Develia S.A.

WSE:DVL Stock Report

Market Cap: zł2.7b

Develia Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: DVL (PLN5.78) is trading below our estimate of fair value (PLN7.06)

Significantly Below Fair Value: DVL is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As DVL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for DVL. This is calculated by dividing DVL's market cap by their current earnings.
What is DVL's PE Ratio?
PE Ratio7.7x
Earningszł345.34m
Market Capzł2.72b

Price to Earnings Ratio vs Peers

How does DVL's PE Ratio compare to its peers?

The above table shows the PE ratio for DVL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average8.6x
MLG MLP Group
9.6x16.5%zł1.8b
CFI CFI Holding
10.5xn/azł440.1m
CAV Cavatina Holding Spólka Akcyjna
3.2xn/azł325.5m
GTC Globe Trade Centre
11.1x8.2%zł2.5b
DVL Develia
7.7x1.2%zł2.7b

Price-To-Earnings vs Peers: DVL is good value based on its Price-To-Earnings Ratio (7.7x) compared to the peer average (8.6x).

Price to Earnings Ratio vs Industry

How does DVL's PE Ratio compare vs other companies in the PL Real Estate Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ATL Atlas Estates
0.8xn/aUS$13.35m
EFK Korporacja Gospodarcza efekt
0.8xn/aUS$8.50m
CPD CPD
0.1xn/aUS$1.88m
No more companies available in this PE range
DVL 7.7xIndustry Avg. 8.8xNo. of Companies3PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DVL is good value based on its Price-To-Earnings Ratio (7.7x) compared to the Polish Real Estate industry average (8.8x).

Price to Earnings Ratio vs Fair Ratio

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

DVL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.7x
Fair PE Ratio10.5x

Price-To-Earnings vs Fair Ratio: DVL is good value based on its Price-To-Earnings Ratio (7.7x) compared to the estimated Fair Price-To-Earnings Ratio (10.5x).

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 DVL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł5.78
zł7.13
+23.3%
6.9%zł7.72zł6.37n/a5
Nov ’25zł5.67
zł7.13
+25.7%
6.9%zł7.72zł6.37n/a5
Oct ’25zł6.01
zł6.86
+14.2%
12.4%zł7.72zł5.66n/a5
Sep ’25zł5.47
zł6.86
+25.4%
12.4%zł7.72zł5.66n/a5
Aug ’25zł5.52
zł6.86
+24.3%
12.4%zł7.72zł5.66n/a5
Jul ’25zł5.80
zł6.96
+20.0%
10.4%zł7.72zł6.03n/a5
Jun ’25zł6.12
zł6.96
+13.8%
10.4%zł7.72zł6.03n/a5
May ’25zł6.64
zł6.62
-0.4%
13.1%zł7.70zł5.59n/a5
Apr ’25zł5.96
zł5.83
-2.2%
5.0%zł6.20zł5.50n/a4
Mar ’25zł4.94
zł5.83
+18.0%
5.0%zł6.20zł5.50n/a4
Feb ’25zł4.93
zł5.58
+13.2%
7.6%zł6.20zł5.01n/a4
Jan ’25zł4.54
zł5.58
+22.8%
7.6%zł6.20zł5.01n/a4
Dec ’24zł4.95
zł5.58
+12.6%
7.6%zł6.20zł5.01n/a4
Nov ’24zł4.95
zł5.18
+4.8%
5.3%zł5.62zł4.90zł5.674
Oct ’24zł4.41
zł5.04
+14.3%
2.5%zł5.20zł4.90zł6.013
Sep ’24zł4.75
zł4.74
-0.3%
6.6%zł5.01zł4.30zł5.473
Aug ’24zł4.90
zł4.74
-3.3%
6.6%zł5.01zł4.30zł5.523
Jul ’24zł4.26
zł3.95
-7.3%
24.1%zł4.90zł2.65zł5.803
Jun ’24zł3.73
zł3.52
-5.6%
19.2%zł4.30zł2.65zł6.123
May ’24zł3.61
zł3.30
-8.6%
13.9%zł3.65zł2.65zł6.643
Apr ’24zł3.12
zł2.94
-5.9%
16.0%zł3.60zł2.56zł5.963
Mar ’24zł2.94
zł2.67
-9.2%
3.7%zł2.80zł2.56zł4.943
Feb ’24zł2.65
zł2.67
+0.8%
3.7%zł2.80zł2.56zł4.933
Jan ’24zł2.46
zł2.67
+8.8%
3.7%zł2.80zł2.56zł4.543
Dec ’23zł2.27
zł2.67
+17.9%
3.7%zł2.80zł2.56zł4.953
Nov ’23zł1.98
zł3.31
+67.3%
11.7%zł3.74zł2.80zł4.953

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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