Financials Suzano S.A. Buenos Aires S.E.

Equities

SUZ

ARBCOM4602E8

Paper Products

End-of-day quote Buenos Aires S.E. 06:00:00 2024-07-10 pm EDT 5-day change 1st Jan Change
13,550 ARS +1.31% Intraday chart for Suzano S.A. -4.10% +26.93%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 53,537 78,983 81,102 63,163 71,727 68,037 - -
Enterprise Value (EV) 1 111,806 142,836 139,631 120,685 127,730 129,464 122,319 116,055
P/E ratio -19 x -7.36 x 9.4 x 2.75 x 5.13 x 8.3 x 7.96 x 7.09 x
Yield 1.13% - 1.23% 3.72% - 2.82% 2.48% 2.63%
Capitalization / Revenue 2.06 x 2.59 x 1.98 x 1.27 x 1.8 x 1.5 x 1.39 x 1.3 x
EV / Revenue 4.3 x 4.69 x 3.41 x 2.42 x 3.21 x 2.86 x 2.5 x 2.22 x
EV / EBITDA 10.4 x 9.55 x 5.95 x 4.28 x 6.99 x 5.77 x 5.03 x 4.32 x
EV / FCF 41.3 x 17.4 x 12 x 17.5 x -935 x 85.3 x 13.1 x 9.55 x
FCF Yield 2.42% 5.76% 8.36% 5.71% -0.11% 1.17% 7.65% 10.5%
Price to Book 2.98 x 10.9 x 5.38 x 1.94 x 1.61 x 1.38 x 1.21 x 1.09 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 53.01 53.01 53.01
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 45,267 48,843 52,220
EBITDA 1 10,724 14,949 23,471 28,195 18,273 22,422 24,297 26,881
EBIT 1 2,629 8,407 18,128 22,223 12,216 13,683 15,035 17,397
Operating Margin 10.1% 27.6% 44.25% 44.6% 30.73% 30.23% 30.78% 33.32%
Earnings before Tax (EBT) 1 -4,097 -17,642 8,833 28,656 17,997 10,277 11,778 13,590
Net income 1 -2,815 -10,715 8,626 23,382 14,085 7,898 8,616 9,595
Net margin -10.82% -35.18% 21.06% 46.92% 35.43% 17.45% 17.64% 18.37%
EPS 2 -2.088 -7.949 6.392 17.57 10.85 6.385 6.656 7.477
Free Cash Flow 1 2,708 8,229 11,679 6,892 -136.7 1,518 9,357 12,152
FCF margin 10.41% 27.02% 28.51% 13.83% -0.34% 3.35% 19.16% 23.27%
FCF Conversion (EBITDA) 25.25% 55.05% 49.76% 24.44% - 6.77% 38.51% 45.21%
FCF Conversion (Net income) - - 135.39% 29.48% - 19.23% 108.61% 126.65%
Dividend per Share 2 0.4500 - 0.7412 1.795 - 1.493 1.315 1.394
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
Net sales 1 11,470 9,743 11,520 14,199 14,370 11,276 9,160 8,948 10,372 9,459 11,170 13,304 12,033 12,044
EBITDA 1 6,355 5,121 6,303 8,596 8,175 6,155 3,919 3,695 4,505 4,334 5,877 - - -
EBIT 1 4,822 3,389 4,587 6,947 7,299 4,306 3,069 1,683 3,158 2,552 3,435 4,593 2,934 3,224
Operating Margin 42.04% 34.79% 39.82% 48.93% 50.79% 38.19% 33.5% 18.81% 30.45% 26.98% 30.75% 34.52% 24.38% 26.77%
Earnings before Tax (EBT) 2,097 - - 5,420 9,299 6,776 7,604 - - - - - - -
Net income 1 2,310 10,305 175.6 5,445 7,456 5,237 5,100 -733 4,507 215.4 -4,104 - - -
Net margin 20.14% 105.77% 1.52% 38.35% 51.89% 46.45% 55.68% -8.19% 43.46% 2.28% -36.74% - - -
EPS 2 1.712 7.636 0.1427 4.131 5.666 3.968 3.904 -0.5685 3.489 0.1675 1.287 1.848 1.253 1.450
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 56,003 61,427 54,282 48,018
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.434 x 4.271 x 2.494 x 2.04 x 3.065 x 2.74 x 2.234 x 1.786 x
Free Cash Flow 1 2,708 8,229 11,679 6,892 -137 1,519 9,357 12,152
ROE (net income / shareholders' equity) -18.8% -85% 77.3% 92.3% 54.4% 16.5% 15.9% 16.7%
ROA (Net income/ Total Assets) -3.71% -10.7% 8.02% 17.6% 9.45% 6.1% 7.18% 6.97%
Assets 1 75,921 99,854 107,592 132,741 149,005 129,507 120,034 137,635
Book Value Per Share 2 13.30 5.360 11.20 24.90 34.50 38.30 43.90 48.40
Cash Flow per Share 2 5.620 9.730 13.10 16.30 13.30 14.00 16.60 16.40
Capex 1 4,868 4,896 5,958 14,749 17,452 16,768 10,202 9,321
Capex / Sales 18.72% 16.07% 14.54% 29.6% 43.9% 37.04% 20.89% 17.85%
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
53.01 BRL
Average target price
69.8 BRL
Spread / Average Target
+31.67%
Consensus