Develop Global Limited

DB:IHB1 Stock Report

Market Cap: €322.8m

Develop Global Valuation

Is IHB1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 IHB1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate IHB1's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate IHB1's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IHB1?

Key metric: As IHB1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IHB1. This is calculated by dividing IHB1's market cap by their current revenue.
What is IHB1's PS Ratio?
PS Ratio3.6x
SalesAU$147.23m
Market CapAU$524.09m

Price to Sales Ratio vs Peers

How does IHB1's PS Ratio compare to its peers?

The above table shows the PS ratio for IHB1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
PLL Piedmont Lithium
4.8x24.0%AU$349.9m
SIM0 SIMONA
0.6xn/a€345.0m
UZU Uzin Utz
0.5x4.3%€250.2m
SZG Salzgitter
0.09x2.1%€906.5m
IHB1 Develop Global
3.6x56.7%€524.1m

Price-To-Sales vs Peers: IHB1 is expensive based on its Price-To-Sales Ratio (3.6x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does IHB1's PS Ratio compare vs other companies in the European Metals and Mining Industry?

35 CompaniesPrice / SalesEstimated GrowthMarket Cap
IHB1 3.6xIndustry Avg. 0.7xNo. of Companies35PS00.81.62.43.24+
35 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: IHB1 is expensive based on its Price-To-Sales Ratio (3.6x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is IHB1'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.

IHB1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.6x
Fair PS Ratio7.4x

Price-To-Sales vs Fair Ratio: IHB1 is good value based on its Price-To-Sales Ratio (3.6x) compared to the estimated Fair Price-To-Sales Ratio (7.4x).

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 IHB1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.17
€2.50
+113.3%
14.6%€2.86€2.13n/a2
Nov ’25€1.50
€2.50
+66.4%
14.6%€2.86€2.13n/a2
Oct ’25€1.44
€2.39
+66.0%
16.9%€2.79€1.99n/a2
Sep ’25€1.32
€2.46
+86.3%
14.1%€2.81€2.11n/a2
Aug ’25€1.36
€2.46
+80.8%
14.1%€2.81€2.11n/a2
Jul ’25€1.33
€2.41
+81.1%
18.5%€2.85€1.96n/a2
Jun ’25€1.38
€2.41
+74.5%
18.5%€2.85€1.96n/a2
May ’25€1.49
€2.41
+62.1%
17.0%€2.82€2.00n/a2
Jul ’24€2.10
€2.82
+34.4%
8.7%€3.07€2.58€1.332
Jun ’24€2.10
€2.82
+34.4%
8.7%€3.07€2.58€1.382

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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