Bunge vs Toyota: Revenue, Profit and Business Model
Bunge reported $70.3B of revenue in FY2025 and $816M of net income. Toyota reported ~$339.6B of revenue in FY2026 and ~$25.8B 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.
Toyota
Toyota's fiscal 2026 showed record revenue alongside sharply lower profit. Sales revenues reached ~$340 billion (¥50.68 trillion) while operating margin narrowed to about 7.4% from 10.0% a year earlier, mostly because of roughly $9.25 billion (¥1.38 trillion) in U.S. tariff costs. North America swung to a much weaker profit, Japan remained the largest profit contributor, and financial services kept growing. For fiscal 2027, Toyota's August 2026 forecast calls for ~$362 billion (¥54.0 trillion) in revenue, ~$22.8 billion (¥3.4 trillion) in operating income and ~$21.8 billion (¥3.25 trillion) in net income, assuming 160 yen per dollar.
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 |
Toyota
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$339.6B | ~$25.8B | 7.6% | +5.5% | Source |
| FY2025 | ~$321.8B | ~$31.9B | 9.9% | +6.5% | Source |
| FY2024 | ~$302.1B | ~$33.1B | 11.0% | +21.4% | Source |
| FY2023 | ~$248.9B | ~$16.4B | 6.6% | +18.4% | Source |
| FY2022 | ~$210.2B | ~$19.1B | 9.1% | +15.3% | Source |
| FY2021 | ~$182.3B | ~$15B | 8.3% | -9.1% | Source |
| FY2020 | ~$200.5B | ~$13.9B | 6.9% | -1.0% | Source |
| FY2019 | ~$202.5B | ~$12.6B | 6.2% | +2.9% | Source |
| FY2018 | ~$196.8B | ~$16.7B | 8.5% | +6.5% | Source |
| FY2017 | ~$184.9B | ~$12.3B | 6.6% | -2.8% | Source |
| FY2016 | ~$190.3B | ~$15.5B | 8.1% | — | 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.
Toyota
- Automotive~89%
Toyota, Lexus, Daihatsu and Hino vehicles, plus parts and service
- Financial services~9%
Retail loans, leases and dealer financing
- All other~2%
Housing-related, telecommunications and other businesses
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.
Toyota
How it makes money
Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux. A large financial services arm earns interest and lease income on loans and leases to Toyota buyers and dealers, and parts, service and other value-chain businesses add recurring revenue from the installed base of vehicles.
Growth strategy
Toyota's strategy centers on hybrid leadership, battery EV scaling, software improvement, localized manufacturing, Lexus and truck/SUV profitability, financial services, and disciplined capital allocation.
Competitive advantage
Toyota's advantage is manufacturing discipline, hybrid technology, global supplier relationships, brand trust, reliability, and scale. Those strengths are durable, but they must be paired with faster software and EV execution.
Questions about Bunge vs Toyota
Which company has higher revenue — Bunge Global SA or Toyota Motor Corporation?
Bunge Global SA reported $70.3B (FY2025), while Toyota Motor Corporation reported ~$339.6B (FY2026). By last reported revenue, Toyota Motor 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 Toyota Motor Corporation?
Bunge Global SA's market capitalisation stands at $21.2B, while Toyota Motor Corporation's is $258.0B. Toyota Motor 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 Toyota Motor Corporation?
Bunge Global SA generates $2.07M / employee in revenue per employee, while Toyota Motor Corporation generates $905k / 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 Toyota Motor Corporation make money?
Bunge Global SA and Toyota Motor Corporation generate revenue in fundamentally different ways. Bunge Global SA: Bunge earns a spread, not a price. Toyota Motor Corporation: Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux.
Which company is valued higher relative to revenue — Bunge Global SA or Toyota Motor Corporation?
On a price-to-sales (P/S) basis, Bunge Global SA trades at 0.3x P/S and Toyota Motor Corporation at 0.8x P/S. Toyota Motor 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 Toyota Motor Corporation?
By last reported revenue, Toyota Motor Corporation (~$339.6B (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 Toyota overview