2025 on the Stock Market: Where to Find Cheap Stocks with Real Growth Potential

The Brazilian stock exchange in 2025 offers a rare window for investors who understand the difference between “cheap” and “opportunity.” While many focus solely on low prices, more experienced investors seek stocks traded significantly below their book value — a sign that the market has yet to properly price the companies’ potential.

The recovery of sectors such as construction, energy, and retail has created a scenario where dozens of companies are available at substantial discounts. The challenge now is to separate the wheat from the chaff: distinguish between stocks that are cheap because they are truly undervalued and those that are cheap because they deserve to be.

Why 2025 is the Year of Opportunities in Cheap Stocks

Investing in cheap stocks with growth potential is not just a matter of saving capital. It’s a strategy that offers three simultaneous advantages:

Return Multiplication — Small or recovering companies have exponential growth room. A stock that rises from R$1 to R$3 generates 200% return; one from R$50 to R$75 yields only 50%. The percentage gain is proportionally higher in more accessible stocks.

Lower Financial Risks — True diversification only happens when you can allocate capital across multiple positions without jeopardizing your assets. Cheap stocks allow you to build a portfolio with 10, 15, or 20 different positions, significantly reducing idiosyncratic risk.

Accelerated Learning — Less-followed stocks require deeper fundamental analysis. Those investing in cheap stocks are forced to study financial statements, understand sector dynamics, and follow news rigorously. This develops skills that pay dividends throughout an investor’s career.

The 20 Most Discounted Stocks on B3 in January 2025

The most reliable metric to identify truly cheap stocks is the P/BV (Price over Book Value per Share). When a company is traded with a low P/BV, it means the market is paying little for the company’s net assets — a possible sign of devaluation.

Check out the full ranking:

The 5 Main Case Studies in 2025

PDG Realty (PDGR3): Value Reconstruction

With a P/BV of 0.00, PDG Realty is the most extreme case in the market. The company underwent significant restructuring, and its price reflects market skepticism. However, this also means that any sign of operational recovery could generate monumental gains. Investors who understand the construction sector see positive signals in margins and cash flow.

Americanas (AMER3): From the Valley of Death to Recovery

After judicial recovery in 2023, AMER3 returned to trading with a new cost structure and digital focus. The P/BV of 0.05 still reflects recent history, but operational numbers have improved consistently. The company is in transition, and transitional stocks tend to be the cheapest — and potentially the most profitable.

Helbor (HBOR3): Operational Strength, Depressed Price

The builder operates on multiple fronts of the real estate market with solid operational indicators. Even with a discount of P/BV 0.15, the company maintains financial discipline and cash generation. It’s a classic example of a cheap stock because the market is pessimistic about the sector, not about the company specifically.

HBR Realty (HBRE3): Exposure to the Corporate Market

Focused on corporate and logistics properties, HBR Realty continues expanding its asset base. With a P/BV of 0.19 and a strong presence in high-demand segments, it offers diversification for those seeking exposure to the real estate sector without betting everything on residential construction.

Gerdau (GOAU3): Steel in the Infrastructure Recovery

The steel company benefits directly from infrastructure cycles in the country. With consistent profits and a P/BV of just 0.20, GOAU3 presents a simple thesis: invest in a profitable company that is being ignored by the market for cyclical reasons, not structural problems.

Beyond the Table: Stocks Below R$10 That Call Attention

Besides P/BV, another filter used by growth investors is stock price below R$10. This metric isn’t fundamental, but it offers liquidity and accessibility:

• Serena Energia $10 SRNA3( — Focus on renewable energy
• Marfrig )MRFG3( — Leader in food
• Gafisa )GFSA3( — Construction
• Mobly )MBLY3( — Furniture e-commerce
• Multilaser )MLAS3( — Electronics

These companies operate in various sectors, allowing true portfolio diversification without requiring high capital.

Indicators That Differentiate Real Opportunities

Low price alone doesn’t guarantee return. Before investing in cheap stocks with growth potential, rigorously evaluate:

P/BV and P/E — Compare the stock’s multiple with the company’s historical average and sector. If GOAU3 trades at a P/BV of 0.20 while its historical average is 0.60, there’s a sign of real devaluation.

Debt/EBITDA and Cash Flow — A cheap stock because it’s broke is a trap, not an opportunity. Check if the company generates enough cash flow to cover its obligations.

ROE )Return on Equity( — Companies with high ROE traded at low P/BV are the best combinations. They mean the company is profitable, but the market doesn’t believe in its continuity.

Governance and Management — Recent decisions on restructuring, mergers, or leadership changes indicate future direction. PDG Realty and Americanas are under new management — this can be positive or negative depending on the history.

The Sector Outlook in 2025

Construction stands out with multiple opportunities: PDG Realty, Helbor, Gafisa, and HBR Realty are among the cheapest precisely because the sector suffered from high interest rates and unemployment. With signs of improvement, these stocks could recover value quickly.

Retail and commerce )Americanas, Via, Pão de Açúcar( are undergoing a business model transition. Cheap stocks reflect uncertainty, not sector death.

Steel )Gerdau, Usiminas( remains dependent on infrastructure cycles, but with maintained profits, they offer a margin of safety.

Investment Strategy in Cheap Stocks

For Beginners — Choose 5 to 7 stocks from the list, allocate capital equally, and review every quarter as results are released. The goal is to learn.

For Intermediates — Research 3 specific sectors, pick 2 stocks per sector, and apply rigorous fundamental analysis. Look for companies with low P/BV BUT positive ROE.

For Advanced — Identify specific catalysts )restructuring, CEO change, new contract(. Cheap stocks with upcoming catalysts are pure gold.

Conclusion: Timing Matters, But More So Is the Analysis

Investing in cheap stocks with growth potential in 2025 requires a balance between opportunism and prudence. The market offers dozens of discounted stocks, but not all will recover. Those that do can multiply your capital significantly.

The key is to understand WHY the stock is cheap. If it’s cheap because the company is failing, stay away. If it’s cheap because the market is pessimistic about the sector but the specific company is solid, there’s opportunity.

With careful analysis of fundamental indicators, regular monitoring of results, and a long-term horizon, cheap stocks cease to be speculative bets and become strategic positions in a well-constructed portfolio.