Bunge Global

Financial Performance

5Y price score: 56

10Y return: 104.4%

DATE RANGE:

US$ Per
Share

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76.0

52-week range

134.8

112.73

Your model inputs

Required return / cost of capital

FCFF terminal growth rate

Your fair value & Margin of safety

To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.

Forecast:

Valuation

Free Cash Flow Yield

(3.2) %

Dividend Yield TTM

2.5 %

Market cap $

$ 21,658

Price / Earnings TTM

21.9

Price / Book TTM

1.4

PEG TTM

(0.6)

Earnings growth and return

LTM

5YR

10YR

Total return (price & dividends)

38.8 %

58.1 %

104.4 %

Free cash flow per share growth

(243.1) %

79.7 %

(1,958) %

Earnings per share growth

(38.4) %

(36.2) %

(3) %

Founded: 1,818

Employees: 34,000

Business Summary:Bunge Global S.A., established in 1818 and headquartered in St. Louis, Missouri, operates as a prominent international agribusiness and food corporation. Its diverse operations are categorized into four main divisions: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment involves the sourcing, storage, transportation, processing, and sale of agricultural goods and their derivatives. Key commodities include various oilseeds such as soybeans, rapeseed, canola, and sunflower seeds, alongside grains like wheat and corn. These oilseeds are further processed into vegetable oils and protein-rich meals. This segment supplies a wide range of clients, including animal feed and livestock producers, millers of wheat and corn, other oilseed processors, and companies involved in edible oil and biofuel production, catering to both industrial and biodiesel applications. The Refined and Specialty Oils division produces and distributes a variety of packaged and bulk oils and fats. Offerings span cooking oils, shortenings, margarines, and mayonnaise, as well as specialized products for baked goods, snacks, and confectionery. Its clientele includes food manufacturers (e.g., bakeries, snack producers, confectioners, infant nutrition companies), restaurant chains, foodservice providers, and various retail channels such as grocery stores, wholesalers, and distributors. Within the Milling segment, Bunge provides an array of milled products. This includes diverse wheat flours and bakery mixes. Corn milling offerings encompass dry and wet-milled corn meals and flours, masa, flaking, and brewer's grits, along with fortified corn meals and blends. The segment also supplies whole grain and fiber ingredients, specialty grains like quinoa and millet, die-cut pellets, and non-genetically modified products. Finally, the Sugar and Bioenergy segment focuses on the production of sugar and ethanol. An additional activity in this division is the generation of electricity by utilizing sugarcane bagasse.

Fair Value Reference Estimate

Latest Earnings Call Takeaways

2026 Q2 (Jul 29, 2026)

1) Strategy & Leadership
- Bunge's CEO, Greg Heckman, emphasized the company's ability to navigate a dynamic operating environment, leveraging its diversified global platform across crops and geographies.
- The integration of Viterra is progressing well, with cost synergies running ahead of plan and operational improvements being realized.
- Bunge is focused on serving customers and delivering value across food, feed, and fuel sectors, with a strong emphasis on sustainability and renewable fuels.

2) Financial & Segment Results
- Q2 2026 reported EPS was $3.47, up from $2.61 in Q2 2025. Adjusted EPS was $2, compared to $1.31 YoY.
- Adjusted EBIT for the quarter was $796 million, significantly higher than $373 million in the prior year.
- Key segment performances:
| Segment | Q2 2026 Performance | YoY Comparison | |------------------------------|------------------------------------------|-------------------------------------| | Soybean Processing & Refining | Strong results in North and South America | Higher results in Argentina and Brazil | | Softseed Processing & Refining | Increased results across all regions | Favorable market conditions | | Tropical Oils & Specialty Ingredients | Higher results in Europe and Asia | Lower results in North America | | Grain Merchandising & Milling | Mixed results; higher ocean freight and commercial services | Lower global grain merchandising |

3) Problems / Headwinds
- Geopolitical tensions and changing weather patterns are causing market volatility, impacting crop availability and farmer behavior.
- The company noted challenges in the merchandising environment, particularly due to uncertainty in the Black Sea region affecting wheat supply.
- Elevated energy prices are influencing margins, particularly in the U.S. crush market.

4) Operational or Product Plans
- Bunge is advancing several capital projects, including a new multi-seed processing plant in Louisiana expected to be operational soon.
- The company is also exploring partnerships in renewable fuels, including agreements with Acelen and Petrobras for sustainable feedstocks.
- The outlook for 2026 remains positive, with adjusted EPS guidance raised to $9.25 to $9.75 from a previous range of $9 to $9.50.

5) Guidance & Outlook / Investor Angle
- Bunge expects continued strong demand for grain and oilseed products, driven by population growth and rising incomes.
- The company anticipates a balanced second half of 2026, with improved margins in the U.S. and stable performance in Argentina.
- The adjusted annual effective tax rate is expected to remain between 22% to 26%, with net interest expense projected at $620 million to $660 million.

Bottom line: Bunge's diversified platform and strategic initiatives position it well to navigate market complexities, with strong earnings growth expected in 2026, making it an attractive investment for shareholders.

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