olivlawolivlaw

olivLaw · US equity research

Bunge Global SA BG

Fats & Oils · SIC 2070 · Vertical: Food products (SIC 20xx)

97.01USD+2.42% · 1 dayClose 04 Nov 2026

Bunge Global SA (BG) is a global agribusiness company that connects farmers to consumers by processing oilseeds and merchandising grains, with operations in more than 50 countries. After the Viterra acquisition completed in July 2025, net sales rose 88% in the second quarter of 2026 to $24,041 million, and the company raised its full-year 2026 adjusted EPS outlook.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Bunge Global SA (BG) stock was 97.01 USD (+2.42% on the day), with market capitalisation 18.6 bn USD, P/E 16.3 on diluted EPS of 5.95 USD over the last 12 months, dividend yield 5.15%, beta 0.26, 52-week range 88.55–131.41 USD. Latest reported quarter (Q3 2026): revenue of 23.8 bn USD (+7.4% YoY), net income of 318.0 m USD (+91.6% YoY), diluted EPS 1.64 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
18.6 bn USD
shares as of 27 Oct 2026
P/E (TTM)
16.3
Diluted EPS TTM 5.95 · TTM to 30 Sept 2026
E/P (TTM)
6.13%
TTM to 30 Sept 2026
Dividend yield
5.15%
DPS 12m 5.00
Beta (2y)
0.26
Volatility (1y) 30%
52-week range
88.55131.41

Price history

Loading chart…

Technical reading

RSI (14)
35.3
weak (30–45)
Bollinger (20, 2)
93.50 – 110.71
in the lower half of the band · %B 0.20 · band width 16.8%
SMA 50 / 200
109.63 / 116.97
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-3.73 / -3.26
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−9.6%−1.1%−8.5 pp—
3 months−9.0%−0.5%−8.6 pp—
6 months−23.0%+4.4%−27.4 pp—
Year to date+8.9%+12.3%−3.4 pp—
1 year+3.3%+13.5%−10.2 pp+16.6%
3 years−8.5%+76.4%−84.9 pp−5.2%
5 years+4.4%+63.7%−59.3 pp—
Max drawdown (1y)
−28.3%
03 Jun 2026 → 02 Nov 2026
Max drawdown (5y)
−45.5%
18 Apr 2022 → 12 Feb 2025
Compound annual growth (5y)
+0.9%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
23.8 bn USD
+7.4% YoY
Net income
318.0 m USD
+91.6% YoY
Diluted EPS
1.64
+95.2% YoY
net / operating
1.3% / unavailable

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue13.5 bn11.6 bn12.8 bn22.2 bn23.8 bn21.9 bn24.0 bn23.8 bn
Cost of revenue12.5 bn11.0 bn12.0 bn21.1 bn22.8 bn21.1 bn22.4 bn22.5 bn
Gross profit1.1 bn597.0 m738.0 m1.1 bn1.0 bn766.0 m1.7 bn1.3 bn
SG&A451.0 m380.0 m418.0 m678.0 m637.0 m531.0 m606.0 m605.0 m
Depreciation & amortisation123.0 m120.0 m116.0 m241.0 m226.0 m238.0 m256.0 m248.0 m
Interest expense113.0 m104.0 m106.0 m202.0 m216.0 m181.0 m197.0 m208.0 m
Pre-tax income730.0 m284.0 m494.0 m270.0 m86.0 m61.0 m943.0 m515.0 m
Income tax100.0 m80.0 m124.0 m86.0 m-2.0 m-14.0 m236.0 m168.0 m
Net income602.0 m201.0 m354.0 m166.0 m95.0 m68.0 m678.0 m318.0 m
Diluted EPS4.361.482.610.840.490.353.471.64
Operating cash flow1.1 bn-285.0 m-1.1 bn ≈854.0 m ≈1.3 bn-541.0 m-585.0 m ≈-1.2 bn ≈
Capex489.0 m310.0 m406.0 m ≈469.0 m ≈538.0 m336.0 m443.0 m ≈384.0 m ≈
Dividends paid91.0 m91.0 m94.0 m ≈139.0 m ≈135.0 m136.0 m139.0 m ≈139.0 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 75 percentile of its own 16-quarter history (min 6.8, median 9.6, max 29.7; quarters with earnings only).

