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1. Company Snapshot

1.a. Company Description

Bunge Limited operates as an agribusiness and food company worldwide.It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy.The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains primarily wheat and corn; and processes oilseeds into vegetable oils and protein meals.


This segment offers its products for animal feed manufacturers, livestock producers, wheat and corn millers, and other oilseed processors, as well as third-party edible oil processing and biofuel companies; and for industrial and biodiesel production applications.The Refined and Specialty Oils segment sells packaged and bulk oils and fats that include cooking oils, shortenings, margarines, mayonnaise, and other products for baked goods companies, snack food producers, confectioners, restaurant chains, foodservice operators, infant nutrition companies, and other food manufacturers, as well as grocery chains, wholesalers, distributors, and other retailers.The Milling segment provides wheat flours and bakery mixes; corn milling products that comprise dry-milled corn meals and flours, wet-milled masa and flours, and flaking and brewer's grits, as well as soy-fortified corn meal, corn-soy blends, and other products; whole grain and fiber ingredients; quinoas and millets; die-cut pellets; and non-GMO products.


The Sugar and Bioenergy segment produces sugar and ethanol; and generates electricity from burning sugarcane bagasse.Bunge Limited was founded in 1818 and is headquartered in St. Louis, Missouri.

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1.b. Last Insights on BG

Bunge Global's recent performance was positively driven by the company's Q2 earnings beat, with a quarterly earnings of $1.31 per share, exceeding the Zacks Consensus Estimate of $1.19 per share. The company's agribusiness results were better than expected, driven by Processing. Additionally, the recent tariff threats between the U.S. and China on cooking oil imports have been a catalyst for the stock. Bunge's dominant position in Brazil and global agribusiness, plus its recent merger with Viterra, are expected to drive long-term growth. (Source: Zacks)

1.c. Company Highlights

2. Bunge's Q3 2025 Earnings: A Strong Performance Amidst Complexity

Bunge's financial performance in Q3 2025 was marked by a reported earnings per share (EPS) of $0.86, compared to $1.56 in the same quarter last year. However, on an adjusted basis, EPS was $2.27, beating analyst estimates of $2.23. The company's revenues growth is expected to surge by 31.4% next year, driven by the integration of Viterra and a more balanced global footprint. The adjusted EPS was driven by improved results in soybean and softseed processing and refining segments, showcasing the benefits of the combined company's end-to-end value chain operating model. As Gregory Heckman, CEO, noted, "the combined company has a proven end-to-end value chain operating model, enabling agility, transparency, and collaboration across origination, merchandising, processing, and refining."

Publication Date: Nov -10

📋 Highlights
  • Q3 Adjusted EPS of $2.27: driven by Viterra's accretive contribution and improved soy/softseed processing margins
  • $900M discretionary cash flow: allocated to $324M dividends and $903M growth/productivity CapEx
  • Full-year 2025 adjusted EPS guidance: narrowed to $7.30–$7.60 ($4–$4.25 Q4 expected)
  • $700M+ synergy capture: anticipated by 2026-2027 from integration (2026: $100M+ step change)
  • 2.2x adjusted leverage ratio: with net debt exceeding inventories by $900M at Q3 end

Segment Performance and Outlook

The company's soybean and softseed processing segments saw significant improvements, contributing to the adjusted EPS of $2.27. The grain business is expected to offer more stability in earnings, with opportunities to earn money from storage, drying, handling, and blending. The company expects a softer Q4 in soy and soft processing due to policy uncertainty and customer behavior, while grain merchandising and milling should improve due to the timing of harvests. Big crops in South America, a more balanced China program, and strong global soybean and veg oil demand are expected to drive mid-cycle earnings improvement.

Capital Allocation and Valuation

Bunge generated approximately $900 million of discretionary cash flow in Q3 2025 and invested $903 million in growth and productivity-related CapEx. The company has restarted share buybacks, with $545 million so far, and expects to continue this going forward. With a current P/E Ratio of 9.35 and an EV/EBITDA of 8.77, the market appears to have priced in a reasonable level of earnings growth. The Dividend Yield stands at 2.91%, providing a relatively stable return for investors. The ROE of 13.28% indicates a decent return on equity, while the ROIC of 4.67% suggests that the company's investments are generating returns, albeit at a lower rate.

Synergies and Future Prospects

The company expects to capture meaningful synergies in 2026, with a bigger step change in 2027, driven by commercial and cost synergies. The integration of Viterra has been progressing well, with positive surprises in terms of cultural alignment and team collaboration. The company's global footprint, particularly in soy crush, allows it to benefit from growth in Argentina and other regions. As Gregory Heckman noted, "we've had positive surprises...the cultures being very similar and the teams working well together."

