Suzano 배당 및 자사주 매입
배당 기준 점검 3/6
Suzano 수익으로 충분히 충당되는 현재 수익률 2.61% 보유한 배당금 지급 회사입니다.
핵심 정보
2.6%
배당 수익률
0.3%
자사주 매입 수익률
| 총 주주 수익률 | 2.9% |
| 미래 배당 수익률 | 2.9% |
| 배당 성장률 | 17.5% |
| 다음 배당 지급일 | n/a |
| 배당락일 | n/a |
| 주당 배당금 | n/a |
| 배당 성향 | 12% |
최근 배당 및 자사주 매입 업데이트
Recent updates
Suzano: Expecting Resumed Deleveraging In 2026
Summary Suzano delivers sequential improvement in pricing, margin, and volume, aided by the low-cost Cerrado asset and favorable market dynamics. FCF yield is projected upwards of 14% for FY2026, supported by higher volumes, price recovery, and significant CAPEX reduction as Cerrado wrapped up. Global supply constraints, notably Indonesian license revocations, drive pulp price increases and favor SUZ's cost-competitive position. We think deleveraging will be prioritized, with up to 10 billion BRL in annual net debt reduction, positioning SUZ equity for further upside and future dividends. Read the full article on Seeking AlphaSuzano: Cerrado Production Online, Paper And Packaging Scaling
Summary Suzano remains an attractive investment due to its dominant position in the global pulp market and the completion of the Cerrado project, boosting capacity by 25%. The secular shift from plastic to paper supports demand, and decent S/D dynamics mean that deleveraging could move ahead of schedule, and high yields are possible with dividends. Deleveraging is a key focus, with operational cash generation expected to cover debt and potentially offer an almost 10% dividend yield with a 30% payout ratio. Despite some capacity growth in China's forecast, Suzano's compressed multiples and potential for increased profitability make it a compelling investment with significant return drivers. Read the full article on Seeking AlphaSuzano: Resilient In Volatile Markets, Poised For Growth In 2025
Summary Suzano, a global leader in hardwood pulp, benefits from its dominant market position, cost efficiency, and 80% export revenue, ensuring resilience against volatility. The company's strategic international expansion and robust cash generation, boosted by the new Cerrado Project plant, position it for strong future growth. Despite recent cash flow challenges due to high CapEx and land acquisitions, Suzano's solid cash reserves and improving EBITDA indicate a stable financial outlook. Suzano's undervaluation, trading at a forward EV/EBITDA of 6.5x versus a historical average of ~7x, supports a strong buy recommendation. Read the full article on Seeking AlphaSuzano: Potentially Undervalued And Risks Appear Priced In
Summary The company reported revenues above expectations, with a contribution from the 28% increase in pulp prices. With a 16% annual reduction in COGS, the company achieved an adjusted EBITDA margin of an incredible 55%. Despite the risks with the financial result and leverage, the cheap valuation seems to consider this. Read the full article on Seeking AlphaSuzano's Price Declines Despite Imminent Contribution From New Cerrado Mill
Summary Suzano's price has fallen possibly from the International Paper bid not going through, but in the meantime, their massive Cerrado pulp facility has become operational. The new facility adds 25% to their already massive production and does so at lower unit production costs. EBITDA growth will be considerable, and cash generation will improve in a return to deleveraging form for Suzano, which quarterly produces around 33% of net debt in OpCF. They also reinstated the dividend last year as a sort of pilot, with substantial scope for dividend growth and payout as deleveraging resumes with Cerrado CAPEX now done. Significant growth potential, bolstered by a tangible deleveraging return and dividend, comes at a very low TTM P/E of around 9x. Markets don't seem to be factoring in the return coming on all that Cerrado CAPEX. Read the full article on Seeking AlphaSuzano: Perennial Competitive Advantages And Attractive Valuation
Summary Suzano is the world's largest producer of eucalyptus short fiber pulp, with competitive advantages in Brazil. The company has strong growth, a high EBITDA margin, and a very attractive return on equity. Despite this, the company trades at an EV/EBITDA multiple with a discount of 9.8% to the peer average, which makes no sense. Read the full article on Seeking AlphaSuzano Q3: Tough, But Weathering The Storm
