ADM vs BG: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: BG is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. ADM and BG share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined ADM and BG exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Archer-Daniels-Midland is a global agribusiness that sources, transports, stores, processes, and merchandises agricultural commodities and ingredients. It runs three reportable segments: Ag Services and Oilseeds (the largest, spanning grain origination, oilseed crushing, and global trading), Carbohydrate Solutions (corn wet milling, sweeteners, starches, and ethanol), and Nutrition (human and animal ingredients, flavors, and specialty products). Along with Bunge, Cargill, and Louis Dreyfus it is one of the "ABCD" firms that move a large share of the world's grain and oilseeds, making it a core piece of the food and biofuel supply chain.

Full ADM guide

Bunge Global SA is a leading global agribusiness and food company that sources, stores, processes, transports, and sells agricultural commodities and food ingredients. It sits among the "ABCD" grain traders (ADM, Bunge, Cargill, Louis Dreyfus) and reports across three segments: Agribusiness (high-volume, low-margin oilseed processing and grain merchandising), Refined and Specialty Oils, and Milling. In July 2025 Bunge closed its roughly $8 billion merger with Glencore-backed Viterra, combining the top oilseed processor with a leading grain trader to form a group valued near $25 billion, and it sold its North American corn milling business the same month.

Full BG guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• ADM drivers: Crush and ethanol margin recovery; US biofuel and renewable-diesel policy.
• BG drivers: Viterra merger scale and synergies; Crush margins and biofuel demand.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: ADM is highly cyclical and its profits depend on crush margins, ethanol spreads, and crop supply that it cannot control, so earnings can drop sharply in a bad year as 2025 showed. For BG, bunge's earnings are highly cyclical and depend on commodity crush margins, harvest sizes, and trade flows it cannot control, so a compression in crush spreads can cut profits sharply.

Pick ADM if you believe its drivers more; BG if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the ADM and BG guides.

ADM. As of July 2026, ADM trades around $77 with a market cap near $37 billion on roughly $80 billion of trailing revenue, reflecting the razor-thin margins typical of commodity processing. The trailing P/E near 35x looks elevated because it sits on depressed 2025 earnings; management's raised 2026 adjusted EPS guidance of roughly $4.15 to $4.70 implies a much lower forward multiple if the crush-and-ethanol recovery plays out. The roughly 2.6% dividend yield and 53-year raise streak are a large part of the total-return case.

BG. Trailing revenue jumped toward $70 billion as the Viterra merger consolidates, while net income of roughly $0.8 billion reflects a softer commodity-margin year. The gap between the trailing P/E near 25x and a forward P/E near 15x captures the market's expectation of an earnings recovery in 2026 as Viterra contributes and crush margins normalize. Figures are approximate and move with the underlying commodity cycle.

Headline figures (approximate, July 2026): ADM shows revenue (ttm) ~$80B, market cap ~$37B, share price ~$77, p/e ratio ~35x; BG shows revenue (ttm) ~$70 billion, net income (ttm) ~$0.8 billion, market cap ~$24 billion, adjusted eps (fy2025) ~$7.57.

ADM and BG are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined ADM and BG exposure against your real portfolio. It is not an investment adviser.