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Suzano Papel e Celulose SA
(NYSE:SUZ)
Suzano Papel e Celulose SA (SUZ) vs. SPDR S&P 500 ETF (SPY)
Suzano Papel e Celulose SA Business Overview & Revenue Model
Suzano Papel e Celulose SA Earnings Call Summary
Suzano Papel e Celulose SA Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 49.13B | 47.40B | 39.76B | 49.83B | 40.97B |
| Gross Profit | 15.28B | 20.00B | 14.68B | 25.01B | 20.35B |
| EBITDA | 22.28B | 23.46B | 29.40B | 40.18B | 19.67B |
| Net Income | 13.14B | -7.07B | 14.08B | 23.38B | 8.63B |
Balance Sheet | |||||
| Total Assets | 167.85B | 165.94B | 143.59B | 133.20B | 118.98B |
| Cash, Cash Equivalents and Short-Term Investments | 25.10B | 21.99B | 21.17B | 17.05B | 21.10B |
| Total Debt | 106.22B | 108.41B | 83.42B | 80.76B | 85.52B |
| Total Liabilities | 123.92B | 133.52B | 98.78B | 100.03B | 103.80B |
| Stockholders Equity | 43.79B | 32.28B | 44.69B | 33.06B | 15.08B |
Cash Flow | |||||
| Free Cash Flow | 5.56B | 4.07B | -241.59M | 6.80B | 11.39B |
| Operating Cash Flow | 17.80B | 20.60B | 17.32B | 21.64B | 17.64B |
| Investing Cash Flow | -9.65B | -20.51B | -26.04B | -17.02B | -10.36B |
| Financing Cash Flow | -1.78B | -83.77M | 7.80B | -8.11B | -1.57B |
Suzano Papel e Celulose SA Technical Analysis
Suzano Papel e Celulose SA Risk Analysis
Suzano Papel e Celulose SA Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $5.02B | 18.57 | 9.23% | 1.53% | -3.90% | -25.97% | |
67 Neutral | $12.26B | 4.81 | 31.48% | 1.96% | 6.65% | 47.88% | |
64 Neutral | $5.05B | 38.72 | 8.46% | 1.37% | -3.26% | -46.80% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | $1.53B | 14.64 | 13.86% | 3.51% | -8.92% | -32.30% | |
52 Neutral | $455.20M | -1.97 | -77.52% | 3.26% | 0.39% | -505.56% | |
44 Neutral | $207.38M | 1.93 | -2.50% | ― | -21.76% | -1214.73% |
Suzano Papel e Celulose SA Corporate Events
On March 10, 2026, Suzano S.A. announced that its board of directors, at a meeting held on March 5, 2026, approved the company’s 12th issuance of 179,000 simple, unsecured, non-convertible debentures, each with a unit value of R$1,000, totaling R$179 million, to be offered to professional investors under the automatic registration regime of CVM Resolution 160. The offering will use a bookbuilding procedure with no minimum or maximum lot per investor, and Suzano intends to allocate the net proceeds to reimburse expenses already incurred on a priority infrastructure project recognized by Brazil’s Ministry of Ports and Airports, with the debentures structured to comply with Law 12,431 so that investors may benefit from associated tax incentives, while the company underscores that completion of the issuance remains subject to market conditions and regulatory requirements and reaffirms its commitment to financial discipline and transparency.
The most recent analyst rating on (SUZ) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On March 5, 2026, Suzano’s board of directors met via videoconference with all members present to deliberate a new capital markets operation. The meeting was chaired by David Feffer and included senior executives such as CFO and Investor Relations officer Marcos Moreno Chagas Assumpção as guests.
The board unanimously approved Suzano’s 12th issuance of unsecured, non-convertible debentures totaling BRL 179 million, to be publicly distributed under Brazil’s automatic registration regime with a firm underwriting guarantee. Proceeds will reimburse eligible project expenses incurred within 48 months, and the IPCA-linked securities will be issued in a single series, deposited and traded through B3’s primary and secondary market infrastructure.
