DIRR3 · B3 · Homebuilders
Direcional
We own 174 shares · in the portfolio for 5 days
- Since we bought
- −5.9%
- Ibovespa, same period
- −4.4%
At the close of 30 Oct 2026. Includes dividends declared since purchase.
Why we own it
Like Cury, it builds for Minha Casa Minha Vida and fell sharply after the election despite the program being a government priority.
What could go wrong
- The program’s funding is cut.
- Construction costs squeeze margins.
What would make us sell
Written before we bought. A falling price is not on this list.
- Cuts to Minha Casa Minha Vida or FGTS funding.
- A lasting decline in margins and cash generation.
Twelve months against the Ibovespa
| Date | Direcional | Ibovespa |
|---|---|---|
| 31 Oct 2025 | 0.0% | 0.0% |
| 5 Nov 2025 | +0.5% | +2.5% |
| 10 Nov 2025 | +3.4% | +3.8% |
| 13 Nov 2025 | +6.5% | +5.1% |
| 18 Nov 2025 | +9.6% | +4.7% |
| 24 Nov 2025 | +8.2% | +3.8% |
| 27 Nov 2025 | +8.0% | +5.9% |
| 2 Dec 2025 | +9.4% | +7.7% |
| 5 Dec 2025 | +0.8% | +5.2% |
| 10 Dec 2025 | +2.7% | +6.4% |
| 15 Dec 2025 | +3.1% | +8.7% |
| 18 Dec 2025 | −9.9% | +5.6% |
| 23 Dec 2025 | −9.0% | +7.3% |
| 30 Dec 2025 | −8.3% | +7.7% |
| 6 Jan 2026 | −8.6% | +9.4% |
| 9 Jan 2026 | −9.6% | +9.2% |
| 14 Jan 2026 | −13.0% | +10.4% |
| 19 Jan 2026 | −15.1% | +10.2% |
| 22 Jan 2026 | −10.8% | +17.4% |
| 27 Jan 2026 | −9.3% | +21.7% |
| 30 Jan 2026 | −9.4% | +21.3% |
| 4 Feb 2026 | −6.2% | +21.5% |
| 9 Feb 2026 | +2.7% | +24.5% |
| 12 Feb 2026 | +3.0% | +25.6% |
| 19 Feb 2026 | +9.0% | +26.1% |
| 24 Feb 2026 | +7.1% | +28.1% |
| 27 Feb 2026 | +6.0% | +26.2% |
| 4 Mar 2026 | +0.1% | +24.0% |
| 9 Mar 2026 | −1.9% | +21.0% |
| 12 Mar 2026 | −9.2% | +19.9% |
| 17 Mar 2026 | −9.5% | +20.6% |
| 20 Mar 2026 | −12.9% | +17.8% |
| 25 Mar 2026 | −8.3% | +24.0% |
| 30 Mar 2026 | −16.1% | +22.1% |
| 2 Apr 2026 | −13.1% | +25.8% |
| 8 Apr 2026 | −10.2% | +28.5% |
| 13 Apr 2026 | −7.3% | +32.4% |
| 16 Apr 2026 | −7.3% | +31.6% |
| 22 Apr 2026 | −6.2% | +29.0% |
| 27 Apr 2026 | −14.9% | +26.8% |
| 30 Apr 2026 | −16.5% | +25.3% |
| 6 May 2026 | −12.0% | +25.5% |
| 11 May 2026 | −16.5% | +21.6% |
| 14 May 2026 | −12.5% | +19.3% |
| 19 May 2026 | −18.9% | +16.5% |
| 22 May 2026 | −16.7% | +17.8% |
| 27 May 2026 | −13.5% | +17.5% |
| 1 Jun 2026 | −13.1% | +15.2% |
| 5 Jun 2026 | −19.8% | +13.0% |
| 10 Jun 2026 | −16.8% | +12.8% |
| 15 Jun 2026 | −12.0% | +14.0% |
| 18 Jun 2026 | −12.6% | +12.5% |
| 23 Jun 2026 | −10.3% | +14.5% |
| 26 Jun 2026 | −7.7% | +15.9% |
| 1 Jul 2026 | −9.9% | +14.8% |
| 6 Jul 2026 | −9.8% | +15.3% |
| 9 Jul 2026 | −17.5% | +15.5% |
| 14 Jul 2026 | −15.6% | +18.1% |
| 17 Jul 2026 | −21.8% | +16.2% |
