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Develop Global Ltd (DVP) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Develop Global Ltd stock A$0.91, price A$3.76, that is 75.8% below the price, quality 29 out of 100. Rating: strongly overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials AU · ISIN AU0000179707

DG Develop Global Ltd logo Some data Nov 7, 2026

Develop Global Ltd

DVP · AU
Very expensive, weak quality

Our calculation puts a fair price 76% below what the stock costs today.

Low debt
Revenue last quarter +83% vs. a year ago.
Mixed Growth (revenue 5y +713.4 %/yr in AUD)
Thin margins · 2.1% net margin (TTM)
Some data
Fair value A$0.9095 · Strongly overvalued
Quality 29/100
Negative free cash flow
Trails peers (4/13)
Narrow moat 35/100 · thin data
⟳ Cyclical⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$7.51 A$1.76 Fair Value A$0.9095 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range A$1.76 – A$7.51 · fair‑value band A$0.6375 – A$1.11 · the A$3.76 price screens above the A$0.9095 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Develop Global Limited, together with its subsidiaries, engages in the exploration and development of mineral resource properties in Australia. It primarily explores for copper, zinc, lead, silver, gold, and lithium deposits.

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The company holds interest in the Sulphur Springs project that includes Sulphur Springs and Kangaroo Caves deposits and tenements; the Woodlawn Zinc-Copper Project is located at Lachlan Fold belt in New South Wales; and the Pioneer Dome Lithium Project covering approximately an area of 389 square kilometer located in the south of Kalgoorlie and north of the Esperance port.

It also provides underground mining services. The company was formerly known as Venturex Resources Limited and changed its name to Develop Global Limited in October 2021. Develop Global Limited was incorporated in 2006 and is headquartered in West Leederville, Australia.

Stock analysis

Develop Global Ltd (DVP) currently trades at A$3.76, while our model-based Fair Value estimate is A$0.9095, 76% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of A$1.32 per share, and 1 of the 16 models we run sit above the A$3.76 price.

Bear case: the Multiples group reads lowest at A$0.5500, and 15 of the 16 models stay below the price. Data coverage for this calculation is medium.

Scenario range: A$0.6375 (bear) to A$1.11 (bull), the price of A$3.76 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 29/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Develop Global Ltd reported revenue of A$389M in FY2026 versus A$4.5M in FY2022, a compound +204.6%/yr. Reported net income was A$8.2M in FY2026.

Key figures

Market cap A$1.3B (≈ $885M) Small · P/E ratio 125.3 · P/S ratio 3.27 · EPS (TTM) A$0.0300 · Dividend yield 0.0% · Net margin 2.1% · Return on equity 1.4% · Return on assets (EBIT) −2.1% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −8% fair-value upside, at −76%, DVP screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (A$0.0100 to A$5.93). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear A$0.6375 Fair Value A$0.9095 Bull A$1.11
Price A$3.76 · Downside -75.8%
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. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.0108 per share) are deliberately not added. 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
EPV A$0.2900 A$0.3200 A$0.3500 74
Residual Income A$1.10 A$1.16 A$1.30 74
ROIC Compounder A$0.2900 A$0.3200 A$0.3500 70
All 16 models by family
Earnings-Based
Graham-Dodd A$0.1700 A$1.18 A$1.65 61
Lynch FV A$0.6100 A$0.8700 A$1.13 59
PEG = 1.0 A$0.6100 A$0.8700 A$1.13 55
EPV A$0.2900 A$0.3200 A$0.3500 74
Dividend Discount
Gordon GGM A$0.0100 A$0.0100 A$0.0100 67
DDM Multi-Stage A$0.0100 A$0.0100 A$0.0100 65
Multiples
P/E Multiple A$0.3200 A$0.4200 A$0.5300 63
P/S Multiple A$0.3200 A$0.4200 A$0.5300 58
P/B Multiple A$4.45 A$5.93 A$7.41 55
EV/EBIT A$0.4100 A$0.5700 A$0.7400 65
EV/EBITDA A$0.8100 A$1.10 A$1.40 67
EV/Revenue A$0.3400 A$0.5300 A$0.7100 53
Asset-Based
NCAV (Graham) A$0.9900 A$1.32 A$1.98 54
Economic Profit
Residual Income A$1.10 A$1.16 A$1.30 74
ROIC Compounder A$0.2900 A$0.3200 A$0.3500 70
Growth Earnings
Growth-Adj P/E A$0.7500 A$1.07 A$1.39 65

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 50
Are margins and returns getting better?
Cashflow 39
Do the profits arrive as real cash?
Financial strength 72
Debt, balance sheet and risk of trouble
Investment 6
Does it invest with discipline instead of growing at any price?
Low Volatility 27
How calm the share price moves, does not count
Price momentum 27
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 31
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+67.9%
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.
+79.0%
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.
+713.4%
Start year 2021 (pandemic). Over 10 years: +85.8% a year
Revenue growth 16 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.
+73.8%
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.
−811,996.0% (2021) → 4.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

DVP screens overvalued: fair value 76% below the price. Compare with BHP Group →

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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.Other Industrial Metals & Mining · 372 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −75.8% · Bottom 25%
Profitability
Return on equity (12 months) 1.4% · Above median
Return on assets 0.8% · Above median
Net margin (12 months) 2.1% · Below median
Operating margin (12 months) 11.2% · Above median
Growth and dividend
Revenue growth (quarter YoY) 82.6% · Top 25%
Dividend yield (12 months) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.16× · Above median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/E (12 months) 125.3× · Priciest 25%
P/B 1.91× · Pricier than median
P/S (12 months) 3.27× · Pricier than median
EV/EBITDA 36.9× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 92
PAST (return on equity)6 · sector 0
HEALTH (low debt)92 · sector 95
DIVIDEND (yield)0 · sector 34

