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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 | $5.82B | 20.60 | 9.03% | 1.53% | -3.90% | -25.97% | |
67 Neutral | $14.15B | 5.84 | 35.49% | 1.96% | 6.65% | 47.88% | |
64 Neutral | $5.92B | 40.63 | 8.58% | 1.37% | -3.26% | -46.80% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | $1.83B | 14.28 | 14.56% | 3.51% | -8.92% | -32.30% | |
52 Neutral | $593.78M | -1.73 | -49.82% | 3.26% | 0.39% | -505.56% | |
44 Neutral | $240.42M | -11.94 | -10.47% | ― | -21.76% | -1214.73% |
Suzano Papel e Celulose SA Corporate Events
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.
On December 11, 2025, Suzano S.A. announced its strategic focus on expanding pulp capacity in Latin America and Asia, with an emphasis on accelerating new integrated capacity in China. The company aims to enhance competitiveness and drive value creation amidst a challenging market landscape characterized by wood cost pressures and low EBITDA margins. Suzano’s strategy includes deleveraging, extracting value from previous capital allocations, and accelerating its fiber-to-fiber strategy, which is expected to impact the market significantly over the next few years.
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.
On December 11, 2025, Suzano S.A. announced its updated long-term estimates for operational expenditure in its pulp business, projecting a total operational expenditure of R$1,983 per tonne by 2027. This estimate includes costs related to pulp production, logistics, selling, administrative expenses, and maintenance capex. The update reflects adjustments for inflation, exchange rate variations, and operational cost management initiatives, highlighting Suzano’s strategic focus on enhancing structural competitiveness. The announcement underscores Suzano’s commitment to transparency with stakeholders and its proactive approach to maintaining competitiveness in the industry.
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.
On December 10, 2025, Suzano S.A. announced that its Board of Directors approved the distribution of interim dividends totaling BRL 1.38 billion, equating to BRL 1.11658725 per share. These dividends, derived from retained earnings as of September 30, 2025, will contribute to the mandatory dividend for the fiscal year ending December 31, 2025. Payment is scheduled for February 4, 2026, with shares trading ‘ex-dividend’ from December 19, 2025. This decision underscores Suzano’s commitment to returning value to its shareholders and may impact its market positioning positively.
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.
On December 10, 2025, Suzano S.A. announced a significant capital increase of BRL 5 billion, approved by its Board of Directors. This increase is achieved through the capitalization of existing reserves, aiming to optimize the company’s equity structure and strengthen its financial position without issuing new shares. The move is expected to enhance Suzano’s financial stability, benefiting stakeholders by maintaining the existing shareholding structure and avoiding dilution.
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.
On December 10, 2025, Suzano S.A.’s Board of Directors approved a significant increase in the company’s share capital by BRL 5 billion through the capitalization of profit reserves, without issuing new shares. This strategic move aims to strengthen Suzano’s financial position, potentially enhancing its market competitiveness and providing a robust foundation for future growth. The decision reflects the company’s commitment to leveraging its financial reserves to bolster its capital structure, which may have positive implications for stakeholders and investors.
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.
On December 10, 2025, Suzano S.A.’s Board of Directors approved the distribution of interim dividends totaling BRL 1.38 billion, equivalent to BRL 1.11658725 per share, from retained earnings as of September 30, 2025. The payment is scheduled for February 4, 2026, with shares trading ‘ex-dividends’ from December 19, 2025. This decision reflects Suzano’s commitment to returning value to its shareholders and may enhance its attractiveness to investors.
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.
On December 9, 2025, Suzano S.A. announced its capital expenditure estimates for the fiscal years 2025 and 2026, maintaining a total of R$13.3 billion for 2025 and approving R$10.9 billion for 2026. The reduction in 2026’s CAPEX is attributed to decreased forestry maintenance expenses and lower investment intensity in modernization projects. This strategic financial planning is expected to bolster Suzano’s long-term competitiveness and operational efficiency, particularly in its forestry base expansion and modernization efforts.
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.
On December 9, 2025, Suzano S.A.’s Board of Directors convened to approve the company’s Annual Budget for the fiscal year 2026. The meeting, chaired by David Feffer, resulted in a unanimous decision to authorize the proposed budget, allowing the Vice-Presidency to proceed with planned investments and expenditures. This strategic move is expected to enhance Suzano’s operational efficiency and strengthen its market position.
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.