Bunge Global vs Darling Ingredients
Add, change or remove companies; up to four.
The short version
- Bunge Global is the larger business, with $70.3B of revenue in fiscal 2025 against $6.1B for Darling Ingredients, about 11 times as much.
- Bunge Global grew revenue faster (32.4%, against 7.4%).
- Darling Ingredients turned more of its sales into free cash flow (11.1% FCF margin, against −1.3%).
- Bunge Global earned a higher return on the capital invested in it (6.1%, against 3.2%).
- Investors pay more for each dollar of Bunge Global’s earnings: a P/E of 24.1x against 15.2x for Darling Ingredients.
| Latest fiscal year | BG · FY25 | DAR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $20.2B | $9.0B |
| Revenue | $70.3B | $6.1B |
| Free cash flow | −$879M | $679M |
| Net income | $816M | $62.8M |
| Growth | ||
| Revenue growth | 32.4% | 7.4% |
| 5-year growth | 11.2% | 11.4% |
| Share count change | 17.1% | −0.8% |
| Profitability | ||
| Gross margin | 4.9% | 24.0% |
| Operating margin | — | 4.5% |
| Net margin | 1.2% | 1.0% |
| FCF margin | −1.3% | 11.1% |
| Return on capital | 6.1% | 3.2% |
| Return on equity | 6.3% | 1.4% |
| Balance sheet | ||
| Net debt | $12.2B | $3.9B |
| Net debt / EBITDA | 5.0x | 5.0x |
| Dividends and buybacks | $1.0B | $34.7M |
| Valuation & quality | ||
| P/E | 24.1x | 15.2x |
| Piotroski F-score | 4 | 7 |
Revenue
FY16
BG $42.7B
DAR $3.4B
FY17
BG $45.8B
DAR $3.7B
FY18
BG $45.7B
DAR $3.4B
FY19
BG $41.1B
DAR $3.4B
FY20
BG $41.4B
DAR $3.6B
FY21
BG $59.2B
DAR $4.7B
FY22
BG $67.2B
DAR $6.5B
FY23
BG $59.5B
DAR $6.8B
FY24
BG $53.1B
DAR $5.7B
FY25
BG $70.3B
DAR $6.1B
BG
DAR
Operating margin
FY16
BG —
DAR 4.6%
FY17
BG —
DAR 4.6%
FY18
BG —
DAR 7.5%
FY19
BG —
DAR 14.1%
FY20
BG —
DAR 12.1%
FY21
BG —
DAR 18.7%
FY22
BG —
DAR 15.8%
FY23
BG —
DAR 14.0%
FY24
BG —
DAR 8.2%
FY25
BG —
DAR 4.5%
BG
DAR
Free cash flow
FY16
BG −$338M
DAR $147M
FY17
BG −$2.6B
DAR $136M
FY18
BG −$1.8B
DAR $76.7M
FY19
BG −$1.3B
DAR $3.1M
FY20
BG −$3.9B
DAR $345M
FY21
BG −$3.3B
DAR $430M
FY22
BG −$6.1B
DAR $422M
FY23
BG $2.2B
DAR $344M
FY24
BG $524M
DAR $507M
FY25
BG −$879M
DAR $679M
BG
DAR
Return on capital
FY16
BG 9.0%
DAR 3.6%
FY17
BG 3.4%
DAR 4.4%
FY18
BG 4.4%
DAR 5.8%
FY19
BG −6.4%
DAR 9.8%
FY20
BG 12.0%
DAR 8.5%
FY21
BG 18.9%
DAR 15.5%
FY22
BG 15.6%
DAR 14.4%
FY23
BG 19.9%
DAR 10.8%
FY24
BG 11.3%
DAR 5.4%
FY25
BG 6.1%
DAR 3.2%
BG
DAR
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.