One-glance verdict
Within fair range
$116.82 our estimate vs market $118.71
Wall Street consensus: $141.22 (20.9% higher than our fair-value estimate)
2% above our estimate
Fundamentals snapshot
Bunge Global SA
BG · NYQ · Consumer Defensive · Farm Products
Current price
$118.71
52-week range
$76.01 - $134.87
Market cap
$22.81B
Balance sheet
Stretched
2.06x Stretched
Net debt $16.27B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 14.5% last year.
- Reward Returns 7.2% on equity, ahead of 50% of its peers.
- Risk Net debt grew 210.2% over 3 years.
- Risk Stock trades 117.1% above its 5-year average P/E.
What this company does
Bunge Global SA
Bunge is a major player in the world's food supply chain (the entire process of getting food from the farm to your table), buying, storing, and processing key crops like soybeans, corn, and wheat. The company makes its money by turning these raw ingredients into essential products like vegetable oils for cooking, meal for animal feed, and biofuels. Because Bunge acts as a critical link connecting farmers to food producers globally, its business is fundamental to keeping the world fed and fueled.
How the company got here
Founded in Amsterdam in 1818, Bunge began as a small trading business. [4, 7, 11] It expanded into South America in the late 1800s, which became a cornerstone of its business, and later entered North America. [1, 4, 11] For most of its history, it was a privately owned company that grew by moving from simply trading crops to also processing them into ingredients. [1] A major turning point was in 2001 when it became a publicly traded company on the New York Stock Exchange, allowing it to raise money from a wider pool of investors. [1, 4] In 2023, Bunge announced a major merger with a company named Viterra, significantly increasing its scale in the grain industry. [1]
What it actually does
Bunge is a critical link in the journey food takes from the farm to your plate. The company buys crops like soybeans, corn, and wheat directly from farmers all over the world. [9] It then processes these raw agricultural products into essential ingredients that other companies use to make a huge variety of products. [4, 8] For example, it crushes soybeans to create vegetable oil for cooking and protein-rich meal for animal feed. [2] You would find Bunge's ingredients in things like cooking oils, margarines, baked goods, and even in renewable fuels. [2, 4]
Soybean Processing and Refining
This is one of Bunge's largest and most important businesses. The company buys massive quantities of soybeans, then crushes them to separate the oil from the meal. [16] The soybean meal is sold to farmers and other companies as a key protein ingredient in animal feed for chickens, pigs, and cattle. [2] The crude oil is further refined (cleaned and purified) to be used in cooking oils, margarines, and as a key ingredient for producing biofuels like renewable diesel. [2, 16]
Softseed Processing and Refining
This business operates very much like the soybean segment but focuses on different types of oilseeds known as 'softseeds'. These include crops like rapeseed, canola, and sunflower seeds. [2, 16] Bunge processes these seeds to produce popular cooking oils like canola oil and sunflower oil that you might buy at the grocery store. The leftover meal from this process is also a valuable component of animal feed. [2]
Other Oilseeds Processing and Refining
This part of the company handles more specialized types of oilseeds and their products. It focuses on creating specialty oils and fats that are used by food manufacturers for specific purposes. [3, 16] For example, a company making chocolate might need a particular type of fat to get the right texture, or a snack food company might need a special oil for frying. This segment provides those custom, higher-value ingredients.