Fiscal years

Fiscal year20212022202320242025
Revenue59.2 bn67.2 bn59.5 bn53.1 bn70.3 bn
Revenue YoYunavailable+13.7%−11.4%−10.8%+32.4%
Net income2.1 bn1.6 bn2.2 bn1.1 bn816.0 m
Net income YoYunavailable−22.5%+39.3%−49.3%−28.2%
Diluted EPS13.6410.5114.877.994.91
Diluted EPS YoYunavailable−22.9%+41.5%−46.3%−38.5%
net %3.5%2.4%3.8%2.1%1.2%
Free cash flow-3.3 bn-6.1 bn2.2 bn524.0 m-879.0 m

Reported results vs expectations

Loading…

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
1.1 bn USD
Financial debt
14.1 bn USD
Net debt
12.9 bn USD
Equity
17.4 bn USD
Total assets
44.5 bn USD
Debt / equity
0.81x
Current ratio
1.61x
ROE
5.8%
ROA
2.4%
FCF margin
-1.2%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
59.5 bn
2024
53.1 bn
2025
70.3 bn

SEC (XBRL)· 19 Feb 2026verified

Cost of revenue
2023
54.7 bn
2024
49.7 bn
2025
66.9 bn

SEC (XBRL)· 19 Feb 2026verified

Gross profit
2023
4.8 bn
2024
3.4 bn
2025
3.4 bn

SEC (XBRL)· 19 Feb 2026verified

Research & development
2023
35.0 m
2024
30.0 m
2025
28.0 m

SEC (XBRL)· 19 Feb 2026verified

SG&A
2023
1.7 bn
2024
1.8 bn
2025
2.1 bn

SEC (XBRL)· 19 Feb 2026verified

Depreciation & amortisation
2023
451.0 m
2024
468.0 m
2025
703.0 m

SEC (XBRL)· 19 Feb 2026verified

Interest expense
2023
516.0 m
2024
471.0 m
2025
628.0 m

SEC (XBRL)· 19 Feb 2026verified

Pre-tax income
2023
3.1 bn
2024
1.5 bn
2025
1.1 bn

SEC (XBRL)· 19 Feb 2026verified

Income tax
2023
714.0 m
2024
336.0 m
2025
288.0 m

SEC (XBRL)· 19 Feb 2026verified

Net income
2023
2.2 bn
2024
1.1 bn
2025
816.0 m

SEC (XBRL)· 19 Feb 2026verified

Diluted EPS
2023
14.87
2024
7.99
2025
4.91

SEC (XBRL)· 19 Feb 2026verified

Weighted average diluted shares
2023
150.8 m
2024
142.2 m
2025
166.5 m

SEC (XBRL)· 19 Feb 2026verified

Dividend per share
2023
2.61
2024
2.72
2025
2.80

SEC (XBRL)· 19 Feb 2026verified

Balance sheet · USD

Cash
2023
2.6 bn
2024
3.3 bn
2025
1.1 bn

SEC (XBRL)· 19 Feb 2026verified

Receivables
2023
2.6 bn
2024
2.1 bn
2025
3.9 bn

SEC (XBRL)· 19 Feb 2026verified

Inventories
2023
7.1 bn
2024
6.5 bn
2025
13.2 bn

SEC (XBRL)· 19 Feb 2026verified

Current assets
2023
16.4 bn
2024
16.0 bn
2025
24.4 bn

SEC (XBRL)· 19 Feb 2026verified

Property, plant & equipment, net
2023
4.5 bn
2024
5.3 bn
2025
—

SEC (XBRL)· 20 Feb 2025verified

Goodwill
2023
489.0 m
2024
453.0 m
2025
3.1 bn

SEC (XBRL)· 19 Feb 2026verified

Intangibles (excl. goodwill)
2023
398.0 m
2024
321.0 m
2025
309.0 m

SEC (XBRL)· 19 Feb 2026verified

Total assets
2023
25.4 bn
2024
24.9 bn
2025
44.5 bn

SEC (XBRL)· 19 Feb 2026verified

Accounts payable
2023
3.7 bn
2024
2.8 bn
2025
4.9 bn

SEC (XBRL)· 19 Feb 2026verified

Short-term debt
2023
802.0 m
2024
1.5 bn
2025
5.2 bn

SEC (XBRL)· 19 Feb 2026verified

Long-term debt
2023
4.1 bn
2024
4.7 bn
2025
8.8 bn

SEC (XBRL)· 19 Feb 2026verified

Current liabilities
2023
7.7 bn
2024
7.4 bn
2025
15.1 bn

