Suzano S.A. Sponsored ADR (SUZ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 23	$0.7	$0.7	0.0%	—	$10.4B	—
Q3 23	-$0.08	-$0.12	-50.0%	—	$8.9B	—
Q2 23	$0.98	$0.79	-19.4%	—	$9.2B	—
Q1 23	$0.92	$0.79	-14.1%	—	$11.3B	—
Q4 22	$1.02	$1.08	+5.9%	—	$14.4B	—
Q3 22	$0.46	$0.78	+69.6%	—	$14.2B	—
Q2 22	-$0.23	$0.03	+113.0%	—	$11.5B	—
Q1 22	$1.72	$1.46	-15.1%	—	$9.7B	—
Q4 06	-$0.17	-$0.53	-211.8%	—	—	—
Q3 06	-$0.13	-$0.11	+15.4%	—	—	—
Q2 06	$0.07	$0.1	+42.9%	—	—	—
Q1 06	$0.06	$0.04	-33.3%	—	—	—
Q4 05	$0.07	$0.07	0.0%	—	—	—
Q3 05	$0.04	$0.06	+50.0%	—	—	—
Q2 05	$0.08	$0.1	+25.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$10.8	—	—	$50.1B	—
FY24	—	-$5.59	—	—	$47.4B	—
FY23	—	$10.9	—	—	$39.8B	—
FY22	—	$17.6	—	—	$49.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$9.8B	$10.6B	$13.4B	$26B	$30.5B	$41B	$49.8B	$39.8B	$47.4B	$50.1B
YoY change	-3.77%	+7.54%	+27.1%	+93.5%	+17.1%	+34.5%	+21.6%	-20.2%	+19.2%	+5.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	9.8B	10.6B	13.4B	26B	30.5B	41B	49.8B	39.8B	47.4B	50.1B
Cost of revenue	6.6B	6.5B	6.9B	20.7B	19B	20.6B	24.8B	25.1B	27.4B	33.9B
Gross profit	3.3B	4.1B	6.5B	5.3B	11.5B	20.3B	25B	14.7B	20B	16.2B
Gross margin	33.3%	38.6%	48.5%	20.3%	37.7%	49.7%	50.2%	36.9%	42.2%	32.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	813.2M	917.4M	1.4B	3.1B	2.6B	2.8B	3.1B	3.4B	4.5B	5B
Operating expenses	1.6B	906.1M	1.3B	2.9B	2.6B	2.8B	3.1B	3.3B	4.3B	5.1B
Operating income	1.7B	3.1B	5.1B	2.3B	7.9B	16.5B	20.9B	10.7B	14.6B	10.1B
Operating margin	16.8%	29.6%	38.3%	9%	26%	40.3%	41.9%	27%	30.8%	20.1%
Non-operating income, net	1.9B	37.2M	-3.9B	-2.7B	-21.3B	-3.7B	11.4B	10.1B	-23.9B	15.3B
Pretax income	2.4B	2.3B	165.3M	-4.1B	-17.6B	8.8B	28.7B	18B	-13.1B	20.4B
Income tax	718.9M	438.6M	-154.5M	-1.3B	-6.9B	197.4M	5.3B	3.9B	-6.1B	7B
Net income	1.7B	1.8B	319.8M	-2.8B	-10.7B	8.6B	23.4B	14.1B	-7B	13.4B
Net margin	17.1%	17.2%	2.38%	-10.8%	-35.2%	21.1%	46.9%	35.5%	-14.9%	26.8%
EBITDA	3B	4.6B	6.6B	10.3B	14.3B	23.4B	29.1B	19.3B	24.9B	22.1B
EPS	1.54	1.67	0.29	-2.09	-7.95	6.39	17.6	10.9	-5.59	10.8
Diluted EPS	1.53	1.66	0.29	-2.09	-7.95	6.39	17.6	10.9	-5.59	10.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	8.9B	10.4B	9.5B	11.5B	2.4B	14.2B	11.6B	13.3B	—	13.1B	11B	11.6B
Cost of revenue	6.1B	6.8B	5.7B	6.1B	1.3B	8.8B	7.7B	8.6B	—	9.1B	7.8B	8.8B
Gross profit	2.8B	3.6B	3.8B	5.4B	1B	5.4B	3.8B	4.7B	—	4B	3.2B	2.8B
Gross margin	31.8%	34.7%	39.7%	47%	44.2%	38.2%	33.1%	35.3%	—	30.6%	28.8%	24.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.1B	1.1B	883.1M	1.3B	248.4M	1.6B	1.2B	1.5B	—	1.4B	1.2B	1.1B
Operating expenses	1.2B	2.1B	847.5M	793.6M	250M	2B	1.2B	1.6B	—	1.2B	1.1B	-41M
Operating income	1.7B	1.6B	2.6B	4.6B	789.2M	3.2B	2.4B	3B	—	2.5B	1.8B	2.6B
Operating margin	18.9%	15.1%	27.9%	40.1%	33.6%	22.2%	20.8%	22.9%	—	19.2%	16.7%	22.4%
Non-operating income, net	-2.8B	4.4B	-2.4B	-10.4B	383.5M	-13B	8.8B	5.5B	—	-1.1B	5.8B	1.4B
Pretax income	-1.8B	5.4B	-487.8M	-6.5B	953.2M	-11.1B	10B	7.3B	—	134.5M	6.4B	2.8B
Income tax	-1.1B	912.6M	-707.9M	-2.7B	333.2M	-4.4B	3.6B	2.3B	—	18.3M	2.1B	970.7M
Net income	-728.8M	4.5B	220M	-3.8B	620M	-6.7B	6.3B	5B	—	116.2M	4.3B	1.8B
Net margin	-8.14%	43.5%	2.33%	-32.8%	26.4%	-47.5%	54.9%	37.7%	—	0.89%	39.3%	15.6%
EBITDA	4B	3.8B	4.9B	7.2B	1.3B	6.2B	5.2B	6.1B	5.3B	5.7B	4.9B	6.1B
EPS	-0.56	—	0.17	-2.94	2.58	—	5.12	4.05	—	0.09	3.48	1.46
Diluted EPS	-0.56	—	0.17	-2.94	2.57	—	5.12	4.04	—	0.09	3.48	1.45

