Develop Global Limited (AU:DVP)
ASX:DVP
Want to see AU:DVP full AI Analyst Report?
Top Page
Develop Global Limited
(Sydney:DVP)
Select Model
Select Model
Rating:68Neutral
Price Target:
AU$6.00
▲(7.91% Upside)
Action:Reiterated
Date:01/07/26
The score is driven primarily by solid financial stability and growth (low leverage and strong revenue growth) but tempered by weak profitability and negative free cash flow. Technicals add support due to a clear uptrend, while valuation is only moderate given a mid-range P/E and no dividend yield.
Positive Factors
Strong Revenue Growth
Sustained high revenue growth increases scale and market presence for its mining services. Over 2-6 months this supports stronger contract leverage, improves bargaining with clients and suppliers, and provides runway to invest in operational improvements and owned-project advancement.
Negative Factors
Negative Profitability / Weak Margins
Persistent negative operating and net margins indicate the business has trouble converting strong top-line growth into sustainable profits. Over months this limits retained earnings, reduces reinvestment capacity, and makes returns sensitive to contract pricing and execution efficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained high revenue growth increases scale and market presence for its mining services. Over 2-6 months this supports stronger contract leverage, improves bargaining with clients and suppliers, and provides runway to invest in operational improvements and owned-project advancement.
Read all positive factors
Develop Global Limited (DVP) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.70B
Dividend YieldN/A
Average Volume (3M)1.44M
Price to Earnings (P/E)232.1
Beta (1Y)2.81
Revenue Growth48.61%
EPS GrowthN/A
CountryAU
Employees433
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.28
Shares Outstanding329,985,470
10 Day Avg. Volume921,382
30 Day Avg. Volume1,437,006
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.10
Price to Sales (P/S)5.71
P/FCF Ratio-27.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.05Price Target Upside26.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.09
Revenue Forecast (FY)AU$385.73M
Develop Global Limited Business Overview & Revenue Model
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, and gold deposits. The company's flagship project...
How the Company Makes Money
Develop Global Limited makes money primarily through contract revenue from delivering mining services to third-party mine owners/operators. This typically includes being paid for underground mining activities (e.g., development, production, and as...
Develop Global Limited Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 288.98M | 231.47M | 147.23M | 67.78M | 4.51M | 0.00 |
| Gross Profit | 3.34M | 22.13M | 100.07M | -11.13M | 873.35K | -415.39K |
| EBITDA | 11.28M | 26.96M | 14.13M | -1.33M | -8.63M | -89.37M |
| Net Income | 73.09M | 72.39M | -12.13M | -17.89M | -9.22M | -89.88M |
Balance Sheet | ||||||
| Total Assets | 908.55M | 898.08M | 471.23M | 245.80M | 204.88M | 57.32M |
| Cash, Cash Equivalents and Short-Term Investments | 180.39M | 58.63M | 41.50M | 21.77M | 43.21M | 16.83M |
| Total Debt | 157.83M | 158.29M | 40.81M | 28.74M | 4.23M | 103.78K |
| Total Liabilities | 269.24M | 267.67M | 121.79M | 96.14M | 60.33M | 21.72M |
| Stockholders Equity | 638.75M | 629.96M | 349.27M | 149.66M | 144.55M | 35.60M |
Cash Flow | ||||||
| Free Cash Flow | -57.22M | -47.71M | -22.75M | -27.76M | -15.61M | -5.01M |
| Operating Cash Flow | 21.89M | 12.62M | 11.00M | 12.24M | -6.62M | -2.43M |
| Investing Cash Flow | -98.45M | -84.40M | -32.15M | -38.62M | -25.47M | -2.43M |
| Financing Cash Flow | 144.95M | 88.90M | 40.88M | 4.92M | 58.49M | 19.43M |
Develop Global Limited Technical Analysis
Neutral
5.56
Price Trends
5.15
Positive
5.15
Positive
4.54
Positive
Market Momentum
0.09
Positive
42.22
Neutral
11.80
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DVP, the sentiment is Neutral. The current price of 5.56 is below the 20-day moving average (MA) of 5.66, above the 50-day MA of 5.15, and above the 200-day MA of 4.54, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 42.22 is Neutral, neither overbought nor oversold. The STOCH value of 11.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:DVP.