SEC (XBRL)· 19 Feb 2026verified

Equity
2023
11.8 bn
2024
10.9 bn
2025
17.4 bn

SEC (XBRL)· 19 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
3.3 bn
2024
1.9 bn
2025
844.0 m

SEC (XBRL)· 19 Feb 2026verified

Capex
2023
1.1 bn
2024
1.4 bn
2025
1.7 bn

SEC (XBRL)· 19 Feb 2026verified

Free cash flow
2023
2.2 bn ≈
2024
524.0 m ≈
2025
-879.0 m ≈

SEC (XBRL)· 19 Feb 2026derived

Investing cash flow
2023
-1.0 bn
2024
-1.1 bn
2025
-5.2 bn

SEC (XBRL)· 19 Feb 2026verified

Financing cash flow
2023
-856.0 m
2024
-90.0 m
2025
2.2 bn

SEC (XBRL)· 19 Feb 2026verified

Dividends paid
2023
383.0 m
2024
378.0 m
2025
459.0 m

SEC (XBRL)· 19 Feb 2026verified

Share repurchases
2023
600.0 m
2024
1.1 bn
2025
551.0 m

SEC (XBRL)· 19 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
32.4%
computed by olivLawFY 2025
Revenue CAGR 3Y
1.5%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
input data missing
Net income growth (YoY)
-28.2%
computed by olivLawFY 2025
Net income CAGR 3Y
-20.3%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
-38.5%
computed by olivLawFY 2025
EPS CAGR 3Y
-22.4%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-267.7%
computed by olivLawFY 2025

Profitability

Gross margin
5.1%
computed by olivLawTTM to 30 Sept 2026
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
input data missing
Net margin
1.2%
computed by olivLawTTM to 30 Sept 2026
FCF margin
-2.8%
computed by olivLawTTM to 30 Sept 2026

Returns

ROE
7.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
2.4%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROIC
unavailable
input data missing
ROCE
unavailable
input data missing
Payout ratio (EPS)
84.0%
computed by olivLawTTM to 30 Sept 2026
Payout ratio (FCF)
unavailable
the base of the ratio is not positive

Balance sheet

Net debt
16.2 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Net debt / EBITDA
unavailable
input data missing
Debt / equity
1.0x
computed by olivLawbalance sheet at 30 Sept 2026
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
1.5x
computed by olivLawbalance sheet at 30 Sept 2026
Quick ratio
0.6x
computed by olivLawbalance sheet at 30 Sept 2026
Cash ratio
0.0x
computed by olivLawbalance sheet at 30 Sept 2026

Cash

Operating cash flow
-955.0 m USD
computed by olivLawTTM to 30 Sept 2026
Capital expenditure
1.7 bn USD
computed by olivLawTTM to 30 Sept 2026
Free cash flow
-2.7 bn USD
computed by olivLawTTM to 30 Sept 2026
FCF conversion
-229.2%
computed by olivLawTTM to 30 Sept 2026
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
15 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days inventory outstanding
62 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days payables outstanding
21 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Cash conversion cycle
55 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Market and valuation

