Bunge Global SA (BG) Q4 FY2025 earnings: revenue $23.8 billion, up 75.5% on the year

Bunge Global SA (BG) reported revenue of $23.8 billion for Q4 FY2025, the quarter ended 31 December 2025, up 75.5% on the same quarter a year earlier. Net income was $95 million, down 84.2% on the year, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2026.

Revenue

$23.8 billion

+75.5% on the year · +7.3% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

n/a

Q1 FY2024Q4 FY2025

Net income

$95 million

-84.2% on the year · -42.8% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.49

-88.8% on the year · -41.7% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 new.

Full-year adjusted EPS fell: Adjusted diluted EPS for 2025 was $7.57 against $9.19. GAAP diluted EPS was $4.93 against $7.99 in the prior year.
Fourth-quarter adjusted EBIT rose: Adjusted total EBIT was $622 million in the fourth quarter against $445 million. GAAP total EBIT was $264 million against $767 million, with $223 million of certain charges.
Soybean results rose on South America: Soybean Processing and Refining adjusted segment EBIT was $302 million against $298 million. Argentina and Brazil were higher; Europe processing, Americas origination and North America were lower.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	23,762	22,155	13,542	+7.3%	+75.5%
Cost of revenue	22,751	21,092	12,461	+7.9%	+82.6%
Gross profit	1,011	1,063	1,081	-4.9%	-6.5%
Gross margin	4.3%	4.8%	8.0%
Selling, general and administrative	637	678	451	-6.0%	+41.2%
Interest expense	216	202	113	+6.9%	+91.2%
Pre-tax income	86.0	270	730	-68.1%	-88.2%
Income tax	-2.0	86.0	100
Effective tax rate	-2.3%	31.9%	13.7%
Net income	95.0	166	602	-42.8%	-84.2%
Net margin	0.4%	0.7%	4.4%
Diluted EPS	$0.49	$0.84	$4.36	-41.7%	-88.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	1,347	854	1,053	+57.7%	+27.9%
Capital expenditure	538	469	489	+14.7%	+10.0%
Free cash flow	809	385	564	+110.1%	+43.4%
Free cash flow margin	3.4%	1.7%	4.2%
Cash from investing	297	-5,422	-157
Cash from financing	-1,792	-917	-466
Depreciation and amortisation	226	241	123	-6.2%	+83.7%
Share-based compensation	19.0	19.0	16.0	0.0%	+18.8%
Dividends paid	135	139	91.0	-2.9%	+48.4%
Dividend per share	$0.70	$0.70	$0.68	0.0%	+2.9%
Diluted shares, weighted	n/a	198m	n/a
Shares outstanding at period end	194m	193m	134m	+0.1%	+44.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	15,904	15,768	9,913	+0.9%	+60.4%
Non-controlling interest	1,465	1,462	1,032	+0.2%	+42.0%
Redeemable equity	53.0	61.0	4.0	-13.1%	+1,225.0%
Debt	14,051	15,589	6,238	-9.9%	+125.2%
Operating lease liabilities	1,097	1,152	595	-4.8%	+84.4%
Finance lease liabilities	157	n/a	80.0		+96.2%
Other liabilities	11,801	12,266	7,037	-3.8%	+67.7%
Total liabilities and equity	44,528	46,298	24,899	-3.8%	+78.8%
Fixed assets	n/a	11,550	5,254
Goodwill	3,141	2,769	453	+13.4%	+593.4%
Intangible assets	309	328	321	-5.8%	-3.7%
Investments	997	2,029	658	-50.9%	+51.5%
Cash and equivalents	1,135	1,315	3,311	-13.7%	-65.7%
Receivables	3,870	3,494	2,148	+10.8%	+80.2%
Inventory	13,198	13,312	6,491	-0.9%	+103.3%
Other assets	21,878	11,501	6,263	+90.2%	+249.3%
Total assets	44,528	46,298	24,899	-3.8%	+78.8%

Questions

What was Bunge Global SA's revenue in Q4 FY2025?

Bunge Global SA (BG) reported revenue of $23.8 billion for Q4 FY2025, the quarter ended 31 December 2025, up 75.5% on the same quarter a year earlier.

How much did Bunge Global SA earn in Q4 FY2025?

Net income for Q4 FY2025 was $95 million, down 84.2% on the year, and diluted earnings per share $0.49.

When did Bunge Global SA report Q4 FY2025 results?

Bunge Global SA filed its 10-K for the quarter ended 31 December 2025 with the SEC on 19 February 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	16,683	15,880	17,933	16,759	16,660	15,328	15,049	14,227	14,936	13,417	13,241	12,908	13,542	11,643	12,769	22,155	23,762	21,861	24,041	23,804
Cost of revenue	15,994	14,676	17,161	15,871	15,842	14,147	13,684	13,182	13,682	12,541	12,577	12,136	12,461	11,046	12,031	21,092	22,751	21,095	22,360	22,472
Gross profit	689	1,204	772	888	818	1,181	1,365	1,045	1,254	876	664	772	1,081	597	738	1,063	1,011	766	1,681	1,332
Gross margin	4%	8%	4%	5%	5%	8%	9%	7%	8%	7%	5%	6%	8%	5%	6%	5%	4%	4%	7%	6%
SG&A	339	308	334	337	390	353	420	447	495	439	449	437	451	380	418	678	637	531	606	605
Interest expense	59.0	111	92.0	103	97.0	112	129	133	142	108	123	127	113	104	106	202	216	181	197	208
Pre-tax income	296	804	261	496	505	842	827	503	879	369	103	322	730	284	494	270	86.0	61.0	943	515
Tax rate	22%	13%	14%	23%	26%	22%	24%	23%	25%	32%	29%	28%	14%	28%	25%	32%	-2%	-23%	25%	33%
Net income	231	688	206	380	336	632	622	373	616	244	70.0	221	602	201	354	166	95.0	68.0	678	318
Net margin	1%	4%	1%	2%	2%	4%	4%	3%	4%	2%	1%	2%	4%	2%	3%	1%	0%	0%	3%	1%
Diluted EPS	$1.52	$4.48	$1.34	$2.49	$2.21	$4.15	$4.09	$2.47	$4.18	$1.68	$0.48	$1.56	$4.36	$1.48	$2.61	$0.84	$0.49	$0.35	$3.47	$1.64
Operating cash flow	-1,252	-2,656	-1,801	-574	-518	931	-459	1,388	1,448	994	-1,474	1,327	1,053	-285	-1,072	854	1,347	-541	-585	-1,176
Capital expenditure	160	106	106	141	202	173	368	264	317	236	297	354	489	310	406	469	538	336	443	384
Free cash flow	-1,412	-2,762	-1,907	-715	-720	758	-827	1,124	1,131	758	-1,771	973	564	-595	-1,478	385	809	-877	-1,028	-1,560
Dividends paid	n/a	n/a	n/a	n/a	n/a	94.0	94.0	99.0	96.0	95.0	96.0	96.0	91.0	91.0	94.0	139	135	136	139	139
Shares outstanding	141m	152m	152m	150m	150m	151m	151m	146m	143m	142m	142m	140m	134m	134m	200m	193m	194m	194m	192m	192m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 19 February 2026: the filing.