Directors also authorized the hiring of underwriters, fiduciary agents, custodians, rating agencies, and legal counsel, and empowered officers to execute all related contracts, including the indenture and distribution agreement. The board further approved the use of non-leveraged hedging derivatives tied to the debentures and ratified prior management acts, signaling continued reliance on domestic debt markets to finance Suzano’s investment pipeline.
The most recent analyst rating on (SUZ) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On March 5, 2026, Suzano’s board approved a second issuance of 2.5 million book-entry rural product notes for financial settlement, in up to two series, totaling R$2.5 billion and aimed exclusively at professional investors under Brazilian CVM rules. The offer, disclosed to the market on March 9, 2026, will follow an automatic registration and bookbuilding process to calibrate allocation between the two series, reflecting Suzano’s status as a large market exposure and frequent fixed-income issuer.
Proceeds from the issuance are earmarked for the formation and exploitation of homogeneous forests and the conservation of native forests, reinforcing Suzano’s alignment of funding strategy with its forestry-based operations and environmental agenda. Completion of the offering remains conditional on market conditions and regulatory and contractual requirements, with the company emphasizing ongoing disclosure to investors and its commitment to financial discipline and transparency.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On March 5, 2026, Suzano’s board met via videoconference with all directors present to approve the company’s second issuance of book-entry rural product notes with financial settlement (CPR-Fs), in up to two series, totaling BRL 2.5 billion. The net proceeds will be allocated to the formation and exploitation of homogeneous forests and the conservation of native forests, reinforcing Suzano’s vertically integrated forestry model and its capacity to fund sustainable raw-material expansion.
The board also authorized hiring underwriters and other service providers, execution of all necessary contracts and amendments, use of derivatives strictly for non-leveraged hedging linked to the notes, and ratified prior management acts related to the issuance. The CPR-Fs will be publicly distributed under Brazil’s automatic registration regime, deposited and traded via B3, with firm underwriting for all 2.5 million notes, providing Suzano with additional, inflation-linked domestic funding tailored to its agribusiness and forestry activities.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano S.A. announced that it will operate its market pulp assets at a production level approximately 3.5% below nominal annual capacity for the entire year of 2026. The move extends a previously disclosed reduction in operating rates from August 6, 2025, reflecting management’s view that bringing back marginal volumes would not generate adequate returns under current market conditions.
By choosing to keep output below full capacity, Suzano signals continued supply discipline in the global pulp market, which may support pricing and capital efficiency but could limit volume growth in the near term. The company emphasized that the decision aligns with its corporate governance practices and reaffirmed its commitment to transparency with shareholders, investors and the broader market.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano’s board of directors met via videoconference and unanimously approved a new share buyback program, authorizing the repurchase of up to 40 million common shares, equivalent to about 6.5% of its free float, through transactions on B3 at market prices until August 10, 2027. The program, to be funded with available profits and capital reserves, aims to enhance shareholder value by efficiently allocating capital, potentially boosting per-share dividends and increasing investors’ ownership stakes if treasury shares are later cancelled, while signaling management’s confidence in the company’s performance and leaving its control structure unchanged.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano’s Board of Directors met in São Paulo, with members attending both in person and via videoconference, alongside its Fiscal Council and representatives from PwC, the company’s independent auditor. The meeting, duly convened under the company’s bylaws, was chaired by David Feffer, with João Vitor Zocca Moreira serving as secretary.
During the session, management presented Suzano’s results for the fiscal year ended December 31, 2025, and the Board unanimously issued a favorable opinion on the management report and the company’s individual and consolidated financial statements, including explanatory notes. With positive recommendations from the Statutory Audit Committee and no reservations from the Fiscal Council, directors authorized the disclosure of these documents and approved their submission to the upcoming Annual General Meeting, underscoring governance alignment ahead of shareholder deliberations on 2025 performance.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano S.A.’s board approved a new share buyback program authorizing the repurchase of up to 40 million common shares, equivalent to about 6.5% of its free float, over an 18‑month period ending August 10, 2027. The program will be executed on B3 at market prices, funded by available profits and capital reserves, and is intended to enhance shareholder value and signal management’s confidence, with the board stating it will not compromise debt commitments or mandatory dividends given Suzano’s liquidity and cash generation.