Summary Suzano faced challenges in Q3, including declining revenues and margins due to plummeting pulp prices in a challenging commodity market. Despite the challenges, Suzano managed to adjust prices and make investments for product diversification, positioning itself for future growth. Expectations of a recovery in realized pulp prices, driven by increased Chinese demand, and a discounted valuation compared to peers make Suzano an attractive investment opportunity. Read the full article on Seeking AlphaSuzano: Still A Buy Despite Cyclical Weakness
Summary Suzano has seen a 16.5% increase in its stock price since my previous article. Suzano will release its third-quarter 2023 results on October 26 and hold an annual investor day the next day. In this article, I assess how our investment thesis has fared so far and review the factors that have been driving the recent share price gains. Suzano seems to still be cheap and to have a major catalyst down the road, making this industry leader an attractive target to buy. Read the full article on Seeking AlphaSuzano: Undervalued Amidst Pulp Price Retreat
Summary Suzano's recent financial performance was impacted by falling pulp prices, leading to a lower stock valuation. Despite efforts to raise prices, short-term recovery expected to be gradual due to significant pulp price decline. The prospect of profitability is boosted by the anticipated long-term price curve improvement in China. Read the full article on Seeking AlphaSuzano: Why Investors Should Consider Investing In This Pulp Industry Leader
Summary Suzano S.A. is the leader in the pulp and paper industry, as demonstrated by my in-depth analysis of its margins and rates of turn. However, SUZ trades at a significant discount relative to both industry peers and its estimated intrinsic value, and this discount is unjustifiable, even considering its domicile in Brazil. The company presents a compelling bullish case for long-term investors to capitalize on the expected growth and upcoming rate cuts by the Brazilian central bank. Read the full article on Seeking AlphaSuzano: Pressure Starts On Pulp, But Pivot Could Be Coming
Summary As of the last quarter, pulp prices had continued to rise, and a superb result emerged with EBITDA meaningfully up. Pulp prices since then have started to decline slightly for the first time in a long time, and we should see a small reversal in Suzano fortunes. Over the next couple of years declines should be slow, since we think sharp short-term drops will be less likely given stronger macro indicators. Capacity is coming into the industry which will pressure prices, but the multiple assumes that and more. The capital allocation policies look great with buybacks and a new dividend, and the future dividend could be huge. The main risk is political. Suzano (SUZ) is a company that we've followed and owned at points for a long time, and is our way of keeping track of happenings in the pulp markets. The situation now is that pulp had continued to inflate until in September prices started to turn on macro fears. In the longer term they will continue to decline as capacity is entering the market, including more of Suzano's own with Cerrado. The multiple more than accounts for the longer term price declines, and probably prices in shorter term price declines that are becoming increasingly unlikely according to our macro view. Suzano is actually looking quite appetizing right now, and we have quite a lot of expectations for their new dividend which is sustainable at the 5% level even with the Cerrado CAPEX which ends in H2 2024. While the fundamentals look great, the risks are political in nature. Q3 Breakdown The Q3 was driven by price action more than volumes. Despite many industries seeing peaking pricing in Q3, especially basic materials, pulp continued to see growth, in fact it grew sharply in price. Price (Q3 2022 Pres) EBITDA grew, and margins even expanded despite cost pressures with cash costs rising further. Cash Cost (Q3 2022 Pres) The chief driver of cash costs remains chemicals and other intermediate inputs that go into pulp, whereas energy is a nonfactor. On top of that, wood prices have been inflating as well at 20%, less than the 24% average. Cerrado (Q3 2022 Pres) The Cerrado project is a major initiative for the company that we've covered at length. Is it is a CAPEX sink, accounting for 50% of the company's run-rate CAPEX, and is