Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Direcional Engenharia S.A. (DIRR3.SA)

Company Dividend Discount ModelIndustry: Real Estate - DevelopmentSector: Real Estate

Valuation Snapshot

Stable Growth$175.67 - $287.38$269.32
Multi-Stage$47.95 - $52.42$50.14
Blended Fair Value$159.73
Current Price$16.17
Upside887.82%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS22.49%14.44%0.680.200.130.190.230.250.170.000.080.13
YoY Growth--243.64%49.06%-30.14%-16.80%-7.39%44.41%8,999,900.00%-100.00%-40.35%-27.83%
Dividend Yield--6.51%2.33%2.51%4.72%5.56%8.90%5.97%0.00%4.10%6.42%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)759.37
(-) Cash Dividends Paid (M)646.07
(=) Cash Retained (M)113.30
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)151.8794.9256.95
Cash Retained (M)113.30113.30113.30
(-) Cash Required (M)-151.87-94.92-56.95
(=) Excess Retained (M)-38.5818.3856.35
(/) Shares Outstanding (M)525.50525.50525.50
(=) Excess Retained per Share-0.070.030.11
LTM Dividend per Share1.231.231.23
(+) Excess Retained per Share-0.070.030.11
(=) Adjusted Dividend1.161.261.34
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate5.50%6.50%7.50%
Fair Value$175.67$269.32$287.38
Upside / Downside986.37%1,565.56%1,677.27%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)759.37808.73861.30917.28976.901,040.401,071.61
Payout Ratio85.08%86.06%87.05%88.03%89.02%90.00%92.50%
Projected Dividends (M)646.07696.02749.74807.50869.60936.36991.24

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.19%6.19%6.19%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)649.27655.43661.58
Year 2 PV (M)652.40664.83677.37
Year 3 PV (M)655.46674.28693.45
Year 4 PV (M)658.46683.78709.82
Year 5 PV (M)661.38693.33726.49
PV of Terminal Value (M)21,918.7122,977.3924,076.59
Equity Value (M)25,195.6826,349.0327,545.31
Shares Outstanding (M)525.50525.50525.50
Fair Value$47.95$50.14$52.42
Upside / Downside196.51%210.09%224.17%

High-Yield Dividend Screener

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