DeFi Development Corp. (DFDV) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of DeFi Development Corp. stock $2.20, price $3.35, that is 34.3% below the price, quality 21 out of 100. Rating: overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
39‑month range $0.4926 – $42.50 · fair‑value band $1.65 – $2.75 · the $3.35 price screens above the $2.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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DeFi Development Corp. focuses on building its treasury around Solana (SOL). SOL is a blockchain infrastructure platform. The company operates through two segments: Digital Asset Treasury and Real Estate Platform.
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The Digital Asset Treasury segment executes and manages its treasury policy for the purpose of purchasing, holding, and compounding its digital asset holdings through staking and operating its owned validators.
The Real Estate Platform segment offers a technology platform that connects commercial mortgage and small business borrowers looking for debt to refinance, build, or buy commercial property, including apartment buildings and commercial property lenders.
The company was formerly known as Janover Inc. and changed its name to DeFi Development Corp. in April 2025. The company. was founded in 2018 and is headquartered in Boca Raton, Florida.
Stock analysis
DeFi Development Corp. (DFDV) currently trades at $3.35, while our model-based Fair Value estimate is $2.20, 34% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $1.65 (bear) to $2.75 (bull), the price of $3.35 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 21/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
DeFi Development Corp. reported revenue of $11.4M in FY2025 versus $2.0M in FY2021, a compound +54.8%/yr. Reported net income was −$73.8M in FY2025.
Key figures
Market cap $122M Micro · P/S ratio 8.11 · EPS (TTM) $−10.19 · Return on equity −589% · Return on assets (EBIT) −61.5% (5-year average) · Operating margin −689% · Revenue (TTM) $15.1M · Revenue growth (YoY) +66.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (low confidence).
What moves the price
The share trades about 60% below its 52-week high and 36% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −34%, DFDV screens richer than that median.
Fair Value models
Bear$1.65Fair Value $2.20Bull$2.75
Price $3.35 · Downside -34.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
P/B Multiple$1.94$2.59$3.2355
NCAV (Graham)$1.47$1.96$2.9351
All 2 models by family
Multiples
P/B Multiple$1.94$2.59$3.2355
Asset-Based
NCAV (Graham)$1.47$1.96$2.9351
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, one officer or director bought shares worth $80,510, on Aug 20, 2026.
BuyParker White10% owner3× since Nov 25, 2025: 37,873 shares, avg. $5.57$211,042Aug 21, 2026
BuyDaniel KangChief Strategy Officer3× since Nov 25, 2025: 28,200 shares, avg. $3.88$109,490Aug 20, 2026
Plus 8 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+442.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+74.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+48.8%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
25.2% (2020) → −67.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 587 stocks
Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score21 · Bottom 25%
Fair Value upside−34.3% · Bottom 25%
Profitability
Return on assets−24.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)66.9% · Top 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/B1.23× · Pricier than median
P/S (12 months)8.11× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 60
FUTURE (revenue growth)100· sector 38
PAST (return on equity)0· sector 29
HEALTH (low debt)0· sector 96
DIVIDEND (yield)0· sector 80
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "DeFi Development Corp. Fair Value". https://www.fairvalue-calculator.com/stock/DFDV
Frequently asked questions
Is DeFi Development Corp. (DFDV) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $2.20 versus a price of $3.35, about 34% lower (overvalued).
What is the fair value of DFDV?
Our model-based fair value for DeFi Development Corp. is $2.20 (as of Nov 8, 2026), built from audited fundamentals. The current price: $3.35.
What is the quality score of DFDV?
DeFi Development Corp. has a Quality Score of 21/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for DeFi Development Corp. (DFDV)?
Our model-based price target is the fair value of $2.20 (as of Nov 8, 2026) from 2 valuation models. Cautious scenario $1.65, optimistic scenario $2.75. It is a calculation from audited fundamentals, not an analyst target.
What is the DeFi Development Corp. stock forecast for 2026?
Our models put fair value at $2.20, about 34% lower versus a price of $3.35 (overvalued). Cautious scenario $1.65, optimistic scenario $2.75. The calculation is refreshed regularly with new filings.
What is the revenue of DeFi Development Corp. (DFDV)?
DeFi Development Corp. reported trailing-twelve-month revenue of about $15.1M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of DeFi Development Corp. (DFDV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DeFi Development Corp. it is $2.20 per share (as of Nov 8, 2026), against a price of $3.35. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is DeFi Development Corp. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, DFDV trades above its calculated fair value: price $3.35, fair value $2.20, a gap of about −34% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DFDV?
No. The price is what the market pays today ($3.35); the fair value is what the company's own numbers justify ($2.20). For DeFi Development Corp. the two are $1.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is DeFi Development Corp. worth?
The market values DeFi Development Corp. at about $122M (market capitalisation, as of Nov 8, 2026). Per share that is $3.35; our models calculate a fair value of $2.20 per share.
What do the bullish and bearish scenarios say about DFDV?
Our models span a range for DeFi Development Corp.: cautious scenario $1.65, base $2.20, optimistic $2.75 per share (as of Nov 8, 2026, price $3.35). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is DFDV from its 52-week high?
DeFi Development Corp. trades at $3.35, about 60% below its 52-week high of $8.42 and 36% above the low of $2.47 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $2.20 is for.
Which stocks are comparable to DeFi Development Corp.?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is DeFi Development Corp. stock attractive at the current price?
The data as of Nov 8, 2026: price $3.35, calculated fair value $2.20 (−34%), Quality Score 21/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DFDV calculated?
We run DeFi Development Corp. through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of $2.20 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. DeFi Development Corp. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of DeFi Development Corp. (DFDV)?
The closing price on Nov 6, 2026 was $3.35. Our model-based fair value is $2.20, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DeFi Development Corp. right now?
The price sits above even our optimistic bull case ($2.75). The favourable scenario is already priced in. Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of DeFi Development Corp.
How large is the market capitalisation of DeFi Development Corp. (DFDV)?
The market capitalisation of DeFi Development Corp. is $122M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of DeFi Development Corp. (DFDV)?
The price-to-sales ratio of DeFi Development Corp. is 8.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of DeFi Development Corp. (DFDV)?
Earnings per share at DeFi Development Corp. are $−10.19. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of DeFi Development Corp. (DFDV)?
The return on equity (ROE) of DeFi Development Corp. is −589% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of DeFi Development Corp. (DFDV)?
On an EBIT basis the return on assets of DeFi Development Corp. is −61.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of DeFi Development Corp. (DFDV)?
The operating margin of DeFi Development Corp. is −689% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DeFi Development Corp. (DFDV)?
Revenue at DeFi Development Corp. is growing +66.9% versus a year earlier (3y avg +74.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does DeFi Development Corp. (DFDV) generate?
The free cash flow of DeFi Development Corp. is −$18.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does DeFi Development Corp. (DFDV) carry?
The net debt of DeFi Development Corp. is $122M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 8, 2026
