Bunge vs Microsoft: Revenue, Profit and Business Model
Bunge reported $70.3B of revenue in FY2025 and $816M of net income. Microsoft reported $331.8B of revenue in FY2026 and $133.7B of net income.
Latest financial snapshot
Financial summary
Bunge
Bunge reports enormous sales and thin profits. Net sales rose 32 percent to $70.3 billion in 2025 as Viterra was consolidated from July, but net income attributable to Bunge fell 28 percent to $816 million, or $4.93 per diluted share, after acquisition charges and mark-to-market timing effects. On the adjusted basis management uses, EPS was $7.57 against $9.19 in 2024, and adjusted total EBIT was flat at $2.03 billion. The year 2026 started weak and then improved: first-quarter net income was $68 million on $21.9 billion of sales, and the second quarter delivered $678 million, or $3.47 per share, on $24.0 billion. Bunge completed the $2 billion buyback tied to the Viterra deal in the second quarter, authorized a further $3 billion programme at its March 2026 Investor Day, and shareholders approved an annual dividend of $2.88 per share in May 2026. Guidance for 2026 adjusted EPS rose from $7.50 to $8.00 in February to $9.25 to $9.75 in July.
Microsoft
Microsoft's FY2026 revenue rose 17.8% to $331.8 billion, operating income rose 21% to $155.2 billion, and GAAP net income rose 31% to $133.7 billion. Fourth-quarter revenue was $90.0 billion (up 18%) with net income of $35.8 billion, helped by a $3.2 billion gain on its Anthropic investment. Microsoft Cloud revenue reached $59.3 billion in Q4, up 27%. The main pressure point is capital intensity: AI data center spending has pushed free cash flow growth well below earnings growth.
Revenue and profit by year
Bunge
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $70.3B | $816M | 1.2% | +32.4% | Source |
| FY2024 | $53.1B | $1.1B | 2.1% | -10.8% | Source |
| FY2023 | $59.5B | $2.2B | 3.8% | -11.4% | Source |
| FY2022 | $67.2B | $1.6B | 2.4% | +13.7% | Source |
| FY2021 | $59.2B | $2.1B | 3.5% | — | Source |
Microsoft
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $331.8B | $133.7B | 40.3% | +17.8% | Source |
| FY2025 | $281.7B | $101.8B | 36.1% | +14.9% | Source |
| FY2024 | $245.1B | $88.1B | 36.0% | +15.7% | Source |
| FY2023 | $211.9B | $72.4B | 34.1% | +6.9% | Source |
| FY2022 | $198.3B | $72.7B | 36.7% | +18.0% | Source |
| FY2021 | $168.1B | $61.3B | 36.5% | +17.5% | Source |
| FY2020 | $143B | $44.3B | 31.0% | +13.6% | Source |
| FY2019 | $125.8B | $39.2B | 31.2% | +14.0% | Source |
| FY2018 | $110.4B | $16.6B | 15.0% | +14.3% | Source |
| FY2017 | $96.6B | $25.5B | 26.4% | — | Source |
Where the revenue comes from
Bunge
- Soybean Processing and Refining51.6%
$36.3 billion of 2025 net sales from crushing soybeans into meal and oil, merchandising soybeans and refining soy oil. Bunge processed 41.0 million metric tons and merchandised 20.5 million tons, and adjusted segment EBIT rose 8 percent to $1.33 billion.
- Grain Merchandising and Milling25.8%
$18.1 billion of 2025 net sales from originating, storing and trading wheat, corn, barley and other grains, plus wheat milling. Volumes rose to 67.2 million metric tons from 36.7 million as Viterra joined, and adjusted segment EBIT was $386 million.
- Softseed Processing and Refining16.0%
$11.3 billion of 2025 net sales from crushing canola, rapeseed and sunflower seed. Processed volumes rose to 10.8 million metric tons, helped by Viterra plants in Argentina, Canada and Europe, and adjusted segment EBIT was $580 million.
