(DVL) Develia S.A - Ratings and Ratios
Apartments, Offices, Retail rentals
Description: DVL Develia S.A
Develia S.A. is a Polish real estate development company operating through three segments: Rental Services, Property Development Activity, and Holding (Other) Activity. The company focuses on developing commercial and residential projects in major Polish cities, including Warsaw, Wroclaw, Kraków, Katowice, Gdansk, and Lódz.
From a financial perspective, Develia S.A. has a market capitalization of approximately 3844.91M PLN, indicating a significant presence in the Polish real estate market. With a Price-to-Earnings (P/E) ratio of 10.63, the companys stock appears to be reasonably valued. The Return on Equity (RoE) of 22.17% suggests that Develia S.A. is generating substantial returns for its shareholders.
To further evaluate Develia S.A.s performance, we can consider additional KPIs such as Revenue Growth, Net Profit Margin, and Debt-to-Equity ratio. A review of these metrics would provide insight into the companys ability to sustain its growth, manage its finances, and maintain a healthy balance sheet. For instance, a high Revenue Growth rate and Net Profit Margin would indicate a strong operational performance, while a low Debt-to-Equity ratio would suggest a manageable level of indebtedness.
From a valuation perspective, we can analyze Develia S.A.s Price-to-Book (P/B) ratio and Dividend Yield to determine if the stock is undervalued or overvalued. A comparison with industry peers would also provide context on the companys relative performance. Additionally, an examination of the companys development pipeline, rental income, and sales growth would help assess its future prospects.
DVL Stock Overview
| Market Cap in USD | 1,077m |
| Sector | Real Estate |
| Industry | Real Estate - Development |
| GiC Sub-Industry | Real Estate Development |
| IPO / Inception |
DVL Stock Ratings
| Growth Rating | 91.2 |
| Fundamental | 65.1% |
| Dividend Rating | 88.0 |
| Rel. Strength | 74.2 |
| Analysts | - |
| Fair Price Momentum | 11.93 PLN |
| Fair Price DCF | 1.24 PLN |
DVL Dividends
| Dividend Yield 12m | 8.31% |
| Yield on Cost 5y | 45.67% |
| Annual Growth 5y | 20.11% |
| Payout Consistency | 82.3% |
| Payout Ratio | 89.4% |
DVL Growth Ratios
| Growth Correlation 3m | 62.1% |
| Growth Correlation 12m | 83.7% |
| Growth Correlation 5y | 90.8% |
| CAGR 5y | 46.42% |
| CAGR/Max DD 5y | 0.98 |
| Sharpe Ratio 12m | -0.12 |
| Alpha | 56.59 |
| Beta | 0.866 |
| Volatility | 40.87% |
| Current Volume | 80.6k |
| Average Volume 20d | 162.3k |
| Stop Loss | 8.1 (-4.6%) |
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income (360.9m TTM) > 0 and > 6% of Revenue (6% = 98.5m TTM) |
| FCFTA 0.05 (>2.0%) and ΔFCFTA 4.50pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 113.6% (prev 94.48%; Δ 19.16pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 284.4m <= Net Income 360.9m (YES >=105%, WARN >=100%) |
| Net Debt (432.1m) to EBITDA (376.0m) ratio: 1.15 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.97 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (457.7m) change vs 12m ago 1.20% (target <= -2.0% for YES) |
| Gross Margin 33.74% (prev 30.04%; Δ 3.71pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 39.49% (prev 45.40%; Δ -5.92pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 24.89 (EBITDA TTM 376.0m / Interest Expense TTM 15.1m) >= 6 (WARN >= 3) |
Altman Z'' 3.86
| (A) 0.42 = (Total Current Assets 3.78b - Total Current Liabilities 1.92b) / Total Assets 4.45b |
| (B) 0.10 = Retained Earnings (Balance) 445.4m / Total Assets 4.45b |
| (C) 0.09 = EBIT TTM 376.0m / Avg Total Assets 4.16b |
| (D) 0.17 = Book Value of Equity 445.4m / Total Liabilities 2.67b |
| Total Rating: 3.86 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 65.11
| 1. Piotroski 6.0pt = 1.0 |
| 2. FCF Yield 4.66% = 2.33 |
| 3. FCF Margin 12.40% = 3.10 |
| 4. Debt/Equity 0.49 = 2.38 |
| 5. Debt/Ebitda 2.35 = -0.67 |
| 6. ROIC - WACC 4.10% = 5.13 |
| 7. RoE 22.17% = 1.85 |
| 8. Revenue Trend data missing |
| 9. Revenue CAGR data missing |
| 10. EPS Trend data missing |
| 11. EPS CAGR data missing |
As of August 10, 2025, the stock is trading at PLN 8.49 with a total of 80,564 shares traded.
