DeFi Development Corp. (NASDAQ: DFDV)

Sector: Technology Industry: Software - Infrastructure CIK: 0001805526
P/B 0.45
P/E 1.56
P/S 14.58
Market Cap 109.74 Mn
ROIC (Qtr) 24.27
Div Yield % 0.00
Rev 1y % (Qtr) 647.17
Total Debt (Qtr) 202.04 Mn
Debt/Equity (Qtr) 0.83

About

Janover Inc., a technology platform with the ticker symbol JNVR, operates in the industry of connecting commercial mortgage and small business borrowers with lenders. The company's platform leverages artificial intelligence (AI) to match borrowers with the most suitable loan options, while also providing a human touch through its capital markets advisors. Janover's business model is centered around earning a transaction fee for every loan that closes through its platform. Janover's primary business activities revolve around its B2B fintech marketplace,...

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Analysis

Pros

  • Tangible assets of 475.97M provide exceptional 4138.90x coverage of deferred revenue 115000, showing strong service capability backing.
  • Long-term investments of 301.47M provide solid 2.29x coverage of long-term debt 131.44M, indicating strategic financial planning.
  • Short-term investments of 153.62M provide solid 16.29x coverage of other current liabilities 9.43M, indicating strong liquidity.
  • Robust tangible asset base of 475.97M provides 5.36x coverage of working capital 88.86M, indicating strong operational backing.
  • Strong free cash flow of (7.23M) provides 5.78x coverage of acquisition spending (1.25M), indicating disciplined M&A strategy.

Cons

  • Operating cash flow of (7.22M) barely covers its investment activities of (236.32M), with a coverage ratio of 0.03, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (236.32M) provide weak support for R&D spending of 927241, which is -254.86x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 8.80M provide limited coverage of acquisition spending of (1.25M), which is -7.04x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating cash flow of (7.22M) provides insufficient coverage of deferred revenue obligations of 115000, which is -62.79x, raising concerns about future service delivery capabilities.
  • Short-term investments of 153.62M significantly exceed cash reserves of 8.80M, which is 17.46x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.

Peer Comparison

Companies in the Software - Infrastructure
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 MSFT Microsoft Corp 3,542.10 Bn 33.76 12.06 60.56 Bn
2 ORCL Oracle Corp 533.93 Bn 34.61 8.75 124.39 Bn
3 PLTR Palantir Technologies Inc. 437.56 Bn 399.47 112.31 0.24 Bn
4 PANW Palo Alto Networks Inc 125.16 Bn 112.03 13.10 0.35 Bn
5 CRWD CrowdStrike Holdings, Inc. 120.85 Bn -384.67 26.47 0.82 Bn
6 SNPS Synopsys Inc 71.69 Bn 35.89 11.14 15.14 Bn
7 NET Cloudflare, Inc. 67.84 Bn -658.43 33.70 3.50 Bn
8 FTNT Fortinet, Inc. 63.33 Bn 33.80 9.66 1.00 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 0.27 2.56
EV to Cash from Ops. -17.86 38.32
EV to Debt 0.64 -11.37
EV to EBIT 1.39 -12.79
EV to EBITDA 1.46 7.72
EV to Free Cash Flow [EV/FCF] -17.84 24.22
EV to Market Cap 1.18 0.58
EV to Revenue 17.13 -35.00
Price to Book Value [P/B] 0.45 3.74
Price to Earnings [P/E] 1.56 -18.61

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -0.30
Dividend Payout Ratio % 0.00 2.69
Dividend per Basic Share 0.00 0.10
FCF Dividend Payout Ratio % 0.00 1.67
Interest Coverage 25.08 -13.15

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % 73.82 -404.11
Cash and Equivalents Growth (1y) % 217.91 226.02
Dividend Growth (1y) % 0.00 -0.27
EBIAT Growth (1y) % 2,239.39 31.15
EBITDA Growth (1y) % 2,702.65 49.02
EBIT Growth (1y) % 2,822.61 25.85
EBT Growth (1y) % 2,714.08 17.82
EPS Growth (1y) % 1,021.04 70.69
FCF Growth (1y) % -146.60 295.45
Gross Profit Growth (1y) % 311.67 49.96

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.02 0.68
Cash Payout Ratio 0.00 0.02
Cash Ratio 0.10 1.21
Current Ratio 2.04 2.57
Debt to Equity Ratio 0.83 -0.93
Interest Cover Ratio 25.08 -13.15
Times Interest Earned 25.08 -13.15

Profitability

Metric Value Industry Percentile
EBITDA Margin % 1,245.90 -544.82
EBIT Margin % 1,236.07 -197.78
EBT Margin % 1,186.79 -602.74
Gross Margin % 98.30 52.06
Net Profit Margin % 932.60 -605.52