Financials Develop Global Limited

Equities

Market Closed - Australian S.E. Other stock markets 02:10:43 2024-04-26 am EDT			5-day change	1st Jan Change
2.35 ^AUD	+3.52%		+8.80%	-16.96%

Apr. 03	Develop Global Woodlawn Project NPV Rises 37% to AU$658 Million	MT
Mar. 28	Anax Metals and Develop Global JV to Assess Heap Leaching of Oxide Ores	MT

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	54.57	16.51	466	320.6	626.2	570.2	-	-
Enterprise Value (EV) ¹	49.66	16.51	466	320.6	626.2	555.2	538.2	847.2
P/E ratio	-18.4 x	-3.77 x	-3.4 x	-	-	-1,175 x	21.4 x	9.27 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	-1,024 x	998 x	-	71 x	9.24 x	3.99 x	2.52 x	1.36 x
EV / Revenue	-932 x	998 x	-	71 x	9.24 x	3.88 x	2.38 x	2.02 x
EV / EBITDA	-23.2 x	-	-	-37.2 x	-433 x	28.8 x	10.9 x	6.47 x
EV / FCF	-9.31 x	-	-	-9.99 x	-23.7 x	-33.8 x	-29.3 x	-5.76 x
FCF Yield	-10.7%	-	-	-10%	-4.21%	-2.96%	-3.41%	-17.4%
Price to Book	1.91 x	-	-	2.65 x	-	3.26 x	2.87 x	2.06 x
Nbr of stocks (in thousands)	55,973	63,509	121,036	161,092	180,988	242,654	-	-
Reference price ²	0.9750	0.2600	3.850	1.990	3.460	2.350	2.350	2.350
Announcement Date	9/26/19	9/25/20	9/29/21	9/29/22	9/27/23	-	-	-

¹AUD in Million²AUD

Estimates

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-0.0533	0.0165	-	4.512	67.78	143	226	419
EBITDA ¹	-2.14	-	-	-8.609	-1.447	19.3	49.3	131
EBIT ¹	-2.432	-	-	-	-11.42	1	7	52
Operating Margin	4,564.41%	-	-	-	-16.85%	0.7%	3.1%	12.41%
Earnings before Tax (EBT) ¹	-	-	-	-	-17.89	-1	2	42
Net income ¹	-2.711	-	-89.88	-9.223	-17.89	2.3	27.8	65.7
Net margin	5,088.96%	-	-	-204.4%	-26.39%	1.61%	12.3%	15.68%
EPS ²	-0.0530	-0.0690	-1.132	-	-	-0.002000	0.1100	0.2535
Free Cash Flow ¹	-5.333	-	-	-32.09	-26.38	-16.45	-18.35	-147
FCF margin	10,009.07%	-	-	-711.09%	-38.92%	-11.5%	-8.12%	-35.1%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	9/26/19	9/25/20	9/29/21	9/29/22	9/27/23	-	-	-

¹AUD in Million²AUD

Estimates

Fiscal Period: Juni	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	277
Net Cash position ¹	4.91	-	-	-	-	15	32	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	2.115 x
Free Cash Flow ¹	-5.33	-	-	-32.1	-26.4	-16.5	-18.4	-147
ROE (net income / shareholders' equity)	-11.6%	-	-	-9.8%	-	0.5%	6.5%	18.5%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	5%
Assets ¹	-	-	-	-	-	-	-	1,314
Book Value Per Share ²	0.5100	-	-	0.7500	-	0.7200	0.8200	1.140
Cash Flow per Share ²	-0.0200	-	-	-0.0300	-	0.0300	0.2200	0.6000
Capex ¹	4.46	-	-	2.04	8.42	21.3	50.5	269
Capex / Sales	-8,362.05%	-	-	45.15%	12.43%	14.9%	22.35%	64.2%
Announcement Date	9/26/19	9/25/20	9/29/21	9/29/22	9/27/23	-	-	-

¹AUD in Million²AUD

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.35 AUD

Average target price

3.975 AUD

Spread / Average Target

+69.15%

	1st Jan change	Capi.
DEVELOP GLOBAL LIMITED	-16.96%	372M
BHP GROUP LIMITED	-14.40%	143B
RIO TINTO PLC	-6.66%	117B
GLENCORE PLC	-0.55%	71.07B
SAUDI ARABIAN MINING COMPANY (MA'ADEN)	+6.69%	50.97B
GRUPO MÉXICO, S.A.B. DE C.V.	+13.30%	48.38B
ANGLO AMERICAN PLC	+34.12%	39.93B
TECK RESOURCES LIMITED	+22.92%	26.1B
HINDUSTAN ZINC LIMITED	+32.58%	21.36B
IVANHOE MINES LTD.	+58.44%	18.57B