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邦吉（BG）与DARLING INGREDIENTS INC.（DAR）财务数据对比。点击上方公司名可切换其他公司
邦吉的季度营收约是DARLING INGREDIENTS INC.的3.1倍（$4.9B vs $1.6B）。邦吉净利率更高（1.9% vs 1.2%，领先0.7%）。邦吉同比增速更快（22.2% vs 10.0%）。过去两年邦吉的营收复合增速更高（11.3% vs -1.6%）
邦吉（Bunge Global）是全球知名的农业与食品企业，注册地位于瑞士日内瓦，总部设在美国密苏里州圣路易斯市，业务覆盖农产品生产、加工、贸易及食品供应链服务等多个领域，在全球农业产业中拥有较高的市场地位。
Darling Ingredients Inc.是全球领先的可持续天然原料生产商，将可食用及不可食用有机副产品加工为食品级营养成分、动物饲料添加剂、制药原料、生物燃料组分等高价值产品，服务全球食品、农业、制药、可再生能源领域客户。
BG vs DAR — 直观对比
营收规模更大
BG
是对方的3.1倍
$1.6B
营收增速更快
BG
高出12.2%
10.0%
净利率更高
BG
高出0.7%
1.2%
两年增速更快
BG
近两年复合增速
-1.6%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $1.6B |
| 净利润 | $95.0M | $19.4M |
| 毛利率 | 20.7% | 24.7% |
| 营业利润率 | 1.8% | 4.6% |
| 净利率 | 1.9% | 1.2% |
| 营收同比 | 22.2% | 10.0% |
| 净利润同比 | -84.2% | 14.2% |
| 每股收益（稀释后） | $-0.02 | $0.12 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BGDAR
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.4B | $1.6B | ||
| Q2 25 | $4.0B | $1.5B | ||
| Q1 25 | $3.7B | $1.4B | ||
| Q4 24 | $4.0B | $1.4B | ||
| Q3 24 | $3.9B | $1.4B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.9B | $1.4B |
净利润BGDAR
| Q4 25 | $95.0M | — | ||
| Q3 25 | $166.0M | $19.4M | ||
| Q2 25 | $354.0M | $12.7M | ||
| Q1 25 | $201.0M | $-26.2M | ||
| Q4 24 | $602.0M | $101.9M | ||
| Q3 24 | $221.0M | $16.9M | ||
| Q2 24 | $70.0M | $78.9M | ||
| Q1 24 | $244.0M | $81.2M |
毛利率BGDAR
| Q4 25 | 20.7% | — | ||
| Q3 25 | 24.3% | 24.7% | ||
| Q2 25 | 18.4% | 23.3% | ||
| Q1 25 | 16.3% | 22.6% | ||
| Q4 24 | 27.0% | 23.5% | ||
| Q3 24 | 19.9% | 22.1% | ||
| Q2 24 | 17.8% | 22.5% | ||
| Q1 24 | 22.2% | 21.4% |
营业利润率BGDAR
| Q4 25 | 1.8% | — | ||
| Q3 25 | 6.2% | 4.6% | ||
| Q2 25 | 12.3% | 5.1% | ||
| Q1 25 | 7.8% | 2.1% | ||
| Q4 24 | 18.3% | 8.6% | ||
| Q3 24 | 8.3% | 4.2% | ||
| Q2 24 | 2.8% | 10.2% | ||
| Q1 24 | 9.4% | 9.7% |
净利率BGDAR
| Q4 25 | 1.9% | — | ||
| Q3 25 | 3.8% | 1.2% | ||
| Q2 25 | 8.8% | 0.9% | ||
| Q1 25 | 5.5% | -1.9% | ||
| Q4 24 | 15.0% | 7.2% | ||
| Q3 24 | 5.7% | 1.2% | ||
| Q2 24 | 1.9% | 5.4% | ||
| Q1 24 | 6.2% | 5.7% |
每股收益（稀释后）BGDAR
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.84 | $0.12 | ||
| Q2 25 | $2.61 | $0.08 | ||
| Q1 25 | $1.48 | $-0.16 | ||
| Q4 24 | $4.27 | $0.63 | ||
| Q3 24 | $1.56 | $0.11 | ||
| Q2 24 | $0.48 | $0.49 | ||
| Q1 24 | $1.68 | $0.50 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.0B | $91.5M |
| 总债务越低越好 | $10.2B | $4.0B |
| 股东权益账面价值 | $15.9B | $4.7B |
| 总资产 | $44.5B | $10.5B |
| 负债/权益比越低杠杆越低 | 0.64× | 0.86× |
8季度趋势，按日历期对齐
现金及短期投资BGDAR
| Q4 25 | $2.0B | — | ||
| Q3 25 | $3.2B | $91.5M | ||
| Q2 25 | $7.1B | $94.6M | ||
| Q1 25 | $3.9B | $81.5M | ||
| Q4 24 | $3.8B | $76.0M | ||
| Q3 24 | $3.0B | $114.8M | ||
| Q2 24 | $1.3B | $121.6M | ||
| Q1 24 | $3.1B | $145.5M |
总债务BGDAR
| Q4 25 | $10.2B | — | ||
