BG vs. AGRO

Last updated Apr 1, 2026

Compare and contrast key facts about Bunge Limited (BG) and Adecoagro S.A. (AGRO).

Performance

BG vs. AGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bunge Limited (BG) and Adecoagro S.A. (AGRO). The values are adjusted to include any dividend payments, if applicable.

BG vs. AGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BG Bunge Limited	43.61%	18.56%	-20.74%	3.79%	9.28%	46.77%	18.92%	11.77%	-17.99%	-4.76%
AGRO Adecoagro S.A.	89.41%	-12.37%	-12.39%	38.60%	11.50%	12.94%	-18.76%	20.26%	-32.69%	-0.39%

Fundamentals

Market Cap BG : $24.80B AGRO : $10.70B
EPS BG : $5.24 AGRO : -$0.01
PS Ratio BG : 0.28 AGRO : 6.00
PB Ratio BG : 1.43 AGRO : 6.47
Total Revenue (TTM) BG : $70.33B AGRO : $1.43B
Gross Profit (TTM) BG : $3.41B AGRO : $334.30M
EBITDA (TTM) BG : $2.03B AGRO : $368.40M

Returns By Period

In the year-to-date period, BG achieves a 43.61% return, which is significantly lower than AGRO's 89.41% return. Over the past 10 years, BG has outperformed AGRO with an annualized return of 11.68%, while AGRO has yielded a comparatively lower 4.19% annualized return.

BG

• 1D: 0.73%
• 1M: 5.43%
• YTD: 43.61%
• 6M: 58.61%
• 1Y: 71.59%
• 3Y*: 13.29%
• 5Y*: 12.79%
• 10Y*: 11.68%

AGRO

• 1D: -1.51%
• 1M: 69.14%
• YTD: 89.41%
• 6M: 95.83%
• 1Y: 40.12%
• 3Y*: 27.35%
• 5Y*: 17.06%
• 10Y*: 4.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BG vs. AGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BG

BG Risk / Return Rank: 92
BG Sharpe Ratio Rank: 93
BG Sortino Ratio Rank: 94
BG Omega Ratio Rank: 90
BG Calmar Ratio Rank: 93
BG Martin Ratio Rank: 93

AGRO

AGRO Risk / Return Rank: 66
AGRO Sharpe Ratio Rank: 72
AGRO Sortino Ratio Rank: 67
AGRO Omega Ratio Rank: 67
AGRO Calmar Ratio Rank: 64
AGRO Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BG vs. AGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bunge Limited (BG) and Adecoagro S.A. (AGRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BG	AGRO	Difference
Sharpe ratio Return per unit of total volatility	2.21	0.90	+1.31
Sortino ratio Return per unit of downside risk	3.25	1.46	+1.79
Omega ratio Gain probability vs. loss probability	1.39	1.20	+0.19
Calmar ratio Return relative to maximum drawdown	4.65	1.04	+3.61
Martin ratio Return relative to average drawdown	12.74	1.61	+11.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BG vs. AGRO - Sharpe Ratio Comparison

The current BG Sharpe Ratio is 2.21, which is higher than the AGRO Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of BG and AGRO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BG	AGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	0.90	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.42	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.11	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.07	+0.27

Correlation

The correlation between BG and AGRO is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BG vs. AGRO - Dividend Comparison

BG's dividend yield for the trailing twelve months is around 2.20%, less than AGRO's 2.33% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BG Bunge Limited	2.20%	3.12%	3.48%	2.55%	2.31%	2.76%	3.05%	3.48%	3.59%	2.62%	2.21%	2.11%
AGRO Adecoagro S.A.	2.33%	4.41%	3.63%	2.95%	3.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BG vs. AGRO - Drawdown Comparison

The maximum BG drawdown since its inception was -77.34%, roughly equal to the maximum AGRO drawdown of -73.70%. Use the drawdown chart below to compare losses from any high point for BG and AGRO.

Drawdown Indicators

	BG	AGRO	Difference
Max Drawdown Largest peak-to-trough decline	-77.34%	-73.70%	-3.64%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-36.44%	+21.05%
Max Drawdown (5Y) Largest decline over 5 years	-41.49%	-45.34%	+3.85%
Max Drawdown (10Y) Largest decline over 10 years	-60.49%	-72.07%	+11.58%
Current Drawdown Current decline from peak	-1.18%	-1.51%	+0.33%
Average Drawdown Average peak-to-trough decline	-29.09%	-31.71%	+2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	23.41%	-17.79%

Volatility

BG vs. AGRO - Volatility Comparison

The current volatility for Bunge Limited (BG) is 9.35%, while Adecoagro S.A. (AGRO) has a volatility of 22.76%. This indicates that BG experiences smaller price fluctuations and is considered to be less risky than AGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BG	AGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	22.76%	-13.41%
Volatility (6M) Calculated over the trailing 6-month period	21.25%	34.91%	-13.66%
Volatility (1Y) Calculated over the trailing 1-year period	32.49%	44.68%	-12.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.19%	41.16%	-11.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.86%	39.21%	-8.35%

Financials

BG vs. AGRO - Profitability Comparison

The chart below illustrates the profitability comparison between Bunge Limited and Adecoagro S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bunge Limited reported a gross profit of 1.01B and revenue of 23.76B. Therefore, the gross margin over that period was 4.3%.

AGRO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Adecoagro S.A. reported a gross profit of 78.85M and revenue of 415.94M. Therefore, the gross margin over that period was 19.0%.

BG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bunge Limited reported an operating income of -103.00M and revenue of 23.76B, resulting in an operating margin of -0.4%.

AGRO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Adecoagro S.A. reported an operating income of -3.08M and revenue of 415.94M, resulting in an operating margin of -0.7%.

BG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bunge Limited reported a net income of 95.00M and revenue of 23.76B, resulting in a net margin of 0.4%.

AGRO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Adecoagro S.A. reported a net income of -14.85M and revenue of 415.94M, resulting in a net margin of -3.6%.