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邦吉（BG）与EchoStar CORP（SATS）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EchoStar CORP的1.3倍（$4.9B vs $3.8B），邦吉净利率更高（1.9% vs -31.8%，领先33.7%），邦吉同比增速更快（22.2% vs -4.3%），邦吉自由现金流更多（$809.0M vs $-583.4M），过去两年邦吉的营收复合增速更高（11.3% vs -2.8%）
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。
EchoStar Corp曾于2004年至2011年与TiVo公司发生专利纠纷，TiVo主张前者侵犯其DVR技术相关专利。该案先后由美国得克萨斯州东区联邦地区法院、联邦巡回上诉法院审理，涉及专利侵权判定、禁令条款、侵权产品改造、藐视法庭裁定及处罚等多个争议点。
BG vs SATS — 直观对比
营收规模更大
BG
是对方的1.3倍
$3.8B
营收增速更快
BG
高出26.5%
-4.3%
净利率更高
BG
高出33.7%
-31.8%
自由现金流更多
BG
多$1.4B
$-583.4M
两年增速更快
BG
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $3.8B |
| 净利润 | $95.0M | $-1.2B |
| 毛利率 | 20.7% | — |
| 营业利润率 | 1.8% | -20.5% |
| 净利率 | 1.9% | -31.8% |
| 营收同比 | 22.2% | -4.3% |
| 净利润同比 | -84.2% | -460.1% |
| 每股收益（稀释后） | $-0.02 | $-4.27 |
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BGSATS
| Q4 25 | $4.9B | $3.8B | ||
| Q3 25 | $4.4B | $3.6B | ||
| Q2 25 | $4.0B | $3.7B | ||
| Q1 25 | $3.7B | $3.9B | ||
| Q4 24 | $4.0B | $4.0B | ||
| Q3 24 | $3.9B | $3.9B | ||
| Q2 24 | $3.7B | $4.0B | ||
| Q1 24 | $3.9B | $4.0B |
净利润BGSATS
| Q4 25 | $95.0M | $-1.2B | ||
| Q3 25 | $166.0M | $-12.8B | ||
| Q2 25 | $354.0M | $-306.1M | ||
| Q1 25 | $201.0M | $-202.7M | ||
| Q4 24 | $602.0M | $335.2M | ||
| Q3 24 | $221.0M | $-141.8M | ||
| Q2 24 | $70.0M | $-205.6M | ||
| Q1 24 | $244.0M | $-107.4M |
毛利率BGSATS
| Q4 25 | 20.7% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 18.4% | — | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | 27.0% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 17.8% | — | ||
| Q1 24 | 22.2% | — |
营业利润率BGSATS
| Q4 25 | 1.8% | -20.5% | ||
| Q3 25 | 6.2% | -460.5% | ||
| Q2 25 | 12.3% | -5.7% | ||
| Q1 25 | 7.8% | -2.3% | ||
| Q4 24 | 18.3% | -1.6% | ||
| Q3 24 | 8.3% | -4.1% | ||
| Q2 24 | 2.8% | -1.7% | ||
| Q1 24 | 9.4% | -0.4% |
净利率BGSATS
| Q4 25 | 1.9% | -31.8% | ||
| Q3 25 | 3.8% | -353.6% | ||
| Q2 25 | 8.8% | -8.2% | ||
| Q1 25 | 5.5% | -5.2% | ||
| Q4 24 | 15.0% | 8.5% | ||
| Q3 24 | 5.7% | -3.6% | ||
| Q2 24 | 1.9% | -5.2% | ||
| Q1 24 | 6.2% | -2.7% |
每股收益（稀释后）BGSATS
| Q4 25 | $-0.02 | $-4.27 | ||
| Q3 25 | $0.84 | $-44.37 | ||
| Q2 25 | $2.61 | $-1.06 | ||
| Q1 25 | $1.48 | $-0.71 | ||
| Q4 24 | $4.27 | $1.24 | ||
| Q3 24 | $1.56 | $-0.52 | ||
| Q2 24 | $0.48 | $-0.76 | ||
| Q1 24 | $1.68 | $-0.40 |
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 | $3.0B |
| 总债务越低越好 | $10.2B | $18.7B |
| 股东权益账面价值 | $15.9B | $5.8B |
| 总资产 | $44.5B | $43.0B |
| 负债/权益比越低杠杆越低 | 0.64× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资BGSATS
| Q4 25 | $2.0B | $3.0B | ||
| Q3 25 | $3.2B | $3.9B | ||
| Q2 25 | $7.1B | $4.3B | ||
| Q1 25 | $3.9B | $5.1B | ||
| Q4 24 | $3.8B | $5.5B | ||
| Q3 24 | $3.0B | $674.4M | ||
| Q2 24 | $1.3B | $520.6M | ||
