Sylvamo Corporation (SLVM)
Fair ValueFundamental
60
Price
$32.54
Market Cap
$1.30B
Part 1 · What the company is worth
Overview
Sylvamo, spun off from International Paper in 2021, manufactures uncoated freesheet paper — the kind used for copiers, printers and offset printing — plus market pulp, at seven mills in Brazil, France, Sweden and the U.S. It also manages roughly 250,000 acres of eucalyptus plantations in Brazil that feed its own mills. The products are largely commodities sold on price rather than brand.
How it makes money
Revenue comes from selling tons of paper and pulp at prices set by global supply and demand, not by the company. Because the product is largely a commodity, profitability depends on running mills close to full capacity and controlling input costs — wood fiber, chemicals, energy and transport — rather than on pricing power. Demand for the category has been shrinking for years as digital alternatives replace printed paper.
Revenue by segment
Imaging, commercial printing and converting papers from mills in South Carolina and New York, plus offtake volumes purchased from a former International Paper mill.
Uncoated freesheet paper and market pulp from three integrated mills in Brazil, sold regionally and exported worldwide under brands including Chamex.
Uncoated freesheet paper and market pulp from integrated mills in France and Sweden.
Competitive moat
No identified moat · NoneThe company itself states that most of its products are commodities available from other producers, with competition based mainly on price rather than brand distinction. Brand recognition and service levels play a role, but do not amount to a durable pricing advantage over rival paper makers.
What drives demand
CyclicalThe company states that paper and pulp supply and demand are cyclical, tracking macroeconomic conditions and industry capacity, on top of a separate secular decline: global demand for uncoated freesheet paper fell at a 2.1% compound annual rate from 2019 to 2025 as digital communication and e-commerce replace print.
Key risks
- Secular decline in paper demand — The company states that global demand for its core uncoated freesheet paper has been shrinking for years as email, e-billing and e-commerce replace print, and expects the decline to continue.
- Commodity pricing and industry cyclicality — Prices for paper and pulp are set by global supply and demand rather than by the company, and industry overcapacity can prolong periods of weak pricing when competitors keep unprofitable mills running rather than close them.
- Customer concentration — The top ten customers account for about 41% of net sales, with one customer alone at about 15%; losing a major customer or seeing distributor consolidation could hurt sales materially.
- Raw material, energy and weather exposure — The business depends on a steady supply of wood fiber and energy; the company cites drought in Brazil that has already reduced timber yields and raised fiber costs, with further weather disruption a risk.
- Trade policy and tariffs — The company states that tariffs imposed on imported goods have introduced additional competing products in some markets, pressured pricing, raised input costs and constrained its ability to import and sell certain products in the U.S.
Customer concentration
Top customers account for 15% of revenue
The company states its top ten customers represent about 41% of net sales, including one single customer at about 15%. Losing that customer or a wave of consolidation among distributors could materially affect sales.
The case for
Buyers argue that Sylvamo's low-cost, forest-integrated Brazilian mills give it a cost advantage in a shrinking industry, that industry-wide capacity closures should eventually balance supply and demand, and that the stock's cash generation supports a meaningful dividend even as volumes decline.
The case against
Sellers fear that a structurally shrinking, commodity product with no pricing power is a poor long-term business regardless of cost position, that customer concentration and tariff exposure add near-term volatility, and that Brazilian drought and currency swings make earnings hard to predict.
Written by the editors, published on August 18, 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$3.30B
Trailing 12 months (through 6/30/2026)
Net Income
$76M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$44M
Total Equity
$966M
Total Liabilities
$1.80B
Current Ratio
1.47
Interest Coverage
3.38
Debt/EBITDA
2.21
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$38.25
Current Price
$32.54
Margin of Safety
+14.9%
Fair Value Range
$28.57 - $47.94
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
17.49
ROE
13.7%
P/B Ratio
1.35
P/FCF
29.61
Gross Margin
-
ROIC
6.6%
Profitability Radar
Value Creation (Economic Moat)
ROIC
6.6%
WACC
7.2%
ROIC − WACC
-0.7 pp
ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.
