# Bunge Global SA (BG)

> Source: Nexqual · https://nexqual.com/BG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Bunge Global SA (BG), nexqual.com/BG" · informational, not investment advice.

**Price:** USD 103.15 (+0.90% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 102.23 · day 100.5–103.2 · 52w 88.24–134.87 · market cap $19.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $91.8B, net income $1.01B (1.1% margin), free cash flow -$711M (SEC filings).
- Valuation: P/E 19.7x (avg 11.6x at the last 3 fiscal year-ends), net debt $9.84B.
- 1 of 80 tracked superinvestors hold BG (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.78 on a 1–5 scale) (9 analysts), mean target USD 140.56 (range 116–155).
- Total return with dividends: 1Y +9.4% vs S&P 500 +14.9%; 5Y +33.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 2.42, revenue estimate $22.8B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $59.2B | $67.2B | $59.5B | $53.1B | $70.3B | $91.8B |
| Gross profit | $3.36B | $3.68B | $4.84B | $3.39B | $3.41B | — |
| Net income | $2.08B | $1.61B | $2.24B | $1.14B | $816M | $1.01B |
| EPS (diluted) | $13.64 | $10.51 | $14.87 | $7.99 | $4.91 | — |
| Free cash flow | -$3.29B | -$6.10B | $2.19B | $524M | -$879M | -$711M |
| Gross margin | 5.7% | 5.5% | 8.1% | 6.4% | 4.8% | — |
| Net margin | 3.5% | 2.4% | 3.8% | 2.1% | 1.2% | 1.1% |
| Revenue growth | — | +13.7% | -11.4% | -10.8% | +32.4% | — |
| Cash + short-term investments | $902M | $1.22B | $2.71B | $3.79B | $2.00B | — |
| Total debt | — | $4.11B | $4.08B | $5.36B | $10.2B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 19.7x · P/S 0.2x · EV/Sales 0.3x · P/B 1.2x · FCF yield -3.59% · Earnings yield 5.08% · Dividend yield (paid, TTM) 2.77% · Net debt $9.84B · EV $29.7B
P/E at fiscal year-ends: Dec 2025 18.2x, Dec 2024 9.7x, Dec 2023 6.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold BG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.04% | $4.3M | Added +66.9% |

## Analysts
Consensus Buy (mean 1.78 on a 1–5 scale), 9 analysts; mean target USD 140.56 (low 116, high 155).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | JP Morgan | Target lowered | Overweight | $140 → $139 |
| 2026-09-10 | UBS | Target raised | Buy | $145 → $155 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +9.4% | +33.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +9.4% | +5.9% |
| Volatility (annualized) | 29.5% | 29.3% |
| Max drawdown | -21.7% (Jun 2026→Oct 2026) | -39.7% (Apr 2022→Feb 2025) |

## Peers (Farm Products)
TSN (Tyson Foods, Inc.) USD 57.07 +2.09% · ADM (Archer-Daniels-Midland Company) USD 79.84 +0.60% · CALM (Cal-Maine Foods, Inc.) USD 63.83 +5.31% · AGRO (Adecoagro S.A.) USD 9.83 +3.69% · DMC (Del Monte Corporation) USD 29.93 +7.28% · DOLE (Dole plc) USD 13.52 +3.13%

## More
Full page: https://nexqual.com/BG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Soybean Processing and Refining | $2.05B | 8.5% | +30.0% |
| Softseed Processing and Refining | $1.20B | 5.0% | +41.4% |
| Tropical Oils and Specialty Ingredients | $1.18B | 4.9% | +8.1% |
| Grain Merchandising and Milling | $501.0M | 2.1% | -0.6% |
| Total revenue | $24.04B | 100% | — |
The lines above cover 20.5% of total revenue.

## Revenue by product line (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Soybean Processing and Refining | $36.31B | 51.6% | +13.7% |
| Grain Merchandising | $16.58B | 23.6% | +94.7% |
| Softseed Processing and Refining | $11.25B | 16.0% | +61.9% |
| Other Oilseeds Processing & Refining | $4.63B | 6.6% | +11.6% |
| Milling Products | $1.54B | 2.2% | -0.6% |
| Other Products | $3.0M | 0.0% | +0.0% |
| Total revenue | $70.33B | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Segment Geographical Groups Of Countries Group Three | $30.48B | 43.3% | +30.6% |
| United States | $15.64B | 22.2% | +10.2% |
| Switzerland | $15.60B | 22.2% | +9.5% |
| Netherlands | $8.61B | 12.2% | +548.5% |
| Total revenue | $70.33B | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "Outlook (4) Taking into account second quarter results, the current margin and macro environment and forward curves, Bunge now expects full-year 2026 adjusted EPS in the range of $9.25 to $9.75, which is up from its previous range of $9.00 to $9.50."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.42 | $2.59 | -6.5% | $22.79B | 7 |
| Next quarter (ends 2026-12-31) | $3.27 | $3.11 | +5.3% | $23.35B | 7 |
| Current fiscal year (ends 2026-12-31) | $9.51 | $9.45 | +0.7% | $91.74B | 7 |
| Next fiscal year (ends 2027-12-31) | $11.23 | $11.15 | +0.7% | $94.23B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±9.2%; last 8 reports averaged ±4.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 39.0% | ±9.2% |
| 2026-12-18 | 56 | 34.8% | ±10.5% |
| 2027-01-15 | 84 | 34.5% | ±13.4% |
| 2027-04-16 | 175 | 35.4% | ±19.5% |