Market capitalisation
18.6 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Enterprise value
34.9 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
16.1x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
16.3x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
6.1%
computed by olivLawTTM to 30 Sept 2026
P/B
1.1x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
0.2x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
0.4x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-14.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Dividend yield
5.2%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
5.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 58.3% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

97.01 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 18.6 bn USD

Key indicators

Market capitalisation
18.6 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
16.3x
computed by olivLawTTM to 30 Sept 2026
P/B
1.1x
computed by olivLawbalance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
ROE
7.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
1.2%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
32.4%
computed by olivLawFY 2025
Dividend yield
5.2%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

33/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 27 Oct 2026
Source: SEC (XBRL)published 29 Oct 2026
verified 672derived 33

Score by group

58% · Insufficient data

Estimated value range

Low
79.32
USD per share
Mid
84.24
USD per share
High
89.70
USD per share
Price: 97.01 USD
The price is above the range
Potential to the central value: -13.2% (value / price − 1)
Margin of safety: -15.2% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 36.79 – 129.91 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · the base of the ratio is not positive
  • Peers: EV/EBITDAunavailable · input data missing
  • Peers: P/E121.85 – 129.91 (Mid 126.28)
    3 companies used · median multiple 21.2x · quartiles 20.5x – 21.8x
    HSY, MDLZ, MNST
  • Dividend discount (DDM)36.79 – 49.48 (Mid 42.21)
Multiple comparisons use the SIC vertical: Food products (SIC 20xx)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 58.3% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality1.2%29 (vs peers)11%
FCF conversion · Quality-229.2%0 (on a fixed band)11%
Revenue CAGR 3Y · Growth1.5%13 (on a fixed band)14%
EPS CAGR 3Y · Growth-22.4%0 (on a fixed band)14%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet1.5x59 (on a fixed band)7%
P/E (TTM) · Valuation16.3x80 (vs peers)18%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-14.2%0 (on a fixed band)14%
Shareholder yield (distributions) · Returns5.9%84 (on a fixed band)11%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial59/100 · 1/3 factors with a value
  • Growth6/100 · 2/2 factors with a value
  • Quality14/100 · 2/3 factors with a value
  • Returns· partial84/100 · 1/2 factors with a value
  • Valuation44/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

BUNGE GLOBAL SA (BG). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: revenue 70.3 bn USD in 2025; YoY growth 32.4%; net margin 1.2%; ROE 7.2%.

The estimated value range is 79.32–89.70 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 84.24 USD, the price of 97.01 USD leaves a potential of -13.2% (value / price − 1) and a margin of safety of -15.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (score weight coverage: 58.3% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • P/E (TTM): 16.3x
  • Shareholder yield (distributions): 5.9%

What contradicts it

  • Net margin: 1.2%
  • FCF conversion: -229.2%
  • Revenue CAGR 3Y: 1.5%
  • EPS CAGR 3Y: -22.4%
  • FCF yield: -14.2%
  • The price is above the estimated value range
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).

Versus the vertical median

Food products (SIC 20xx) · same major group (2-digit SIC) · compared with 7 companies

Only companies with a capitalisation between 2.5 bn and 160.1 bn (within 8× of the company's); 82 of the vertical were left out.

Multiples and returns vs the median

P/E
16.3x
vertical median 21.2x
below median (−23.2%)
EV/EBITDA
—
vertical median 12.9x
P/S
0.2x
vertical median 2.1x
below median (−90.7%)
P/B
1.1x
vertical median 2.6x
below median (−55.5%)
ROE
7.2%
vertical median 10.7%
below median (−32.5%)
Net margin
1.2%
vertical median 7.1%
below median (−82.5%)
EBIT margin
—
vertical median 15.0%
Revenue YoY
32.4%
vertical median 4.4%
above median (+640.9%)
Net debt/EBITDA
—
vertical median 0.3x
Dividend yield
5.2%
vertical median 3.1%
above median (+66.5%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
MDLZMondelez International, Inc.85.3 bn21.215.5%10.2%+5.8%+17% / −5%
KDPKeurig Dr Pepper Inc.50.1 bn37.25.7%7.1%+8.2%+32% / +17%
MNSTMonster Beverage Corp47.8 bn22.425.7%23.1%+10.7%+30% / +77%
HSYHershey Co35.4 bn19.738.0%14.6%+4.4%−7% / −7%
ADMArcher-Daniels-Midland Co33.7 bn13.810.7%3.0%−6.2%+17% / −4%
KHCKraft Heinz Co30.1 bn—-9.0%-14.0%−3.5%−0% / −28%
GISGeneral Mills, Inc.19.2 bn—-10.6%-4.9%−5.4%−24% / −44%
BGBunge Global SA18.6 bn16.37.2%1.2%+32.4%+3% / −9%