| 22 Jul 2026 | −24.0% | +18.7% |
| 27 Jul 2026 | −23.1% | +17.2% |
| 30 Jul 2026 | −25.5% | +18.5% |
| 4 Aug 2026 | −24.0% | +19.0% |
| 7 Aug 2026 | −24.8% | +15.4% |
| 12 Aug 2026 | −31.8% | +12.0% |
| 17 Aug 2026 | −30.6% | +11.5% |
| 20 Aug 2026 | −32.4% | +12.3% |
| 25 Aug 2026 | −26.6% | +16.7% |
| 28 Aug 2026 | −29.4% | +17.5% |
| 2 Sep 2026 | −25.5% | +23.8% |
| 8 Sep 2026 | −25.7% | +25.3% |
| 11 Sep 2026 | −32.0% | +25.2% |
| 16 Sep 2026 | −34.5% | +24.1% |
| 21 Sep 2026 | −33.9% | +24.8% |
| 24 Sep 2026 | −35.9% | +23.0% |
| 29 Sep 2026 | −34.0% | +22.9% |
| 2 Oct 2026 | −31.7% | +28.5% |
| 7 Oct 2026 | −24.3% | +36.6% |
| 13 Oct 2026 | −22.5% | +38.3% |
| 16 Oct 2026 | −31.8% | +37.4% |
| 21 Oct 2026 | −25.5% | +38.1% |
| 26 Oct 2026 | −43.0% | +18.1% |
| 29 Oct 2026 | −46.5% | +13.1% |
| 30 Oct 2026 | −47.6% | +12.3% |
Valuation
- Price to earningsPrice ÷ last 12 months’ earnings per share
- 5.0×
- Price to bookPrice ÷ equity per share
- 1.8×
- EV to EBITDA
- 3.9×
- PEG ratio
- 0.21
- Dividend yieldLast 12 months
- 19.2%
- Market value
- R$ 4.3 bn
Profitability
- Return on equity
- 36.8%
- Return on assets
- 7.5%
- Gross margin
- 40.4%
- EBITDA margin
- 25.9%
- Net margin
- 22.6%
Growth
- Revenue, latest quarter vs a year ago
- +27.2%
- Earnings, latest quarter vs a year ago
- +24.0%
- Revenue, last full year
- +29.7%
- Earnings, last full year
- +23.6%
Balance sheet
- Cash
- R$ 2.5 bn
- Total debt
- R$ 3.0 bn
- Net debt to EBITDA
- 0.5×
- Debt to equity
- 1.31
- Current ratio
- 4.17
Risk, last 12 months
- Total returnIncluding dividends
- −47.6%
- VolatilityAnnualised, daily returns
- 53%
- Largest fall from a peak
- −52.4%
- Beta to the Ibovespa1.0 moves with the index
- 1.55
- Below its 12-month high
- −56.9%
Dividends
- Paid per share, last 12 months
- R$ 1.5500
Five years of results
| Year | Revenue | Net income | Earnings per share | Equity | Return on equity |
|---|---|---|---|---|---|
| 2025 | R$ 4.3 bn | R$ 979.7 mn | R$ 1.52 | R$ 2.3 bn | 42.2% |
| 2024 | R$ 3.3 bn | R$ 727.7 mn | R$ 3.69 | R$ 2.2 bn | 32.7% |
| 2023 | R$ 2.4 bn | R$ 386.9 mn | R$ 2.06 | R$ 2.1 bn | 18.3% |
| 2022 | R$ 2.2 bn | R$ 255.7 mn | R$ 1.27 | R$ 1.4 bn | 17.6% |
| 2021 | R$ 1.8 bn | R$ 208.8 mn | R$ 1.10 | R$ 1.5 bn | 14.3% |
Annual consolidated statements as reported to the CVM, via brapi.
Company profile
- Sector
- Construção e Imobiliário
- Industry
- Incorporações
- Employees
- 7,000
- Website
- www.direcional.com.br
Data as of the close of 30 Oct 2026. Market data from brapi.dev; financial statements as filed with the CVM. Ratios are provider estimates and may differ from company reports.