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BGBunge Global

Consumer staples · Agricultural Products · NYSE
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FY2025 at a glance

Sales up 32.4%, free cash flow down to -$879.0M

XBRL, from each 10-K
RevenueStatements ↓
$70.3B
from $53.1B in FY2024
FY2021FY2025
Net incomeStatements ↓
$816.0M
from $1.1B in FY2024
FY2021FY2025
Free cash flowStatements ↓
-$879.0M
from $524.0M in FY2024
FY2021FY2025
EPS (diluted)Statements ↓
$4.91
from $7.99 in FY2024
FY2021FY2025
Total debtStatements ↓
$14.1B
from $6.2B in FY2024
FY2021FY2025
Price and key numbers

The latest figures

All key numbers (36, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)5.76Sales (ttm)93.5BNet income (ttm)1.2BSales growth+32.4%EPS growth-38.5%Sales Q/Q+7.4%
Free cash flow-2.7BGross margin5.1%Oper. margin-Net margin1.2%FCF margin-2.8%ROE7.1%
ROA2.3%R&D / sales0.0%Dividend2.80Debt/Eq1.03Curr. ratio1.50Cash524.0M
Op. cash flow (ttm)-955.0MNet debt16.2BQuick ratio0.82Payout ratio57.0%Tax rate25.4%Stock pay / sales0.1%
Shares out.192.1MShares Y/Y+17.0%Book / share84.81Cash / share2.73Sales / share486.45Asset turnover1.88
Inventory turns5.07Days sales out.20Sales 3Y CAGR+1.5%EPS 3Y CAGR-22.4%Employees34,000Sales / employee2.7M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt rose 125%$6.2B → $14.1B · Short-term + long-term debt at year end
  • Free cash flow turned negative$524.0M → −$879.0M · Cash from operations − capital expenditure · 10-K ↗
  • Revenue growth sped up to +32.4%-10.8% → +32.4% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

BG against Consumer staples peers

Ten years, side by side → · All 34 →
GrowthProfitBalanceCleanInsiders
BGPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 34 companies, the better end on the right. Hover a dot for the company.

Sales growth
+32.4%1st of 33 · median +2.1%
Net margin
1.2%29th of 33 · median 8.0%
Return on equity
7.1%23rd of 29 · median 18.6%
Free cash flow margin
-2.8%33rd of 33 · median 10.7%
Debt / equity (less is better)
1.0318th of 29 · median 0.82
BG and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
BG Bunge Global$93.5B +32.4%5.1%1.2%7.1%-2.8%1.03
TGT Target Corporation$107.7B -1.7%29.3%4.1%24.6%4.1%0.86
PEP PepsiCo$98.2B +2.3%54.2%11.1%48.9%10.7%2.13
PG Procter & Gamble$87.9B +3.3%49.8%18.2%29.0%17.4%0.70
SYY Sysco$85.1B +3.9%18.5%2.1%44.7%2.6%3.42
ADM Archer Daniels Midland$84.1B -6.2%7.4%3.0%10.4%0.4%0.37
Where each dollar goes

From $59.2B of sales to $2.1B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $3.4BRevenue to Cost of revenue: $55.8BGross profit to Net profit: $2.1BGross profit to Costs, tax, other: $1.3B Revenue: $59.2B Revenue$59.2B Gross profit: $3.4B · 6% margin Gross profit$3.4B6% margin Cost of revenue: $55.8B · 94% of revenue Cost of revenue$55.8B94% of revenue Net profit: $2.1B · 4% margin Net profit$2.1B4% margin Costs, tax, other: $1.3B · 2% of revenue Costs, tax, other$1.3B2% of revenue

