DVL Stock Analysis: Develia S.A | WAR
Real Estate - Development | WAR, Poland | Market Cap: 4.110m PLN | 12M Return: 16.7% | PLLCCRP00017 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.80M
EPS Trend: 95.2%
Rev. Trend: 84.8%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality
Develia S.A. is a Poland-based real estate developer operating through residential development, rental services, and holding activities. It builds and sells residential and non-residential properties and owns or manages retail, service, and office space.
Its business combines property development with rental and management activities, giving it exposure to both property sales and recurring rental income. The company is headquartered in Wrocław and was formerly known as LC Corp S.A.
- Lower mortgage rates revive Polish housing demand and presales
- Construction costs and land prices pressure residential margins
- Project launches and handovers drive revenue and cash flow
| Net Income: 588.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 4.37 > 1.0 |
| NWC/Revenue: 31.66% < 20% (prev 101.8%; Δ -70.13% < -1%) |
| CFO/TA 0.08 > 3% & CFO 384.9m > Net Income 588.9m |
| Net Debt (235.2m) to EBITDA (768.5m): 0.31 < 3 |
| Current Ratio: 9.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (458.0m) vs 12m ago 1.35% < -2% |
| Gross Margin: 30.51% > 18% (prev 34.10%; Δ -3.60% > 0.5%) |
| Asset Turnover: 69.42% > 50% (prev 44.71%; Δ 24.71% > 0%) |
| Interest Coverage Ratio: 52.72 > 6 (EBIT TTM 756.7m / Interest Expense TTM 14.4m) |
| A: 0.20 (Total Current Assets 1.14b - Total Current Liabilities 117.5m) / Total Assets 5.04b |
| B: 0.08 (Retained Earnings 398.0m / Total Assets 5.04b) |
| C: 0.16 (EBIT TTM 756.7m / Avg Total Assets 4.63b) |
| D: 0.62 (Book Value of Equity 1.92b / Total Liabilities 3.12b) |
| Altman-Z'' = 3.33 = A |
| DSRI: 1.10 (Receivables 65.0m/34.8m, Revenue 3.22b/1.89b) |
| GMI: 1.12 (GM 34.10% / 30.51%) |
| AQI: 7.35 (AQ_t 0.77 / AQ_t-1 0.10) |
| SGI: 1.70 (Revenue 3.22b / 1.89b) |
| TATA: 0.04 (NI 588.9m - CFO 384.9m) / TA 5.04b) |
| Beneish M = 1.44 (Cap -4..+1) = D |
As of October 20, 2026, the stock is trading at PLN 8.87 with a total of 210,935 shares traded. Over the past week, the price has changed by -1.88%, over one month by -10.40%, over three months by -9.59% and over the past year by +16.74%.
Current recommended Stop Loss: 8.20 (which is 7.6% or 2.5 ATR below the current price).
Develia S.A has no consensus analysts rating.
P/E Trailing = 6.9843
P/E Forward = 12.87
P/S = 1.2779
P/B = 2.3612
P/EG = 6.4341
Revenue TTM = 3.22b PLN
EBIT TTM = 756.7m PLN
EBITDA TTM = 768.5m PLN
Long Term Debt = 956.0m PLN (from longTermDebt, last quarter)
Short Term Debt = 117.5m PLN (from shortTermDebt, last quarter)
Debt = 1.18b PLN (from shortLongTermDebtTotal, last quarter) + Leases 87.8m
Net Debt = 235.2m PLN (calculated: Debt 1.18b - CCE 942.1m)
Enterprise Value = 4.35b PLN (4.11b + Debt 1.18b - CCE 942.1m)
Interest Coverage Ratio = 52.72 (Ebit TTM 756.7m / Interest Expense TTM 14.4m)
EV/FCF = 6.38x (Enterprise Value 4.35b / FCF TTM 681.0m)
FCF Yield = 15.67% (FCF TTM 681.0m / Enterprise Value 4.35b)
FCF Margin = 21.17% (FCF TTM 681.0m / Revenue TTM 3.22b)
Net Margin = 18.30% (Net Income TTM 588.9m / Revenue TTM 3.22b)
Gross Margin = 30.51% ((Revenue TTM 3.22b - Cost of Revenue TTM 2.24b) / Revenue TTM)
Gross Margin QoQ = 24.40% (prev 31.36%)
Tobins Q-Ratio = 0.86 (Enterprise Value 4.35b / Total Assets 5.04b)
Interest Expense / Debt = 1.22% (Interest Expense 14.4m / Debt 1.18b)
Taxrate = 20.76% (154.1m / 742.3m)
NOPAT = 599.6m (EBIT 756.7m * (1 - 20.76%))
Current Ratio = 1.35 (Total Current Assets 1.14b / Total Current Liabilities 843.6m)
Debt / Equity = 0.61 (Debt 1.18b / totalStockholderEquity, last quarter 1.92b)
Debt / EBITDA = 0.31 (Net Debt 235.2m / EBITDA 768.5m)
Debt / FCF = 0.35 (Net Debt 235.2m / FCF TTM 681.0m)
Total Stockholder Equity = 1.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 12.71% (Net Income 588.9m / Total Assets 5.04b)
RoE = 30.43% (Net Income TTM 588.9m / Total Stockholder Equity 1.94b)
RoCE = 26.17% (EBIT 756.7m / Capital Employed (Equity 1.94b + L.T.Debt 956.0m))
RoIC = 12.28% (NOPAT 599.6m / Invested Capital 4.88b)
WACC = 5.48% (E(4.11b)/V(5.29b) * Re(6.77%) + D(1.18b)/V(5.29b) * Rd(1.22%) * (1-Tc(0.21)))
Discount Rate = 6.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 45.36 | Cagr: 0.56%
[DCF] Terminal Value 77.97% ; FCFF base≈562.9m ; Y1≈645.3m ; Y5≈949.7m
[DCF] Fair Price = 30.34 (EV 14.3b - Net Debt 235.2m = Equity 14.1b / Shares 463.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.17 | EPS CAGR: 26.91% | SUE: N/A | # QB: 0
Revenue Correlation: 84.76 | Revenue CAGR: 22.49% | SUE: 0.59 | # QB: 0
EPS current Year (2026-12-31): EPS=0.98 | Chg30d=+3.70% | Revisions=+0% | GrowthEPS=+2.1% | GrowthRev=+34.1%
EPS next Year (2027-12-31): EPS=1.02 | Chg30d=+0.32% | Revisions=+25% | GrowthEPS=+4.4% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: +25% (up=1, down=0)