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Develop Global Limited (DVP) AI Stock Analysis
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Develop Global Limited
(ASX:DVP)
The score is driven primarily by improving operating performance and a strong, conservatively levered balance sheet, which provide resilience. This is meaningfully offset by persistent negative free cash flow, weak technical momentum (below key moving averages with negative MACD), and a demanding valuation (very high P/E) that increases downside risk if earnings momentum softens.
Develop Global Limited (DVP) vs. iShares MSCI Australia ETF (EWA)
- Market Cap
- AUD 1.27B
- Dividend Yield
- ―
- Average Volume (3M)
- 1.37M
- Price to Earnings (P/E)
- 155.8
- Beta (1Y)
- 2.68
- Revenue Growth
- 67.86%
- EPS Growth
- -90.61%
- Country
- Australia
- Employees
- 741
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Industrial Materials
Develop Global Limited Business Overview & Revenue Model
Company Description
Operating with its various subsidiaries across Australia, Develop Global Limited specializes in the exploration and advancement of mineral resource properties. The firm's primary focus lies in uncovering deposits of base and precious metals such as c...
How the Company Makes Money
Develop Global Limited makes money primarily through mining services revenue earned under contract mining arrangements, where it is paid to deliver underground mining works for resource companies. This typically includes development and production mi...
Develop Global Limited Financial Statement Overview
Summary
Strong revenue growth and a shift to positive operating profit and net income in 2026 support a solid mid-range score. The balance sheet is a clear strength with moderate leverage and an expanding equity base. Offsetting factors are weak cash conversion (free cash flow negative across all years, including 2026) and signs of earnings volatility/margin compression, which reduce confidence in the durability of profitability.
Income Statement
66PositiveBalance Sheet
78PositiveCash Flow
47Neutral| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 388.54M | 388.54M | 231.47M | 147.23M | 67.78M | 4.51M |
| Gross Profit | 23.80M | 23.80M | 22.13M | 100.07M | -11.13M | 873.35K |
| EBITDA | 39.02M | 39.02M | 26.96M | 14.13M | -1.33M | -8.63M |
| Net Income | 8.19M | 8.19M | 72.39M | -12.13M | -17.89M | -9.22M |
Balance Sheet | ||||||
| Total Assets | 971.76M | 971.76M | 898.08M | 471.23M | 245.80M | 204.88M |
| Cash, Cash Equivalents and Short-Term Investments | 114.81M | 114.81M | 58.63M | 41.50M | 21.77M | 43.21M |
| Total Debt | 140.88M | 140.88M | 158.29M | 40.81M | 28.74M | 4.23M |
| Total Liabilities | 298.54M | 298.54M | 267.67M | 121.79M | 96.14M | 60.33M |
| Stockholders Equity | 672.13M | 672.13M | 629.96M | 349.27M | 149.66M | 144.55M |
Cash Flow | ||||||
| Free Cash Flow | -13.46M | -13.46M | -47.71M | -22.75M | -27.76M | -15.61M |
| Operating Cash Flow | 51.34M | 51.34M | 12.62M | 11.00M | 12.24M | -6.62M |
| Investing Cash Flow | -126.33M | -126.33M | -84.40M | -32.15M | -38.62M | -25.47M |
| Financing Cash Flow | 135.17M | 135.17M | 88.90M | 40.88M | 4.92M | 58.49M |
Develop Global Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DVP, the sentiment is Negative. The current price of 3.91 is below the 20-day moving average (MA) of 4.10, below the 50-day MA of 4.72, and below the 200-day MA of 5.29, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 39.62 is Neutral, neither overbought nor oversold. The STOCH value of 56.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DVP.
Develop Global Limited Peers Comparison
Overall Rating
AU:MLX86Outperform
AU:MSV76Outperform
AU:MAH64Neutral
AU:PRN64Neutral- AU:DVP53Neutral
AU:BCI52Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| AU:MLX | 86Outperform | AUD 1.41B | 8.92 | 26.61% | ― | 26.09% | 12.00% |
| AU:MSV | 76Outperform | AUD 142.34M | 9.34 | 22.10% | 8.96% | 5.48% | 2772.00% |
| AU:MAH | 64Neutral | AUD 2.09B | 21.04 | 13.86% | 2.20% | 7.90% | 35.92% |
| AU:PRN | 64Neutral | AUD 1.84B | 22.23 | 4.58% | 4.00% | -4.34% | -31.42% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| AU:DVP | 53Neutral | AUD 1.27B | 155.78 | 1.25% | ― | 67.86% | -90.61% |
| AU:BCI | 52Neutral | AUD 1.54B | 79.55 | 2.27% | ― | ― | ― |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| AU:DVP | Develop Global Limited | 3.91 | 0.49 | 14.33% | |
| AU:PRN | Perenti Global Limited | 1.97 | -0.58 | -22.75% | |
| AU:BCI | BCI Minerals Ltd | 0.53 | 0.15 | 38.16% | |
| AU:MAH | Macmahon Holdings Limited | 0.99 | 0.52 | 111.25% | |
| AU:MLX | Metals X Limited | 1.59 | 0.74 | 87.06% | |
| AU:MSV | Mitchell Services Limited | 0.67 | 0.38 | 128.67% |
Develop Global Limited Corporate Events
Develop Global Sets November Date for 2026 AGM and Streamlines Online Voting
Develop Global Limited has invited shareholders to its 2026 Annual General Meeting, scheduled for 19 November in Perth, and has dispatched access letters outlining attendance and voting options. The company will provide the notice of meeting and annu...