Fundamental Analysis Criteria
Passed (17)
- Price CAGR 5.61%
- ROIC 6.5%
- P/FCF 29.61
- P/B ratio 1.35
- Debt/equity ratio
- Operating margin 5.3%
- Current ratio
- Interest coverage
- Debt/EBITDA
- Return on tangible assets
- Low reliance on intangibles
- DCF valuation (Undervalued)
- ROE 7.8%
- Revenue growth 5Y 7.0%
- Earnings quality (operating cash flow / net income) 2.75
- Share dilution -3.1%
- Piotroski F-Score 5/9
Failed (6)
- EPS shows upward trend
- EPS CAGR -14.93%
- Positive free cash flow
- Price below Graham Number
- Earnings surprise, average -45.2%
- Net margin trend 2.3% vs 6.1%
Unavailable (4)
- Gross margin –
- Dividend payout –
- CapEx intensity
- PEG ratio (needs P/E > 0 and growth > 0)
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. John Van Sims | CEO, President & Director | 62 |
| Mr. Donald Paul Devlin | Senior VP & CFO | 60 |
| Mr. Matthew L. Barron | Senior VP, Chief Administrative & Legal Officer and Corporate Secretary | 52 |
| Mr. Rodrigo Davoli | Senior VP & GM of North America | 45 |
| Ms. Tatiana Kalman | Senior VP & GM of Latin America | 47 |
| Kevin W. Ferguson | VP, Controller & Chief Accounting Officer | - |
| Mr. Hans Bjorkman | Vice President of Investor Relations | - |
| Ms. Marcie Vargas | Senior VP & Chief People Officer | 61 |
| Mr. Patrick Wilczynski | Senior Vice President of Operational Excellence | 55 |
| Ms. Shawn Lawson | Senior VP & GM of Europe | 48 |
Audit Risk
4
Board Risk
1
Compensation Risk
4
Shareholder Rights Risk
4
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-20
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-07
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-07
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much SLVM moves, measured on its daily prices.
More volatile than 54% of the tracked stocks (90-day volatility).
- Volatility 30d
- 38.7%
- Volatility 90d
- 37.7%
- Beta vs S&P 500 (1y)
- 0.62Correlation 0.21
- Max drawdown (12m)
- -43.1%
- ATR (14d, % of price)
- 3.97%
Earnings reactions
How SLVM moved around its past quarterly results.
Next earnings release
Nov 6, 2026 · In 13 days · Before the open
EPS estimate: 1.13Revenue estimate: $818M
What usually happens
- Over the last 12 releases the stock moved a median of 7.1% the next day, up or down.
- Next-day moves: up 5, down 7 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026 | Before the open | 0.28 | 0.03 | -89.2% | +3.9% | +8.7% | +3.0% |
| May 8, 2026 | Before the open | -0.29 | -0.53 | -82.3% | -3.2% | -5.9% | -11.4% |
| Feb 12, 2026 | Before the open | 1.09 | 1.08 | -1.0% | -4.5% | +5.1% | -8.8% |
| Nov 7, 2025 | Before the open | 1.57 | 1.44 | -8.3% | -2.6% | 0.0% | +7.8% |
| Aug 8, 2025 | Before the open | n/a | n/a | n/a | -19.6% | -15.6% | -6.6% |
| May 9, 2025 | Before the open | n/a | n/a | n/a | -4.1% | -12.6% | -7.1% |
| Feb 12, 2025 | Before the open | n/a | n/a | n/a | -3.2% | -7.3% | -6.4% |
| Nov 12, 2024 | Before the open | n/a | n/a | n/a | -2.6% | -6.9% | -10.4% |
| Aug 9, 2024 | Before the open | n/a | n/a | n/a | +9.4% | +12.1% | +13.9% |
| May 10, 2024 | Before the open | n/a | n/a | n/a | -3.1% | -2.8% | +6.0% |
| Feb 15, 2024 | Before the open | n/a | n/a | n/a | +9.8% | +24.1% | +21.2% |
| Nov 9, 2023 | Before the open | n/a | n/a | n/a | +7.4% | +3.9% | +10.4% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on SLVM and what the price did next.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for SLVM.