1- and 3-year price returns: for BG from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
56.39
Total return -38% · Per year -38%
99.83
Total return 8% · Per year 8%
150.58
Total return 62% · Per year 62%
3 years
51.49
Total return -35% · Per year -14%
102.88
Total return 22% · Per year 7%
170.83
Total return 97% · Per year 25%
5 years
47.01
Total return -33% · Per year -8%
106.01
Total return 37% · Per year 6%
193.81
Total return 136% · Per year 19%
What moves the 3-year price the most
  • Exit P/E± 25.72
  • Net margin± 18.00
  • Annual revenue growth± 15.21
  • Annual dilution± 1.51

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).

In brief

Bunge Global SA (BG) is a global agribusiness company that connects farmers to consumers by processing oilseeds and merchandising grains, with operations in more than 50 countries 1. After the Viterra acquisition completed in July 2025, net sales rose 88% in the second quarter of 2026 to $24,041 million 2, and the company raised its full-year 2026 adjusted EPS outlook 3.

SWOT

Strengths

  • A global processing and merchandising base across several regions gives flexibility when markets shift 1.
  • Quarterly results in 2026 show strong growth in operating profitability 2.
  • The company has a long operating history and a leading position in several product categories 1.

Weaknesses

  • Higher debt after the Viterra acquisition has led to higher interest costs 2.
  • Cash flow from operations was negative in the first half of 2026, pointing to large working capital needs 3.
  • Profitability depends heavily on volatile raw material prices 1.

Opportunities

  • Full integration of Viterra could bring additional synergies if administrative costs stabilize 2.
  • Demand for biofuels and animal protein could support higher volumes 1.
  • Acquisitions and divestments, including transactions announced for 2026, could reshape the portfolio 1.

Threats

  • The war in Ukraine can affect operations in a region where the company has plants and terminals 1.
  • Climate change and extreme weather can reduce harvests and disrupt transport 1.
  • Competition and industry overcapacity can pressure prices and margins 1.

Risks

  • Agricultural price volatilityhigh

    Prices of grains and oilseeds can vary widely because of supply, demand and government policy, which may affect results 1.

  • War risk in Ukrainehigh

    Operations in Ukraine face property damage, inventory losses and disruption, and insurance coverage may be insufficient 1.

  • Debt after the acquisitionmedium

    Higher borrowing used to finance Viterra raises interest expense and sensitivity to credit conditions 2.

  • Climate and logistics factorsmedium

    Drought, floods and storms can interrupt river and ocean transport, which could affect deliveries 1.

  • Currency and trade risklow

    Currency swings and trade barriers can change reported results from international operations 1.

Investment thesis

What would need to be true (bull case)

  • If the Viterra integration continues to support volumes and margins, the company could sustain its recent profit growth.
  • Raising the adjusted EPS outlook signals management confidence in operational execution.
  • A global footprint and product diversity could help the company absorb regional shocks.

What would break the thesis

  • If integration and interest costs stay high, profit could lag the growth in revenue.
  • Negative operating cash flow shows that part of the growth ties up large amounts of working capital.
  • Commodity markets are volatile, and overcapacity could compress margins in the future.

What to watch

  • Quarterly results and margin trends after the Viterra integrationQ3 2026
  • Delivery against the raised 2026 adjusted EPS outlook2026
  • Closing of the European margarines divestment and the IFF Solae acquisition2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (29 Oct 2026 · results).