Swipe sideways for the whole flow →

From $67.2B of sales to $1.6B of profit

FY2022, from the 10-K income statement and revenue by product
Milling to Revenue: $2.4BOther Products to Revenue: $35.0MAgribusiness Processing Products to Revenue: $32.8BRefined and Specialty Oils to Revenue: $16.9BAgribusiness Merchandising Products to Revenue: $14.9BSugar and Bioenergy Products to Revenue: $259.0MRevenue to Gross profit: $3.7BRevenue to Cost of revenue: $63.5BGross profit to Net profit: $1.6BGross profit to Costs, tax, other: $2.1B Milling: $2.4B · 4% Milling$2.4B4% Other Products: $35.0M · 0% Other Products$35.0M0% Agribusiness Processing Products: $32.8B · 49% Agribusiness Processing…$32.8B49% Refined and Specialty Oils: $16.9B · 25% Refined and Specialty O…$16.9B25% Agribusiness Merchandising Products: $14.9B · 22% Agribusiness Merchandis…$14.9B22% Sugar and Bioenergy Products: $259.0M · 0% Sugar and Bioenergy Pro…$259.0M0% Revenue: $67.2B Revenue$67.2B +14% Y/Y Gross profit: $3.7B · 5% margin Gross profit$3.7B5% margin +9% Y/Y Cost of revenue: $63.5B · 95% of revenue Cost of revenue$63.5B95% of revenue Net profit: $1.6B · 2% margin Net profit$1.6B2% margin −23% Y/Y Costs, tax, other: $2.1B · 3% of revenue Costs, tax, other$2.1B3% of revenue

Swipe sideways for the whole flow →

From $59.5B of sales to $2.2B of profit

FY2023, from the 10-K income statement
Revenue to Gross profit: $4.8BRevenue to Cost of revenue: $54.7BGross profit to Net profit: $2.2BGross profit to Costs, tax, other: $2.6B Revenue: $59.5B Revenue$59.5B −11% Y/Y Gross profit: $4.8B · 8% margin Gross profit$4.8B8% margin +32% Y/Y Cost of revenue: $54.7B · 92% of revenue Cost of revenue$54.7B92% of revenue Net profit: $2.2B · 4% margin Net profit$2.2B4% margin +39% Y/Y Costs, tax, other: $2.6B · 4% of revenue Costs, tax, other$2.6B4% of revenue

Swipe sideways for the whole flow →

From $53.1B of sales to $1.1B of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $3.4BRevenue to Cost of revenue: $49.7BGross profit to Net profit: $1.1BGross profit to Costs, tax, other: $2.3B Revenue: $53.1B Revenue$53.1B −11% Y/Y Gross profit: $3.4B · 6% margin Gross profit$3.4B6% margin −30% Y/Y Cost of revenue: $49.7B · 94% of revenue Cost of revenue$49.7B94% of revenue Net profit: $1.1B · 2% margin Net profit$1.1B2% margin −49% Y/Y Costs, tax, other: $2.3B · 4% of revenue Costs, tax, other$2.3B4% of revenue

Swipe sideways for the whole flow →

From $70.3B of sales to $816.0M of profit

FY2025, from the 10-K income statement and revenue by product
Soybean Processing and Refining to Revenue: $36.3BMerchandising Products to Revenue: $16.6BSoftseed Processing and Refining to Revenue: $11.3BOther Oilseeds Processing and Refining to Revenue: $4.6BMilling to Revenue: $1.5BOther Products to Revenue: $3.0MRevenue to Gross profit: $3.4BRevenue to Cost of revenue: $66.9BGross profit to Net profit: $816.0MGross profit to Costs, tax, other: $2.6B Soybean Processing and Refining: $36.3B · 52% Soybean Processing and…$36.3B52% Merchandising Products: $16.6B · 24% Merchandising Products$16.6B24% Softseed Processing and Refining: $11.3B · 16% Softseed Processing and…$11.3B16% Other Oilseeds Processing and Refining: $4.6B · 7% Other Oilseeds Processi…$4.6B7% Milling: $1.5B · 2% Milling$1.5B2% Other Products: $3.0M · 0% Other Products$3.0M0% Revenue: $70.3B Revenue$70.3B +32% Y/Y Gross profit: $3.4B · 5% margin Gross profit$3.4B5% margin +0% Y/Y Cost of revenue: $66.9B · 95% of revenue Cost of revenue$66.9B95% of revenue Net profit: $816.0M · 1% margin Net profit$816.0M1% margin −28% Y/Y Costs, tax, other: $2.6B · 4% of revenue Costs, tax, other$2.6B4% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Costs, tax, other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 4
  • !
    Net margin below the peer median1.2% vs 8.0%
  • !
    Gross margin down over 4 years5.7% → 4.8%
  • !
    Return on equity below 15%7.1%
  • ✓
    A profit in every one of 5 years
Net margin, FY2021 to FY2025: 3.5% → 1.2%