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	27.3B	38.3B	63.3B	—	88.2B	85.2B	71.8B	83.3B	—	11.6B	10.6B
Enterprise value	37.6B	47.8B	73.5B	—	157.2B	149.6B	135.5B	145.6B	—	88.2B	16.2B
Shares outstanding	6.4B	6.4B	6.4B	7.9B	7.9B	7.9B	7.8B	7.3B	1.3B	1.2B	1.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	16.3	21	197.8	—	—	9.86	3.07	5.91	—	0.86	6.8
P/S	2.78	3.62	4.71	—	2.89	2.08	1.44	2.1	—	0.23	0.22
P/B	2.69	3.3	5.26	—	12	5.61	2.17	1.86	—	0.26	1.13
EV/EBITDA	12.4	10.3	11.2	—	11	6.38	4.66	7.55	—	3.99	4.23
EV/Sales	3.83	4.51	5.47	—	5.16	3.65	2.72	3.66	—	1.76	1.76
Earnings yield	6.14%	4.76%	0.51%	—	—	10.1%	32.6%	16.9%	—	116.3%	14.7%
FCF yield	2.75%	3.36%	4.34%	—	9.33%	13.4%	9.47%	-0.29%	—	48.3%	0.32%
PEG	—	—	—	—	—	—	—	—	—	—	-0.11