about a third finished. It will expand the company's capacity by about 20%, and mirrors moves being done by other pulp producers as well since the goods boom in late 2020 and 2021. Capacity increases like these are driving the longer term, downward forecasts in price - however the additional volumes will sustain their current massive cash flows in the longer term. Cash flows from operations exceed this CAPEX by a little less than 2x, with the margin being usable for the dividend it's sustainable at the 5-6% level given recent prices. Bottom Line The company's capital allocation policy is really changing a lot at this moment. For a long time it was a deleveraging story. Leverage started coming down fast enough, and despite new CAPEX projects happening at the same time, Suzano is beginning to pay a dividend, which should amount to about 5-6% in yield on a free cash flow coverage basis. The company has already bought back 4% of its float since March, and is going to keep buying back about 3% more over the next 18 months until it's over and they consider another project. When the Cerrado project is done, the dividend could more than double. Pulp prices are lower however, and investors should be aware of this. Pulp Prices (FRED) While the last quarter included a sharp and unexpected price increase, it is coming down off those highs but slowly. This could continue as recession fears mount. However, we think the market is in for a positive surprise over the coming months as rate hikes are nearing their end in our opinion. Inflation expectations are sinking as is inflation, and there won't be much more reason for the Fed to keep hiking rates. We don't agree with downgrading the pulp industry and already have long expected capacity additions. Suzano trades at a miniscule multiple, 3x for the 2022 forecasts, which implies disaster in pulp markets which have repeatedly defied expectations. Goods demand is still rather strong, and since we don't think a harsh recession is coming, we think the market has got it wrong here. Regardless, a 3x multiple is a bankruptcy multiple almost, and the price is languishing with the valuation, having cycled back down close to lows of this year. While longer term pressure on prices are coming for pulp, the Cerrado project is highly advantageous from a cost perspective due to its proximity to the rainforest, and should be able to keep Suzano earnings pretty solid thanks to volume compensation over the next couple of years.Suzano S.A. goes ex dividend on monday
Suzano S.A. (NYSE:SUZ) declares $0.3428/share annual dividend Payable Jan. 9; for shareholders of record Dec. 20; ex-div Dec. 19. See SUZ Dividend Scorecard, Yield Chart, & Dividend Growth.Suzano S.A. reports Q3 results
Suzano S.A. press release (NYSE:SUZ): Q3 net income of R$5.4B versus a net loss of R$959M in 3Q21. Revenue of R$14.2B an 32% increase on 3Q21. Adjusted EBITDA of R$8.6B, a 36% increase on 3Q21. Operating cash generation of R$7.2B, an 37% increase on 3Q21.Suzano Is Advantaged As Russia Retaliates In Timber
Summary In our last article, we reported on the earnings, so now we offer some thoughts ahead of earnings at the beginning of November. Pulp prices have rocketed, and this is because Russia is no longer exporting birch, which is a key hardwood input for soft pulp. Producers including Suzano are putting capacity on hold now for maintenance, some because the supplies have gotten hard to come by. Thankfully, Suzano has the whole Amazon Rainforest in its backyard to use for a good stream of inputs with smaller logistic costs. Published on the Value Lab 10/19/22 Suzano (SUZ) is a company that we continuously follow, and ahead of earnings, we give some opinions in light of the pressures from Russian export bans. In short, Russia has prohibited the export of birch in retaliation to Western sanctions, and this means that production of soft pulp materials is going to get quite a bit more expensive with Russian feedstock accounting for about 10% of fibre supply. While this has a negative effect on Suzano, we believe its advantaged Brazilian geography gives it access to substitute feedstocks, where competing capacity in other geographies may struggle to keep production flows up. Limits on pulp production capacity will generate higher margins - the environment should be good for Suzano after its downtime is up. Exposure to Birch Price