Balance sheet

1 of 2
  • !
    Debt larger than equityDebt / equity 1.03 on the latest balance sheet (peer median 0.82)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.50
Debt / equity at each year end, FY2021 to FY2025: 0.50 → 0.88
What the debt is made of ↓

Cash and shareholders

2 of 4
  • !
    Free cash flow positive in 2 of 5 years−$879.0M last year
  • !
    Share count up over 4 years+9.3%
  • ✓
    Dividend per share up over 4 years$2.08 → $2.80
  • ✓
    Cash from operations above net income$844.0M vs $816.0M
Free cash flow, FY2021 to FY2025: -3.3B → -879.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$10.4B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2021 to FY2025

Revenue 70.3B Net income 816.0M
FY2021 revenue 59.2B · Revenues, 0001996862-24-000007 FY2021 net income 2.1B · NetIncomeLoss, 0001996862-24-000007 59.2B FY2021 FY2022 revenue 67.2B · Revenues, 0001996862-25-000008 FY2022 net income 1.6B · NetIncomeLoss, 0001996862-25-000008 67.2B FY2022 FY2023 revenue 59.5B · Revenues, 0001628280-26-009842 FY2023 net income 2.2B · NetIncomeLoss, 0001628280-26-009842 59.5B FY2023 FY2024 revenue 53.1B · Revenues, 0001628280-26-009842 FY2024 net income 1.1B · NetIncomeLoss, 0001628280-26-009842 53.1B FY2024 FY2025 revenue 70.3B · Revenues, 0001628280-26-009842 FY2025 net income 816.0M · NetIncomeLoss, 0001628280-26-009842 70.3B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

BG's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue70.3B
FY2021: 59.2BFY2022: 67.2BFY2023: 59.5BFY2024: 53.1BFY2025: 70.3B FY2021FY2022FY2023FY2024FY2025
Net income816.0M
FY2021: 2.1BFY2022: 1.6BFY2023: 2.2BFY2024: 1.1BFY2025: 816.0M FY2021FY2022FY2023FY2024FY2025
Free cash flow-879.0M
FY2021: -3.3BFY2022: -6.1BFY2023: 2.2BFY2024: 524.0MFY2025: -879.0M FY2021FY2022FY2023FY2024FY2025
EPS (diluted)4.91
FY2021: 13.64FY2022: 10.51FY2023: 14.87FY2024: 7.99FY2025: 4.91 FY2021FY2022FY2023FY2024FY2025
Dividend per share2.80
FY2021: 2.08FY2022: 2.40FY2023: 2.61FY2024: 2.72FY2025: 2.80 FY2021FY2022FY2023FY2024FY2025
Diluted shares166.5M
FY2021: 152.4MFY2022: 153.1MFY2023: 150.8MFY2024: 142.2MFY2025: 166.5M FY2021FY2022FY2023FY2024FY2025

The segments changed

10-K filed 2026-02-19

Compared with the 10-K of Feb 20, 2025: new segments Grain Merchandising And Milling, Other Oilseeds Processing And Refining, Softseed Processing And Refining, Soybean Processing And Refining; no longer reported: Agribusiness, Edible Oil Products, Milling Products, Sugar And Bioenergy.