- Other Oilseeds (Tropical Oils and Specialty Ingredients)6.6%
$4.6 billion of 2025 net sales from palm and other tropical oils and specialty fats, with adjusted segment EBIT of $168 million. Bunge renamed the segment Tropical Oils and Specialty Ingredients in 2026.
Microsoft
- Productivity And Business ProcessesMajor
Office, Microsoft 365, LinkedIn, Dynamics, and related cloud services.
- Intelligent CloudMajor
Azure, server products, enterprise services, and cloud infrastructure.
- More Personal ComputingMajor
Windows, devices, gaming, search, and advertising.
- AI Services And CopilotsGrowth
AI features and model-powered services embedded across Azure, Microsoft 365, GitHub, security, and developer tools.
Business model and strategy
Bunge
How it makes money
Bunge earns a spread, not a price. It buys oilseeds and grain from farmers and country elevators, moves them by truck, barge, rail and ship, and either sells them on to customers in other regions or crushes them.
Growth strategy
Bunge's growth plan has three parts. First, extract value from Viterra by connecting its grain handling in Canada, Australia, Argentina and Europe to Bunge's crushing, refining and destination sales; cost synergies passed $70 million by the end of 2025.
Competitive advantage
Bunge's edge is physical reach at both ends of the chain. It owns origination, storage and export capacity in the largest surplus regions, including Brazil, Argentina, the US, Canada and Australia, and crushing and refining plants close to demand in Europe, Asia and North America.
Microsoft
How it makes money
Microsoft reports three segments. Intelligent Cloud covers Azure, SQL Server, Windows Server, GitHub, Nuance, and enterprise services; server products and cloud services alone brought in $129.4 billion in FY2026, and Azure passed $100 billion in annual revenue for the first time.
Growth strategy
Microsoft's growth plan centers on AI capacity and AI subscriptions. It is spending heavily on data centers and chips to meet Azure demand that management says remains capacity constrained, and it is selling Microsoft 365 Copilot as a paid add-on, which passed 30 million paid seats by the end of FY2026.
Competitive advantage
Microsoft's main advantage is distribution inside enterprises. Identity (Entra), email and documents (Microsoft 365), collaboration (Teams), developer tools (GitHub, Visual Studio), and cloud infrastructure (Azure) are often bought together, which raises switching costs and lets Microsoft attach new products such as Copilot to existing contracts.
Questions about Bunge vs Microsoft
Which company has higher revenue — Bunge Global SA or Microsoft Corporation?
Bunge Global SA reported $70.3B (FY2025), while Microsoft Corporation reported $331.8B (FY2026). By last reported revenue, Microsoft Corporation is the larger business, with Bunge Global SA reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Bunge Global SA vs Microsoft Corporation?
Bunge Global SA's market capitalisation stands at $21.2B, while Microsoft Corporation's is $3.83T. Microsoft Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Bunge Global SA.
Which is more financially efficient — Bunge Global SA or Microsoft Corporation?
Bunge Global SA generates $2.07M / employee in revenue per employee, while Microsoft Corporation generates $1.49M / employee. Bunge Global SA shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Bunge Global SA and Microsoft Corporation make money?
Bunge Global SA and Microsoft Corporation generate revenue in fundamentally different ways. Bunge Global SA: Bunge earns a spread, not a price. Microsoft Corporation: Microsoft reports three segments.
Which company is valued higher relative to revenue — Bunge Global SA or Microsoft Corporation?
On a price-to-sales (P/S) basis, Bunge Global SA trades at 0.3x P/S and Microsoft Corporation at 11.5x P/S. Microsoft Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Bunge Global SA. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Bunge Global SA bigger than Microsoft Corporation?
By last reported revenue, Microsoft Corporation ($331.8B (FY2026)) is the larger company compared to Bunge Global SA ($70.3B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bunge vs Microsoft overview