Financials Suzano S.A.

Equities

SUZB3

BRSUZBACNOR0

Paper Products

Market Closed - Sao Paulo 04:07:52 2024-05-15 pm EDT 5-day change 1st Jan Change
50.54 BRL +1.36% Intraday chart for Suzano S.A. -3.40% -9.15%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 53,537 78,983 81,102 63,163 71,727 64,866 - -
Enterprise Value (EV) 1 111,806 142,836 139,631 120,685 71,727 124,220 120,750 115,377
P/E ratio -19 x -7.36 x 9.4 x 2.75 x 5.13 x 9.51 x 8.16 x 7.51 x
Yield 1.13% - 1.23% 3.72% - 2.79% 2.57% 2.42%
Capitalization / Revenue 2.06 x 2.59 x 1.98 x 1.27 x 1.8 x 1.53 x 1.35 x 1.26 x
EV / Revenue 4.3 x 4.69 x 3.41 x 2.42 x 1.8 x 2.94 x 2.52 x 2.24 x
EV / EBITDA 10.4 x 9.55 x 5.95 x 4.28 x 3.93 x 6.17 x 5.1 x 4.39 x
EV / FCF 41.3 x 17.4 x 12 x 17.5 x - -81.9 x 14.2 x 10 x
FCF Yield 2.42% 5.76% 8.36% 5.71% - -1.22% 7.06% 10%
Price to Book 2.98 x 10.9 x 5.38 x 1.94 x - 1.34 x 1.17 x 1.12 x
Nbr of stocks (in thousands) 1,349,222 1,349,222 1,349,222 1,309,352 1,289,352 1,283,468 - -
Reference price 2 39.68 58.54 60.11 48.24 55.63 50.54 50.54 50.54
Announcement Date 2/12/20 2/10/21 2/9/22 2/28/23 2/28/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 26,013 30,460 40,965 49,831 39,756 42,304 47,923 51,423
EBITDA 1 10,724 14,949 23,471 28,195 18,273 20,134 23,695 26,295
EBIT 1 2,629 8,407 18,128 22,223 12,216 12,256 14,883 16,377
Operating Margin 10.1% 27.6% 44.25% 44.6% 30.73% 28.97% 31.06% 31.85%
Earnings before Tax (EBT) 1 -4,097 -17,642 8,833 28,656 17,997 8,038 9,881 10,985
Net income 1 -2,815 -10,715 8,626 23,382 14,085 6,009 7,440 8,418
Net margin -10.82% -35.18% 21.06% 46.92% 35.43% 14.2% 15.53% 16.37%
EPS 2 -2.088 -7.949 6.392 17.57 10.85 5.313 6.190 6.732
Free Cash Flow 1 2,708 8,229 11,679 6,892 - -1,518 8,525 11,537
FCF margin 10.41% 27.02% 28.51% 13.83% - -3.59% 17.79% 22.43%
FCF Conversion (EBITDA) 25.25% 55.05% 49.76% 24.44% - - 35.98% 43.87%
FCF Conversion (Net income) - - 135.39% 29.48% - - 114.57% 137.05%
Dividend per Share 2 0.4500 - 0.7412 1.795 - 1.408 1.300 1.222
Announcement Date 2/12/20 2/10/21 2/9/22 2/28/23 2/28/24 - - -
1BRL in Million2BRL
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 11,470 9,743 11,520 14,199 14,370 11,276 9,160 8,948 10,372 9,459 11,287 11,965 11,630 - -
EBITDA 1 6,355 5,121 6,303 8,596 8,175 6,155 3,919 3,695 4,505 4,334 4,608 4,827 - - -
EBIT 1 4,822 3,389 4,587 6,947 7,299 4,306 3,069 1,683 3,158 2,552 4,128 4,620 2,623 - -
Operating Margin 42.04% 34.79% 39.82% 48.93% 50.79% 38.19% 33.5% 18.81% 30.45% 26.98% 36.58% 38.62% 22.55% - -
Earnings before Tax (EBT) 2,097 - - 5,420 9,299 6,776 7,604 - - - - - - - -
Net income 2,310 10,305 175.6 5,445 7,456 5,237 5,100 -733 4,507 215.4 - - - - -
Net margin 20.14% 105.77% 1.52% 38.35% 51.89% 46.45% 55.68% -8.19% 43.46% 2.28% - - - - -
EPS 2 1.712 7.636 0.1427 4.131 5.666 3.968 3.904 -0.5685 3.489 0.1675 0.7640 1.142 0.9953 1.270 1.540
Dividend per Share 0.7412 - - - 1.795 - - - - - - - - - -
Announcement Date 2/9/22 5/4/22 7/27/22 10/27/22 2/28/23 4/27/23 8/2/23 10/26/23 2/28/24 5/9/24 - - - - -
1BRL in Million2BRL
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 58,269 63,853 58,530 57,522 - 59,354 55,883 50,511
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.434 x 4.271 x 2.494 x 2.04 x - 2.948 x 2.358 x 1.921 x
Free Cash Flow 1 2,708 8,229 11,679 6,892 - -1,518 8,525 11,537
ROE (net income / shareholders' equity) -18.8% -85% 77.3% 92.3% - 14.3% 15.7% 15.8%
ROA (Net income/ Total Assets) -3.71% -10.7% 8.02% 17.6% - 6.25% 7.3% 6.78%
Assets 1 75,921 99,854 107,592 132,741 - 96,137 101,924 124,080
Book Value Per Share 2 13.30 5.360 11.20 24.90 - 37.60 43.20 45.00
Cash Flow per Share 2 5.620 9.730 13.10 16.30 - 13.90 14.70 13.20
Capex 1 4,868 4,896 5,958 14,749 - 16,695 10,004 9,576
Capex / Sales 18.72% 16.07% 14.54% 29.6% - 39.46% 20.88% 18.62%
Announcement Date 2/12/20 2/10/21 2/9/22 2/28/23 2/28/24 - - -
1BRL in Million2BRL
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
50.54 BRL
Average target price
67.98 BRL
Spread / Average Target
+34.51%
Consensus
  1. Stock Market
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  4. Financials Suzano S.A.
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