Latest Ratios: P/E Ratio 3.8x · EV/EBITDA 6.3x · ROE 34.4%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.7B | $11.6B | $12.8B | $14.7B | $12.3B | $14.6B | $15.1B | $13.3B | $10.8B | $6.6B | $4.7B |
| Enterprise Value | $27.3B | $102.6B | $112.2B | $89.8B | $83.5B | $86.5B | $28.6B | $29.0B | $42.2B | $17.7B | $17.1B |
| P/E Ratio → | 3.80 | 0.88 | — | 1.05 | 0.53 | 1.69 | — | — | 34.14 | 3.61 | 2.80 |
| P/S Ratio | 1.02 | 0.24 | 0.27 | 0.37 | 0.25 | 0.36 | 0.50 | 0.51 | 0.81 | 0.62 | 0.47 |
| P/B Ratio | 1.14 | 0.26 | 0.39 | 0.33 | 0.37 | 0.96 | 10.68 | 2.95 | 0.90 | 0.56 | 0.46 |
| P/FCF | 8.98 | 2.08 | 3.14 | — | 1.81 | 1.28 | 1.83 | 4.90 | 3.95 | 5.61 | 6.89 |
| P/OCF | 2.80 | 0.65 | 0.62 | 0.85 | 0.57 | 0.83 | 1.15 | 1.75 | 2.10 | 2.23 | 1.56 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.09 | 2.37 | 2.26 | 1.68 | 2.11 | 0.94 | 1.12 | 3.14 | 1.68 | 1.73 |
| EV / EBITDA | 6.33 | 4.61 | 4.57 | 4.60 | 2.82 | 3.42 | 1.88 | 2.72 | 6.41 | 3.79 | 6.28 |
| EV / EBIT | 12.58 | 9.16 | 7.69 | 4.07 | 2.55 | 6.88 | — | — | 35.19 | 5.64 | 4.89 |
| EV / FCF | — | 18.47 | 27.56 | — | 12.28 | 7.59 | 3.48 | 10.72 | 15.36 | 15.11 | 25.15 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.1% | 31.1% | 42.2% | 36.9% | 50.2% | 49.7% | 37.7% | 20.3% | 48.5% | 38.7% | 33.5% |
| Operating Margin | 22.8% | 22.8% | 33.1% | 30.7% | 44.6% | 44.4% | 27.7% | 10.1% | 37.3% | 31.0% | 13.3% |
| Net Profit Margin | 26.8% | 26.8% | -14.9% | 35.4% | 46.9% | 21.1% | -35.2% | -10.8% | 2.4% | 17.2% | 17.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.4% | 34.4% | -18.3% | 36.1% | 96.7% | 104.0% | -363.0% | -34.1% | 2.7% | 16.6% | 17.5% |
| ROA | 7.9% | 7.9% | -4.6% | 10.2% | 18.5% | 12.5% | -48.8% | -7.2% | 0.8% | 6.2% | 5.9% |
| ROIC | 6.3% | 6.3% | 9.4% | 8.2% | 17.4% | 26.7% | 36.0% | 6.2% | 11.4% | 10.8% | 4.3% |
| ROCE | 7.6% | 7.6% | 11.6% | 9.9% | 19.7% | 29.0% | 42.7% | 7.6% | 13.8% | 12.9% | 5.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.42 | 2.42 | 3.34 | 1.86 | 2.43 | 5.64 | 10.52 | 3.68 | 2.97 | 1.05 | 1.38 |
| Debt / EBITDA | 4.77 | 4.77 | 4.41 | 4.27 | 2.72 | 3.39 | 0.98 | 1.55 | 5.43 | 2.61 | 5.15 |
| Net Debt / Equity | — | 2.07 | 3.07 | 1.68 | 2.15 | 4.74 | 9.58 | 3.50 | 2.61 | 0.96 | 1.22 |
| Net Debt / EBITDA | 4.09 | 4.09 | 4.05 | 3.84 | 2.40 | 2.85 | 0.89 | 1.48 | 4.76 | 2.38 | 4.56 |
| Debt / FCF | — | 16.38 | 24.41 | — | 10.48 | 6.31 | 1.65 | 5.82 | 11.41 | 9.50 | 18.26 |
| Interest Coverage | 1.71 | 1.71 | 2.97 | 5.41 | 7.13 | 3.36 | -16.20 | -0.44 | 1.00 | 2.74 | 4.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.19 | 3.19 | 1.72 | 2.61 | 2.56 | 2.95 | 2.20 | 1.65 | 5.08 | 1.83 | 2.10 |
| Quick Ratio | 2.59 | 2.59 | 1.40 | 2.20 | 2.17 | 2.55 | 1.70 | 1.22 | 4.78 | 1.51 | 1.75 |
| Cash Ratio | 1.82 | 1.82 | 0.90 | 1.43 | 1.18 | 1.83 | 1.11 | 0.82 | 4.21 | 0.73 | 0.96 |
| Asset Turnover | — | 0.29 | 0.29 | 0.28 | 0.37 | 0.34 | 1.55 | 1.07 | 0.25 | 0.37 | 0.34 |
| Inventory Turnover | 4.11 | 4.11 | 3.44 | 4.22 | 4.33 | 4.45 | 24.31 | 17.18 | 3.74 | 5.34 | 5.00 |
| Days Sales Outstanding | — | 66.57 | 78.87 | 71.03 | 74.45 | 61.47 | 9.37 | 15.24 | 68.88 | 79.72 | 79.81 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.3% | 18.7% | 12.7% | — | 33.8% | 0.1% | — | 4.6% | 1.9% | 8.7% | 6.4% |
| Payout Ratio | 16.5% | 16.5% | — | — | 17.8% | 0.1% | — | — | 65.8% | 31.6% | 17.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 26.3% | 113.8% | — | 95.5% | 190.2% | 59.2% | — | — | 2.9% | 27.7% | 35.7% |
| FCF Yield | 11.1% | 48.0% | 31.8% | — | 55.3% | 78.2% | 54.5% | 20.4% | 25.3% | 17.8% | 14.5% |
| Buyback Yield | 0.4% | 1.6% | 21.9% | 6.0% | 15.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% |
| Total Shareholder Yield | 4.7% | 20.3% | 34.6% | 6.0% | 49.3% | 0.1% | 0.0% | 4.6% | 1.9% | 8.7% | 100.0% |
| Shares Outstanding | — | $1.2B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.1B | $1.1B | $1.1B |
Commodity Price Volatility Exposure
