DFDV Stock Analysis: DeFi Development | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 99m USD | 12M Return: -86.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.02M
Rev. Trend: 80.7%
Warnings
Tailwinds
No distinct edge detected
Seasonality 2.9 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: -156.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.13 > 0.02 and ΔFCF/TA 36.44 > 1.0 |
| NWC/Revenue: 261.8% < 20% (prev 101.1%; Δ 160.6% < -1%) |
| CFO/TA -0.12 > 3% & CFO -27.0m > Net Income -156.4m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.39 > 1.5 & < 3 |
| Outstanding Shares: last quarter (26.3m) vs 12m ago 163.3% < -2% |
| Gross Margin: 94.94% > 18% (prev 95.96%; Δ -1.02% > 0.5%) |
| Asset Turnover: 11.77% > 50% (prev 47.51%; Δ -35.75% > 0%) |
| Interest Coverage Ratio: -12.91 > 6 (EBIT TTM -150.2m / Interest Expense TTM 11.6m) |
| A: 0.16 (Total Current Assets 127.8m - Total Current Liabilities 91.7m) / Total Assets 229.7m |
| B: -0.76 (Retained Earnings -175.3m / Total Assets 229.7m) |
| C: -1.28 (EBIT TTM -150.2m / Avg Total Assets 116.9m) |
| D: 0.05 (Book Value of Equity 10.2m / Total Liabilities 219.5m) |
| Altman-Z'' = -10.04 = D |
As of July 08, 2026, the stock is trading at USD 3.19 with a total of 572,510 shares traded. Over the past week, the price has changed by +5.63%, over one month by +3.24%, over three months by -8.07% and over the past year by -86.20%.
Current recommended Stop Loss: 2.80 (which is 12.2% or 1.1 ATR below the current price).
DeFi Development has no consensus analysts rating.
| Analysts Target Price | 5.9 | 83.4% |
P/S = 7.2215
P/B = 9.4396
Revenue TTM = 13.8m USD
EBIT TTM = -150.2m USD
EBITDA TTM = -148.8m USD
Long Term Debt = 127.8m USD (from longTermDebt, last quarter)
Short Term Debt = 107k USD (from shortTermDebt, last fiscal year)
Debt = 127.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 43.0k
Net Debt = 123.6m USD (calculated: Debt 127.8m - CCE 4.24m)
Enterprise Value = 223.0m USD (99.4m + Debt 127.8m - CCE 4.24m)
Interest Coverage Ratio = -12.91 (Ebit TTM -150.2m / Interest Expense TTM 11.6m)
EV/FCF = -7.26x (Enterprise Value 223.0m / FCF TTM -30.7m)
FCF Yield = -13.78% (FCF TTM -30.7m / Enterprise Value 223.0m)
FCF Margin = -223.2% (FCF TTM -30.7m / Revenue TTM 13.8m)
Net Margin = -1.14k% (Net Income TTM -156.4m / Revenue TTM 13.8m)
Gross Margin = 94.94% ((Revenue TTM 13.8m - Cost of Revenue TTM 697k) / Revenue TTM)
Gross Margin QoQ = 82.96% (prev none%)
Tobins Q-Ratio = 0.97 (Enterprise Value 223.0m / Total Assets 229.7m)
Interest Expense / Debt = 9.10% (Interest Expense 11.6m / Debt 127.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -118.6m (EBIT -150.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.39 (Total Current Assets 127.8m / Total Current Liabilities 91.7m)
Debt / Equity = 12.54 (Debt 127.8m / totalStockholderEquity, last quarter 10.2m)
Debt / EBITDA = -0.83 (negative EBITDA) (Net Debt 123.6m / EBITDA -148.8m)
Debt / FCF = -4.02 (negative FCF - burning cash) (Net Debt 123.6m / FCF TTM -30.7m)
Total Stockholder Equity = 108.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -133.7% (out of range, set to none)
RoE = -144.5% (Net Income TTM -156.4m / Total Stockholder Equity 108.2m)
RoCE = -63.63% (EBIT -150.2m / Capital Employed (Equity 108.2m + L.T.Debt 127.8m))
RoIC = -86.34% (negative operating profit) (NOPAT -118.6m / Invested Capital 137.4m)
WACC = 1.42% (E(99.4m)/V(227.2m) * Re(-5.99%) + D(127.8m)/V(227.2m) * Rd(9.10%) * (1-Tc(0.21)))
Discount Rate = 5.29% (= Risk Free + ERP)
Shares (quarterly) Correlation: 86.67 | Cagr: 90.20%
[DCF] Fair Price = unknown (Cash Flow -30.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 80.72 | Revenue CAGR: 97.78% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.34 | Chg30d=+0.00% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.20 | Chg30d=+0.00% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=-3.40 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+15.1% | GrowthRev=-11.5%
EPS next Year (2027-12-31): EPS=-0.98 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+71.1% | GrowthRev=+14.6%
[Analyst] Revisions Ratio: -17% (up=1, down=2)