BG // Bunge Limited

DES <GO> NYSE CIK 0001996862 ↗

Consumer Staples • Packaged Foods

$96.02 ▼ -4.78 (-4.74%)

MKT CAP: $18.45B • VOL: 2.12M

52W L $88 52W H $135

ALTMAN Z

1.64 RISK

PIOTROSKI

6 / 9

BG // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

▼ DOWNGRADE // D+ (RQD 52) -> D (RQD 51) AS OF 2026-11-01

ROARABLE D

RQD CONFIDENCE

51 / 100 -1D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Sell — Underperform / Distribution Warning

01 MASSIVE / SEC XBRL

Forensic Fundamentals

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

02 OPRA GEX + SEC 13F

Whale & Options Flow

9 / 20

WARNING

NET GEX +0% • CALL SWEEP 52% • P/C 1.11

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did BG's Forensic Fundamentals & Insider Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever BG is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON BG)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 83/100 Z-SCORE: +2.40σ

BG Accounting Gap: Net Income (-28.2%) Outpaced OCF (-55.6%) With +74.9% Working-Capital Build

CASH CONVERSION GAP

+27.3% (NI vs OCF)

RECEIVABLES / WC BLOAT

+74.9% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Bunge Limited (BG) exposes a +27.3% Cash Conversion Gap as YoY Net Income growth (-28.2%) diverged from Operating Cash Flow growth (-55.6%). Non-cash current assets and receivables expanded +74.9% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

BG // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -23.95%▼ DESCENDING CHANNEL

2026-10-30O $96.31H $97.33L $95.07C $96.64VOL 1.95M

RES: $123.6SUP: $79.94SMA50: $110.6SMA200: $117.2

BG // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 45/100

BEAR 0

100 BULL

Bunge Limited (BG) exhibits 20.1% gross margins and 3.3% return on invested capital within Consumer Staples (Packaged Foods), balanced against a 10.6x enterprise multiple and 6.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 20.1% gross profitability converts into 5.9% operating margin and 3.3% ROIC, outpacing sector cost of capital.

ROIC: 3.3% // GM: 20.1%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +9.0% paired with -4.76% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +9.0% // FCF YLD: -4.76%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 1.64 and Piotroski F-Score of 6/9 indicate low near-term refinancing stress.

ALTMAN Z: 1.64 // F-SCORE: 6/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 22.6x trailing P/E (21.0x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 22.6x // EV/EBITDA: 10.6x

02. Options Skew & Event Volatility Risk

Options market prices a ±6.8% implied move with a 1.11 put/call ratio around $94.00 max pain.

IMPL MOVE: ±6.8% // P/C: 1.11

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Packaged Foods require continuous execution to defend 4.8% net margins.

NET MARGIN: 4.8% // D/E: 0.56x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 21.0x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.97).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 22.6x

FORWARD P/E 21.0x

EV / EBITDA 10.6x

FCF YIELD -4.76%

GROSS MARGIN 20.1%

OPERATING MARGIN 5.9%

NET MARGIN 4.8%

ROIC % 3.3%

REV GROWTH YOY +9.0%

DILUTED EPS TTM $4.25

DEBT / EQUITY 0.56x

DIVIDEND YIELD 2.49%

RSI-14 MOMENTUM 29.2

5Y EQUITY BETA 0.97

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // BGPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $87.86

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for BG & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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