| Q1 24 | $3.1B | $766.4M |
总债务BGSATS
| Q4 25 | $10.2B | $18.7B | ||
| Q3 25 | $11.1B | $21.8B | ||
| Q2 25 | $7.7B | $25.4B | ||
| Q1 25 | $5.4B | $25.3B | ||
| Q4 24 | $5.4B | $25.7B | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 24 | $4.1B | $951.0M |
股东权益BGSATS
| Q4 25 | $15.9B | $5.8B | ||
| Q3 25 | $15.8B | $7.0B | ||
| Q2 25 | $10.9B | $19.7B | ||
| Q1 25 | $10.6B | $20.0B | ||
| Q4 24 | $9.9B | $20.2B | ||
| Q3 24 | $10.1B | $19.4B | ||
| Q2 24 | $10.0B | $19.6B | ||
| Q1 24 | $10.6B | $19.8B |
总资产BGSATS
| Q4 25 | $44.5B | $43.0B | ||
| Q3 25 | $46.3B | $45.3B | ||
| Q2 25 | $31.2B | $59.9B | ||
| Q1 25 | $26.7B | $60.6B | ||
| Q4 24 | $24.9B | $60.9B | ||
| Q3 24 | $25.3B | $57.5B | ||
| Q2 24 | $24.4B | $55.3B | ||
| Q1 24 | $25.8B | $55.6B |
负债/权益比BGSATS
| Q4 25 | 0.64× | 3.24× | ||
| Q3 25 | 0.71× | 3.13× | ||
| Q2 25 | 0.71× | 1.29× | ||
| Q1 25 | 0.51× | 1.27× | ||
| Q4 24 | 0.54× | 1.27× | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.41× | — | ||
| Q1 24 | 0.39× | 0.05× |
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 | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $809.0M | $-583.4M |
| 自由现金流率自由现金流/营收 | 16.6% | -15.4% |
| 资本支出强度资本支出/营收 | 11.0% | 4.2% |
| 现金转化率经营现金流/净利润 | 14.18× | — |
| 过去12个月自由现金流最近4个季度 | $-879.0M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流BGSATS
| Q4 25 | $1.3B | $-425.3M | ||
| Q3 25 | $854.0M | $111.7M | ||
| Q2 25 | $-1.1B | $7.5M | ||
| Q1 25 | $-285.0M | $206.8M | ||
| Q4 24 | $1.1B | $45.6M | ||
| Q3 24 | $1.3B | $276.2M | ||
| Q2 24 | $-1.5B | $479.7M | ||
| Q1 24 | $994.0M | $451.3M |
自由现金流BGSATS
| Q4 25 | $809.0M | $-583.4M | ||
| Q3 25 | $385.0M | $-144.4M | ||
| Q2 25 | $-1.5B | $-285.7M | ||
| Q1 25 | $-595.0M | $-51.7M | ||
| Q4 24 | $564.0M | $-298.7M | ||
| Q3 24 | $973.0M | $-57.5M | ||
| Q2 24 | $-1.8B | $132.4M | ||
| Q1 24 | $758.0M | $-68.4M |
自由现金流率BGSATS
| Q4 25 | 16.6% | -15.4% | ||
| Q3 25 | 8.8% | -4.0% | ||
| Q2 25 | -36.8% | -7.7% | ||
| Q1 25 | -16.2% | -1.3% | ||
| Q4 24 | 14.1% | -7.5% | ||
| Q3 24 | 25.1% | -1.5% | ||
| Q2 24 | -47.4% | 3.3% | ||
| Q1 24 | 19.2% | -1.7% |
资本支出强度BGSATS
| Q4 25 | 11.0% | 4.2% | ||
| Q3 25 | 10.7% | 7.1% | ||
| Q2 25 | 10.1% | 7.9% | ||
| Q1 25 | 8.5% | 6.7% | ||
| Q4 24 | 12.2% | 8.7% | ||
| Q3 24 | 9.1% | 8.6% | ||
| Q2 24 | 8.0% | 8.8% | ||
| Q1 24 | 6.0% | 12.9% |
现金转化率BGSATS
| Q4 25 | 14.18× | — | ||
| Q3 25 | 5.14× | — | ||
| Q2 25 | -3.03× | — | ||
| Q1 25 | -1.42× | — | ||
| Q4 24 | 1.75× | 0.14× | ||
| Q3 24 | 6.00× | — | ||
| Q2 24 | -21.06× | — | ||
| Q1 24 | 4.07× | — |
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% |
SATS
| Pay Tv | $2.4B | 62% |
| Wireless Services And Related Revenue | $846.5M | 22% |
| Equipment Sales And Other Revenue | $346.5M | 9% |
| Broadband And Satellite Services And Other Revenue | $264.1M | 7% |
