Suzano S.A. (SUZ) intrinsic value & 10-year financials
Suzano S.A. (SUZ) has a Graham intrinsic value of BRL 359.25 per share. Over the last 10 fiscal years revenue grew 19.8% a year to BRL 50.1B, with an average return on invested capital of 12.8%.
- Graham intrinsic value
- BRL 359.25
- Revenue (FY2025)
- BRL 50.1B
- Revenue growth (10-yr CAGR)
- 19.8%
- ROIC (10-yr avg)
- 12.8%
- Free cash flow (FY2025)
- BRL 13.6B
SUZ 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | BRL 50.1B | BRL 13.4B | BRL 10.82 | BRL 13.6B | 21.2% | 8.6% |
| FY2024 | BRL 47.4B | -BRL 7.0B | -BRL 5.59 | BRL 11.4B | 33.1% | 13.2% |
| FY2023 | BRL 39.8B | BRL 14.1B | BRL 10.85 | BRL 5.6B | 30.7% | 11.5% |
| FY2022 | BRL 49.8B | BRL 23.4B | BRL 0.02 | BRL 11.8B | 44.6% | 24.8% |
| FY2021 | BRL 41.0B | BRL 8.6B | BRL 0.01 | BRL 15.5B | 44.4% | 23.5% |
| FY2020 | BRL 30.5B | -BRL 10.7B | -BRL 0.01 | BRL 11.6B | 27.7% | 11.1% |
| FY2019 | BRL 26.0B | -BRL 2.8B | -BRL 0.00 | BRL 5.6B | 10.1% | 4.3% |
| FY2018 | BRL 13.4B | BRL 319.8M | BRL 0.00 | BRL 3.9B | 37.3% | 15.2% |
| FY2017 | BRL 10.6B | BRL 1.8B | BRL 0.00 | BRL 2.2B | 31.0% | 11.7% |
| FY2016 | BRL 9.8B | BRL 1.7B | BRL 0.00 | BRL 2.2B | 13.0% | 4.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in BRL.
Executive summary
Suzano S.A. is a consistent compounder, expanding top-line revenue at 19.8% annually over the past decade.
Suzano S.A. returns on capital have been average, hovering around 12.8% ROIC over the decade.
Over the decade, Suzano S.A. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Suzano S.A. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $359.25 per share.