MeritValue

Bunge Global SA

BGdata completeness 100%5 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$16.8B1$21.1B2$17.8B3$15.6B3$16.9B3
Net income$2.08B4$1.61B5$2.24B6$1.14B6$816M6
Operating cash flow−$2.89B7−$5.55B8$3.31B9$1.9B9$844M9
Capital expenditure$399M10$555M11$1.12B12$1.38B12$1.72B12
Free cash flow (derived)−$3.29B7−$6.1B8$2.19B9$524M9−$879M9
Total debt—$8.76B13$9.77B14$13.1B15$29.4B15
Cash & equivalents$902M16$1.1B17$2.6B18$3.31B18$1.14B18
Diluted shares152.4M153.1M150.8M142.2M166.5M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.0000060%
of the whole company
Your share of last year’s profit
$49.02
Your share of its debt
$1,768.46
Your share of free cash flow
−$52.8
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
negative equity value — refusing to publish per-share figure
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$524M
DCF · Growth Exit 5Y
not applicable
negative equity value — refusing to publish per-share figure
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$524M
Earnings Power Value
$101.91
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$1.61B
  • growthAssumed0.0%
Graham Number
$102.74
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001996862-24-000007 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001996862-25-000008 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001628280-26-009842 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001996862-24-000007 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001996862-25-000008 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001628280-26-009842 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001996862-24-000007 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001996862-25-000008 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001628280-26-009842 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001996862-24-000007 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001996862-25-000008 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001628280-26-009842 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-12-31 · accession 0001996862-24-000007 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2023-12-31 · accession 0001996862-25-000008 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-12-31 · accession 0001628280-26-009842 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2021-12-31 · accession 0001996862-24-000007 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2022-12-31 · accession 0001996862-25-000008 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0001628280-26-009842 (CashAndCashEquivalentsAtCarryingValue)