differentials between softwood and hardwood pulp had been rising, and now with the prohibition on the export of Russian birch that trend is likely to see a reversal, with birch-based pulp prices likely to come down. Products affected are hygiene products, things like toilet paper, and any soft paper-based materials. About 20% of Suzano's sales are from paper products that quite intensively use softwood pulp, with the rest being the production of just pulp for other manufacturers to use to make their products. Suzano pulp is both soft and hardwood based. Pulp has already shot up on these latest developments as pulp producers pass on more costs on top of rising logistics and energy costs. Pulp Price ((FRED)) Naturally, rising input prices could be an issue for Suzano, but why do we think that on balance Suzano is going to end up seeing margin expansion and not margin contraction on these developments? Firstly, scheduled downtime is coming in for a lot of producers of pulp, and this is going to mean lessened pulp production capacity. Suzano counts themselves among this number. Moreover, with 10% of the softwood coming out of markets some of this downtime is going to be protracted at facilities where insufficient feedstocks can be acquired. This is where Suzano is advantaged. First of all, they are a major producer of Eucalyptus-based pulp, common in the rainforests, and therefore already have a lot of hardwood access. Since this access is local, and Suzano has benefited from low-cost assets as a consequence of its geography, it will not be forced into downtime by market conditions. This will put it in a position in the medium term where its capacity is part of a more scarce landscape, and it also means its feedstock for hardwood pulps is going to be more isolated from Russian export ban pressures as their geography will be more isolated by the distance. In other words, the proportionate increase in pulp prices will not be met with the same proportionate increase in feedstock prices for Suzano in our opinion. Remarks We should note to investors that Suzano is putting some major facilities into downtime for Q4, meaning in the results following the coming ones some weeks of downtime at Aracruz will impact volumes. Since other producers are likely to be instituting downtime at the same time, since cycles are in phase ever since the pandemic, marginality should be protected in that period, and the benefits of lengthened downtime by competitors as production becomes less economical will likely materialise more substantially into 2023.Suzano S.A. reports Q2 results
Suzano S.A. press release (NYSE:SUZ): Q2 Adj. EBITDA of R$6.3B. Revenue of R$11.5B (+17.3% Y/Y). Substantial sales volume increase: 5% increase in pulp sales volumes to 2.66 million tons (2Q21: 2.54 million tons) 10% increase paper sales volumes to 324,000 tons (2Q21: 296,000 tons) Increased 2022 CAPEX guidance of R$16.1 billion from previously announced R$13.6 billionSuzano Continues To Print Cash But Pressures Mounting
Pressures are mounting as expected for Suzano on the cost side but demand side still remains strong. Benefiting from the goods boom which must turn for inflation to be tackled, Suzano is directionally poor in the face of monetary hawkishness. An investment would depend on whether we believe in follow through of monetary authorities. Multiple still very low and LBO economics make it a relevant watchlist pick. Published on the Value Lab 15/7/22 Suzano (SUZ) is a company that we really like, although we sold it, thankfully at highs, some months ago as sentiment pressures began to mount on the stock which was positively exposed to the goods boom. We are seeing an evolution of these pressures in Q1, but they are not yet appearing on the demand-side. The company is still very cash generative, and the major CAPEX efforts are moving forward nicely, but the direction makes this a very mixed picture, with no clear downside protection except for the already low multiple if monetary authorities continue to push with rate increases. While the LBO economic of the Suzano investment remain attractive, we continue to keep it on the watchlist rather than in our portfolio. Q1 Update Let's take a look at some of the key information from the Q1. Cash costs continue to evolve. Wood, which includes diesel costs associated with transport and processing, are beginning to