Suzano Papel E Celulose (SUZ)
NYSE:SUZ
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Suzano Papel e Celulose SA
(NYSE:SUZ)
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Rating:67Neutral
Price Target:
$10.50
â–²(18.11% Upside)
Action:ReiteratedDate:02/14/26
The score is driven primarily by solid financial performance (strong 2025 rebound and cash generation) but constrained by high leverage and cyclicality. Valuation is a key positive due to the low P/E, while technicals are supportive but look overextended. Earnings-call guidance was broadly constructive with clear deleveraging and cost/CapEx discipline, tempered by near-term maintenance and end-market pricing risks.
Positive Factors
Consistent Operating Cash Generation
Suzano's repeatable operating cash generation and meaningful free cash flow in 2025 provide durable financial flexibility. Strong cash conversion funds deleveraging, targeted buybacks, dividend distributions and trimmed CapEx, supporting long‑term liquidity and strategic investments even through cycles.
Negative Factors
Elevated Leverage
High indebtedness materially increases financial risk during downturns; interest and principal service requirements constrain flexibility for M&A or higher investment. Even with deleveraging progress, sustained cyclical weakness in prices could slow balance‑sheet repair and restrict capital allocation choices.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Operating Cash Generation
Suzano's repeatable operating cash generation and meaningful free cash flow in 2025 provide durable financial flexibility. Strong cash conversion funds deleveraging, targeted buybacks, dividend distributions and trimmed CapEx, supporting long‑term liquidity and strategic investments even through cycles.
Read all positive factors
Suzano Papel e Celulose SA (SUZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.00B
Dividend Yield1.96%
Average Volume (3M)4.26M
Price to Earnings (P/E)4.8
Beta (1Y)0.33
Revenue Growth6.65%
EPS Growth47.88%
CountryUS
Employees35,000
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)0.02
Shares Outstanding1,264,117,700
10 Day Avg. Volume4,016,807
30 Day Avg. Volume4,259,756
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.44
Price to Sales (P/S)1.29
P/FCF Ratio11.38
Enterprise Value/Market Cap12.53
Enterprise Value/Revenue2.99
Enterprise Value/Gross Profit9.32
Enterprise Value/Ebitda5.00
Forecast
1Y Price Target
$11.00Price Target Upside23.73% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.2
Revenue Forecast (FY)$10.75B
Suzano Papel e Celulose SA Business Overview & Revenue Model
Company Description
Suzano S.A. produces and sells eucalyptus pulp and paper products in Brazil and internationally. It operates through Pulp and Paper segments. The company offers coated and uncoated printing and writing papers, paperboards, tissue papers, and marke...
How the Company Makes Money
Suzano makes money primarily by producing and selling eucalyptus kraft pulp (market pulp) to third-party manufacturers, such as producers of tissue, printing and writing papers, packaging papers/boards, and other cellulose-based products. Revenue ...
Suzano Papel e Celulose SA Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call was broadly constructive: operational execution (record pulp shipments, strong free cash flow, lower cash costs, successful turnaround at Pine Bluff, and improved pulp market dynamics) and financial discipline (deleveraging, hedges, dividends and buybacks, CapEx control) are clear positives. Notable near-term challenges remain — weak export paper prices, maintenance-related volume and cost impacts, low inventories, regional oversupply in some packaging grades, and short-term market volatility — but management presented concrete mitigation plans and confidence in competitiveness. Overall, the positives (resilient cash generation, cost reductions, portfolio actions and improving pulp fundamentals) materially outweigh the lowlights.Positive Updates
Record Pulp Shipments and Volumes
Suzano reported record pulp shipment volumes in Q4 2025, with record sales volumes that exceeded production output, driving strong invoicing despite year-end inventory drawdown.
Negative Updates
Paper Prices Weakness and Export Market Pressure
International paper markets remained weak with declining prices and oversupply; export paper prices pressured Brazilian paper unit EBITDA despite higher volumes and Brazilian operations impacted by FX headwinds.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Pulp Shipments and Volumes
Suzano reported record pulp shipment volumes in Q4 2025, with record sales volumes that exceeded production output, driving strong invoicing despite year-end inventory drawdown.
