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Bunge Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bunge has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Bunge's Piotroski F-Score or its related term are showing as below:

NYSE:BG' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 5

2
7

During the past 13 years, the highest Piotroski F-Score of Bunge was 7. The lowest was 2. And the median was 5.


Bunge Piotroski F-Score Historical Data

The historical data trend for Bunge's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Bunge Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 4.00 5.00 2.00 4.00

Bunge Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 5.00 4.00 5.00 5.00

Competitive Comparison

For the Farm Products subindustry, Bunge's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Bunge Piotroski F-Score Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Bunge's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bunge's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun21) TTM:Last Year (Jun20) TTM:
Net Income was 262 + 551 + 831 + 362 = $2,006 Mil.
Cash Flow from Operations was -626 + -1408 + -987 + -449 = $-3,470 Mil.
Revenue was 10159 + 12610 + 12961 + 15391 = $51,121 Mil.
Gross Profit was 602 + 904 + 1147 + 665 = $3,318 Mil.
Average Total Assets from the begining of this year (Jun20)
to the end of this year (Jun21) was
(18559 + 20761 + 23655 + 24533 + 25085) / 5 = $22518.6 Mil.
Total Assets at the begining of this year (Jun20) was $18,559 Mil.
Long-Term Debt & Capital Lease Obligation was $5,873 Mil.
Total Current Assets was $17,555 Mil.
Total Current Liabilities was $10,321 Mil.
Net Income was -1488 + -51 + -184 + 516 = $-1,207 Mil.

Revenue was 10323 + 10783 + 9173 + 9462 = $39,741 Mil.
Gross Profit was -978 + 571 + 174 + 1105 = $872 Mil.
Average Total Assets from the begining of last year (Jun19)
to the end of last year (Jun20) was
(20424 + 18634 + 18317 + 18596 + 18559) / 5 = $18906 Mil.
Total Assets at the begining of last year (Jun19) was $20,424 Mil.
Long-Term Debt & Capital Lease Obligation was $4,483 Mil.
Total Current Assets was $11,468 Mil.
Total Current Liabilities was $7,496 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bunge's current Net Income (TTM) was 2,006. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bunge's current Cash Flow from Operations (TTM) was -3,470. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun20)
=2006/18559
=0.10808772

ROA (Last Year)=Net Income/Total Assets (Jun19)
=-1207/20424
=-0.05909714

Bunge's return on assets of this year was 0.10808772. Bunge's return on assets of last year was -0.05909714. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Bunge's current Net Income (TTM) was 2,006. Bunge's current Cash Flow from Operations (TTM) was -3,470. ==> -3,470 <= 2,006 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=5873/22518.6
=0.26080662

Gearing (Last Year: Jun20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun19 to Jun20
=4483/18906
=0.23712049

Bunge's gearing of this year was 0.26080662. Bunge's gearing of last year was 0.23712049. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun21)=Total Current Assets/Total Current Liabilities
=17555/10321
=1.70090108

Current Ratio (Last Year: Jun20)=Total Current Assets/Total Current Liabilities
=11468/7496
=1.5298826

Bunge's current ratio of this year was 1.70090108. Bunge's current ratio of last year was 1.5298826. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Bunge's number of shares in issue this year was 152.68. Bunge's number of shares in issue last year was 150.203. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3318/51121
=0.06490483

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=872/39741
=0.02194207

Bunge's gross margin of this year was 0.06490483. Bunge's gross margin of last year was 0.02194207. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun20)
=51121/18559
=2.75451264

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun19)
=39741/20424
=1.94579906

Bunge's asset turnover of this year was 2.75451264. Bunge's asset turnover of last year was 1.94579906. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+0+1+0+0+1+0+1+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bunge has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Bunge  (NYSE:BG) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Bunge Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Bunge's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Bunge Business Description

Bunge logo
Industry
Address
1391 Timberlake Manor Parkway, St. Louis, MO, USA, 63017
Founded in 1818, Bunge is a global agribusiness and food company with operations along the farm-to-consumer food chain. The agribusiness segment generates roughly two thirds of profits and includes the largest oilseed processing capacity globally. The company is a leading oilseed processor and seller of packaged vegetable oils and other food and ingredients products.
Executives
Wagner Robert officer: Chief Risk Officer 1391 TIMBERLAKE MANOR PARKWAY CHESTERFIELD MT 63017
Browner Carol M. director C/O BUNGE LIMITED 50 MAIN STREET, 6TH FLOOR WHITE PLAINS NY 10606
Mauger Pierre officer: Chief Transformation Officer C/O BUNGE LIMITED, 50 MAIN STREET 6TH FLOOR WHITE PLAINS NY 10606
Winship Henry Ward Iv director PO BOX 8614 RANCHO SANTA FE CA 92067
Padilla Raul officer: President, Global Operations C/O BUNGE LTD 50 MAIN STREET WHITE PLAINS NY 10606
Borg Deborah officer: EVP & Chief HR, Comms Officer C/O BUNGE LIMITED, 50 MAIN STREET 8TH FLOOR WHITE PLAINS NY 10606
Dimopoulos Christos officer: Pres., Global Supply Chains C/O BUNGE LIMITED 50 MAIN STREET, 6TH FLOOR WHITE PLAINS NY 10606
Neppl John W officer: EVP, Chief Financial Officer 1811 AKSARBEN DRIVE OMAHA NE 68106
Zachman Brian officer: President Global Risk Mgmnt C/O BUNGE LIMITED 50 MAIN STREET, 6TH FLOOR WHITE PLAINS NY 10606
Buettner Aaron officer: SVP, Bunge Loders Croklaan C/O BUNGE LIMITED 50 MAIN STREET, 6TH FLOOR WHITE PLAINS NY 10606
Podwika Joseph officer: EVP and Chief Legal Officer C/O BUNGE LIMITED 50 MAIN STREET, 6TH FLOOR WHITE PLAINS NY 10606
Simmons Jerry Matthews Jr officer: Controller, Principal Actg Off TWO N. NINTH STREET ALLENTOWN PA 18101
Bair Sheila Colleen director 6903 ROCKLEDGE DRIVE, SUITE 1500 BETHESDA MD 20817
Fribourg Paul J director 667 MADISON AVE NEW YORK NY 10021
Fyrwald J Erik director LILLY CORPORATE CENTER INDIANAPOLIS IN 46285

Bunge Headlines

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