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	33.3%	38.6%	48.5%	20.3%	37.7%	49.7%	50.2%	36.9%	42.2%	32.4%	24.4%
Operating margin	16.8%	29.6%	38.3%	9%	26%	40.3%	41.9%	27%	30.8%	20.1%	26.7%
Net margin	17.1%	17.2%	2.38%	-10.8%	-35.2%	21.1%	46.9%	35.5%	-14.9%	26.8%	17.1%
ROE	16.5%	15.7%	2.66%	-15.6%	-146%	56.9%	70.5%	31.5%	-21.7%	30.6%	17.6%
ROA	5.71%	6.38%	0.59%	-2.87%	-10.5%	7.26%	17.6%	9.82%	-4.25%	8%	3.15%
ROIC	5.66%	12%	23.1%	3.07%	10.4%	20.3%	17.6%	7.86%	12.3%	5.51%	5.51%
Return on tangible assets	5.79%	6.47%	0.6%	-4.53%	-15.8%	9.99%	22.9%	12.4%	-5.12%	9.47%	9.47%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.1	1.83	5.08	1.65	2.2	2.95	2.56	2.61	1.72	3.19	3.38
Quick ratio	1.75	1.51	4.78	1.24	1.71	2.55	2.17	2.2	1.4	2.59	2.75
Debt / equity	1.38	1.05	2.97	3.74	10.6	5.64	2.43	1.86	3.34	2.31	1.99
Debt / assets	0.48	0.43	0.66	0.69	0.77	0.72	0.61	0.58	0.65	0.61	0.58
Net debt / EBITDA	3.4	2.05	1.56	5.63	4.84	2.75	2.19	3.23	3.47	3.47	3.31
Interest coverage	3.19	3.29	1.16	-0.13	-3.69	3.36	8.02	5.41	-1.67	4.32	4.32
Effective tax rate	30%	19.4%	0%	0%	0%	2.24%	18.4%	21.6%	0%	34.2%	34.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	1.54	1.66	2.1	3.3	3.86	5.2	6.41	5.42	37.5	40.5	38.7
EPS (basic)	1.54	1.67	0.29	-2.09	-7.95	6.39	17.6	10.9	-5.59	10.8	10.8
EPS (diluted)	1.53	1.66	0.29	-2.09	-7.95	6.39	17.6	10.9	-5.59	10.8	1.26
Book value per share	1.59	1.82	1.88	2.29	0.93	1.92	4.27	6.11	25.6	35.5	7.61
FCF per share	0.12	0.2	0.43	0.34	1.04	1.44	0.87	-0.03	3.22	4.51	0.03
Cash per share	0.58	0.42	3.99	1.19	1.15	2.68	2.19	2.89	17.4	20.3	21.3
Capex per share	0.14	0.13	0.18	0.23	0.17	0.09	1.23	1.57	7.13	6.4	6.4

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	9%	8.13%	8.6%	6.93%	4.33%	1.8%	19.1%	28.9%	19%	15.8%	15.8%
Capex / operating cash flow	14.2%	21.5%	61.5%	20.6%	-23.3%	4.94%	27.5%	41.3%	-612.6%	43.6%	43.6%
Payout ratio	17.9%	31.3%	65.7%	-21.6%	—	0.11%	17.7%	1.36%	0%	0%	17.8%
Dividend yield	1.1%	1.49%	0.33%	—	—	0.01%	5.78%	0.23%	—	0%	0.05%

Yield

0.05%

trailing twelve months

Frequency

Annual

Last dividend

$0.001

ex-dividend May 4, 2026

Payout ratio

18%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
May 4, 2026	$0.001
Dec 18, 2024	$0.3366
Dec 8, 2023	$0.2388
Dec 19, 2022	$0.3429
May 5, 2022	$0.116
Jan 19, 2022	$0.1371
Apr 22, 2019