According to recent market data, Suzano trades at a P/E of 3.76 and an EV/EBITDA of 6.30, suggesting that investors are heavily discounting the company's earnings potential due to the inherent volatility of global pulp prices and the cyclical nature of the forestry sector.
The low P/E multiple appears to reflect a market skepticism regarding the sustainability of current earnings, which are often inflated by non-cash biological asset adjustments. When compared to peers like Packaging Corporation of America, the valuation gap suggests that the market views Suzano as a commodity-sensitive play rather than a stable industrial compounder.
Based on reported financial statements, Suzano's ROIC has remained consistently low, fluctuating between 1.0% and 2.7% over the last ten quarters, which indicates that the company struggles to generate returns that meaningfully exceed its cost of capital during periods of heavy capacity expansion.
The persistent gap between invested capital and operational returns suggests that the massive capital outlays required for projects like the Cerrado mill are not yet yielding the expected efficiency gains. Investors should monitor whether these returns improve as new capacity reaches full utilization or if the capital-intensive nature of the business model permanently suppresses ROIC.
As reported in recent filings, the company's cash conversion cycle has oscillated between 74 and 106 days, reflecting significant variability in inventory management and the timing of receivables, which complicates the company's ability to maintain a consistent liquidity profile across different pulp price cycles.
The high DIO, which peaked at 102 days in 2024Q2, suggests that Suzano may be holding excess inventory to buffer against market demand shifts, tying up significant cash. This inefficiency in working capital management appears to be a structural feature of the business, necessitating careful scrutiny of how effectively management can optimize its supply chain during downturns.
Based on the provided balance sheet data, Suzano maintains a debt-to-equity ratio of 2.02 as of 2026Q1, indicating that the company's reliance on external financing remains high, which warrants further investigation into its interest coverage capacity during periods of declining operating margins.
While the company has managed to keep interest coverage above 5x in recent quarters, the volatility of this metric—dropping to negative levels in 2024Q2—highlights the risk posed by its significant dollar-denominated debt. The company's leverage profile appears vulnerable to currency fluctuations and interest rate volatility, which could constrain future capital allocation flexibility.
The P/E ratio is frequently misapplied to Suzano, as it fails to account for the massive non-cash fair value adjustments of biological assets that distort net income, making the metric an unreliable indicator of the company's true operational earning power and cash-generating capability.
Investors should prioritize EV/EBITDA or P/FCF over P/E to better understand the company's underlying performance, as these metrics are less susceptible to the accounting noise inherent in forestry valuation. Relying on P/E risks misinterpreting the company's financial health, particularly during periods where non-operating items significantly skew the bottom line.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying SUZ stock.
Suzano S.A.'s current P/E ratio is 3.8x. The historical average is 11.5x. This places it at the 60th percentile of its historical range.
Suzano S.A.'s current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.3x.
Suzano S.A.'s return on equity (ROE) is 34.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -2.8%.
Based on historical data, Suzano S.A. is trading at a P/E of 3.8x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Suzano S.A.'s current dividend yield is 4.32% with a payout ratio of 16.5%.
Suzano S.A. has 31.1% gross margin and 22.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Suzano S.A.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.