At the time of approval, Suzano held roughly 28 million treasury shares, about 4.6% of its free float, and identified several major brokerages to intermediate the buybacks. The board emphasized that the company’s financial position is compatible with the planned repurchases, suggesting a disciplined capital allocation strategy that could improve earnings per share and reinforce Suzano’s market positioning in the global pulp and paper sector.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano S.A. filed a Form 6-K with the U.S. Securities and Exchange Commission, incorporating the report into its existing Form F-3 shelf registrations for itself and its Austrian and Dutch subsidiaries. The filing encloses the consent of its independent auditor, management’s report on internal control over financial reporting, the auditor’s report, and consolidated financial statements as of December 31, 2025, reinforcing the company’s disclosure framework and readiness to access U.S. capital markets under its current registration.
The same day, PricewaterhouseCoopers Auditores Independentes Ltda. issued its consent for the use of its February 10, 2026 report on Suzano’s consolidated financial statements and internal controls within these registration statements. This procedural step supports Suzano’s ability to conduct future registered offerings in the United States by ensuring its financial information and internal control attestations are properly audited and legally referenceable for investors and regulators.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
Suzano’s Fiscal Council met between February 6 and February 10, 2026 to review the management report and the individual and consolidated financial statements for the year ended December 31, 2025, along with the unqualified audit opinion issued by PricewaterhouseCoopers. Having found the documents to comply with applicable legal requirements, the council recommended their approval by the company’s general meeting, reinforcing confidence in Suzano’s 2025 financial disclosures.
The Statutory Audit Committee, in permanent operation since 2019 and mostly composed of independent members, reported that it oversaw internal and external audit work, internal controls, fraud risk monitoring and Sarbanes-Oxley certification from February 2025 to February 2026. Meeting nine times over the period, the committee engaged with management and auditors, approved and monitored annual audit plans and concluded that the independent auditors’ unqualified opinion supports the integrity and reliability of Suzano’s 2025 financial statements.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
In its 2025 management report filed on February 10, 2026, Suzano detailed how it navigated a year of heightened geopolitical tension, trade barriers and volatile pulp markets while refining its strategy around two pillars: structural competitiveness and disciplined growth. The company completed efficiency projects at mills in Limeira and Aracruz, saw its Ribas do Rio Pardo mill exceed expectations after finishing its learning curve in December 2024, and improved its forest base via a major standing-wood exchange in Mato Grosso do Sul.
Disciplined expansion included the internationalization of its tissue business through a planned 51% stake in a global joint venture with Kimberly-Clark, expected to consolidate operations across multiple continents, while U.S. paperboard assets acquired in late 2024 delivered positive EBITDA in 2025. Suzano posted adjusted EBITDA of R$21.7 billion and operational cash generation of R$13.9 billion, ended 2025 with net debt of US$12.6 billion and leverage of 3.2x in dollars, extended average debt maturity to 78 months and maintained liquidity of R$32.4 billion.
The company invested R$13.3 billion in maintenance, modernization and portfolio expansion during 2025, highlighting confidence in long-term demand for hardwood pulp and tree-based solutions. Innovation efforts accelerated with new eucalyptus clones, speed-breeding techniques cutting clonal development cycles to seven years, and a landmark CTNBio inquiry on a genetically edited eucalyptus, while FuturaGene and Suzano’s Fiber-to-Fiber strategy supported increased eucalyptus fiber use at over 100 client mills.
Eucalyptus fluff pulp capacity reached 340,000 tons and new board products such as Verto Plus and LIN Design broadened the packaging range, supported by AI-enabled digital tools like the SFO system to optimize customers’ fiber mixes. Suzano discontinued its Suzano Ventures vehicle but continued backing core-related startups, and its innovation track record was recognized as it took first place in the Pulp and Paper category of the Valor Inovação Brasil Award for the fifth straight year and was ranked among Brazil’s five most innovative companies in Estadão’s Empresa Mais awards.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 10, 2026, Suzano reported its consolidated results for the fourth quarter of 2025, highlighting record sales volumes in both pulp and paper despite weaker prices. Pulp sales rose 4% year over year to 3.406 million tonnes and paper sales climbed 10% to 474,000 tonnes, contributing to net revenue of R$13.1 billion in 4Q25, though annual adjusted EBITDA for 2025 fell 9% to R$21.7 billion as margins compressed.