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$8.9B	$10.4B	$9.5B	$11.5B	$2.4B	$14.2B	$11.6B	$13.3B	—	$13.1B	$11B	$11.6B
YoY change	-37%	-27.8%	-16.1%	+25.5%	-73.7%	+36.7%	+22.1%	+15.7%	—	-7.5%	-5.06%	-12.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	3.7B	2.7B	25.5B	9.4B	9B	21.1B	17.1B	21.2B	22B	25.1B
Receivables	1.6B	2.3B	2.5B	3B	2.9B	6.5B	9.6B	6.8B	9.1B	6.6B
Inventory	1.3B	1.2B	1.9B	4.7B	4B	4.6B	5.7B	5.9B	8B	8.2B
Total current assets	8B	6.8B	30.8B	18.9B	18B	34.1B	37.1B	38.6B	42.2B	43.9B
Property, plant & equipment	13.6B	13.4B	14B	36.2B	34.2B	33.5B	46B	54.3B	56.2B	54.8B
Goodwill & intangibles	439.2M	376.9M	838M	35.7B	34B	32.5B	30.9B	30B	28.3B	26B
Total assets	29.4B	28.5B	53.9B	97.9B	101.8B	119B	133.2B	143.6B	165.9B	167.9B
Accounts payable	582.9M	621.2M	632.6M	2.4B	2.4B	3.3B	6.2B	5.6B	6B	5.1B
Short-term debt	1.6B	2.1B	3.4B	6.9B	2.7B	4.3B	4B	5.5B	11.4B	3.9B
Total current liabilities	3.8B	3.7B	6.1B	11.5B	8.2B	11.6B	14.5B	14.8B	24.5B	13.8B
Long-term debt	12.4B	10.1B	32.3B	60.8B	75.4B	81.2B	76.7B	77.9B	97B	97.9B
Total liabilities	19.3B	16.9B	41.9B	79.8B	94.5B	103.8B	100B	98.8B	133.5B	124B
Shareholders' equity	10.1B	11.6B	12B	18.1B	7.3B	15.2B	33.2B	44.8B	32.4B	44B
Total debt	14B	12.2B	35.7B	67.7B	78.1B	85.5B	80.8B	83.4B	108.4B	101.7B
Net debt	12.4B	11.1B	31.4B	64.4B	71.3B	71.9B	71.3B	75.1B	99.4B	86.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	19.8B	20.5B	21.2B	18.9B	21.6B	3.3B	22B	16.4B	20.4B	25.1B	22.3B	26.3B
Receivables	6.5B	6.7B	6.8B	6.6B	7.2B	1.4B	9.1B	6.4B	7.3B	6.6B	5.8B	6.2B
Inventory	6.4B	6.5B	5.9B	6.5B	7.1B	1.5B	8B	8.6B	8.6B	8.2B	8.6B	8.7B
Total current assets	38.1B	38.2B	38.6B	35.9B	39.1B	6.9B	42.2B	34.5B	39.9B	43.9B	42.2B	46.9B
Property, plant & equipment	51.3B	53B	54.3B	55.6B	56.9B	10.7B	56.2B	55.9B	2B	54.8B	54.4B	54B
Goodwill & intangibles	30.7B	30.2B	30B	29.6B	29.1B	5.5B	28.3B	27.8B	18.8B	26B	25.5B	25.1B
Total assets	138.3B	141.6B	143.6B	143.4B	153.1B	29.3B	165.9B	155.2B	159.4B	167.9B	165.8B	171B
Accounts payable	6.3B	5.9B	5.6B	4.9B	5.1B	1B	6B	5.7B	6B	5.1B	5B	5.6B
Short-term debt	6.2B	5.4B	5.5B	5.8B	8B	1.6B	11.4B	4.3B	3.7B	3.9B	4.3B	5.2B
Total current liabilities	14.8B	13.6B	14.8B	12.4B	15.8B	3.2B	24.5B	13.2B	12.6B	13.8B	12B	13.9B
Long-term debt	74.5B	79.6B	77.9B	79.4B	87.2B	16.4B	97B	93.6B	94.7B	97.9B	93.2B	94.2B
