Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
In the first quarter of fiscal 2025, Bunge Global SA reported negative free cash flow and a negative free cash flow margin, driven by an operating cash outflow that exceeded capital expenditure. Revenue, operating cash flow, and free cash flow all declined compared to both the prior quarter and the same quarter last year.
- Revenue was lower than both the preceding quarter and the year-ago quarter. Operating cash flow turned negative, and capital expenditure was higher than the year-ago level but lower than the prior quarter. The combination of negative operating cash flow and ongoing capital spending resulted in a negative free cash flow and a negative free cash flow margin.
- Compared to the prior quarter, revenue, operating cash flow, and free cash flow all weakened, with free cash flow turning from positive to negative. Versus the same quarter last year, revenue, operating cash flow, and free cash flow also declined, and the free cash flow margin shifted from positive to negative.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$829.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$595.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$285.0M
Cash generated by operations before capital spending.
CapEx
$310.0M
Capital spending and related asset purchases.
FCF margin
-16.2%
The share of revenue converted into free cash flow.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2024-06-30 | -$5.7B | -$1.5B | $297.0M | -$1.8B | 30.9% |
| 2024-09-30 | $3.9B | $1.3B | $354.0M | $973.0M | 25.1% |
| 2024-12-31 | $13.5B | $1.1B | $489.0M | $564.0M | 4.2% |
| 2025-03-31 | $3.7B | -$285.0M | $310.0M | -$595.0M | -16.2% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | -296.0% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 8.5% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$2.1B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating Cash Flow Turned Negative
Operating cash flow was negative this quarter, a significant shift from positive levels in both the prior quarter and the year-ago quarter. This change, combined with ongoing capital expenditure, drove free cash flow deeply negative.
The negative operating cash flow was the primary factor behind the negative free cash flow and free cash flow margin this quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was lower than both the preceding quarter and the year-ago quarter. Operating cash flow turned negative, and capital expenditure was higher than the year-ago level but lower than the prior quarter. The combination of negative operating cash flow and ongoing capital spending resulted in a negative free cash flow and a negative free cash flow margin.
Compared to the prior quarter, revenue, operating cash flow, and free cash flow all weakened, with free cash flow turning from positive to negative. Versus the same quarter last year, revenue, operating cash flow, and free cash flow also declined, and the free cash flow margin shifted from positive to negative.
Monitor the trajectory of operating cash flow, as it turned negative this quarter and is the primary driver of the negative free cash flow.