Suzano S.A. (SUZ) Stock Price & How to Invest

Suzano grows eucalyptus in Brazil, converts it into bleached hardwood kraft pulp, and ships it to tissue, printing and specialty paper makers worldwide. Pulp is roughly ~75% of revenue and paper roughly ~25% in the most recent reporting period. The Cerrado mill at Ribas do Rio Pardo in Mato Grosso do Sul, which started up in mid-2024 at about ~2.55 million tonnes of annual capacity, is the largest single-line pulp mill ever built and took total capacity above ~11 million tonnes a year. The company also owns Portocel, the only dedicated pulp port terminal in Brazil, sells printing and writing brands including Report and Reciclato, runs Brazilian tissue lines, and has pushed downstream through the Pine Bluff, Arkansas paperboard mill acquired from Pactiv Evergreen, a 51% joint venture with Kimberly-Clark's international tissue and professional business, and a minority equity stake in the Austrian fibre maker Lenzing.

The investment picture is a low-cost commodity producer with a cheap multiple and a heavy balance sheet. Trailing twelve-month revenue is about ~R$49.5 billion with net income near ~R$11.4 billion, which puts the ADR on a price-to-earnings ratio of roughly ~4.8 against a market capitalisation of about ~$10.3 billion. First-quarter 2026 results showed the tension directly: pulp sales volume rose about ~7% year on year to roughly ~2.84 million tonnes and the trailing twelve-month total hit a record ~12.7 million tonnes, yet net revenue slipped about ~5% to roughly ~R$11.0 billion and adjusted EBITDA fell about ~6% to roughly ~R$4.6 billion because pulp is sold in dollars while wood, labour and chemicals are paid for in an appreciating real. Net debt stood near ~$13.0 billion at about ~3.3 times adjusted EBITDA, and in May 2026 management set a target of ~$11 billion of net debt and leverage below ~2.5 times across fiscal 2027 and 2028.

Suzano is a price taker in a commodity set in dollars per tonne, so a soft bleached hardwood kraft market compresses earnings no matter how well the mills run. Currency cuts both ways and has recently cut against the company: costs are incurred in reais while pulp is invoiced in dollars, which is exactly why first-quarter 2026 EBITDA fell despite higher volume. Roughly ~$13.0 billion of mostly dollar-denominated net debt at about ~3.3 times EBITDA means a weak pulp year raises the leverage ratio from both directions at once. Chinese tissue and paper demand is the single largest end market and is the swing factor for pricing, while competing greenfield capacity from Arauco, CMPC and Bracell lands in the same decade. Plantation-specific hazards, drought, fire and pest damage across millions of hectares, plus the concentrated control structure of the Feffer family holding company, are further exposures a US buyer of the ADR inherits.

5 analysts publish price targets on SUZ, averaging $12.57 against a $8.22 price as of August 2026, or +52.9%. The published targets run from $10.00 to $13.84, a moderate spread, and the ratings split 4 buy, 1 hold, 0 sell. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full SUZ forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Suzano S.A.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Cost position on the fibre curve. Brazilian eucalyptus reaches harvest in six to seven years against decades for northern softwood, which is why Suzano sits at the bottom of the global cash cost curve. The most optimistic published target, $13.84, assumes this works close to its best case.

The case against. Suzano is a price taker in a commodity set in dollars per tonne, so a soft bleached hardwood kraft market compresses earnings no matter how well the mills run. The most pessimistic target, $10.00, is roughly what SUZ is worth if this bites instead.

Read the full bull and bear case on SUZ, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Suzano S.A.'s investor relations page or your broker.

• Revenue (TTM): ~R$49.5 billion (roughly ~$9.7 billion)
• Net income (TTM): ~R$11.4 billion
• Price to earnings: ~4.8x
• Market capitalisation: ~$10.3 billion
• Net debt / leverage: ~$13.0 billion, ~3.3x adjusted EBITDA
• Dividend: ~$0.19 per ADR, yield near ~2.3%

A mid-single-digit earnings multiple on a company with a record sales year usually means the market is pricing the cycle rather than the quarter, and trailing net income of about ~R$11.4 billion includes non-cash currency gains that will not repeat in the same direction. Enterprise value including net debt is roughly ~$23 billion against an equity value of about ~$10.3 billion, so the debt is a larger claim on the business than the stock is. Both the multiple and the yield are functions of a pulp price that Suzano publishes but does not control.

Other names that sit close to SUZ: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get SUZ exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so SUZ sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where SUZ fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

SUZ pairs the cheapest fibre cost base in the industry and a mid-single-digit earnings multiple with roughly ~$13.0 billion of dollar debt and a selling price the company does not set.

Whether SUZ is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SUZ a buy or a sell?, and where the stock could go from here in the SUZ stock forecast.

For income investors, whether SUZ pays a dividend and how the payout looks is covered in does SUZ pay a dividend? And to weigh SUZ against a peer, read the full side-by-side comparisons: SUZ vs IP and SUZ vs KMB.