Over the past week, the price has changed by +3.79%, over one month by +17.92%, over three months by +15.81% and over the past year by +78.58%.
Partly, yes. Based on ValueRay´s Fundamental Analyses, Develia S.A (WAR:DVL) is currently (August 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 65.11 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of DVL is around 11.93 PLN . This means that DVL is currently undervalued and has a potential upside of +40.52% (Margin of Safety).
Develia S.A has no consensus analysts rating.
According to our own proprietary Forecast Model, DVL Develia S.A will be worth about 13.2 in August 2026. The stock is currently trading at 8.49. This means that the stock has a potential upside of +54.89%.
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 8.5 | -0.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 13.2 | 54.9% |
DVL Fundamental Data Overview
Market Cap PLN = 3.93b (3.93b PLN * 1.0 PLN.PLN)
CCE Cash And Equivalents = 450.4m PLN (Cash only, last quarter)
P/E Trailing = 10.8734
P/S = 2.3484
P/B = 2.2196
Beta = 0.613
Revenue TTM = 1.64b PLN
EBIT TTM = 376.0m PLN
EBITDA TTM = 376.0m PLN
Long Term Debt = 714.9m PLN (from longTermDebt, last quarter)
Short Term Debt = 167.6m PLN (from shortLongTermDebt, last quarter)
Debt = 882.5m PLN (Calculated: Short Term 167.6m + Long Term 714.9m)
Net Debt = 432.1m PLN (from netDebt column, last quarter)
Enterprise Value = 4.36b PLN (3.93b + Debt 882.5m - CCE 450.4m)
Interest Coverage Ratio = 24.89 (Ebit TTM 376.0m / Interest Expense TTM 15.1m)
FCF Yield = 4.66% (FCF TTM 203.5m / Enterprise Value 4.36b)
FCF Margin = 12.40% (FCF TTM 203.5m / Revenue TTM 1.64b)
Net Margin = 21.99% (Net Income TTM 360.9m / Revenue TTM 1.64b)
Gross Margin = 33.74% ((Revenue TTM 1.64b - Cost of Revenue TTM 1.09b) / Revenue TTM)
Tobins Q-Ratio = 9.80 (Enterprise Value 4.36b / Book Value Of Equity 445.4m)
Interest Expense / Debt = 0.69% (Interest Expense 6.09m / Debt 882.5m)
Taxrate = 20.57% (from yearly Tax Provision: 98.2m / 477.3m)
NOPAT = 298.7m (EBIT 376.0m * (1 - 20.57%))
Current Ratio = 1.97 (Total Current Assets 3.78b / Total Current Liabilities 1.92b)
Debt / Equity = 0.49 (Debt 882.5m / last Quarter total Stockholder Equity 1.78b)
Debt / EBITDA = 2.35 (Net Debt 432.1m / EBITDA 376.0m)
Debt / FCF = 4.34 (Debt 882.5m / FCF TTM 203.5m)
Total Stockholder Equity = 1.63b (last 4 quarters mean)
RoA = 8.10% (Net Income 360.9m, Total Assets 4.45b )
RoE = 22.17% (Net Income TTM 360.9m / Total Stockholder Equity 1.63b)
RoCE = 16.05% (Ebit 376.0m / (Equity 1.63b + L.T.Debt 714.9m))
RoIC = 11.73% (NOPAT 298.7m / Invested Capital 2.55b)
WACC = 7.62% (E(3.93b)/V(4.81b) * Re(9.21%)) + (D(882.5m)/V(4.81b) * Rd(0.69%) * (1-Tc(0.21)))
Discount Rate = 9.21% (= CAPM, Blume Beta Adj.)
[DCF Debug] Terminal Value 64.43% ; FCFE base≈123.1m ; Y1≈79.2m ; Y5≈34.7m
Fair Price DCF = 1.24 (DCF Value 565.8m / Shares Outstanding 457.7m; 5y FCF grow -41.43% → 2.90% )