Grain Merchandising and Milling
This segment is a combination of two activities: trading and processing grains like wheat and corn. [16] The 'merchandising' part involves buying, storing, and transporting these grains around the world, connecting farmers in places with a surplus to customers in places with a need. The 'milling' part involves grinding the corn and wheat into flours and other ingredients that are then sold to bakeries and food companies to make things like bread, pasta, and cereals. [2, 21]
What management is betting on now
Management's top priority is successfully combining its business with Viterra, a move that greatly expands its network for sourcing grain from farmers. [1, 10] The company is also focused on the growing demand for renewable fuels, positioning its vegetable oils as a key feedstock (the raw material used to create a final product) for making renewable diesel. [1] Another major bet is on sustainability, investing in technology to provide traceability (the ability to track a product's origin) for its crops, which is increasingly demanded by large food companies. [1, 20] Finally, the company emphasizes disciplined capital allocation (a plan for how to best use the company's money), which includes returning cash to investors through dividends (a portion of profits paid to shareholders) and share buybacks (when a company buys its own stock to increase the value of the remaining shares). [1, 12]
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$-1.77B
FY2024 Q3
$973.00M
FY2024 Q4
$564.00M
FY2025 Q1
$-595.00M
FY2025 Q2
$-1.48B
FY2025 Q3
$385.00M
FY2025 Q4
$809.00M
FY2026 Q1
$-877.00M
Revenue
$21.86B
Net income
$68.00M
Diluted EPS
0.35
Operating cash flow
$-541.00M
Free cash flow
$-877.00M
Fetching…
Sources
Revenue
$23.76B
Net income
$95.00M
Diluted EPS
0.49
Operating cash flow
$1.35B
Free cash flow
$809.00M
Fetching…
Sources
Revenue
$22.16B
Net income
$166.00M
Diluted EPS
0.84
Operating cash flow
$854.00M
Free cash flow
$385.00M
Fetching…
Sources
Revenue
$12.77B
Net income
$354.00M
Diluted EPS
2.61
Operating cash flow
$-1.07B
Free cash flow
$-1.48B
Fetching…
Sources
Revenue
$11.64B
Net income
$201.00M
Diluted EPS
1.48
Operating cash flow
$-285.00M
Free cash flow
$-595.00M
Fetching…
Sources
Revenue
$13.54B
Net income
$602.00M
Diluted EPS
4.36
Operating cash flow
$1.05B
Free cash flow
$564.00M
Fetching…
Sources
Revenue
$12.91B
Net income
$221.00M
Diluted EPS
1.56
Operating cash flow
$1.33B
Free cash flow
$973.00M
Fetching…
Sources
Revenue
$13.24B
Net income
$70.00M
Diluted EPS
0.48
Operating cash flow
$-1.47B
Free cash flow
$-1.77B
Fetching…
Sources
Is it cheap or expensive?
Fair value $116.82 vs current price $118.71
Wall Street consensus is the average analyst price target: $141.22 (20.9% higher than our fair-value estimate).
Our most-likely fair value is $116.82 a share — about 1.6% away from today's price of $118.71, so the stock currently looks fairly priced.
Is it drowning in debt?
Stretched
Net debt $16.3B. Interest coverage 2.1x.
Net debt
$16.27B
Interest coverage
2.06x
Bunge Global SA's profit covers its interest bill about 2.1 times over. which is weaker than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
BG
BASELINE
Bunge Global SA
Total debt $17.06B Interest coverage 2.06x This is the baseline the peer rows are being compared against.
Total debt $9.34B Interest coverage 2.33x +13% vs BG Has roughly the same debt cushion as BG.
Total debt $8.01B Interest coverage 3.21x +56% vs BG Carries about 1.6x more debt cushion than BG.
Total debt $3.61B Interest coverage 16.38x +694% vs BG Carries about 7.9x more debt cushion than BG.
Total debt $4.87B Interest coverage 14.55x +605% vs BG Carries about 7.1x more debt cushion than BG.
Total debt $6.08B Interest coverage 4.47x +116% vs BG Carries about 2.2x more debt cushion than BG.
What you should know
The case for and against BG
3 Rewards
2 Risks
Rewards
-
Revenue grew 14.5% last year.
-
Returns 7.2% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 2/10 years.
Risks
-
Net debt grew 210.2% over 3 years.
-
Stock trades 117.1% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
25.58x
Forward P/E
10.47x
P/B
1.43x
P/S
0.25x
EV/EBITDA
12.97x
PEG ratio
1.37x
Profitability
How much profit each dollar creates
Gross margin
4.9%
Operating margin
4.6%
Net margin
1.1%
ROE
7.2%
ROA
3.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.98x
Current ratio
1.57x
Quick ratio
0.33x
Total debt
$17.06B
Total cash
$788.00M
Growth
How the business has been compounding
Revenue TTM
$80.55B
Revenue 5Y CAGR
4.4%
EPS TTM
4.64
EPS 5Y CAGR
-26.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$588.00M
Free CF TTM
$-879.00M
FCF margin
-1.1%
Dividend
Shareholder payout
Yield
2.4%
Payout ratio
60.8%
Last ex-div date
2026-11-17