pressure the cash costs as well as general issues with inputs outside of wood, including caustic soda and other chemicals that are in short supply. Cash Cost Development (Q1 2022 Pres) On the demand-side, selling prices continue to rise, indicating that there hasn't been a hit to demand yet. Moreover, the massive appreciation of the US dollar hasn't been fully reflected in effective prices yet. Finally, the company is continuing to implement price increases, so the sequential and YoY increases, which are both double digit, should actually continue into the next quarter for sure, with the picture beyond being less clear. Net Price Growth (Q1 2022 Pres) This increase in prices is not something we expected, but is a useful measuring stick for understanding the effects of monetary pressures. The quarter closed before the hiking regime, so we may be approaching a top after the price hike rounds to customers as well as FX effects take full effect. Monetary pressure is going to have to take commodity prices like pulp down in order to control the inflation situation. In Q3 we might start seeing the effect that lower disposable income will have on the price side. Approaching Suzano The Cerrado project, the company's big initiative with construction company Andritz (OTCPK:ADRZF), is going to be completed in 2024, which took about 1.5 years longer than most factory build-outs would have taken prior to the lengthened lead times associated with our supply constrained environment. 10% of the total burden was accomplished this quarter in terms of industrial CAPEX, which shown the rapid progress that Suzano is able to make organically in funding its own initiatives. This will substantially skew down the company's cash cost due to the strategic positioning of the Cerrado facility and its size (20%) relative to the overall current productive capacity, well timed for both the recession and also concurrent capacity build-outs by some other competitors in the industry. It should also concur with the end of the recession, where timings of their build-out should coincide with general efforts of manufacturers to grow capacity as is needed by the real economy suffering from cost push inflation. The effects of rate hiking probably haven't been reflected yet in the company's demand-side situation, and while the price has come down substantially, trading at 5x EBITDA on a run-rate annualized basis with a 24% YTD decrease in stock price, the direction is undeniably poor, with post-Q2 results likely to see correction of the pulp commodity.Suzano Still Growing EBITDA, Although Costs Are Catching Up
Trend analysis might not be the best way to do things, but with our longitudinal view on Suzano, we think we see costs catching up and potentially turning the cycle. Suzano has been benefiting in EBITDA growth for a while now because of elevated pulp prices, but other types of inflation exacerbated by the Ukraine war are slowing growth down. With the rate hike environment coming next, we think that the wedge between cost and price could start to enter the downcycle. Suzano is very low-cost and well-positioned, but we're glad that we're out of this position now.Time To Rotate Out Of Suzano
We sold Suzano at recent highs at the Value Lab, where a couple of principled thoughts made us think that the good times might be coming to a temporary end. Everything runs in cycles, especially cyclicals, and with pulp prices maintaining and even moving ahead of highs, we worry that economic woes may be the incidence for reversal. Suzano remains a good opportunity, with deleveraging coming along nicely, and with a great margin of safety, but earning almost 30% on any cyclical at cycle highs should be prioritised.Suzano Shouldn't Be Affected By Russian Invasion Of Ukraine
We update Suzano followers on a note on its economics with respect to the Ukraine invasion. At this point, sanctions are expected on Russia. While unsure of what they might be, it's fair to assume their exports will come under major fire. Russia exports 10% of the world's timber, and while substantial, logistic cushions limit their comparative advantage, and Suzano's owned forests limit input price inflation risk.Suzano's Deleveraging Continues, No Cost Impact From Inflation
