Suzano S.A. (SUZB3) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Suzano S.A. stock BRL 31.41, price BRL 52.29, that is 39.9% below the price, quality 54 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range R$35.12 – R$63.04 · fair‑value band R$20.75 – R$66.57 · the R$52.29 price screens above the R$31.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Suzano S.A. manufactures and sells pulp and paper products in Brazil and internationally. It operates in two segments, Cellulose, and Paper. The company offers coated and uncoated printing and writing papers, paperboards, tissue papers, and market and fluff pulps.
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It also engages in the research, development, and production of biofuel; operation of port terminals; biotechnology and nanocrystalline pulps research and development activities; power generation and distribution business; road freight transport activities; commercialization of equipment and parts; research and development of lignin; industrialization and commercialization of cellulose, microfiber cellulose, paper, and paperboard products; and industrialization, commercialization, and exporting of pulp products.
In addition, the company is involved in the commercial office, corporate venture capital, and financial fundraising activities; production of consumer goods through cellulose-based liquids; development and production of cellulose-based fibers, yarns, and textile filaments; restoration, conservation, and preservation of forests; and research of raw materials for the textile industry.
The company was formerly known as Suzano Papel e Celulose S.A. and changed its name to Suzano S.A. in April 2019. The company was founded in 1924 and is headquartered in Salvador, Brazil.
Stock analysis
Suzano S.A. (SUZB3) currently trades at R$52.29, while our model-based Fair Value estimate is R$31.41, 40% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of R$253.54 per share, and 17 of the 23 models we run sit above the R$52.29 price.
Bear case: the Asset-Based group reads lowest at R$16.78, and 6 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: R$20.75 (bear) to R$66.57 (bull), the price of R$52.29 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Suzano S.A. reported revenue of R$50.1B in FY2025 versus R$41.0B in FY2021, a compound +5.2%/yr. Reported net income was R$13.4B in FY2025, compounding +11.7%/yr from FY2021.
Key figures
Market cap R$64.7B (≈ $11.8B) Large · P/E ratio 7.8 · P/S ratio 1.35 · EPS (TTM) R$6.74 · Dividend yield 2.1% · Net margin 17.1% · Return on equity 17.6% · Return on assets (EBIT) 11.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 22% fair-value upside, at −40%, SUZB3 screens richer than that median.
Fair Value models
BearR$20.75Fair Value R$31.41BullR$66.57
Price R$52.29 · Downside -39.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (R$4.77 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner EarningsR$86.65R$217.70R$438.1771
Growth DCFR$13.92R$69.03R$155.2170
Residual IncomeR$54.65R$82.71R$175.3370
All 24 models by family
DCF Models
FCF DCFR$17.36R$62.87R$169.4869
Owner EarningsR$86.65R$217.70R$438.1771
5Y Revenue Exitn/aR$34.50R$96.3569
5Y EBITDA ExitR$49.02R$156.70R$316.2069
5Y P/E ExitR$49.26R$162.77R$304.7366
10Y Revenue ExitR$0.6500R$43.24R$102.2858
10Y EBITDA ExitR$34.83R$127.80R$289.8361
10Y P/E ExitR$34.97R$128.16R$280.6358
Earnings-Based
Graham-DoddR$74.03R$473.71R$662.2763
Lynch FVR$137.18R$195.97R$254.7661
PEG = 1.0R$137.18R$195.97R$254.7657
Dividend Discount
Gordon GGMR$12.72R$21.54R$28.2068
DDM Multi-StageR$12.72R$20.32R$23.1567
Multiples
P/E MultipleR$138.81R$185.08R$231.3563
P/S MultipleR$45.78R$61.04R$76.3058
P/B MultipleR$56.35R$75.13R$93.9155
EV/EBITR$23.49R$55.98R$88.4662
EV/EBITDAR$64.44R$110.58R$156.7265
EV/Revenuen/an/aR$5.3850
Asset-Based
NCAV (Graham)R$12.52R$16.78R$25.0454
Growth DCF
Growth DCFR$13.92R$69.03R$155.2170
Rev-Margin DCFn/aR$35.56R$94.9869
Economic Profit
Residual IncomeR$54.65R$82.71R$175.3370
Growth Earnings
Growth-Adj P/ER$177.48R$253.54R$329.6067
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
Start year 2020 (pandemic). Over 10 years: +17.2% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.4%
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What shareholders gained per year (last 5 years), in BRL ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+13.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.1%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.1% vs 21.5%, slowing
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 23%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+18.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about +15.1% a year for the price and +7.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (87 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Paper & Paper Products · 119 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−39.9% · Bottom 25%
Profitability
Return on equity (12 months)17.6% · Top 25%
Return on assets8.0% · Top 25%
Net margin (12 months)17.1% · Top 25%
Operating margin (12 months)26.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−12.8% · Bottom 25%
Dividend yield (12 months)2.1% · Above median
Balance sheet
Debt / equity2.10× · Highest 25%
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
P/E (12 months)7.8× · Cheapest 25%
P/B1.48× · Priciest 25%
P/S (12 months)1.35× · Priciest 25%
Price / free cash flow (fiscal year)11.4× · Cheaper than median
EV/EBITDA7.1× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 28
FUTURE (revenue growth)0· sector 25
PAST (return on equity)70· sector 14
HEALTH (low debt)0· sector 91
DIVIDEND (yield)43· sector 38
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Suzano S.A. Fair Value". https://www.fairvalue-calculator.com/stock/SUZB3
Frequently asked questions
Is Suzano S.A. (SUZB3) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of R$31.41 versus a price of R$52.29, about 40% lower (overvalued).
