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DTCOM - Direct to Company (DTCY3) Fair Value & Analysis

Communication Services · BR · Market cap R$26.7M

DD DTCOM - Direct to Company DTCY3 · SA
PriceR$2.30
Fair ValueR$1.15
Upside-50.0%
Quality60/100
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Weak Growth
Loss-making · -8.2% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 10/100
Evidence: Low Range R$0.9600 – R$1.33 Share as image

Fair value as of: Jul 16, 2026

From 3 valuation models · updated 25 days ago

Share price −6.1% over the past month.

A solid business, but screening 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (R$1.33). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

R$14.00 R$1.82 Fair Value R$1.15 Jul 2015 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range R$1.82 – R$14.00 · fair‑value band R$0.9600 – R$1.33 · the R$2.30 price screens above the R$1.15 fair value. Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

DTCOM - Direct to Company (DTCY3) currently trades at R$2.30, while our model-based Fair Value estimate is R$1.15, implying the stock looks roughly 50.0% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, DTCOM - Direct to Company generated revenue of R$7.9M at a net margin of -8.2%. Revenue declined 1.2% year over year. It earns a return on equity of -80.3%. The balance sheet holds a net cash position of R$4.4M. Fundamentals as of Jul 16, 2026

Our scenario range runs from R$0.9600 (bear case) to R$1.33 (bull case); at R$2.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -50%, DTCY3 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EV/EBITDA R$0.9600 R$1.15 R$1.33 54
NCAV (Graham) R$0.0400 R$0.0600 R$0.0900 50
Owner Earnings R$0.4900 R$0.5000 R$0.5300 31
All 3 models by family
DCF Models
Owner Earnings R$0.4900 R$0.5000 R$0.5300 31
Multiples
EV/EBITDA R$0.9600 R$1.15 R$1.33 54
Asset-Based
NCAV (Graham) R$0.0400 R$0.0600 R$0.0900 50

Widest divergence: Multiples (R$1.15) versus Asset-Based (R$0.0600). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

Revenue (TTM) R$7.9M
Revenue growth (YoY) -1.2%
Net margin -8.2%
Return on equity -80.3%
Free cash flow −R$971K FY2025
Operating margin -24.4%
More key figures
EPS (TTM) R$-0.0600
Net cash R$4.4M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 58 · Market factors (momentum, volatility) 37

Profitability 30
Margins and returns on capital today
Quality Growth 99
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

DTCOM - Direct to Company S.A. provides educational technology solutions in Brazil. It operates through three segments: Academic Factory, Corporate Factory, and Collection/Systems.

Full company description

DTCOM - Direct to Company S.A. provides educational technology solutions in Brazil. It operates through three segments: Academic Factory, Corporate Factory, and Collection/Systems. The company offers DTCOM Factory, a digital learning solutions platform that provides customized content for courses and subjects from a base text, as well as learning objects including videos, podcasts, quizzes, infographics, and virtual and augmented reality; DTCOM 2Go, a virtual teaching platform; and WayCO, a platform that offers resource, production, and content management, as well as automatic HTLM5 generation. It serves academic institutions and corporate clients. The company was incorporated in 1999 and is headquartered in Quatro Barras, Brazil.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DTCOM - Direct to Company reported revenue of R$8.0M in FY2025 versus R$9.6M in FY2021, a compound −4.5%/yr. Reported net income was −R$303K in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
R$8.0M
Latest YoY
+34.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−6.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−13.7%
Avg. growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.0%
Revenue −4.5%/yr
FY21 R$9.6M
FY22 R$9.8M
FY23 R$6.3M
FY24 R$5.9M
FY25 R$8.0M
Net income
FY21 −R$5.4M
FY22 −R$1.0M
FY23 −R$4.0M
FY24 −R$1.1M
FY25 −R$303K

DTCY3 screens 50% overvalued. Compare with China Mobile Limited →

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Cite: Fair Value Calculator (2026). "DTCOM - Direct to Company Fair Value". https://www.fairvalue-calculator.com/stock/DTCY3

Peer Group

Telecom Services · 250 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Above median
Fair Value upside −50% · Bottom 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) -24% · Bottom 25%
Revenue growth -1% · Below median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/B 5.51× · Pricier than 75% of peers
P/S (TTM) 0.66× · Cheaper than median
EV/EBITDA 4.8× · Cheaper than median
PEG 1.41× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 29
FUTURE 0 · sector 15
PAST 0 · sector 28
HEALTH 100 · sector 88
DIVIDEND 0 · sector 73

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is DTCOM - Direct to Company (DTCY3) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of R$1.15 versus a price of R$2.30, about −50% (overvalued).
What is the fair value of DTCY3?
Our model-based fair value for DTCOM - Direct to Company is R$1.15 (as of Jul 16, 2026), built from audited fundamentals. The current price is R$2.30.
What is the quality score of DTCY3?
DTCOM - Direct to Company has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of DTCOM - Direct to Company (DTCY3)?
DTCOM - Direct to Company reported trailing-twelve-month revenue of about R$7.9M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of DTCY3?
The net profit margin of DTCOM - Direct to Company is about -8.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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