Develop Global Limited (VTEXF) Fair Value & Analysis
Basic Materials · US · Market cap $1.2B
Develop Global Limited
VTEXF · US
Fair value as of: Jul 22, 2026
From 9 valuation models · updated 19 days ago
Share price −5.7% over the past month.
Below-average quality, and screening another 36% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($2.78). The favourable scenario is already priced in.
- Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.
How to read this chart
60‑month range $0.7604 – $3.85 · fair‑value band $1.67 – $2.78 · the $3.45 price screens above the $2.22 fair value. Dashed = 300-day average. As of Jul 22, 2026.
Analysis
Develop Global Limited (VTEXF) currently trades at $3.45, while our model-based Fair Value estimate is $2.22, implying the stock looks roughly 35.7% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Develop Global Limited generated revenue of $294M at a net margin of 24.9%. Revenue grew 53.7% year over year. It earns a return on equity of 14.8%. The stock trades on a trailing P/E of 19.3. Fundamentals as of Jul 22, 2026
Our scenario range runs from $1.67 (bear case) to $2.78 (bull case); at $3.45, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 146% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -34% fair-value upside, at -36%, VTEXF screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 9 models by family
Widest divergence: Growth Earnings ($9.89) versus Asset-Based ($1.28). Highest evidence: Growth-Adj P/E (68).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 62
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Develop Global Limited reported revenue of $231M in FY2025 versus $4.5M in FY2022, a compound +271.6%/yr. Reported net income was $72.4M in FY2025.
VTEXF screens 36% overvalued. Compare with BHP Group →
Peer Group
Other Industrial Metals & Mining · 476 stocks
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.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 942.42 MXN | -34% |
| Rio Tinto Group RIO | A$164.89 | A$81.76 | -50% |
| Grupo México, S.A. GMEXICOB | 199.23 MXN | 187.72 MXN | -6% |
| Vale S.A VALE | $14.19 | $9.14 | -36% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| CMOC Group 603993 | ¥18.20 | ¥16.15 | -11% |
| Fortescue Ltd FMG | A$18.47 | A$18.62 | +1% |
| China Tungsten And Hightech Materials Co 000657 | ¥74.71 | ¥9.55 | -87% |
| Hindustan Zinc Limited HINDZINC | ₹521.95 | ₹576.80 | +11% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥39.56 | ¥10.59 | -73% |
Compare Develop Global Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Basic Materials stocks →
Frequently asked questions
Is Develop Global Limited (VTEXF) overvalued or undervalued?
What is the fair value of VTEXF?
What is the quality score of VTEXF?
What is the revenue of Develop Global Limited (VTEXF)?
What is the net profit margin of VTEXF?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Develop Global Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.