The company continued to reduce its pulp cash cost ex-downtimes to R$778 per tonne, down 4% from 4Q24, underscoring progress on structural competitiveness and cost efficiency. Leverage stood at 3.2 times in both reais and dollars at year-end, with a robust 16.7% last-12-month free cash flow yield and positive 2025 net income of R$13.4 billion, signaling improved balance sheet strength even as returns on invested capital moderated and pricing pressure weighed on profitability.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
Suzano S.A. informed the market on February 9, 2026 that it has concluded the share buyback program launched on August 9, 2024, which had been approved by its Board of Directors. Under this program, the company repurchased 14,820,500 shares in regular stock exchange trading at an average price of R$54.33 per share, for a total consideration of R$805 million.
Following the completion of the August 2024 buyback, Suzano now holds 28,020,765 common shares in treasury. The conclusion of this program consolidates a significant capital allocation move that may signal management’s confidence in the company’s valuation and can affect share liquidity and earnings per share for existing investors.
The most recent analyst rating on (SUZ) stock is a Buy with a $13.40 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
At a board meeting held on January 29, 2026, Suzano S.A.’s directors approved the renewal and expansion of the company’s international financing structure through a new revolving credit facility of up to US$1.8 billion, with an initial five-year term and the option for two one-year extensions. The facility, to be contracted abroad by wholly owned subsidiary Suzano International Finance B.V. or another Suzano subsidiary, will be backed by a corporate guarantee from Suzano and may be accompanied by non-leveraged hedging derivatives, signaling a move to bolster the company’s liquidity, support export-linked operations and enhance financial flexibility for stakeholders. The resolutions were formalized in minutes later filed with the U.S. Securities and Exchange Commission on February 5, 2026.
The most recent analyst rating on (SUZ) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On February 5, 2026, Suzano S.A. announced that it entered into a new stand-by revolving credit facility via its wholly owned subsidiary Suzano International Finance B.V., replacing a facility that had been in place since February 2022. The transaction increases the company’s total stand-by credit availability from US$1.275 billion to US$1.775 billion, with the new facility available until February 2031, carrying a 0.27% annual commitment fee on unused amounts and an interest rate of SOFR plus 0.90% per year on drawn funds. By extending tenor and enlarging committed back-up liquidity, Suzano strengthens its already robust liquidity position, enhances flexibility in cash management for the coming years, and underlines its emphasis on financial discipline and transparency for its investors and other stakeholders.
The most recent analyst rating on (SUZ) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On January 12, 2026, Suzano S.A. informed shareholders and the market that its next Annual General Meeting is scheduled to take place on April 23, 2026, in line with the company’s previously published corporate events calendar. The notice underscores the company’s adherence to Brazilian securities regulation regarding shareholder communication and signals the formal start of its 2026 AGM cycle, with detailed materials and information to be disclosed closer to the meeting date in accordance with applicable law.
The most recent analyst rating on (SUZ) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.
On December 16, 2025, Suzano S.A.’s Board of Directors met via videoconference, with all directors present, alongside senior executives including the company’s president and the executive vice-president of finance and investor relations. At this meeting, the board unanimously approved revisions to Suzano’s Anti-Corruption Policy and its Code of Ethics and Conduct, following favorable recommendations from the Statutory Audit Committee and the Management and Finance Committee. These updates signal a continued strengthening of the company’s governance and compliance framework, underscoring management’s emphasis on ethical standards and internal controls that are relevant to investors, regulators and other stakeholders.
The most recent analyst rating on (SUZ) stock is a Hold with a $9.50 price target. To see the full list of analyst forecasts on Suzano Papel e Celulose SA stock, see the SUZ Stock Forecast page.