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Soybean Processing And Refining 6.6B9.4% +7.5%
Other Oilseeds Processing And Refining 4.5B6.4% +9.7%
Softseed Processing And Refining 3.6B5.1% +14.9%
Grain Merchandising And Milling 2.2B3.2% +3.2%

10-K 0001628280-26-009842, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Soybean Processing and Refining 36.3B51.6% +13.7%
Merchandising Products 16.6B23.6% +94.7%
Softseed Processing and Refining 11.3B16.0% +61.9%
Other Oilseeds Processing and Refining 4.6B6.6% +11.6%
Milling 1.5B2.2% -0.6%
Other Products 3.0M0.0% 0.0%

10-K 0001628280-26-009842, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
Rest of world 30.5B43.3% +30.6%
United States 15.6B22.2% +10.2%
Switzerland 15.6B22.2% +9.5%
Netherlands 8.6B12.2% +548%

10-K 0001628280-26-009842, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2021FY2022FY2023FY2024FY2025
Revenue59.2B67.2B59.5B53.1B70.3B
Cost of revenue55.8B63.5B54.7B49.7B66.9B
Gross profit3.4B3.7B4.8B3.4B3.4B
R&D33.0M33.0M35.0M30.0M28.0M
SG&A1.2B1.4B1.7B1.8B2.1B
Interest expense243.0M403.0M516.0M471.0M628.0M
Pretax income2.6B2.1B3.1B1.5B1.1B
Income tax398.0M388.0M714.0M336.0M288.0M
Net income2.1B1.6B2.2B1.1B816.0M
EPS (diluted)13.6410.5114.877.994.91
Diluted shares152.4M153.1M150.8M142.2M166.5M
Depreciation & amortization424.0M408.0M451.0M468.0M703.0M
Gross margin5.7%5.5%8.1%6.4%4.8%
Net margin3.5%2.4%3.8%2.1%1.2%
Revenue growth-+13.7%-11.4%-10.8%+32.4%
EPS growth--22.9%+41.5%-46.3%-38.5%

Balance sheet

From EDGAR
FY2021FY2022FY2023FY2024FY2025
Cash902.0M1.1B2.6B3.3B1.1B
Short-term investments-119.0M105.0M484.0M861.0M
Receivables-2.8B2.6B2.1B3.9B
Inventory-8.4B7.1B6.5B13.2B
Current assets-16.8B16.4B16.0B24.4B
Property & equipment-3.6B4.5B5.3B-
Goodwill-470.0M489.0M453.0M3.1B
Total assets23.8B24.6B25.4B24.9B44.5B
Accounts payable-4.4B3.7B2.8B4.9B
Current liabilities-9.6B7.7B7.4B15.1B
Total debt-4.7B4.9B6.2B14.1B
Shareholders' equity7.8B9.2B10.9B9.9B15.9B
Retained earnings-10.2B12.1B12.8B13.2B

Cash flow

From EDGAR
FY2021FY2022FY2023FY2024FY2025
Operating cash flow-2.9B-5.5B3.3B1.9B844.0M
Capital spending399.0M555.0M1.1B1.4B1.7B
Free cash flow-3.3B-6.1B2.2B524.0M-879.0M
Stock-based pay (added back)61.0M65.0M69.0M65.0M73.0M
Dividends paid289.0M349.0M383.0M378.0M459.0M
Buybacks100.0M200.0M600.0M1.1B551.0M
Acquisitions--004.2B
Debt raised1.0B300.0M1.0B2.0B3.6B
Debt repaid4.0M1.0B1.2B753.0M2.4B
Investing cash flow5.1B6.5B-1.0B-1.1B-5.2B
Financing cash flow-1.6B-769.0M-856.0M-90.0M2.2B
Dividend per share2.082.402.612.722.80

Stock-based pay and leases

From EDGAR
FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)61.0M65.0M69.0M65.0M73.0M
Stock-based pay / revenue0.1%0.1%0.1%0.1%0.1%
Operating lease cost-479.0M507.0M420.0M550.0M
Operating lease cash paid-480.0M506.0M421.0M548.0M
Right-of-use assets-1.0B926.0M932.0M1.7B
Operating lease liabilities-972.0M874.0M881.0M1.6B
Finance lease liabilities-17.0M60.0M87.0M180.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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