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: 6.07
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.33

03 Feb
2026

0.290

OPEN

$5.20

5.75%

HIGH

$5.45

1,196,479

LOW

$5.10

TARGET
$6.40 20.1% upside
OTHER COMPANIES IN THE SAME SECTOR
ABR . AIS . CHN . COB . IPX . JMS . MTM . OMH . WA1 .
FNARENA'S MARKET CONSENSUS FORECASTS
DVP: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 26.9 20.2 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A - 24.8% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 27.2 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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx26.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx231.5 M
Book Value Per Share xxxxxxxxxxxxxxx194.4
Net Operating Cash Flow xxxxxxxxxxxxxxx12.6 M
Net Profit Margin xxxxxxxxxxxxxxx31.28 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx14.79 %
Return on Invested Capital xxxxxxxxxxxxxxx13.00 %
Return on Assets xxxxxxxxxxxxxxx10.57 %
Return on Equity xxxxxxxxxxxxxxx14.79 %
Return on Total Capital xxxxxxxxxxxxxxx-0.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-47.9 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx42 M
Long Term Debt xxxxxxxxxxxxxxx116 M
Total Debt xxxxxxxxxxxxxxx158 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx59 M
Price To Book Value xxxxxxxxxxxxxxx2.52

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx63.0 M
Capex % of Sales xxxxxxxxxxxxxxx27.23 %
Cost of Goods Sold xxxxxxxxxxxxxxx209 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx25 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx154 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

29/01/2026

1

Buy

$6.40

20.08%

Bell Potter notes Develop Global's higher copper and zinc concentrate output points to improved head grades/recoveries, driven by high-grade Kate lens ore. Woodlawn steady-state was reaffirmed for the March quarter and treatment/refining tailwinds were flagged for 2026.

The broker highlights Mining Services delivered $55.5m revenue, led by record Bellevue sales, with strong tender activity and a new $200m Waihi North tunnelling contract starting mid-2026.

Sulphur Springs FID is targeted for the June quarter, while Pioneer Dome development has been reactivated amid strong prices with early off-take, financing and pre-development underway. FY26 EPS forecast lifted by 4%.

Buy. Target rises to $6.40 from $5.80, mainly due to the unwind of risk discount in valuation to zero from 40%.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 20.20 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 38.80 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

02/02/2026

1

Upgrade to Speculative Buy from Hold

$5.70

6.94%

Commissioning at Woodlawn continues, with Develop Global reiterating it is on track to reach nameplate capacity of 850ktpa this quarter. Dec Q Revenue of $55.5m was in line with Canaccord Genuity and steady quarter on quarter.

During the quarter, Develop Global was awarded a five-year, $200m underground development contract to establish the Waihi North Gold Project owned by OceanaGold. 

Management highlighted it was assessing and progressing a substantial volume of tenders, reflecting favourable market conditions. Target rises to $5.70 from $5.05, upgrade to Speculative Buy from Hold.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 66.00 cents.
Access Extra Coverage Research History >

DVP STOCK CHART

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