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹261.75 ₹334.17 +28% vs DVP
Saudi Arabian Mining Company 1211 58.25 SAR 64.96 SAR +12% vs DVP
Hindustan Zinc Limited HINDZINC ₹568.10 ₹624.91 +10% vs DVP
Western Mining Co 601168 ¥27.56 ¥30.32 +10% vs DVP
Boliden AB BOL kr 503.40 kr 464.45 −8% vs DVP
BHP Group BHP A$59.20 A$47.85 −19% vs DVP
Zhejiang Huayou Cobalt Co 603799 ¥33.04 ¥25.57 −23% vs DVP
Korea Zinc Company 010130 960,000 KRW 649,125 KRW −32% vs DVP
CMOC Group 603993 ¥13.29 ¥6.82 −49% vs DVP
China Tungsten And Hightech Materials Co 000657 ¥38.65 ¥4.44 −89% vs DVP

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Develop Global Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Develop Global Ltd Fair Value". https://www.fairvalue-calculator.com/stock/DVP

Frequently asked questions

Is Develop Global Ltd (DVP) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of A$0.9095 versus a price of A$3.76, about 76% lower (overvalued).
What is the fair value of DVP?
Our model-based fair value for Develop Global Ltd is A$0.9095 (as of Nov 7, 2026), built from audited fundamentals. The current price: A$3.76.
What is the quality score of DVP?
Develop Global Ltd has a Quality Score of 29/100. 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 Develop Global Ltd (DVP)?
Our model-based price target is the fair value of A$0.9095 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario A$0.6375, optimistic scenario A$1.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Develop Global Ltd stock forecast for 2026?
Our models put fair value at A$0.9095, about 76% lower versus a price of A$3.76 (overvalued). Cautious scenario A$0.6375, optimistic scenario A$1.11. The calculation is refreshed regularly with new filings.
What is the revenue of Develop Global Ltd (DVP)?
Develop Global Ltd reported trailing-twelve-month revenue of about A$393M (latest available figure, as of Nov 7, 2026).
Does Develop Global Ltd pay a dividend?
Develop Global Ltd currently shows a dividend yield of 0.02% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Develop Global Ltd (DVP)?
Develop Global Ltd has a dividend yield of 0.0%.
What is the intrinsic value of Develop Global Ltd (DVP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Develop Global Ltd it is A$0.9095 per share (as of Nov 7, 2026), against a price of A$3.76. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Develop Global Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, DVP trades above its calculated fair value: price A$3.76, fair value A$0.9095, a gap of about −76% (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 DVP?
No. The price is what the market pays today (A$3.76); the fair value is what the company's own numbers justify (A$0.9095). For Develop Global Ltd the two are A$2.85 per share apart. That gap is exactly why we show both numbers side by side.
How much is Develop Global Ltd worth?
The market values Develop Global Ltd at about A$1.3B (market capitalisation, as of Nov 7, 2026). Per share that is A$3.76; our models calculate a fair value of A$0.9095 per share.
What do the bullish and bearish scenarios say about DVP?
Our models span a range for Develop Global Ltd: cautious scenario A$0.6375, base A$0.9095, optimistic A$1.11 per share (as of Nov 7, 2026, price A$3.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DVP?
Develop Global Ltd trades at a price-to-earnings ratio of 125.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$0.9095 is built from several models across several years. Other multiples: P/B 1.9, P/S 3.3, EV/EBITDA 36.9.
How solid is the balance sheet of Develop Global Ltd (DVP)?
Balance-sheet figures for Develop Global Ltd (as of Nov 7, 2026): return on equity 1.4%, debt of 0.16 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is DVP from its 52-week high?
Develop Global Ltd trades at A$3.76, about 50% below its 52-week high of A$7.51 and 17% above the low of A$3.22 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.9095 is for.
Which stocks are comparable to Develop Global Ltd?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, 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 Develop Global Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price A$3.76, calculated fair value A$0.9095 (−76%), Quality Score 29/100, from 16 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 DVP calculated?
We run Develop Global Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of A$0.9095 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. Develop Global Ltd 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 Develop Global Ltd (DVP)?
The closing price on Nov 9, 2026 was A$3.76. Our model-based fair value is A$0.9095, about 76% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Develop Global Ltd right now?
The price sits above even our optimistic bull case (A$1.11). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Develop Global Ltd

How large is the market capitalisation of Develop Global Ltd (DVP)?
The market capitalisation of Develop Global Ltd is A$1.3B (≈ $885M). 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 Develop Global Ltd (DVP)?
The price-to-sales ratio of Develop Global Ltd is 3.27 (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 Develop Global Ltd (DVP)?
Earnings per share at Develop Global Ltd are A$0.0300 (price ÷ EPS = P/E 125.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Develop Global Ltd (DVP)?
The dividend yield of Develop Global Ltd is 0.0% (payout 2.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Develop Global Ltd (DVP)?
The net margin of Develop Global Ltd is 2.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Develop Global Ltd (DVP)?
The return on equity (ROE) of Develop Global Ltd is 1.4% (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 Develop Global Ltd (DVP)?
On an EBIT basis the return on assets of Develop Global Ltd is −2.1% (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 Develop Global Ltd (DVP)?
The operating margin of Develop Global Ltd is 11.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Develop Global Ltd (DVP)?
Revenue at Develop Global Ltd is growing +82.6% versus a year earlier (3y avg +79.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Develop Global Ltd (DVP)?
Earnings per share at Develop Global Ltd are growing −91.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Develop Global Ltd (DVP) generate?
The free cash flow of Develop Global Ltd is −A$13.5M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Develop Global Ltd (DVP) carry?
The net debt of Develop Global Ltd is A$26.1M (fiscal year 2026). 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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