Read all positive updates
Company Guidance
Suzano guided to a broadly stable cost and disciplined-deleveraging path for 2026: management expects average pulp cash production cost roughly in line with 4Q25 (BRL 778/t; 2025 average BRL 817/t, ~5% lower), and reiterated a multiyear TOD reduction program after TOD reached BRL 2,060/t in 2025; planned maintenance concentrated in Q1–Q2 2026 will cut output by almost 300,000 t versus Q2 2025, requiring Q1 inventory build‑up and leaving 0 allocation to spot in some markets. The company flagged improving paper & packaging prices via phased increases (Suzano Packaging prices stable q/q and +21% YoY) and no planned downtimes in Q1 to help cash costs, while pulp invoiced Q4 prices were $538/t (backward‑looking) but recent order intake is at higher set points; pulp EBITDA was BRL 4.8 billion in Q4 (+8% q/q). Financial guidance emphasized strong cash generation and deleveraging: $400 million FCF in 4Q25, year‑end net debt $12.6 billion and leverage 3.2x with an ambition to reach ~$11 billion net debt, 2025 CapEx delivered in line with guidance and 2026 CapEx guidance trimmed ~20% YoY, a $6.2 billion FX hedge portfolio (collars BRL 5.83–6.73/USD) with potential positive cash adjustments of BRL 2.7 billion at BRL 5.50 or >BRL 4 billion at BRL 5.20, BRL 1.4 billion dividends paid (>2% yield), completion of a 15 million‑share buyback and a new program to acquire up to 40 million shares over 18 months, and the K‑C JV on track to close mid‑2026.Suzano Papel e Celulose SA Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
54
Neutral
Cash Flow
67
Positive
| 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
Negative
8.89
Price Trends
10.21
Negative
9.74
Negative
9.44
Positive
Market Momentum
-0.19
Negative
44.38
Neutral
60.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SUZ, the sentiment is Negative. The current price of 8.89 is below the 20-day moving average (MA) of 9.61, below the 50-day MA of 10.21, and below the 200-day MA of 9.44, indicating a neutral trend. The MACD of -0.19 indicates Negative momentum. The RSI at 44.38 is Neutral, neither overbought nor oversold. The STOCH value of 60.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SUZ.
Suzano Papel e Celulose SA Risk Analysis
Suzano Papel e Celulose SA disclosed 45 risk factors in its most recent earnings report. Suzano Papel e Celulose SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Suzano Papel e Celulose SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $12.00B | 4.81 | 31.48% | 1.96% | 6.65% | 47.88% | |
67 Neutral | $5.28B | 18.57 | 9.23% | 1.53% | -3.90% | -25.97% | |
64 Neutral | $5.16B | 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 | $1.67B | 14.64 | 13.86% | 3.51% | -8.92% | -32.30% | |
49 Neutral | $505.59M | -1.97 | -77.52% | 3.26% | 0.39% | -505.56% | |
44 Neutral | $239.29M | -13.93 | -2.50% | ― | -21.76% | -1214.73% |
* Basic Materials Sector Average
SUZ
Suzano Papel e Celulose SA
9.65
0.87
9.96%
CLW
Clearwater Paper
15.00
-9.40
-38.52%
LPX
Louisiana-Pacific
76.97
-6.14
-7.39%
MATV
Mativ Holdings
9.57
5.17
117.55%
UFPI
UFP Industries
95.76
-7.53
-7.29%
SLVM
Sylvamo Corp
43.64
-14.76
-25.28%
Suzano Papel e Celulose SA Corporate Events
Suzano Raises R$2.68 Billion in Long-Term IPCA-Linked CPR-Fs and Debentures
Apr 2, 2026
On April 1, 2026, Suzano settled a R$2.5 billion fundraising via its second issuance of rural product notes (CPR-Fs), split into two IPCA-linked series with ten- and twelve-year maturities and fixed annual interest rates of 7.0464% and 6.8338%, re...
Suzano Board Calls April Shareholder Meeting and Approves Corporate Purpose Expansion
Mar 23, 2026
On March 19, 2026, Suzano’s board met via videoconference in São Paulo to approve the management proposal and convene an Annual and Extraordinary General Meeting for April 23, 2026, to address 2025 accounts, financial statements, profit...
Suzano Approves R$179 Million Debenture Issuance to Reimburse Priority Project Costs
Mar 11, 2026
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, total...
Suzano Board Clears BRL 179 Million IPCA-Linked Debenture Issue to Fund Projects
Mar 11, 2026
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 Rel...
Suzano Approves R$2.5 Billion Rural Notes Issuance to Fund Forestry and Conservation
Mar 10, 2026
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 C...
Suzano Board Approves BRL 2.5 Billion Second CPR-F Issuance for Forestry Investments
Mar 10, 2026
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 bi...
Suzano to Keep 2026 Pulp Production Below Capacity as Market Conditions Weigh on Marginal Volumes
Feb 10, 2026
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 operat...
Suzano Board Backs Major Share Buyback Program to Boost Shareholder Value
Feb 10, 2026
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...
Suzano Board Clears 2025 Financial Statements and Sends Results to AGM
Feb 10, 2026
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 m...
Suzano Launches New Share Buyback Program Covering Up to 6.5% of Free Float
Feb 10, 2026
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. Th...
Suzano S.A. Updates U.S. Shelf Registration With 2025 Financials and Auditor Consent
Feb 10, 2026
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 th...
Suzano Fiscal Council and Audit Committee Back 2025 Results After Unqualified Audit
Feb 10, 2026
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 issu...
Suzano Posts Strong 2025 Results, Advances Global Tissue Expansion and Genetic Innovation
Feb 10, 2026
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 competitivene...
Suzano Posts Record Q4 2025 Pulp and Paper Volumes While Cutting Cash Costs
Feb 10, 2026
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 sale...
Suzano Completes R$805 Million Share Buyback Program Launched in 2024
Feb 10, 2026
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 reg...
Suzano Board Approves US$1.8 Billion Revolving Credit Facility to Strengthen Liquidity
Feb 5, 2026
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...
Suzano Expands Liquidity With New US$1.775 Billion Revolving Credit Facility
Feb 5, 2026
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 transa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.