Develop Global Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | AU$1.41B | 4.80 | 20.65% | ― | 30.24% | 4.06% | |
77 Outperform | AU$1.79B | 7.36 | 13.05% | 2.24% | 13.92% | 95.48% | |
75 Outperform | AU$1.90B | 11.24 | 6.57% | 2.46% | 1.39% | 40.82% | |
68 Neutral | AU$1.70B | 232.09 | 11.52% | ― | 48.61% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$100.68M | 2.16 | 13.72% | ― | -6.93% | 96.28% | |
46 Neutral | AU$998.78M | -7.65 | -9.67% | ― | ― | ― |
* Basic Materials Sector Average
AU:DVP
Develop Global Limited
5.23
1.52
40.97%
AU:PRN
Perenti Global
2.03
0.59
40.78%
AU:BCI
BCI Minerals Ltd
0.34
0.05
15.25%
AU:MAH
Macmahon Holdings Limited
0.85
0.59
221.97%
AU:MLX
Metals X Limited
1.60
1.04
187.39%
AU:MSV
Mitchell Services Limited
0.48
0.22
90.00%
Develop Global Limited Corporate Events
Develop to redeploy capital and workforce as Bellevue contract ends, pivoting to Core Lithium and own projects
May 12, 2026
Develop Global will conclude its underground mining contract at Bellevue Gold’s Western Australian mine on 31 July 2026, freeing about A$50 million of equipment and infrastructure for redeployment. The shift coincides with the start of a new...
Develop Global wins A$274m Core Lithium underground mining contract
May 12, 2026
Develop Global has secured a A$274 million contract to carry out all underground development and production at Core Lithium’s BP33 mine, part of the Finniss Lithium Project in the Northern Territory, starting underground mining in July 2026 ...
Develop Global’s Quarterly Cash Flows Highlight Heavy Investment and Stabilising Operations
Apr 22, 2026
Develop Global Limited reported quarterly cash flows showing modest net operating cash outflows of A$2.05 million for the March 2026 quarter, but a positive A$17.82 million in operating cash flow for the financial year to date, supported by A$79.4...
Develop Global Reaches Steady-State Output at Woodlawn Copper Mine
Apr 8, 2026
Develop Global has reached steady-state production at its Woodlawn copper mine in New South Wales, with March output lifting the operation above its nameplate capacity of 850,000 tonnes per annum. The company’s strategy of extensive infill d...
Develop Global Simplifies Capital Structure as Options and Rights Lapse
Mar 19, 2026
Develop Global Limited has reported changes to its capital structure, advising the market that certain options and performance rights on issue have ceased. The update was lodged as a new announcement to inform shareholders and regulators of the re...
Develop Global Issues New Shares on Conversion of Unquoted Securities
Mar 19, 2026
Develop Global Limited has notified the market of the issue of new fully paid ordinary shares following the conversion of unquoted options or other unquoted convertible securities. The company will issue a total of 79,158 DVP ordinary shares acros...
Develop Global Issues New Unquoted Performance Rights Under Staff Incentive Plan
Mar 17, 2026
Develop Global Limited has notified the market of the issue of 588,074 unquoted performance rights under its employee incentive scheme, dated 10 March 2026. The new securities, which are subject to transfer restrictions and will not be quoted on t...
Develop Global Releases Interim Financial Report for Half-Year to 31 December 2025
Mar 9, 2026
Develop Global Limited has released its interim financial report for the half year ended 31 December 2025, detailing its consolidated financial performance, cash flows and changes in equity for the period. The report, which has been reviewed by ex...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.