Develop Global Cuts 312,387 Lapsed Performance Rights From Capital Structure
Develop Global Limited, an ASX-listed resources and mining services company trading under ticker DVP, employs performance rights as a key component of its incentive and capital management framework, linking equity-based rewards to the achievement of...
Develop Global Expands Share Capital Through Conversion of Unquoted Securities
Develop Global Limited, an ASX-listed company in the resources sector trading under the ticker DVP, maintains a capital structure that includes ordinary fully paid shares and various unquoted convertible securities. These instruments form part of its...
Develop Global Issues New Unquoted Performance Rights Under Incentive Scheme
Develop Global Limited has issued new performance rights under its employee incentive scheme, continuing its use of equity-based remuneration to align staff rewards with company performance. The unquoted securities, designated as DVPAV performance ri...
Develop Global Sets Date and Agenda for 2026 AGM in Perth
Develop Global Limited has called its 2026 Annual General Meeting for 19 November in Perth, inviting shareholders to attend in person or participate via proxy at the offices of BDO. The company reiterates its commitment to formal governance processes...
Develop Global Director’s Performance Rights Reduced After Incentive Review
Develop Global Limited has reported a change in director William James Beament’s interests, primarily relating to performance-based securities rather than ordinary shares. Beament’s substantial direct and indirect shareholdings remain unc...
Develop Global Lodges 2026 Corporate Governance Statement With ASX
Develop Global Limited has confirmed that its corporate governance statement for the year ended 30 June 2026 is current and has been approved by the board, with the document hosted on the company’s website in line with ASX Listing Rule requirem...
Develop Global Issues First Full Corporate Governance Statement for FY26
Develop Global Limited has released its first dedicated Corporate Governance Statement for the financial year ended 30 June 2026, aligning with the ASX Corporate Governance Council’s 4th Edition Principles and Recommendations. The Board has app...
Develop Global Tables 2026 Annual Report Detailing Operations and Governance
Develop Global Limited has released its 2026 annual report, detailing governance, financial performance, operational review and sustainability initiatives across its portfolio of mining and mining services projects. The document outlines the company&...
State Street Exits Substantial Holding in Develop Global
State Street Corporation, through various global asset management subsidiaries, has filed a notice that it has ceased to be a substantial shareholder in Develop Global Limited. The change reflects a reduction in its relevant interest in the company&#...
State Street Entities Exit Substantial Holder Position in Develop Global
Develop Global Limited has disclosed that a group of entities associated with State Street Corporation, including State Street Global Advisors and related subsidiaries, have ceased to be substantial holders in the company as of 11 September 2026. The...
State Street Entities Exit Substantial Holder Position in Develop Global
Develop Global Limited has disclosed that a group of entities related to State Street Corporation has ceased to be a substantial holder in the company as of 31 August 2026. The notice, lodged under Section 671B of the Corporations Act, indicates that...
Develop Global’s High-Grade Drilling Boosts Woodlawn Mine-Life Expansion Plan
Develop Global has reported a suite of high-grade drilling results from its Woodlawn copper-zinc mine in New South Wales, including copper-equivalent grades up to 15.7%, across multiple lenses such as J, D, G, M, N and I. The program, part of its Pro...
Develop Global Sets 2026 AGM Date and Deadline for Director Nominations
Develop Global Limited has scheduled its 2026 Annual General Meeting of shareholders for 11:00 a.m. AWST on Thursday 19 November 2026, to be held in person at BDO’s offices in Perth, Western Australia. The company will release the formal Notice...
GR Engineering secures $275m EPC contract for Yitirrti copper-silver-zinc project
GR Engineering Services Limited has signed a $275 million engineering, procurement and construction contract with Venturex Sulphur Springs Pty Ltd, a subsidiary of Develop Global Limited, for the 1.5 Mtpa Yitirrti copper-silver-zinc project in Wester...
Develop Global advances Yitirrti project with A$275m plant contract
Develop Global has awarded a A$275 million engineering, procurement and construction contract to GR Engineering Services to design and build the processing plant at its Yitirrti copper-zinc-silver project in the Pilbara. The plant will have a namepla...
State Street Group Ceases to Be Substantial Holder in Develop Global
State Street Corporation, through several of its global asset management subsidiaries, has lodged a notice that it has ceased to be a substantial holder in Develop Global Limited as of 11 August 2026. The filing, made under Australia’s Corporat...
State Street Group Ceases to Be Substantial Holder in Develop Global Limited
State Street Corporation and several of its global asset management subsidiaries have disclosed that they have ceased to be substantial holders in Develop Global Limited as of July 29, 2026. The notice indicates that their collective relevant interes...
Develop Global posts solid operating cash flow amid heavy investment in mining assets
Develop Global Limited reported strong operating cash inflows for the quarter ended 30 June 2026, with net cash from operations of A$30.6 million and A$48.4 million for the year, reflecting robust customer receipts against significant production, sta...
Develop Global secures Trafigura funding as record quarter boosts multi-mine growth
Develop Global Limited reported a record June 2026 quarter as its Woodlawn copper-zinc mine delivered its strongest performance since commissioning, with copper-equivalent production up 47 percent and revenue surging to A$84 million on sharply higher...
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.
Date of analysis: Oct 01, 2026