Develia S.A. (DVL.WA)

Develia S.A. (DVL.WA) — VMCI valuation read

DVL.WA screens at VMCI 62/100, a 12-point gap above the Real Estate sector median (50). For a mid-cap Develia S.A. share, that placement says the multi-pillar composite is cheaper or higher quality than the typical peer on a like-for-like basis.

DVL.WA has logged no Form 4 insider activity over the trailing 30 days. The tape reads neither bullish nor bearish on insider conviction. The next signal sits with the 10-Q schedule and the analyst calendar.

**Investor frame.** Value: DVL.WA trades at 14.0x earnings, 22% below the Real Estate median of 18.0x, while EV/EBITDA prints 9.0x against 12.0x for the Real Estate group. Quality: ROIC of 8.0% trails the Real Estate median (10.0%) by 2.0pp, the cleanest like-for-like comparison on capital efficiency. Risk: net debt to EBITDA of -0.7x leaves covenant headroom, which sets the rate-cycle exposure for Develia S.A..

DVL.WA rose 2.8% over the trailing 7 days, with a -5.9% read on a 30-day basis.