BG
Bunge Global S.A.
$121.53
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Fair Value
Trading 3.2% below fair value
You pay
$121.53
Bear
$100.48
Fair
$125.60
Bull
$150.72
Bear
$100.48
-17.3%
$10.51 × 9x P/E
Fair
$125.60
+3.3%
$10.51 × 12x P/E
Bull
$150.72
+24.0%
$10.51 × 14x P/E
Key Value Driver
Normalized P/E multiple (12x base case)
Implied Market Multiple
11.6x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $137.00 from 25 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $125.60 per share.
Warnings
The company's reported profits differ from official accounting profits by 114%. Check what costs are being left out of the adjusted number.
Dividend-based valuation: $69.69 (below our primary estimate by 43%). Large gaps may signal the dividend doesn't reflect full earning power.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples