SUZSuzano S.A.

$8.94

Is it safe?

Can SUZ take a bad year?

Suzano S.A. carries $79.6B of net debt at 3.63× EBITDA: a load its earnings can carry.

$79.6B

Net debt · as at Q4 2025 · between two and four years of EBITDA, normal for a stable business

Net debt / EBITDA
3.63×

Net debt / EBITDA · 3.71× a year ago · the load is coming down

Interest cover
1.55×

Interest cover · operating profit barely covers the interest bill

Annualised volatility
27%

Annualised volatility · about as steady as the market itself

Details
Total debtQ4 2025
$94.8B
Cash and short-term investments
$15.2B
Net debt
$79.6B
EBITDA, trailing twelve months
$21.9B
Operating profit, trailing twelve months
$10.6B
Debt / equity
2.16×
Total debt / EBITDA
4.32×
Annualised volatilitytwo years of daily moves
27%
Worst drawdown on file
−65%
Below its 52-week high
−22%

Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.