ADM vs BG: Archer-Daniels-Midland and Bunge Limited compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Archer-Daniels-Midland is the larger company, worth $37.3B, about 1.9 times Bunge Limited.
- Bunge Limited grew revenue faster over the last year (+87.8% vs +7.2%).
- On earnings, Bunge Limited is the cheaper stock (23.9x vs 34.6x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ADM | BG |
|---|---|---|
| Market cap | $37.3B | $19.4B |
| Share price | $79.89 | $102.73 |
| Revenue (last fiscal year) | $80.3B | $70.3B |
| Free cash flow (last fiscal year) | $4.2B | -$879M |
| Revenue growth, last year | +7.2% | +87.8% |
| Revenue growth per year, last 5 fiscal years | -1.5% | +4.4% |
| Operating margin | — | — |
| Net margin | 2.2% | 0.85% |
| Return on equity | 7.5% | 4.3% |
| P/E (trailing) | 34.6x | 23.9x |
| Price / free cash flow | 8.89x | — |
| EV / EBITDA | 11.9x | 14.1x |
| FCF growth the price implies | -5.8% | — |
| Dividend yield | 2.6% | 2.8% |
| Debt / equity | 1.27x | 1.88x |
| Fundamental grade | C | D |
| Superinvestors holding it | 7 | 5 |
| Insider purchases, last 12 months | 1 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Archer-Daniels-Midland
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $85.2B | $5.4B | — |
| 2022 | $101.6B | $2.2B | — |
| 2023 | $93.9B | $3.0B | — |
| 2024 | $85.5B | $1.2B | — |
| 2025 | $80.3B | $4.2B | — |
Bunge Limited
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $59.2B | -$3.3B | — |
| 2022 | $67.2B | -$6.1B | — |
| 2023 | $59.5B | $2.2B | — |
| 2024 | $53.1B | $524M | — |
| 2025 | $70.3B | -$879M | — |
Where the revenue comes from
Archer-Daniels-Midland · by segments, 2025
Ag Services and Oilseeds$61.6B77%
Carbohydrate Solutions$10.7B13%
Nutrition$7.5B9%
Bunge Limited · by segments, 2025
Soybean Processing and Refining$6.6B39%
Other Oilseeds Processing and Refining$4.5B26%
Softseed Processing and Refining$3.6B21%
Grain Merchandising and Milling$2.2B13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ADM in InvestinglyQuestions
Which is bigger, Archer-Daniels-Midland or Bunge Limited?
Archer-Daniels-Midland (ADM), at $37.3B against $19.4B.
Is ADM or BG cheaper?
By trailing P/E, Bunge Limited (23.9x) is cheaper than Archer-Daniels-Midland (34.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, ADM or BG?
Bunge Limited: revenue grew +87.8% over the last year, against +7.2%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.