For Suzano, Average net pulp prices continue to rise, with all EBITDA contributions coming from price increases with volumes YoY and QoQ stable. While 2020 provides challenging comps, the 2021 situation still shows improvement with all end-markets firing on all cylinders. Slight impact on volumes from logistic backdrop, as well as on cash costs, but operating cash flow is still almost 2x 2020. Deleveraging is happening fast with operating cash flows way ahead of Cerrado CAPEX, and Suzano remains a low multiple, high return personal LBO constituting 20% of our portfolio.Suzano: Capacity Expansion Works Starting, Plans For A Dividend
The Cerrado project, a sink for 20 billion BRL, has been further elaborated by management. The proposed economics of the project as well as the financing conditions demonstrate that Suzano's valuation remains excessively low. The Cerrado project, which will increase production by 25% for Suzano, lowers overall logistic cost profile of Suzano by being close to inputs. Suzano also begins to elaborate conditions for paying a dividend, which should reclassify the stock and be a catalyst.Suzano Continues To Deleverage And Produce Record Cash Flow
The net debt declines 10% since last quarter, proving Suzano as an effective personal LBO. The EBITDA and cash flow generation have grown massively YoY, reaching record levels. Another three years of this is reasonable, and with the low multiple, those three years almost cover the payback period on the investment. Suzano continues to be a very attractive commodities investment, but of course, we expect the cycle to come down in a few years when all the capacity expansion takes place.Suzano: Exposure To Natural Gas Price Increases Is Limited, A Buy On Sustained Highs By Pulp
The talk of Wall Street is all shortages now, especially natural gas, so we've started to scrutinize our own portfolio and make sure we aren't carrying excessive risks. Suzano has become one of our larger holdings due to the fact that fiber remains structurally abundant, while pulp manufacturing facilities aren't despite high demand. The price of Suzano has been trading down a lot lately, and we think it relates to jitters around the situation in energy. In our estimation, energy should remain a limited input cost for Suzano, and we don't think the ballooning in natural gas prices, a main energy input, will matter for the bottom line. Overall, as the price drops, we become more bullish on Suzano.Suzano's Languishing Puts It On The Value Investor's Hotlist
Suzano benefits structurally from COVID-19 habit changes in its end markets. At the same time, its input prices, specifically wood, are likely to remain rather fixed. The company pays no dividend, but the multiple is quite low, and we think that the supply/demand dynamics should be supportive for another 3 years at least. A great commodity long that remains reasonably valued and supported by clearly positive secular trends.지급의 안정성과 성장
배당 데이터 가져오는 중
안정적인 배당: SUZ 10년 미만 동안 배당금을 지급해 왔으며 이 기간 동안 지급액은 휘발성이었습니다.
배당금 증가: SUZ 의 배당금 지급이 증가했지만 회사는 8 년 동안만 배당금을 지급했습니다.
배당 수익률 vs 시장
| Suzano 배당 수익률 vs 시장 |
|---|
| 구분 | 배당 수익률 |
|---|---|
| 회사 (SUZ) | 2.6% |
| 시장 하위 25% (US) | 1.4% |
| 시장 상위 25% (US) | 4.2% |
| 업계 평균 (Forestry) | 2.4% |
| 분석가 예측 (SUZ) (최대 3년) | 2.9% |
주목할만한 배당금: SUZ 의 배당금( 2.61% )은 US 시장에서 배당금 지급자의 하위 25%( 1.39% )보다 높습니다.
고배당: SUZ 의 배당금( 2.61% )은 US 시장에서 배당금 지급자의 상위 25%( 4.21% )와 비교해 낮습니다.
주주 대상 이익 배당
수익 보장: 낮은 배당금 지급 비율 (12.2%)로 인해 SUZ의 배당금 지급은 수익으로 충분히 충당됩니다.
주주 현금 배당
현금 흐름 범위: 합리적으로 낮은 현금 지급 비율 ( 33.5% )로 SUZ 의 배당금 지급은 현금 흐름으로 잘 충당됩니다.
높은 배당을 제공하는 우량 기업 찾기
기업 분석 및 재무 데이터 상태
| 데이터 | 최종 업데이트 (UTC 시간) |
|---|---|
| 기업 분석 | 2026/05/06 07:22 |
| 종가 | 2026/05/06 00:00 |
| 수익 | 2026/03/31 |
| 연간 수익 | 2025/12/31 |
데이터 소스
당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.
| 패키지 | 데이터 | 기간 | 미국 소스 예시 * |
|---|---|---|---|
| 기업 재무제표 | 10년 |
| |
| 분석가 컨센서스 추정치 | +3년 |
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| 시장 가격 | 30년 |
| |
| 지분 구조 | 10년 |
| |
| 경영진 | 10년 |
| |
| 주요 개발 | 10년 |
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* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.
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산업 및 섹터 지표
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분석가 소스
Suzano S.A.는 24명의 분석가가 다루고 있습니다. 이 중 16명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
| 분석가 | 기관 |
|---|---|
| Pedro Grimaldi | Barclays |
| Mary Cleia da Silva | BB Banco de Investimento S.A. |
| Caio Ribeiro | BofA Global Research |