DFDV Stock Analysis: DeFi Development | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 154m USD | 12M Return: -63.1% | US47100L3015 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.41M
Qual. Beats: 0
Rev. Trend: 87.6%
Warnings
Tailwinds
Seasonality 3.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
DeFi Development Corp. (NASDAQ: DFDV) is a micro-cap company operating two distinct business segments under a financials-sector classification. Its primary focus is a Digital Asset Treasury built around Solana (SOL), a high-throughput blockchain, where the company purchases, holds, and compounds SOL through staking and by running its own validator nodes. Its secondary segment is a Real Estate Platform that operates as a digital marketplace connecting commercial mortgage and small business borrowers with lenders seeking to refinance, build, or purchase commercial and multifamily properties.
The company was founded in 2018, completed its IPO in mid-2023, and is headquartered in Boca Raton, Florida. It was formerly known as Janover Inc. before adopting its current name in April 2025, reflecting the strategic shift toward a digital asset treasury model. The dual-segment structure distinguishes DFDV from pure-play crypto treasury companies, pairing a blockchain-native yield strategy with a legacy real estate lending marketplace.
- Solana price swings directly impact treasury asset valuations
- Staking yields and validator count expand treasury income
- Equity issuance funds additional SOL accumulation at scale
| Net Income: -199.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.17 > 0.02 and ΔFCF/TA -14.11 > 1.0 |
| NWC/Revenue: 131.5% < 20% (prev 12.38%; Δ 119.1% < -1%) |
| CFO/TA -0.15 > 3% & CFO -30.0m > Net Income -199.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.21 > 1.5 & < 3 |
| Outstanding Shares: last quarter (27.4m) vs 12m ago 41.48% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 9.72% > 50% (prev 3.28%; Δ 6.44% > 0%) |
| Interest Coverage Ratio: -13.03 > 6 (EBIT TTM -189.7m / Interest Expense TTM 14.6m) |
| A: 0.10 (Total Current Assets 114.6m - Total Current Liabilities 94.8m) / Total Assets 203.3m |
| B: -1.00 (Retained Earnings -202.6m / Total Assets 203.3m) |
| C: -1.22 (EBIT TTM -189.7m / Avg Total Assets 155.3m) |
| D: -0.06 (Book Value of Equity -12.0m / Total Liabilities 215.4m) |
| Altman-Z'' = -10.87 = D |
As of September 04, 2026, the stock is trading at USD 6.08 with a total of 2,692,359 shares traded. Over the past week, the price has changed by +15.15%, over one month by +129.43%, over three months by +101.66% and over the past year by -63.06%.
Current recommended Stop Loss: 5.50 (which is 9.5% or 1.3 ATR below the current price).
DeFi Development has no consensus analysts rating.
| Analysts Target Price | 5.9 | -3.8% |
P/S = 10.2292
P/B = 9.2751
Revenue TTM = 15.1m USD
EBIT TTM = -189.7m USD
EBITDA TTM = -188.3m USD
Long Term Debt = 127.4m USD (from longTermDebt, last fiscal year)
Short Term Debt = 107k USD (from shortTermDebt, last fiscal year)
Debt = 127.5m USD (corrected: LT Debt 127.4m + ST Debt 107k) + Leases 43.0k
Net Debt = 121.2m USD (calculated: Debt 127.5m - CCE 6.29m)
Enterprise Value = 275.6m USD (154.4m + Debt 127.5m - CCE 6.29m)
Interest Coverage Ratio = -13.03 (Ebit TTM -189.7m / Interest Expense TTM 14.6m)
EV/FCF = -8.17x (Enterprise Value 275.6m / FCF TTM -33.7m)
FCF Yield = -12.24% (FCF TTM -33.7m / Enterprise Value 275.6m)
FCF Margin = -223.6% (FCF TTM -33.7m / Revenue TTM 15.1m)
Net Margin = -1.32k% (Net Income TTM -199.1m / Revenue TTM 15.1m)
Gross Margin = unknown ((Revenue TTM 15.1m - Cost of Revenue TTM 690k) / Revenue TTM)
Tobins Q-Ratio = 1.36 (Enterprise Value 275.6m / Total Assets 203.3m)
Interest Expense / Debt = 11.41% (Interest Expense 14.6m / Debt 127.5m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -149.8m (EBIT -189.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.21 (Total Current Assets 114.6m / Total Current Liabilities 94.8m)
Debt / Equity = -10.60 (negative equity) (Debt 127.5m / totalStockholderEquity, last quarter -12.0m)
Debt / EBITDA = -0.64 (negative EBITDA) (Net Debt 121.2m / EBITDA -188.3m)
Debt / FCF = -3.59 (negative FCF - burning cash) (Net Debt 121.2m / FCF TTM -33.7m)
Total Stockholder Equity = 85.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -128.2% (out of range, set to none)
RoE = -233.4% (Net Income TTM -199.1m / Total Stockholder Equity 85.3m)
RoCE = -89.18% (EBIT -189.7m / Capital Employed (Equity 85.3m + L.T.Debt 127.4m))
RoIC = -138.9% (out of range, set to none) (NOPAT -149.8m / Invested Capital 107.9m)
WACC = -0.82% (negative - check inputs) (E(154.4m)/V(281.9m) * Re(-8.94%) + D(127.5m)/V(281.9m) * Rd(11.41%) * (1-Tc(0.21)))
Discount Rate = 5.29% (= Risk Free + ERP)
Shares (quarterly) Correlation: 83.60 | Cagr: 58.67%
[DCF] Fair Price = unknown (Cash Flow -33.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.05 | # QB: 0
Revenue Correlation: 87.61 | Revenue CAGR: 132.9% | SUE: N/A | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.18 | Chg30d=+12.20% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=-3.11 | Chg30d=+8.39% | Revisions=-25% | GrowthEPS=+22.2% | GrowthRev=+25.6%
EPS next Year (2027-12-31): EPS=-0.96 | Chg30d=+1.53% | Revisions=+0% | GrowthEPS=+69.0% | GrowthRev=+9.0%
[Analyst] Revisions Ratio: +0% (up=1, down=1)