vs Fair Ratio

What is DVP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DVP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3.7x
Fair PS Ratio	19.2x

Price-To-Sales vs Fair Ratio: DVP is good value based on its Price-To-Sales Ratio (3.7x) compared to the estimated Fair Price-To-Sales Ratio (19.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DVP forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	AU$2.01	AU$4.10 +104.0%	14.6%	AU$4.70	AU$3.50	n/a	2
Nov ’25	AU$2.52	AU$4.10 +62.7%	14.6%	AU$4.70	AU$3.50	n/a	2
Oct ’25	AU$2.40	AU$3.85 +60.4%	16.9%	AU$4.50	AU$3.20	n/a	2
Sep ’25	AU$2.19	AU$4.08 +86.1%	14.1%	AU$4.65	AU$3.50	n/a	2
Aug ’25	AU$2.28	AU$4.08 +78.7%	14.1%	AU$4.65	AU$3.50	n/a	2
Jul ’25	AU$2.15	AU$3.93 +82.6%	18.5%	AU$4.65	AU$3.20	n/a	2
Jun ’25	AU$2.29	AU$3.93 +71.4%	18.5%	AU$4.65	AU$3.20	n/a	2
May ’25	AU$2.39	AU$3.98 +66.3%	17.0%	AU$4.65	AU$3.30	n/a	2
Jul ’24	AU$3.46	AU$4.60 +32.9%	8.7%	AU$5.00	AU$4.20	AU$2.15	2
Jun ’24	AU$3.50	AU$4.60 +31.4%	8.7%	AU$5.00	AU$4.20	AU$2.29	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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