3. NewsRoom

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What Makes Bunge Global (BG) a New Strong Buy Stock

Dec -04

Source: zacks.com

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Best Momentum Stocks to Buy for Dec.4

Dec -04

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New Strong Buy Stocks for December 4th

Dec -04

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Dec -04

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Dec -04

Source: zacks.com

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Creative Planning Buys 1,777 Shares of Bunge Global SA $BG

Dec -02

Source: defenseworld.net

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Barings LLC Buys 1,406 Shares of Bunge Global SA $BG

Nov -23

Source: defenseworld.net

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Campbell & CO Investment Adviser LLC Purchases New Shares in Bunge Global SA $BG

Nov -17

Source: defenseworld.net

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.00%)

6. Segments

Agribusiness

Expected Growth: 1.0%

Bunge Limited's Agribusiness segment growth of 1.0 is driven by increasing global demand for soybeans and grains, expansion in emerging markets, and strategic acquisitions. Additionally, the company's focus on operational efficiency, cost savings, and investments in digital technologies have contributed to its growth.

Refined and Specialty Oils

Expected Growth: 1.0%

Bunge Limited's Refined and Specialty Oils segment growth is driven by increasing demand for premium edible oils, expansion in emerging markets, and strategic acquisitions. Additionally, the company's focus on product innovation, sustainability, and operational efficiency improvements contribute to its 1.0% growth rate.

Milling

Expected Growth: 1.0%

Bunge Limited's milling segment growth of 1.0 is driven by increasing demand for wheat and corn-based products, expansion into emerging markets, and strategic acquisitions. Additionally, investments in operational efficiency and product innovation have improved margins, while favorable weather conditions and government subsidies have supported crop yields.

Sugar and Bioenergy

Expected Growth: 1.0%

Bunge's Sugar and Bioenergy segment growth is driven by increasing global demand for ethanol, favorable government policies, and rising sugar prices. Additionally, the company's focus on operational efficiency, cost savings, and strategic partnerships contribute to its 1.0 growth rate.

Corporate & Other

Expected Growth: 1.0%

Bunge's Corporate & Other segment growth of 1.0% is driven by improved cost management, reduced SG&A expenses, and increased efficiency in its global operations. Additionally, the company's strategic investments in digitalization and process automation have enhanced productivity, contributing to the segment's growth.

7. Detailed Products

Soybean Crush

Bunge Limited is a leading processor of soybeans, producing soybean meal and soybean oil for use in animal feed, food products, and industrial applications.

Wheat Milling

Bunge Limited operates wheat mills that produce flour for bread, baked goods, and other food products.

Edible Oils

Bunge Limited produces edible oils such as canola oil, sunflower oil, and soybean oil for use in food products and food processing.

Sugar and Bioenergy

Bunge Limited produces sugar and ethanol from sugarcane in Brazil, used as a biofuel and in food products.

Fertilizers

Bunge Limited produces fertilizers such as nitrogen, phosphorus, and potassium-based products for agricultural use.

Grain Trading

Bunge Limited trades grains such as corn, wheat, and soybeans, connecting farmers with food and feed manufacturers.

8. Bunge Limited's Porter Forces

Forces Ranking

Threat Of Substitutes

Bunge Limited operates in the agribusiness and food industry, where substitutes are available but not easily accessible. The company's products are largely commoditized, but its strong brand recognition and distribution network provide some protection.

Bargaining Power Of Customers

Bunge Limited's customers are largely comprised of large food manufacturers and retailers, who have some bargaining power. However, the company's diversified customer base and strong relationships mitigate this power.

Bargaining Power Of Suppliers

Bunge Limited's suppliers are primarily farmers and producers of agricultural commodities. While the company has some bargaining power due to its scale, suppliers also have some power due to the fragmented nature of the agricultural industry.

Threat Of New Entrants

The agribusiness and food industry has high barriers to entry, including significant capital requirements and complex supply chains. This limits the threat of new entrants to Bunge Limited's business.

Intensity Of Rivalry

The agribusiness and food industry is highly competitive, with several large players competing for market share. Bunge Limited faces intense rivalry from companies such as Archer Daniels Midland, Cargill, and Louis Dreyfus Company.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 32.35%
Debt Cost 7.19%
Equity Weight 67.65%
Equity Cost 7.19%
WACC 7.19%
Leverage 47.83%

11. Quality Control: Bunge Limited passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Bunge

A-Score: 5.4/10

Value: 8.0

Growth: 5.6

Quality: 3.8

Yield: 6.0

Momentum: 2.5

Volatility: 6.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

93.63$

Current Price

93.63$

Potential

-0.00%

Expected Cash-Flows