| Q3 25 | $11.1B | $4.0B | ||
| Q2 25 | $7.7B | $3.9B | ||
| Q1 25 | $5.4B | $3.8B | ||
| Q4 24 | $5.4B | $3.9B | ||
| Q3 24 | $5.4B | $4.1B | ||
| Q2 24 | $4.1B | $4.3B | ||
| Q1 24 | $4.1B | $4.4B |
股东权益BGDAR
| Q4 25 | $15.9B | — | ||
| Q3 25 | $15.8B | $4.7B | ||
| Q2 25 | $10.9B | $4.6B | ||
| Q1 25 | $10.6B | $4.4B | ||
| Q4 24 | $9.9B | $4.4B | ||
| Q3 24 | $10.1B | $4.6B | ||
| Q2 24 | $10.0B | $4.5B | ||
| Q1 24 | $10.6B | $4.6B |
总资产BGDAR
| Q4 25 | $44.5B | — | ||
| Q3 25 | $46.3B | $10.5B | ||
| Q2 25 | $31.2B | $10.3B | ||
| Q1 25 | $26.7B | $10.0B | ||
| Q4 24 | $24.9B | $10.1B | ||
| Q3 24 | $25.3B | $10.6B | ||
| Q2 24 | $24.4B | $10.6B | ||
| Q1 24 | $25.8B | $10.9B |
负债/权益比BGDAR
| Q4 25 | 0.64× | — | ||
| Q3 25 | 0.71× | 0.86× | ||
| Q2 25 | 0.71× | 0.85× | ||
| Q1 25 | 0.51× | 0.86× | ||
| Q4 24 | 0.54× | 0.89× | ||
| Q3 24 | 0.54× | 0.91× | ||
| Q2 24 | 0.41× | 0.97× | ||
| Q1 24 | 0.39× | 0.95× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.3B | $224.3M |
| 自由现金流经营现金流 - 资本支出 | $809.0M | — |
| 自由现金流率自由现金流/营收 | 16.6% | — |
| 资本支出强度资本支出/营收 | 11.0% | — |
| 现金转化率经营现金流/净利润 | 14.18× | 11.59× |
| 过去12个月自由现金流最近4个季度 | $-879.0M | — |
8季度趋势，按日历期对齐
经营现金流BGDAR
| Q4 25 | $1.3B | — | ||
| Q3 25 | $854.0M | $224.3M | ||
| Q2 25 | $-1.1B | $145.8M | ||
| Q1 25 | $-285.0M | $249.0M | ||
| Q4 24 | $1.1B | $154.4M | ||
| Q3 24 | $1.3B | $274.5M | ||
| Q2 24 | $-1.5B | $146.5M | ||
| Q1 24 | $994.0M | $263.9M |
自由现金流BGDAR
| Q4 25 | $809.0M | — | ||
| Q3 25 | $385.0M | — | ||
| Q2 25 | $-1.5B | — | ||
| Q1 25 | $-595.0M | — | ||
| Q4 24 | $564.0M | — | ||
| Q3 24 | $973.0M | — | ||
| Q2 24 | $-1.8B | — | ||
| Q1 24 | $758.0M | — |
自由现金流率BGDAR
| Q4 25 | 16.6% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | -36.8% | — | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | -47.4% | — | ||
| Q1 24 | 19.2% | — |
资本支出强度BGDAR
| Q4 25 | 11.0% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 10.1% | — | ||
| Q1 25 | 8.5% | — | ||
| Q4 24 | 12.2% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 8.0% | — | ||
| Q1 24 | 6.0% | — |
现金转化率BGDAR
| Q4 25 | 14.18× | — | ||
| Q3 25 | 5.14× | 11.59× | ||
| Q2 25 | -3.03× | 11.52× | ||
| Q1 25 | -1.42× | — | ||
| Q4 24 | 1.75× | 1.52× | ||
| Q3 24 | 6.00× | 16.19× | ||
| Q2 24 | -21.06× | 1.86× | ||
| Q1 24 | 4.07× | 3.25× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BG
| Other Oilseeds Processing And Refining | $4.6B | 95% |
| Other | $251.0M | 5% |
| Other Products | $3.0M | 0% |
DAR
| Fats | $428.4M | 27% |
| Food Ingredients | $380.6M | 24% |
| Diamond Green Diesel Holdings Llc Joint Venture | $342.1M | 22% |
| Fuel Ingredients | $154.3M | 10% |
| Used Cooking Oil | $125.9M | 8% |
| Other Rendering | $76.9M | 5% |
| Bakery | $46.9M | 3% |
| Other Products And Services | $12.2M | 1% |
