DEVELOP GLOBAL LIMITED (DVP)
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DVP

DVP - DEVELOP GLOBAL LIMITED

FNArena Sector : Industrial Metals
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 3.16
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.20

05 May
2025

-0.020

OPEN

$3.32

-0.62%

HIGH

$3.32

1,133,161

LOW

$3.17

TARGET
$4.00 25.0% upside
OTHER COMPANIES IN THE SAME SECTOR
AIS . CHN . COB . IPX . JMS . OMH . WA1 .
FNARENA'S MARKET CONSENSUS FORECASTS
DVP: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 5.4 2.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 140.4 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-5.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx147.2 M
Book Value Per Share xxxxxxxxxxxxxxx143.1
Net Operating Cash Flow xxxxxxxxxxxxxxx11.0 M
Net Profit Margin xxxxxxxxxxxxxxx-8.24 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-4.86 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.55 %
Return on Assets xxxxxxxxxxxxxxx-3.38 %
Return on Equity xxxxxxxxxxxxxxx-4.86 %
Return on Total Capital xxxxxxxxxxxxxxx-3.29 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-0.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx22 M
Long Term Debt xxxxxxxxxxxxxxx19 M
Total Debt xxxxxxxxxxxxxxx41 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx41 M
Price To Book Value xxxxxxxxxxxxxxx1.52

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx30.6 M
Capex % of Sales xxxxxxxxxxxxxxx20.80 %
Cost of Goods Sold xxxxxxxxxxxxxxx149 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx8 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx83 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

29/04/2025

1

Buy

$4.00

25.00%

Develop Global reported March quarter revenue of $50.5m for its Mining Services division, beating Bell Potter's $44.0m estimate. Development metres and ore tonnes mined at Bellevue increased by 27% and 30% quarter-on-quarter, respectively.

Commissioning at Woodlawn is progressing ahead of expectations, highlights the broker, with copper concentrate processing at 750ktpa against a nameplate of 850ktpa. First saleable concentrate shipment is expected in May to deliver initial cash flow.

The company ended the quarter with cash of $94.2m, net debt of $61.2m, and continues the sell-down process for a minority interest in Woodlawn.

Bell Potter has accelerated its Woodlawn ramp-up assumptions and revised earnings forecasts materially higher for FY25 and FY26, driven by earlier achievement of nameplate production and updated commodity prices.

No change to $4 target price or Buy rating.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.40 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 40.20 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

01/05/2025

1

Speculative Buy

$5.05

57.81%

Develop Global is on track for first cash flow in the June quarter, following earlier-than-expected ore production and copper concentrate dispatches from Woodlawn, Canaccord Genuity explains.

Underground ore mined totalled 93.4kt, with stoping commenced at the high-grade Kate Lens and a build-up of 77.2kt in run-of-mine stockpiles. Processing ramp-up is progressing ahead of schedule, with first copper concentrate meeting specification and shipment set for May.

Canaccord lifts FY25 earnings (EBITDA) forecast to $29m (from $27.8m) and --more significantly-- upgrades FY26 and FY27 on earlier production ramp-up.

Target price raised to $5.05 from $4.80. Speculative Buy rating maintained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 61.00 cents.
Access Extra Coverage Research History >

DVP STOCK CHART

FNArena News on DVP

1
Australian Broker Call *Extra* Edition – May 01, 2025

May 01 2025 - Daily Market Reports
2
FNArena Corporate Results Monitor – 05-03-2025

Mar 05 2025 - Australia
3
Australian Broker Call *Extra* Edition – Feb 18, 2025

Feb 18 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Dec 11, 2024

Dec 11 2024 - Daily Market Reports
5
FNArena Corporate Results Monitor – 01-10-2024

Oct 01 2024 - Australia

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