At a glance
Bunge Limited is worth $18.10B, about 19 times its fiscal 2025 earnings. Revenue grew 32.4% to $70.33B in fiscal 2025, with 1.2% kept as profit; over 4 years it has grown 4.4% a year. It pays a 3.01% dividend yield, raised every year for at least 4 years, and returned $4.41B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +2.2% over the past year with dividends reinvested and +3.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 44.0% in the 2020 crash (S&P 500: 33.7%) and 34.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 40 months after the lows.
The business in plain English
Bunge Global is a leading global oilseed processor and grain trader, incorporated in Switzerland and operating in more than 50 countries. It buys soybeans, canola, sunflower seed, corn, wheat and other crops from farmers, then stores, ships, processes and sells them. Its main customers are animal feed makers, livestock producers, biofuel companies and food manufacturers such as bakeries, snack makers and restaurant chains. It also sells packaged plant-based oils and, in South America, wheat flour and bakery mixes.
The core business is "crushing": pressing oilseeds into protein meal, mostly for animal feed, and vegetable oil for food and biofuel. Bunge earns the gap between what it pays for seeds and what meal and oil sell for. It also earns money trading and shipping grain and offering financing and risk management services. Margins are thin: in fiscal 2025, revenue was $70.3 billion, gross margin 4.8% and net margin (profit as a share of sales) 1.2%.
Soybean Processing and Refining produced 51.6% of fiscal 2025 revenue, with 47% of its crushing capacity in South America. Grain Merchandising and Milling made up 25.8%, Softseed Processing and Refining (canola, rapeseed and sunflower, 53% of capacity in Europe) 16%, and Other Oilseeds, such as palm and shea oils, 6.6%. Bunge's acquisition of Viterra affects the soybean, softseed and grain segments.
Price history
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BG +2.2% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Soybean Processing and Refining | $36.31B | 51.6% |
| Merchandising Products | $16.58B | 23.6% |
| Softseed Processing and Refining | $11.25B | 16% |
| Other Oilseeds Processing and Refining | $4.63B | 6.6% |
| Milling | $1.54B | 2.2% |
| Other Products | $3.0M | 0% |
By business segment
| Soybean Processing and Refining | $36.31B | 51.6% |
| Grain Merchandising and Milling | $18.13B | 25.8% |
| Softseed Processing and Refining | $11.25B | 16% |
| Other Oilseeds Processing and Refining | $4.63B | 6.6% |
By geography
| Rest of world | $30.48B | 43.3% |
| United States | $15.64B | 22.2% |
| Switzerland | $15.60B | 22.2% |
| The Netherlands | $8.61B | 12.2% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $23.80B, up 7.4% from a year earlier, and net income was $318.0M (+91.6%).
- For fiscal 2025, revenue was $70.33B (+32.4% year over year; +4.4% a year from FY2021 to FY2025) with a 1.2% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2025) | +4.4% watch |
|---|---|
| Free cash flow margin | -1.2% weak |
| Return on equity (FY2025) | 5.1% weak |
| Return on assets (FY2025) | 1.8% weak |
| Net cash (cash minus debt) | $-15.72B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $59.15B | $2.08B | $-3.29B |
| FY2022 | $67.23B | $1.61B | $-6.10B |
| FY2023 | $59.54B | $2.24B | $2.19B |
| FY2024 | $53.11B | $1.14B | $524.0M |
| FY2025 | $70.33B | $816.0M | $-879.0M |
Valuation snapshot
| Market value | $18.10B |
|---|---|
| P/E ratio | 19.2 |
| Dividend yield | 3.01% |
Rank among 1514 US companies
Market value at each year end
Bunge Limited’s market value went from $16.29B at the end of 2024 to $18.10B on Nov 2, 2026, up 11%; since the end of 2025 it is up 5%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $18.10B | +5.1% |
| 2025 | $17.22B | +5.8% |
| 2024 | $16.29B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BG price data to Nov 2, 2026 | +7.7% | +2.2% | -0.9% | +3.4% | +6.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +7.7% |
| 2025 | +18.6% |
| 2024 | -20.8% |
| 2023 | +3.8% |
| 2022 | +9.3% |
| 2021 | +46.8% |
| 2020 | +18.9% |
| 2019 | +11.7% |
| 2018 | -18.0% |
| 2017 | -4.8% |
| 2016 | +8.6% |
| 2015 | -23.5% |
| 2014 | +12.5% |
| 2013 | +14.7% |
| 2012 | +29.1% |
| 2011 | -11.4% |
| 2010 | +4.3% |
| 2009 | +25.0% |
| 2008 | -55.1% |
| 2007 | +61.8% |
| 2006 | +29.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 53.7% over that stretch · deepest drop along the way 77.3%, back to its old high 158.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 39.1% over that stretch · deepest drop along the way 44%, back to its old high 6.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 5% over that stretch · deepest drop along the way 34.7%, back to its old high 40 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 2 open-market purchases ($689K) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 31, 2026 | Christopher Mahoney Director | buy | $528K |
| Aug 4, 2026 | Christopher Mahoney Director | buy | $161K |
Who owns it
Large shareholders (13G filings)
| Capital World Investors | 10.7% | Mar 31, 2026 |
| BlackRock, Inc. | 7.1% | Sep 30, 2025 |
| Vanguard Capital Management | 5.47% | Mar 31, 2026 |
| STATE STREET CORPORATION | 3.5% | Sep 30, 2025 |
ETFs with the most weight in BG
| FXG First Trust Consumer Staples AlphaDEX Fund | 4.09% |
| FTXG First Trust Nasdaq Food & Beverage ETF | 3.77% |
| MDPL Monarch Dividend Plus ETF | 3.33% |
| MOO VanEck Agribusiness ETF | 2.85% |
| FTAG First Trust Indxx Global Agriculture ETF | 2.5% |
| FTRI First Trust Indxx Global Natural Resources Income ETF | 2.49% |
| VEGI iShares MSCI Agriculture Producers ETF | 2.33% |
| POWA Invesco Bloomberg Pricing Power ETF | 2.27% |
What could go wrong
- Viterra deal may not pay off as hoped. Bunge has incurred, and expects to keep incurring, significant costs to integrate Viterra. If hoped-for synergies (savings from combining operations) fall short, results and the share price could suffer.
