Bunge Global vs Ingredion
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KIRA’s take AI analyst
I put Bunge Global and Ingredion side by side, using each one’s latest annual report. Here is what stands out:
- Bunge Global is the larger business, with $70.3B of revenue in fiscal 2025 against $7.2B for Ingredion, about 9.7 times as much.
- Bunge Global grew revenue faster (32.4%, against −2.8%).
- Ingredion turned more of its sales into free cash flow (7.1% FCF margin, against −1.3%).
- Ingredion earned a higher return on the capital invested in it (16.0%, against 6.1%).
- Investors pay more for each dollar of Bunge Global’s earnings: a P/E of 23.8x against 10.4x for Ingredion.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Bunge Global
BG
2/10
Revenue growth5-year growth
Ingredion
INGR
8/10
Gross marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | BG FY25 | INGR FY25 |
|---|---|---|
| Size | ||
| Market cap | $20.0B | $6.1B |
| Revenue | $70.3B | $7.2B |
| Free cash flow | −$879M | $511M |
| Net income | $816M | $729M |
| Growth | ||
| Revenue growth | 32.4% | −2.8% |
| 5-year growth | 11.2% | 3.8% |
| Share count change | 17.1% | −2.1% |
| Profitability | ||
| Gross margin | 4.9% | 25.3% |
| Operating margin | — | 14.1% |
| Net margin | 1.2% | 10.1% |
| FCF margin | −1.3% | 7.1% |
| Return on capital | 6.1% | 16.0% |
| Return on equity | 6.3% | 18.1% |
| Balance sheet | ||
| Net debt | $12.2B | $709M |
| Net debt / EBITDA | 5.0x | 0.6x |
| Dividends and buybacks | $1.0B | $211M |
| Valuation & quality | ||
| P/E | 23.8x | 10.4x |
| Piotroski F-score | 4 | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.