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Suzano S.A (SUZB3) Fair Value & Analysis

Basic Materials · BR · Market cap R$51.5B

SS Suzano S.A SUZB3 · SA
PriceR$41.97
Fair ValueR$138.01
Upside+228.8%
Quality51/100
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Expensive Growth
Highly profitable · 23.0% net margin
High debt · generates free cash flow
2.70% dividend yield
Ranks above peers (8/13)
Wide moat 71/100
Evidence: High Range R$64.29 – R$328.82 Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 21 days ago

Fair value updated Jul 17, 2026, revised from R$137.84 to R$138.01 (+0.1%) since Jun 24, 2026. Share price +2.6% over the past month.

A solid business, screening 229% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (R$64.29). The market is more pessimistic than our downside scenario.
  • The model range is unusually wide (R$64.29 to R$328.82). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

R$63.04 R$35.12 Fair Value R$138.01 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range R$35.12 – R$63.04 · fair‑value band R$64.29 – R$328.82 · the R$41.97 price screens below the R$138.01 fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Suzano S.A (SUZB3) currently trades at R$41.97, while our model-based Fair Value estimate is R$138.01, implying the stock looks roughly 228.8% undervalued today. We read business quality at 51/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Suzano S.A generated revenue of R$49.5B at a net margin of 23.0%. Revenue declined 5.1% year over year. It earns a return on equity of 26.3%. Net debt stands at R$91.1B. Fundamentals as of Jul 17, 2026

Our scenario range runs from R$64.29 (bear case) to R$328.82 (bull case); at R$41.97, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 30% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -29% fair-value upside, at 229%, SUZB3 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF R$4.11 R$73.15 R$199.53 80
Residual Income R$81.50 R$120.43 R$1,201 76
Rev-Margin DCF R$9.99 R$78.87 R$178.34 74
All 24 models by family
DCF Models
FCF DCF R$6.60 R$59.55 R$200.69 38
Owner Earnings R$85.86 R$256.25 R$598.28 31
5Y Revenue Exit R$9.99 R$79.11 R$189.35 39
5Y EBITDA Exit R$80.74 R$237.01 R$471.22 41
5Y P/E Exit R$69.39 R$218.82 R$407.81 38
10Y Revenue Exit R$5.88 R$77.74 R$186.80 36
10Y EBITDA Exit R$57.73 R$204.23 R$467.92 37
10Y P/E Exit R$49.85 R$183.94 R$408.93 35
Earnings-Based
Graham-Dodd R$73.86 R$472.59 R$660.70 54
Lynch FV R$136.85 R$195.50 R$254.16 50
PEG = 1.0 R$136.85 R$195.50 R$254.16 46
Dividend Discount
Gordon GGM R$16.42 R$34.15 R$54.17 70
DDM Multi-Stage R$16.42 R$28.79 R$35.84 61
Multiples
P/E Multiple R$162.92 R$217.23 R$271.53 63
P/S Multiple R$76.12 R$101.49 R$126.86 58
P/B Multiple R$79.85 R$106.47 R$133.09 55
EV/EBIT R$62.95 R$104.61 R$146.28 53
EV/EBITDA R$117.45 R$177.28 R$237.12 54
EV/Revenue R$8.98 R$39.43 R$69.87 43
Asset-Based
NCAV (Graham) R$17.75 R$23.78 R$35.49 50
Growth DCF
Growth DCF R$4.11 R$73.15 R$199.53 80
Rev-Margin DCF R$9.99 R$78.87 R$178.34 74
Economic Profit
Residual Income R$81.50 R$120.43 R$1,201 76
Growth Earnings
Growth-Adj P/E R$189.47 R$270.66 R$351.86 68

Widest divergence: Growth Earnings (R$270.66) versus Asset-Based (R$23.78). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) R$49.5B
Revenue growth (YoY) -5.1%
Net margin 23.0%
Return on equity 26.3%
Free cash flow R$5.7B FY2025
P/E ratio 4.5
More key figures
Operating margin 16.7%
EPS (TTM) R$9.19
Dividend yield 2.7%
EPS growth (YoY) -31.9%
Net debt R$91.1B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 41

Profitability 57
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
R$50.1B
Latest YoY
+5.7%
Avg. growth/yr (3Y)
+0.2%
Avg. growth/yr (5Y)
+10.5%
Avg. growth/yr (25Y)
+18.4%
Revenue +5.2%/yr
FY21 R$41.0B
FY22 R$49.8B
FY23 R$39.8B
FY24 R$47.4B
FY25 R$50.1B
Net income +11.7%/yr
FY21 R$8.6B
FY22 R$23.4B
FY23 R$14.1B
FY24 −R$7.1B
FY25 R$13.4B

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Cite: Fair Value Calculator (2026). "Suzano S.A Fair Value". https://www.fairvalue-calculator.com/stock/SUZB3

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Paper & Paper Products · 114 stocks

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.

Quality Score 51 · Above median
Return on equity (TTM) 26% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 2.10× · Higher than 75% of peers

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 4.5× · Cheaper than 75% of peers
P/B 1.17× · Pricier than median
P/S (TTM) 1.04× · Pricier than median
P/FCF 1.8× · Pricier than median
EV/EBITDA 6.2× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 22
FUTURE 0 · sector 8
PAST 100 · sector 12
HEALTH 0 · sector 91
DIVIDEND 54 · sector 38

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥22.05 ¥24.32 +10%
Billerud AB BILL kr 68.70 kr 48.60 -29%
MCC Meili Cloud Computing Industry Investment Co 000815 ¥12.12 ¥1.63 -87%

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Frequently asked questions

Is Suzano S.A (SUZB3) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of R$138.01 versus a price of R$41.97, about +229% (undervalued).
What is the fair value of SUZB3?
Our model-based fair value for Suzano S.A is R$138.01 (as of Jul 17, 2026), built from audited fundamentals. The current price is R$41.97.
What is the quality score of SUZB3?
Suzano S.A has a Quality Score of 51/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Suzano S.A (SUZB3)?
Suzano S.A reported trailing-twelve-month revenue of about R$49.5B (latest available figure, as of Jul 17, 2026).
What is the net profit margin of SUZB3?
The net profit margin of Suzano S.A is about 23.0%, meaning it keeps roughly 23.0% of revenue as net income. Based on the latest reported figures.
Does Suzano S.A pay a dividend?
Suzano S.A currently shows a dividend yield of about 2.72% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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