- War in Ukraine threatens plants and terminals. Bunge runs four crushing plants, two export terminals and many grain elevators in Ukraine. These could be damaged, lost or seized, though Ukrainian subsidiaries held under 2% of total assets at December 31, 2025.
- Brazilian farmers might not repay advances. To secure soybeans and other crops, Bunge advances money and other financing to farmers in Brazil. Bad harvests or low prices could leave those farmers unable to repay, hurting Bunge's results.
- Large debt load in a capital-hungry business. Bunge relies on operating cash and outside financing to run and grow. Total debt was about $16.7 billion against $1 billion of cash as of September 30, 2026. Tighter credit could squeeze operations.
- Thin margins exposed to commodity price swings. Crop and energy prices swing with harvests and supply-demand imbalances. With a 1.2% net margin in fiscal 2025, small shifts move profits a lot: net income fell 28.2% while revenue rose 32.4%.
- Bad weather and climate change disrupt supply. Droughts, hurricanes and storms can cut harvests, damage facilities and lower river levels that barges depend on. Climate change could shift where crops grow, leaving some plants and terminals stranded.
Recent events
- Quarterly results released
- Executive or board change
- Other company announcement
- Executive or board change
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Executive or board change
For income and retirement investors
Bunge's dividend per share rose every year from fiscal 2021 to 2025, at least four straight increases, reaching $2.80 for fiscal 2025. That was a 2.94% yield as of October 30, 2026. Dividends took 56.3% of fiscal 2025 net income. Free cash flow (cash left after running and investing in the business) was negative $879 million that year, so it did not cover the payout. Over fiscal 2021–2025, buybacks totaled about $2.55 billion, more than the $1.86 billion paid in dividends. As a Swiss company, Bunge warns that payouts may face Swiss withholding tax.
The shares have fallen hard in downturns. They dropped 77.3% in 2008 and took about 13 years, until January 2022, to regain that peak. In the 2020 COVID crash they fell 44% but recovered in about seven months. In 2022 they fell 34.7% and did not recover until January 2026. A single stock like Bunge carries more risk than a diversified fund.
Questions investors ask
How does Bunge make money?
Mainly by buying crops from farmers, then processing, shipping and selling them. Its largest segment, Soybean Processing and Refining, crushes soybeans into meal for animal feed and oil for food and biofuel. It brought in 51.6% of fiscal 2025 revenue of $70.3 billion. Grain Merchandising and Milling added 25.8%, softseeds such as canola and sunflower 16%, and other oilseeds and specialty oils 6.6%. Margins were thin: fiscal 2025 net income was $816 million, a 1.2% net margin.
Does Bunge raise its dividend every year?
Yes, at least since fiscal 2021. Dividends per share rose in each year through fiscal 2025, reaching $2.80. That is a streak of at least four increases, and it may go back further. The yield was 2.94% as of October 30, 2026. Dividends equaled 56.3% of fiscal 2025 net income, but free cash flow was negative that year, so it did not cover the payout. As a Swiss company, Bunge warns that dividends and buybacks may trigger Swiss withholding tax.
Does Bunge still operate in Ukraine?
Yes. At December 31, 2025, Bunge had four oilseed crushing plants in Ukraine, in Mykolaiv, Dnipropetrovsk, Kharkiv and Vinnytsia. It also had two export terminals at the Mykolaiv seaport and many grain elevators. Through joint ventures it operates a corn mill and a grain export terminal there. The 10-K says no material damage had been noted, though safety concerns sometimes prevent inspections. Ukrainian subsidiaries held under 2% of total assets. Bunge sold its Russian operations on February 3, 2023.
Who are Bunge's main competitors?
Bunge's main rivals are other global crop traders and processors: Archer Daniels Midland (ADM), Cargill, Louis Dreyfus, Wilmar International and COFCO International, plus many regional companies. In specialty oils it also faces AAK and Fuji Oil, and in grain trading it faces CHS and Olam Group. Soybeans, meal and grain are commodities, so competition centers on price, quality, service and location. That tends to keep margins thin. Bunge's gross margin, the share of revenue left after the direct cost of goods sold, was 4.8% in fiscal 2025.
How has Bunge stock performed over the long run?
Modestly, with big swings. As of October 30, 2026, the share price was up 4.2% over one year, about 3.6% a year over five years and about 7.8% a year over 10 years, or 111% in total. From 2021 to 2025, calendar-year results ranged from a 46.8% gain in 2021 to a 20.8% loss in 2024. In the three years to that date, the stock fell as much as 38.8% from a previous high. Its P/E ratio (price divided by earnings per share) was 19.7, based on fiscal 2025 earnings.