Can Bunge Global Stock Hit $130

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Bunge Global (BG) trades at 16.5 times earnings, against 21.8 for the median S&P 500 company. Turning a much bigger business into more profit and cash could help Bunge's stock get back to $130. The shares closed at $130.59 on June 3, 2026, their highest close in three years. Bunge could be a sound business on sale, or one fairly priced for what it now earns. What would closing that discount be worth?

Where Bunge Stock Would Trade At A Market Multiple

At the median company's multiple of earnings, Bunge's shares would be worth about $131, against $99.42 at the November 10 close. The business behind those earnings has grown fast. Bunge combined with Viterra, and management says that put its softseeds business on par with its soy crushing business globally. Bunge crushes and refines oilseeds and trades grain, selling to industrial customers and, through brands such as Rosa Branca, to retail buyers.

Over the four quarters ended September 30, 2026, revenue reached $93.5 billion, climbing 55.5% from the preceding twelve months. Growth slowed in fiscal Q3 2026 alone, with revenue rising 7.4% from a year earlier. Management says adjusted return on invested capital hit 8.8% over the trailing 12 months, tracking above Bunge's cost of capital.

Bunge's Twelve-Month Net Profit Fell As Sales Jumped

The market may have its reasons for the discount. Over the four quarters ended September 30, 2026, Bunge recorded net income of $1.16 billion, down from $1.32 billion a year earlier. The net margin for that period narrowed to 1.2%, compared with an average of 1.9% across the latest three twelve-month periods, this one included. Because operating margin held at 2.6% in both years, the profit was lost further down the income statement.

The earnings-multiple discount applies to the broader market, rather than to Bunge's own past. Based on prices at the end of September 2026, the stock traded at 17.7 times earnings, up from 12.1 a year earlier.

Debt has also climbed while profit has not. Bunge's total debt was $18.3 billion at September 30, 2026, against $7.08 billion two years earlier. That debt equals 95.6% of the company's market value, against 19.0% for the S&P 500. In fiscal Q3 2026, management said net interest expense rose from a year earlier, primarily due to higher net debt and lower interest income.

Cash is also leaving the business. Free cash flow was a negative $2.66 billion over the last four quarters, and management said working capital had risen, driven mostly by price.

What Bunge Needs To Deliver In 2027

Bunge is counting on new plants and savings from its Viterra combination. Three of its four major projects are running, including the Morristown, Indiana, soy protein plant. The remaining project, a multi-oil refinery in Westzaan, Netherlands, is expected to start up in the first quarter of 2027. For 2027, management expects about $0.50 a share each from three sources: those projects, further cost savings and commercial gains.

The latest quarter showed some progress. Bunge's operating margin was 3.1% in fiscal Q3 2026, against 1.7% a year earlier, while management credited the better trend in its adjusted earnings to improved conditions in soy and softseed processing and savings from the Viterra combination. Management kept its full-year 2026 guide for adjusted earnings per share at $9.25 to $9.75. That adjusted measure runs well above reported earnings: in fiscal Q3 2026, reported earnings per share was $1.64, against $2.56 adjusted. Cash has not followed: cash from operations was negative in each of the first three quarters of 2026.

So a buyer at today's price is not betting that the market has mispriced a sound business. The bet is that Bunge fixes a real problem, thin net profit and cash flowing out, as the new plants and savings arrive. Bunge's full-year 2026 adjusted earnings per share and its cash from operations are the numbers to watch in its next report, expected in February 2027.

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