The business

Bunge presents itself as an agribusiness solutions company with more than 200 years of experience, buying, storing, transporting, processing and selling agricultural products, and ranking as a leading global oilseed processor and grain merchandiser by volume 1. It also provides financial, risk management and logistics services to its customers 1. The registered office is in Geneva, Switzerland, and the corporate headquarters is in Missouri, United States 1.

The Viterra acquisition, completed on July 2, 2025, was paid in shares and cash and substantially extended the company's global footprint 1. The segment structure was reorganized in the third quarter of 2025 to match the new value chain 1. Results so far show higher processed and merchandised volumes, but also higher administrative costs 2.

In the second quarter of 2026 the company completed the $2 billion share repurchase program linked to the Viterra transaction 3. However, cash used for operations remained negative in the first half of 2026, while adjusted funds from operations were $1,291 million 3.

Segments

Grain Merchandising and Milling

The segment merchandises corn, wheat, barley, cotton and sugar, and depends on global demand for poultry and pork 1. Sales volume rose to 23,852 thousand metric tons in the second quarter of 2026 3. The divestment of North American corn milling in 2025 reduced part of the comparison base 2.

Market context

The market for agricultural commodities is highly competitive, and most products are standard commodities where price, quality and location matter most 1. Demand depends on population growth, meat consumption and demand for biofuels, while supply depends on weather and farmer decisions 1. Revenues rose sharply in 2026 on a more favorable market environment 2.

Oilseed, meal and grain markets are influenced by energy, diesel and biofuel prices, which can affect revenues directly 1. Competition has also increased from petroleum companies, especially in renewable fuels in the United States 1. Changes in trade and tariff policies can shift grain and oilseed flows between regions 1.

Trends

  • Consolidation after Viterratailwind

    The acquisition expanded processing capacity and grain origination, which led to higher volumes in the second quarter of 2026 2.

  • Integration costsheadwind

    Personnel and administrative costs rose after the acquisition, and higher interest on larger debt weighs on profit 2.

  • Better market conditionstailwind

    The company reported that a more favorable market environment helped results in soybean and softseed segments 3.

  • Price and weather volatilitymixed

    Extreme weather, the war in Ukraine and energy prices can affect supply and costs, depending on how these factors develop 1.

Competitive position

In oilseed processing and grain merchandising, Bunge competes with global companies such as Archer Daniels Midland, Cargill, Louis Dreyfus, Wilmar and COFCO International, as well as many regional players 1. Competition is based on price, quality, location and logistics capability 1.

In specialty oils, competitors also include AAK AB and Fuji Oil, and products may compete with well-known branded goods and private label products 1. Companies that add processing capacity could pressure margins through excess supply 1.

  • Archer Daniels Midland Co.ADM

    Competitor in soybean processing, oilseeds and grain merchandising 1.

  • Cargill Incorporated

    Competitor across the company's main segments 1.

  • Louis Dreyfus Company

    Competitor in oilseed processing and grain trade 1.

  • Wilmar International

    Competitor in vegetable oils and oilseed processing 1.

News & filings

In the press

The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Current report03 Nov 2026
    Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
  • Quarterly report29 Oct 2026
  • Current report29 Oct 2026
    Results of operations · Financial statements and exhibits
  • Current report05 Oct 2026
    Departure or appointment of officers · Financial statements and exhibits
  • Current report21 Sept 2026
    Other events · Financial statements and exhibits
  • Current report03 Sept 2026
    Departure or appointment of officers · Financial statements and exhibits
  • Current report19 Aug 2026
    Other events · Financial statements and exhibits
  • Quarterly report29 Jul 2026
  • Current report29 Jul 2026
    Results of operations · Financial statements and exhibits
  • Current report22 May 2026
    Shareholder vote · Financial statements and exhibits

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Bunge Global SA · 19 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Bunge Global SA · 29 Jul 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Bunge Global SA · 29 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.