What is the fair value of SUZB3?
Our model-based fair value for Suzano S.A. is R$31.41 (as of Nov 6, 2026), built from audited fundamentals. The current price: R$52.29.
What is the quality score of SUZB3?
Suzano S.A. has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Suzano S.A. (SUZB3)?
Our model-based price target is the fair value of R$31.41 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario R$20.75, optimistic scenario R$66.57. It is a calculation from audited fundamentals, not an analyst target.
What is the Suzano S.A. stock forecast for 2026?
Our models put fair value at R$31.41, about 40% lower versus a price of R$52.29 (overvalued). Cautious scenario R$20.75, optimistic scenario R$66.57. The calculation is refreshed regularly with new filings.
What is the revenue of Suzano S.A. (SUZB3)?
Suzano S.A. reported trailing-twelve-month revenue of about R$47.8B (latest available figure, as of Nov 6, 2026).
Does Suzano S.A. pay a dividend?
Suzano S.A. currently shows a dividend yield of 2.14% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Suzano S.A. (SUZB3)?
For today's price to be fair in a discounted-cash-flow model, Suzano S.A. would have to grow free cash flow by +18.9 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of SUZB3 use?
Our models discount Suzano S.A. at 12.2 %: a base by market capitalisation (large), country premium for Brazil. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Suzano S.A. that is +18.9 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Suzano S.A. (SUZB3) delivered so far?
Over the past 5 years revenue at Suzano S.A. grew +10.5 % a year. The price currently implies +18.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Suzano S.A. (SUZB3) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Suzano S.A. (+18.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Suzano S.A. (SUZB3)?
The free-cash-flow yield on the price is 8.76 %: that much free cash flow Suzano S.A. produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Suzano S.A. (SUZB3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Suzano S.A. it is R$31.41 per share (as of Nov 6, 2026), against a price of R$52.29. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Suzano S.A. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, SUZB3 trades above its calculated fair value: price R$52.29, fair value R$31.41, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SUZB3?
No. The price is what the market pays today (R$52.29); the fair value is what the company's own numbers justify (R$31.41). For Suzano S.A. the two are R$20.88 per share apart. That gap is exactly why we show both numbers side by side.
How much is Suzano S.A. worth?
The market values Suzano S.A. at about R$64.7B (market capitalisation, as of Nov 6, 2026). Per share that is R$52.29; our models calculate a fair value of R$31.41 per share.
What do the bullish and bearish scenarios say about SUZB3?
Our models span a range for Suzano S.A.: cautious scenario R$20.75, base R$31.41, optimistic R$66.57 per share (as of Nov 6, 2026, price R$52.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SUZB3?
Suzano S.A. trades at a price-to-earnings ratio of 7.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R$31.41 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 9.4. Other multiples: P/B 1.5, P/S 1.4, EV/EBITDA 7.1.
How solid is the balance sheet of Suzano S.A. (SUZB3)?
Balance-sheet figures for Suzano S.A. (as of Nov 6, 2026): return on equity 17.6%, debt of 2.10 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is SUZB3 from its 52-week high?
Suzano S.A. trades at R$52.29, about 11% below its 52-week high of R$58.97 and 32% above the low of R$39.68 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of R$31.41 is for.
Which stocks are comparable to Suzano S.A.?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Suzano S.A, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Suzano S.A. stock attractive at the current price?
The data as of Nov 6, 2026: price R$52.29, calculated fair value R$31.41 (−40%), Quality Score 54/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SUZB3 calculated?
We run Suzano S.A. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$31.41, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Suzano S.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Suzano S.A. (SUZB3)?
The closing price on Nov 5, 2026 was R$52.29. Our model-based fair value is R$31.41, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Suzano S.A. right now?
The model range is unusually wide (R$20.75 to R$66.57). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Suzano S.A.
How large is the market capitalisation of Suzano S.A. (SUZB3)?
The market capitalisation of Suzano S.A. is R$64.7B (≈ $11.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Suzano S.A. (SUZB3)?
The price-to-sales ratio of Suzano S.A. is 1.35 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Suzano S.A. (SUZB3)?
Earnings per share at Suzano S.A. are R$6.74 (price ÷ EPS = P/E 7.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Suzano S.A. (SUZB3)?
The dividend yield of Suzano S.A. is 2.1% (payout 16.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Suzano S.A. (SUZB3)?
The net margin of Suzano S.A. is 17.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Suzano S.A. (SUZB3)?
The return on equity (ROE) of Suzano S.A. is 17.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Suzano S.A. (SUZB3)?
On an EBIT basis the return on assets of Suzano S.A. is 11.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Suzano S.A. (SUZB3)?
The operating margin of Suzano S.A. is 26.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Suzano S.A. (SUZB3)?
Revenue at Suzano S.A. is growing −12.8% versus a year earlier (3y avg +0.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Suzano S.A. (SUZB3)?
Earnings per share at Suzano S.A. are growing −64.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Suzano S.A. (SUZB3) carry?
The net debt of Suzano S.A. is R$91.1B (fiscal year 2025, ≈ 16.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026