Total liabilities	95.6B	99.7B	98.8B	98.7B	112.5B	21.4B	133.5B	116.7B	116.2B	124B	117.6B	121.2B
Shareholders' equity	42.7B	41.9B	44.8B	44.7B	40.6B	8B	32.4B	38.5B	43.3B	44B	48.2B	49.9B
Total debt	80.7B	84.9B	83.4B	85.2B	95.2B	18.1B	108.4B	97.9B	98.4B	101.7B	97.5B	99.4B
Net debt	68.9B	79.4B	75.1B	81B	88B	17B	99.4B	88B	86.1B	86.6B	85.3B	82.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.7B	1.8B	319.8M	-2.8B	-10.7B	8.6B	23.4B	14.1B	-7B	13.4B
Depreciation & amortization	1.4B	1.4B	1.6B	8.1B	6.8B	7.1B	7.4B	7.3B	9.2B	11.3B
Stock-based compensation	2.8M	33.7M	131.6M	—	—	—	—	—	—	—
Change in working capital	813.3M	-275.5M	-583.9M	462.4M	2.1B	-2.8B	-3.2B	2B	375.5M	1B
Operating cash flow	6.2B	4B	1.9B	8.8B	-5.7B	15B	34.7B	27.8B	-1.5B	18.2B
Capital expenditure	-886M	-859.9M	-1.2B	-1.8B	-1.3B	-739.3M	-9.5B	-11.5B	-9B	-7.9B
Investing cash flow	-1.9B	-87.4M	-20.8B	-8.8B	2.7B	-6.3B	-12B	-14.9B	-13.2B	-5.3B
Dividends paid	-299.9M	-570.6M	-210.2M	-606.6M	—	-9.7M	-4.2B	-192.5M	0	0
Share repurchases	0	-83K	0	—	—	—	-1.9B	-880.9M	-2.8B	-191.9M
Financing cash flow	574.6M	-2.6B	20B	3.1B	-9.8B	-1.6B	-8.1B	7.8B	1.5B	388.5M
Net change in cash	4.9B	1.3B	1.1B	3.1B	-12.8B	7.1B	14.5B	20.7B	-13.1B	13.2B
Free cash flow	751.2M	1.3B	2.7B	2.7B	8.2B	11.4B	6.8B	-241.6M	4.1B	5.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-728.8M	4.5B	220M	-3.8B	620M	-6.7B	6.3B	5B	—	116.2M	4.3B	1.8B
Depreciation & amortization	1.9B	1.8B	2B	2.1B	441.1M	2.8B	2.5B	2.8B	—	3.1B	2.8B	3.1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-246.7M	363.6M	-90M	-91.7M	19.2M	456.7M	1.8B	-1.4B	—	421.7M	424.9M	298M
Operating cash flow	605.4M	7.3B	2.8B	-4.2B	1.5B	-7.7B	15.5B	4.3B	—	5.4B	2.9B	4.4B
Capital expenditure	-3B	-2.8B	-2.5B	-2.4B	-407.2M	-2B	-1.2B	-1.8B	—	-1.6B	-2.1B	-1.5B
Investing cash flow	-3.1B	-3B	-2.8B	-2.4B	-834.7M	-3.9B	-1.2B	-1.9B	-92.7M	-3.9B	-2.4B	-1.7B
Dividends paid	0	-190.1M	0	0	0	0	0	0	2.2B	0	0	-1.4B
Share repurchases	-159.9M	0	-310M	0	-478.2M	0	-38.7M	-153.3M	—	0	0	-133.5M
Financing cash flow	2.1B	796.2M	20M	367.2M	-300.5M	2.7B	-4.4B	3.1B	2.2B	-1.4B	-804.6M	571.1M
Net change in cash	-399.8M	5.1B	50M	-6.2B	403.2M	-8.9B	9.9B	5.5B	2.1B	66.2M	-268.8M	3.2B
Free cash flow	-2B	167M	-1.2B	1.7B	224.3M	2.3B	1.3B	1.1B	—	2.6B	-101.7M	1.9B

Date	Ratio
Sep 24, 2019	2:1
Aug 21, 2014	3:2

Suzano S.A. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history